Corporate Social Responsibility 6
activities to enhance the welfare of society since societal infrastructure offer markets for the
products. Notably, Aguinis & Glavas (2012, p.31), observed that corporates and society are
critical players in the economic ecosystem and their interaction should complement each other.
2.3 Company’s perspective
As opposed to 1940’s, companies are now engaging in CSR at different levels such as
contributing to societal development projects, maintaining ethical standards and safeguarding the
environment (Hopkins, 2012). According to the Global Reporting Initiative, more than 4,500
companies are engaging in CSR each critical issuing reports on its role in the development and
social welfare of the society (Suliman et al. 2016,p15). Further, in 2016 Economist online survey
observed that 60 per cent of notable companies had embraced social responsibility and that
demonstrates their commitment towards the community. Research indicates that shared value
idea influences organizations that are dedicated to CSR practice.
However, Romano (2017), notes that CSR is based on reasons beyond shared value idea.
Such an approach according to Hopkins (2012), connotes that an enterprise can use CSR as a
marketing tool which is to the advantage of the company and the society. Aguinis & Glavas
(2012, p.12), observed that CSR is also founded by the company owners human side. In this
regard, corporate leaders feel the compulsion to give back to the society which they are the part.
According to Hopkin (2012), private companies are more likely to engage in CSR than
public-owned firms since they have a higher liberty to allocate resources for charitable work.
Moreover, large private companies have created departments responsible for CSR indicating that
the endeavour is essential for the businesses. Furthermore, most manufacturing companies
realize that their production mostly impacts the environment through pollution and disposal of