The Significance of Corporate Social Responsibility in the Contemporary Period - Research Paper Example

It is in the last three decades that numerous discourses on CSR happened (Campbell 2007). There is an assumption that the notion of CSR has contributed to the changed nature of modern organizations (Tencati & Zolsnai, 2009). Since, CSR becomes the theoretical basis for organisations to accept the truism that their responsibility is not only to secure and increase profit for the firm (Milton, 1970), but it also includes being responsible to other actors in the society that may be affected by the actions and activities of the company.

The ‘noble’ intention underpinning CSR has earned the ideal wide acceptance in the business world. However, in the recent past, many are questioning the validity and ’authenticity’ of CSR because of the obvious contradictions between what some well-known corporations are doing and saying. This situation is heightened by the Enron experience, the global economic crisis that started in 2007, and the various ethical issues involving pharmaceutical companies, sweatshops, child labour and other similar cases that persist despite claims of adhering to the tenets of CSR.

Thus, now some are questioning the continued importance of CSR in the midst of corporate abuses and impunities. In this regard, this research will attempt to address the problem ‘is there still a continued significance for corporate social responsibility?’ With this question, the research aims to understand the current perception of some scholars regarding the importance of CSR. Likewise, the study intends to know whether there is still a meaning for CSR in the contemporary period.

Finally, it intends to determine the continued possible merits of CSR despite some impurities of some well-rated firms. In order to address the issue and achieve the objectives of the study, the research adopted a documentary analysis of some articles relevant to the research topic.