Corporate social responsibility (CSR): is it enough for sustainable development?
Corporate Social Responsibilty (CSR) has become a buzword al over the world. A company can distinguish it from others through CSR and we se that wel-known companies actualy not only diferentiate their brands and reputations but also their products and services taking care of the societies and envi...
| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English English |
| Published: |
2014
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/41888/ http://irep.iium.edu.my/41888/ http://irep.iium.edu.my/41888/1/Programme_ICCI_2014.pdf http://irep.iium.edu.my/41888/6/CSR.pdf |
| Summary: | Corporate Social Responsibilty (CSR) has become a buzword al over the world. A company can distinguish it
from others through CSR and we se that wel-known companies actualy not only diferentiate their brands
and reputations but also their products and services taking care of the societies and environments where they
operate. Some influential Islamic scholars also find significant similarities of Islamic teaching on busines ethics
to the CSR agenda. So, conclusion can be drawn that CSR is immensely helpful to atain sustainable growth
and development. However, CSR is not above criticism and now being criticized because of its absence of any
generaly acepted common framework and indulging in many activities in the name of CSR rather than
activities that truly addres society’s presing neds such as poverty aleviation, income gap minimization,
employment generation, basic ned fulfilment etc. in this situation it is pertinent to ask whether CSR is enough
for sustainable development or is it necesary to go beyond CSR. This paper argues that CSR is important but
there is a spectrum of ethical options beyond CSR. Besides CSR, this paper discuses the concept of corporate
waqf in Malaysia and Social Busines (SB) developed by Nobel Laureate Mohammad Yunus as two posible
options. This paper wil criticaly evaluate thre models of social responsibilities i.e., CSR, Social busines, and
Corporate Waqf. Necesary case studies wil be placed in support of our arguments and it wil be shown why
is it necesary to go beyond CSR and pay atention to alternative in order to achieve sustainable growth and
development with greater justice. |
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