Discuss the evolution of CSR Essay Example | Topics and Well Written Essays - 2500 words

Discuss the evolution of CSR - Essay Example 14). Businesses have traditionally been known to exist for the key purpose of making profits. However, from as early as the start of the 20th century, entrepreneurs, mostly in the Unites States, recognised the importance of using resources in ways that would benefit both their businesses as well as the societies they worked with (Brewerton & Millward 2001, p. 76). As the idea gradually took root over two decades later, more organizations saw the significance of the entire business behaving in ways that were considered responsible socially, just like it applies to individual citizens. Although not evenly developed globally, the concept of CSR is becoming a key feature of organizations in regions that embrace it as it penetrates corporate consciousness and culture (Visser, Dirk & Manfred 2007, p. 69). That aspect has called for studies that examine its history, societal roles especially in times of crises and where is heading to. This paper will outline and discuss the evolution of CSR . It will include its history, role in the financial crisis and its prospects for the future, supported by examples. One rationale behind the genesis of SCR was the assumption that some theorists have termed wrong; that which perceived businesses as solely money-making organisations for the owners (Dincer & Dincer 2007, p 44). This assumption supported the idea that those who engaged in business only had personal and selfish interests. The implication was that it was up to consumers to assume the role of caring for the society’s welfare and take actions that support their interests (Dincer & Dincer 2007, p 46). However, most entrepreneurs recognise that while that still remains a real reason for the presence of their business in the society, they are also aware that they came together to collectively achieve what they could not as individuals. This perspective added a new objective to their reasons of existence; that of contributing to a society without which they could not s urvive. This awareness is embedded in the fact that the businesses only exist when there are societies to produce goods and services for; to produce raw materials for the businesses; and to offer a labour force in the businesses (Bhattacharya, Sankar & Korschun 2011, p. 83). However, the concept of giving back to society as initiated by the American businessmen at the start of the 20th century had to be abandoned in the advent of the early 1930s’ Great Depression. At that time, the only goal for businesses became to survive, while citizens only needed an employment that generated income. Then in 1939, a co-founder of the largely successful Hewlett Packard rekindled the need for companies to value to their existence and that of the societies, which took a slow start due to WWII and was later revived in the 1950s (Morrison, R 2008, p. 9). His opinion was that consumers will only be condescending to products that in turn support noble causes, charity and the environment. The rev ival is believed by some theorist to have resulted from a global corporation by regions that backed each other during the course of WWII and the recovery period that followed. By the 1980s, CSR was already a vital aspect of modern business and supporting