The United Nations Industrial Development Organization

The United Nations Industrial Development Organization(UNIDO) defines ‘Corporate Social Responsibility’(CSR) as â€Å"a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders†. The term is explained through a â€Å"Triple-Bottom-Line Approach† as being the way through which a company achieves a balance of economic, environmental and social imperatives (â€Å"Triple-Bottom-Line†) while at the same time addressing the expectations of shareholders and stakeholders (Elkington, 1997). This approach assumes a very significant light in today’s dynamic world where every aspect of life is inter-connected in a very mysterious fabric, where the alteration of one can affect the others in ways beyond comprehension. Corporate Social Responsibility, both as a term and concept, started becoming popular in the 1960s, when industrialization which sprouted in the Indu strial Revolution was fixating its roots all across the world. Industrialization can be defined as the â€Å"period of social and economic change that transforms a human group from an agrarian society into an industrial one†. Just like the correlation and dependence of the various aspects of life with each other, it is seen that CSR and Industrialization shared their space of mutual effects as well. This paper aims to present a historic view on CSR, based on the trends and influencing factors, related to the booming of industrialization. The notion ofShow MoreRelatedHigh Efficiency Technology And Its Impact On Economic Development1407 Words   |  6 PagesHigh-efficiency technology has higher startup costs, but loans on a far smaller scale than historic stimulus packages can offset these costs. 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