Is corporate social responsibility just a new trend or is it the Essay

Is corporate social responsibility just a new trend or is it the modern business modus operandi - Essay Example The author reckons that the best practices in modern business, variably referred to as â€Å"dominant coalition† play an important role in the identification of the appropriate combination of practices such as a strong and informed management. Great strides have taken place in ensuring that contributions in the social process are central in the definition of corporate goals. Corporate responsibility has therefore evolved to accommodate corporate social responsibility, which is more responsive of the social needs of the workforce as well as the surrounding society. Making the needs of the society an integral part of wealth creation in the modern corporate world shapes business at the highest community involvement level, by responding to social process in a sensitive approach. In this discourse, corporate social responsibility (CSR) is analyzed in terms of its modern and future usage in the corporate world, paying a special interest on its origins, applications, approaches, and interpretation. Flanked by a clear view of its impacts on decision making, the discourse ends by making inferences from the various perspectives (Money 2007, p1). In view of the basic observations contained in the paper, it is clear that CSR and its related business applications in the corporate world is perhaps one of the most dynamic machineries at the disposal of management. CSR can be traced back into the 1960s as a modification of corporate responsibility, which was an approach taking a corporation’s business targets off the usual and direct business players. In light of the roles of the philosophy behind establishment of CRS practices, it is clear that business objectives had to be shifted from purely business nature to incorporate some social aspects. According to Salzmann (2008, p8), contribution from scholars in the 1960s gave momentum to the CSR field as an emerging discipline in the corporate environment. The author reckons that the Bowen and McGuire through their contributions