Theoretical Developments in Corporate Social Responsibility

Abstract

Corporate Social Responsibility (CSR) is a complex subject, as are theoretical developments within it. It is multidisciplinary, as are many disciplines in the social sciences. Perhaps because CSR is a relatively new area within the field of business and management (Crowther and Lauesen 2017), dealing, as will be seen, with a variety of issues and approaches, it spans many fields, theoretical perspectives, and research methodologies. One of the dialectics in writings on CSR has been between a “functionalist” approach, often seeing CSR policies as one among other corporation policies, and effective to a greater or lesser extent. A radical approach on the other hand regards corporations as being always mindful of the bottom line. CSR policies would then be tools to achieve that goal, be it with effective socially responsible outcomes or possibly as simply branding exercises to gain legitimacy and consumer support. With recent global developments, there are again different views as to the directions CSR will take. With the corona virus pandemic and the climate change crisis, broader questions have been brought into focus regarding the roles of the state and of international institutions, and their future relationships with corporations. The hitherto neoliberal ideology and practices which had weakened many governments in favor of private companies, including their taking over public services, is now under challenge. Environmental disasters and Covid-19 have exposed the need for strong governmental action both nationally and also through global cooperation. This raises questions about the future roles of corporations and other private organizations, and therefore of CSR, the ways in which it will develop, and the possible effects on societies world over.