This company that has embraced this philosophy is

This report gives a review on how the issues of
corporate social responsibility have evolved Over the years.

Corporate social responsibility is a business
concern for societies welfare. This means that the marketing managers are
interested in the long-term corporate interest and also community’s health.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

There has been an increase in the amount of
attention being paid to corporate social responsibility (CSR) in the past 50
years. A notable number of early researchers such as Carroll, 1999, Dashlrsrud,
2008, Kolk, 2010, Mintzberg, 1983 and other authors aimed to identify the
various concept and components of the theme (CSR), as it is believed to have
emerged during the 20th century. The invention of international business was
said to have developed around that same period. (Wright 1970).  McNulty and CHEEKS (1978) discovered that
little or no attention was paid to corporate social responsibility and much of
the focus was on business in emerging countries. In addition to that, they also
noted that the managers in less developed countries are faced with new emerging
problems arising from the communities in which they operate.

 There are
many perception and views on what corporate social responsibility entails.

However, there has not been any clear or final agreement to the real meaning.

There has been a decrease in the number of CSR conceptualization over the
years.

A new philosophical trend in CSR is called
sustainability. It is often thought that if companies help the community in
which they operate through their business, it is possible to make a significant
success. Multinational corporations can look to solve the problem of the
society and consumers by creating a product or service to fulfil the need.

Therefore achieving the strategic goal and helping the community at the same
time. An example of a Notable company that has embraced this philosophy is an
ice cream company named BEN AND JERRY’S. 
The company donates about its pre-tax profit to different charitable institutions
in the world. Sustainability’s forward thinking revolves around creating new
products that in the long run will produce improvements in societies ills.  An example is creating a backpack designed to
charge electronic devices.

Another way companies can embrace social
responsibility is through the stakeholder theory approach. The focus of this
approach is giving attention to every stakeholder in the entire company. Some
CSR critics are of the belief that the primary purpose of a business is to make
a profit for their stakeholder.  Also,
some critics state that companies should participate in a socially responsible
way.

STAKEHOLDER’S
MANAGEMENT APPROACH

 It is  some what believed that a company should have
an extended role and responsibilities to other stakeholders asides its owners
is much newer than the shareholder theory. Although some the of shareholder and
stakeholder theories differ, both are concerned with the sole aim of the firm
and strategies to harness its competitive position. These two theories are not evenly
opposed, as it sometimes appears that each is concerned with the firm’s best
interests. For example, stakeholder theory does not view maximization of shareholder
wealth as the most efficient way to generate competitive advantage for the firm.

The theory states that firms can best generate competitive advantage and wealth
by taking more than just their shareholders into account. (pfarrer 2010)

In
late 1970s and early 1980s, researchers with backgrounds in philosophy,
psychology, sociology, and management started producing forth  new theories  of the firm that confronted some of the basic
assumptions of classic economics and shareholder theory (the term “stakeholder”
is derived, from “shareholder”). Carroll (1979)and Freeman(1970) theorized that
by  stating that, taking the interests of
all the firm’s stakeholders into account, the firm could do “better” (achieve
greater performance) than by simply focusing on shareholder interests.