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The ado began in the 18th century when Adam Smith. He was a philosopher of political economics when he stated that the public and the organisations should interact freely which would result in meeting the needs and wants of the society as a whole (Campbell, 2008). This responsibility was named Corporate Social Responsibility (CSR). CSR is a part of economics as it is related to the social development of the community and significant factors that impact the overall profitability and brand reputation of the company. It started evolving in the 1950s with further expansion during the 1970s. The economies which are ever-growing give rise to CSR and results in numerous developments (Bird, 2009).
The CSR policies of the company helps in enhancing the brand reputation of the company as well as it provides societal benefits to the individuals within the society by delivering sustainable help regarding education and financial support. On the other hand, it provides employment benefits to the employees that develop motivation and commitment towards the company. The counter argument here is that, there is no stipulated rule present of conducting CSR and as per the company's convenience the entire framework is executed.
Notwithstanding government or business, leaders in every arena have the occasion for improving recent issues and solving problems related to business. These opportunities can come in the form of community needs which would be the utilisation of business technologies and merging efforts in serving the needs of the community (Crisan & Borza, 2012). New ways should be sought by companies to apprise people of their social responsible actions and must accept the fact that customers ought to be skeptical and would inspect any claims. The primary argument here is that either CSR provide positive or negative impact to the society.
Novel ways of societal benefits must be provided by the company through CSR that would eventually enhance the brand reputation and the company must accept the fact that customers ought to be skeptical and would inspect any claims.
CSR helps in sharing the negative outcomes due to industrialisation. CSR also helps in realising the fact that the existence of corporations in a society is not just for gaining employment. It assists both the community as well as the organisation to stay in harmony with each other.