CSR
Let’s look at the traditional view of economy & business and the backround of the emergence of CSR.
Traditional view in economics and business is that a company should maximize profit under budget constraint.
In 1950s and 60s, however, firms began to pay attention to social responsibility. In 1970s, social, environmental, and regulatory issues received attention from the public, making companies become aware of the positive and negative impact of their business on the rest of society. After 1980s. companies began to use CSR to build good reputation and differentiate themselves from competitors.
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