Every year, there is an increasingly evident tendency in the global economy to revise the fundamental principles of conducting business, as well as to change its main landmarks, priorities, and values. The previous era of "wild capitalism," where participants aimed to accumulate significant capital without considering the interests of others (and sometimes intentionally disregarding or violating those interests), is now a thing of the past. Taking its place is a contemporary form of business that prioritizes the needs and interests of society - known as socially responsible business (Cooperrider, 2008). This process signifies a deliberate re-orientation of the goals and interests of businesses, and it is not coincidental.
The reason behind this phenomenon is the advancement of business values, which are objective factors. The organization relies on the external environment for its survival and it is a complex component of it. This enviro
...nment encompasses customers, suppliers, local communities, and the media. The social environment has a significant impact on the attainment of organizational objectives. Therefore, organizations must find a middle ground between their economic goals and the economic and social interests of the entities in their surroundings.
Social responsibility involves organizations voluntarily taking actions to improve society, rather than being obligated by law. It is crucial for organizations to dedicate resources and make an effort to address societal issues in order to strengthen and enhance society. This includes activities such as protecting the environment, ensuring health and safety, and upholding consumer rights. By exhibiting responsible behavior, organizations can gain society's trust and benefit from potential growth and profitability.
Corporate social responsibility (CSR) refers to the voluntary actions undertaken by business owners...
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