Prof. Dr. Alba Dumi1
Dr. Gerti Dajci2
Authors country of origin: Albania1/2
Institutional affiliation: 1Vice Dean at Tirana Business University, 1/2Head of Management Department at Tirana Business University.
The purpose of CSR is to make managers, consultants, academics, and many non-profit governmental organizations aware and focus on the social, environmental, and ethical responsibilities of business. It is important to understand that corporations are in business for profits, but in accordance with the environment and other respective ethical rules. Milton Friedman once stated that profits are the chief purpose of business. Profits do matter, but today we know more about how business contributes to society. Good firms bring innovation to the marketplace, which facilitates their growth. Innovative, growing firms generate economic growth and employment, which, in turn, greatly improves people’s lives (Ahlstrom, 2010). The concept of CSR is a relatively new phenomenon started in the early 1970’s. As companies have grown to understand the importance of CSR to them as an entity and to our society in general, the relationship between the company’s and its stakeholders has evolved into an understanding of the importance of a comprehensive and meaningful CSR policy. The content of this paper will explore this relationship and the benefits that will accrue to all the parties involved in this partnership. The impact and benefits that CSR policies have on society; the environment; employees, the government regulation, and others related parties will be examined.
Volume 4.No.2(2021): April (Social Sciences Session)
ISSN 2661-2666 (Online) International Scientific Journal Monte (ISJM)
ISSN 2661-264X (Print)
DOI : 10.33807/monte.20211881
DOI URL: https://doi.org/10.33807/monte.20211881
Full Text: PDF
This is an open access article under the CC BY-NC-ND license (creativecommons.org/licenses/by-nc-nd/4.0/)