NicosiaBusiness - Chapter 05 | eBooks | Non-Fiction

NicosiaBusiness - Chapter 05

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The conventional use and widespread acceptance of the concept of corporate social responsibility has only become more popular globally in the course of the last decade. The whole notion fuses questions of accountability and ethics with that of transparency in influencing the behavior of major corporations in their role as conduits for progressive change. While there is skepticism expressed regarding the importance of multinational corporations as global actors in some elements of the international political economy literature, scholars, policy makers, and multilateral institutions have generally come to regard corporations as engines of prosperity and, indirectly, of democracy.1

In essence, corporate social responsibility asserts that major corporations have more dimensions to their role than purely the economic one of satisfying stockholder demands. Through their behavior, they may also choose to contribute to maintaining political stability, to the provision of public welfare services, and to addressing social and developmental problems across the globe. In many of the world's poorer countries, multinational corporations have a greater capacity to administer educational and medical services, feed and clothe populations, and ensure that rights are respected than do the governments who rule those countries.

The conventional use and widespread acceptance of the concept of corporate social responsibility has only become more popular globally in the course of the last decade. The whole notion fuses questions of accountability and ethics with that of tr
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