Topic 3 What is CSR?

‘Corporate Social Responsibility is a management concept whereby business integrate social, environmental and economic concerns in their operations and interactions with their stakeholders’.

(UNIDO, 2020)

 

 

 

 

 

Source: Are CSR Definitions outdated in 2019? – Impakter

 

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  • The term CSR was first used in 1953 by the American economist Howard Bowenin in his publication Social Responsibilities of the Businessman.
  • The concept bloomed in 1970s in the States as a kind ‘social contract’ between companies and society and it was presented by the Committee for Economic Development.
  • In the 1990s CSR was a concept widespread, in 1991, professor Donna J. Wood, from the University of Pittsburgh, published Corporate Social Performance Revisited, improving CSR models and facilitating a framework of CSR programs.
  • In the early 2000s, CSR was introduced as a solid part of the strategy for many multi-million-dollar organizations like Coca-Cola, Walt Disney, and Pfizer.
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