Development in Cyprus Essay Example | Topics and Well Written Essays - 3750 words

Development in Cyprus - Essay ExampleBecause of its importance, many organizations have provided different meanings for the concept of CSR.The World Business Council for Sustainable Development has defined CSR in its publication Making Good Business Sense as the continuing commitment by business to behave ethically and contribute to economic development season improving the quality of life of the workforce and their families as well as of the local community and society at large(Internet, Other interpretations). Hopkinssays that CSR is concerned with treating the stakeholders of the sozzled ethically or in a responsible manner, and that stakeholders exist both within a firm and outside (Hopkins, 2003, P 16).interest of organizations (Andriof and Waddock, 2002, P 21). only it must be noted that the terms used in this definition such as obligation and welfare of society are very spacious in meanings and invite a variety of interpretations. Carroll defines it in a much broader sen se. He says The total corporate complaisant right of business entails simultaneous fulfillment of firms economic, legal, ethical and kindly responsibilities (Nieuwenhuis et al, 2003, P 58). Carrolls Pyramid of CSR identifies the different levels at which a company can engage with society. They are economic (indicating profitability), legal (obeying the law), ethical (doing what is right) and philanthropic ( being a good corporate citizen).The Institute of Business Ethics describes CSR as the voluntary actions taken by a company to address ethical, social and environmental impacts of its business operations and the concerns of its principle stakeholders (Internet, what is IBEs definition of CSR). However, a survey of CEOs around the world has revealed that they have yet to reach a consensus on the definition of CSR though they have formulated their own definitions and recognized the importance of the concept in general (Internet, Baue, and February 1, 2002). 1200 CEOs from 33 cou ntries have participated in this survey and most of them agree unanimously on its relevance. When viewed overall, the meaning of CSR is very wide and interpreted in different angles. Most of the corporate companies feel that the concept of corporate social responsibility has gained 3prominence in the last decade or so (Internet, Overall conceptual understanding), though some of them have nurtured these social responsibility ideas since the 1970s. For a few companies, the CSR has been the part of the very history of the company.The origin of CSR EuropeThe concept of corporate social responsibility has become an organized one for the first cartridge holder in the world in 1995 with the launching of the CSR Europe by the then president of the European Commission Jacques Delors in association with several leading multinational companies (Internet, CSR Europe). Established with a motto of achieving profitability, sustainable growth and human progress through implementation of corporate social responsibility practices, CSR Europe has been seeking the progressive participation of corporate companies for achieving healthy and harmonious societies in all European countries. It has been