Milestones in forging the contemporary perception of CSR. An overview

Abstract

Acting in a socially responsible manner did not simply materialize in modern times. Social Responsibility has been of concern to mankind since antiquity, being intertwined with the need to help people whose economic and social circumstances may be dire. Adam Smith was the first to introduce the notion of ethics in economic theory while at the beginning of 1920s, the first samples of corporate social responsibility came as a result of social action by enterprises at the time. First, Howard Bowen highlighted CSR in the context of academic research in 1950 whereas in 1992, at the Rio Summit where the representatives of 178 nations gathered, the natural environment got associated, first time ever, with the notions of economic and social development, thus triggering an entire period of developments in the field of CSR. What followed, over the years leading up to date, were actions, decisions and formal initiatives that forged, to a great extent, the perception of CSR. This article points to the most important landmarks of the whole itinerary of CSR and its eventually becoming an institution. It, moreover, provides field researchers with a tool to describe, analyze and proceed with a comparative evaluation of different periods and events.

Keywords

• corporate social responsibility; csr; economic development; environmental economics; social economy