In 1960, Frederick Wrote That Social Responsibility In

In 1960, Frederick wrote that Social responsibility in the final analysis implies a public posture toward society’s economic and human resources and a willingness to see that those resources are used for broad social ends and not simply for the narrowly circumscribed interests of private persons and firms (Frederick, 1987). Walton emphasized that the essential ingredient of the corporation’s social responsibilities include a degree of voluntarism, as opposed to coercion, an argument that business continues to put forth today. Walton also counseled the acceptance that costs are involved for which it may not be possible to gauge any direct measurable economic returns (Walton, 1967). The modern debate on CSR starts in the USA in 1970, when†¦show more content†¦The 1980s have been described as having a more responsible approach to corporate strategy (Lucas, et al., 2001). Prominent work was R. Edward Freeman’s, on the emerging Stakeholder Theory (Lucas et al., 2001; Post 2003; Windsor 2001). Freeman said that meeting shareholders needs is the only one element in a value-adding process and he also identified a range of stakeholders (including shareholders) who were relevant to the firm’s operations (Lucas et al., 2001). Freeman’s 1984 paper continues to be identified as a ‘seminal paper on stakeholder theory’, which expressed stakeholder theory as the ‘dominant paradigm’ in CSR (Mc Williams and Siegel, 2001). The decade of 1980s, according to Carroll, is identified as a period in which the issue that whether socially responsible firms could also be profitable firms was widely debated by scholars. If it could be demonstrated that they were, this would be an added argument in support of the CSR movement (Carroll, 1999). Aupperle, Carroll, and Hatfield‘s 1985 study of the relationship between CSR and profitability ordered the priorities of four components of CSR previously identified by Carroll, as economic, legal, ethical, and discretionary (Carroll, 1999). The definition of CSR has not been much expanded by the literature of 1990s, however, it has used the CSR concept as the building block, base point, or point-of –departure for other related themes andShow MoreRelatedMotivation in Modern ICT Industry Essay1570 Words   |  7 Pagesfor independence and a desire to learn new skills and challenges. What could be built on top of the characteristics discussed in this review are hygiene factors which will be discussed later on, when dealing with the Two Factor Theory proposed by Frederick Hertzberg. Studies show that these characteristics are primarily affected by personal traits that make up an individual. 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