Corporate Social Responsibility: A Study Of Progression To The Next Level

Abstract

Corporate Social Responsibility was an initiative constructed many years before its popularity or implementation. The 2001 economic state, local, and world affairs brought this inspiration to the front of actionable items. The terrorist attacks of September 11, the collapse and scandals of Enron, WorldCom, and Tyco left thousands without their retirement. The bankruptcy of many ancillary businesses and similar corporations are excellent examples of imbalanced management. Other examples of poor silo-style management have proliferated through many organizations serving as the root cause for the adoption of socially responsible initiatives. Corporations over the past fifty years have made attempts at serving greater causes. However, these initiatives were simply a random string of projects, which were short in duration. Further they were sporadic in nature, small, and did not compliment other projects benefiting the community. Projects were based on volunteerism and little else. Some influence by a peer might inspire a reluctant person to participate once but rarely a second time. Albeit, corporations encouraged their employees to be active with these projects; corporate money was seldom used as it would inspire these causes to request additional funds. At that time, corporate sponsored social responsibility within society was the exception and not the rule. Today’s companies are measured by their initiatives of corporate social responsibility. Public companies are including environmental and social accountability in their Securities and Exchange Commission documents. Massive air time is being devoted to market social responsibility and a company’s compliance with a demanding public. Corporate social responsibility can now be measured as the extra mile.