Corporate social responsibility and its effect on community development: an overview

Traditionally, businesses primarily exist to make profit. The profit motive has often been perceived as representing a lack of concern for all other objectives of an organisation. But, today businesses are realising that in order to stay profitable in a rapidly changing environment, they would have...

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Main Authors:	Masum, Ahmad, Abdul Aziz, Hajah Hanan Haji Awang, Ahmad, Muhamad Hassan
Format:	Article
Language:	English
Published:	International Organization of Scientific Research 2020
Subjects:	K Law (General) K1001 Commercial Law
Online Access:	http://irep.iium.edu.my/78300/ http://irep.iium.edu.my/78300/ http://irep.iium.edu.my/78300/1/Published%20paper%20-%20Corporate%20Social%20Responsibility.pdf

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recordtype	eprints
spelling	iium-783002020-01-29T04:35:55Z http://irep.iium.edu.my/78300/ Corporate social responsibility and its effect on community development: an overview Masum, Ahmad Abdul Aziz, Hajah Hanan Haji Awang Ahmad, Muhamad Hassan K Law (General) K1001 Commercial Law Traditionally, businesses primarily exist to make profit. The profit motive has often been perceived as representing a lack of concern for all other objectives of an organisation. But, today businesses are realising that in order to stay profitable in a rapidly changing environment, they would have to become socially responsible. Hence, there is a growing demand and expectation from various stakeholders who expect business to go beyond their profit agenda and be socially responsible. The belief that beyond making profit for the shareholders, business enterprises should also serve the interest of all other stakeholders has culminated into the concept of Corporate Social Responsibility (CSR). This concept has engendered considerable interest in recent years. CSR refers to strategies corporations or firms conduct their business in a way that it’s ethical, society friendly and beneficial to the community development. The objective of this paper is to examine the effect of CSR on community development. The paper adopts a library based research methodology focusing mainly on primary and secondary sources. The result of this paper shows that the traditional view of business being essentially to maximise profit has changed in recent years. The traditional view is no longer accepted in today’s business environment. Corporations have now adopted the concept of CSR, which is concerned with economic, environment, and social performance. The paper concludes that the effect of CSR on community development can be seen from different angles like protecting the environment. Some of the world’s largest companies have made a highly visible commitment to CSR, for example, with initiatives aimed at reducing their environmental footprint. International Organization of Scientific Research 2020-01-28 Article PeerReviewed application/pdf en http://irep.iium.edu.my/78300/1/Published%20paper%20-%20Corporate%20Social%20Responsibility.pdf Masum, Ahmad and Abdul Aziz, Hajah Hanan Haji Awang and Ahmad, Muhamad Hassan (2020) Corporate social responsibility and its effect on community development: an overview. IOSR Journal of Business and Management (IOSR-JBM), 22 (1). pp. 35-40. ISSN 2319-7668 E-ISSN 2278-487X http://www.iosrjournals.org
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	K Law (General) K1001 Commercial Law
spellingShingle	K Law (General) K1001 Commercial Law Masum, Ahmad Abdul Aziz, Hajah Hanan Haji Awang Ahmad, Muhamad Hassan Corporate social responsibility and its effect on community development: an overview
description	Traditionally, businesses primarily exist to make profit. The profit motive has often been perceived as representing a lack of concern for all other objectives of an organisation. But, today businesses are realising that in order to stay profitable in a rapidly changing environment, they would have to become socially responsible. Hence, there is a growing demand and expectation from various stakeholders who expect business to go beyond their profit agenda and be socially responsible. The belief that beyond making profit for the shareholders, business enterprises should also serve the interest of all other stakeholders has culminated into the concept of Corporate Social Responsibility (CSR). This concept has engendered considerable interest in recent years. CSR refers to strategies corporations or firms conduct their business in a way that it’s ethical, society friendly and beneficial to the community development. The objective of this paper is to examine the effect of CSR on community development. The paper adopts a library based research methodology focusing mainly on primary and secondary sources. The result of this paper shows that the traditional view of business being essentially to maximise profit has changed in recent years. The traditional view is no longer accepted in today’s business environment. Corporations have now adopted the concept of CSR, which is concerned with economic, environment, and social performance. The paper concludes that the effect of CSR on community development can be seen from different angles like protecting the environment. Some of the world’s largest companies have made a highly visible commitment to CSR, for example, with initiatives aimed at reducing their environmental footprint.
format	Article
author	Masum, Ahmad Abdul Aziz, Hajah Hanan Haji Awang Ahmad, Muhamad Hassan
author_facet	Masum, Ahmad Abdul Aziz, Hajah Hanan Haji Awang Ahmad, Muhamad Hassan
author_sort	Masum, Ahmad
title	Corporate social responsibility and its effect on community development: an overview
title_short	Corporate social responsibility and its effect on community development: an overview
title_full	Corporate social responsibility and its effect on community development: an overview
title_fullStr	Corporate social responsibility and its effect on community development: an overview
title_full_unstemmed	Corporate social responsibility and its effect on community development: an overview
title_sort	corporate social responsibility and its effect on community development: an overview
publisher	International Organization of Scientific Research
publishDate	2020
url	http://irep.iium.edu.my/78300/ http://irep.iium.edu.my/78300/ http://irep.iium.edu.my/78300/1/Published%20paper%20-%20Corporate%20Social%20Responsibility.pdf
first_indexed	2023-09-18T21:50:20Z
last_indexed	2023-09-18T21:50:20Z
_version_	1777413726224252928

Corporate social responsibility and its effect on community development: an overview

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