THE EMERGENCE OF CORPORATE SOCIAL RESPONSIBILITY IN MODERN BUSINESS ENVIRONMENT
This paper intends to provide a basic introduction to the concept of corporate social responsibility. Conventional and regular business precepts view firms as purely a commercial enterprise and there is no requirement for these firms to engage in philanthropic deeds. The concept of corporate business performance conceives that the main objective of business firms to maximise shareholders’ profits. On the contrary, the notion of corporate social responsibility requires business firms to consider the broader interests of the stakeholders including customers, employees and suppliers. This paper fundamentally explores the distinction between corporate business performance and corporate social responsibility. This paper also explains some of the factors that mobilise firms to begin applying corporate social responsibility within its business framework.