Corporate Social Responsibility: Theoretical Discussions

Abstract

Organizations, as integral parts of a society, must conduct themselves with the higher standards of legality, ethics, decency and corporate citizenship. This is to exceed the higher expectations of a given society. The modern day rapidity of social media and journalism, together with widespread global scope, make it necessary for organizations to be ever so vigilant, careful in their conduct. It calls for increasing standards of internal communication and training so that their employees meet and exceed the rising societal and stakeholder expectations. In the case of an MNC or global organization, the social responsibilities goals and strategies would depend upon a foreign subsidiary’s host country needs and expectations, and, overall MNC’s and foreign unit’s resource capabilities. This issue is important in determining the sustainability and scope of social responsibilities goals and strategies. The stakeholder approach is important. Stakeholders of the MNC as a whole, and, those of each foreign subsidiary unit are together important in this regard.