Implementing Corporate Social Responsibility policies has proven to be a demanding task especially in developing countries. Interpretation of the Corporate Social Responsibility term differs among companies, countries and regions. Sometimes CSR is referred to as “sustainable development”.
However, CSR is about admitting that corporations have to assume a responsibility for the effect of their operations on society and environment. Mainly this responsibility goes beyond legal compliance.
Misinterpretation of CSR is often causing the failure of the implementation process. This is mainly a result of the fact that CSR programs adopted by companies did not always adjust to communities’ needs and expectations.
Companies in different parts of the world use corporate social responsibility (CSR) in diverse forms. In Europe, the concept is often associated with the social responsibility of business operations and the investment in communities meant to help business’ development. From a cultural perspective, in United States, it is almost equal to corporate philanthropy. In Latin America, CSR is viewed as an element to address poverty alleviation, inequality and other stressing social issues while improving the sustainability of companies.
Conflicting CSR approaches led to public confusion and conflicting views between researchers and practitioners. However, CSR approaches are all oriented towards reaching general welfare.
Categories: Features & Analysis