Corporate social responsibility in the era of globalization: Balancing profitability and sustainable practices
Keywords:
Corporate social responsibility; CSR’s pyramid; content analysis; Pakistan.Abstract
The main purpose of this study is to observe the order and urgency of various dimensions & indicators used for expression of corporate social responsibility (CSR), specific to Carroll’s pyramid. Quantitative technique was applied through content analysis to measure the variables of the study within corporations operating in Pakistan. It was observed that enterprises in Pakistan prioritize the economic and legal activities (as expected), however, unlikely, the ethical dimension was least disclosed as compared to philanthropic. CSR’s indicators relevant to financials, customers/products, human resource and environment were disclosed more; however, sport was almost ignored by all the enterprises. In addition, a minute but gradual increase in the level of CSR was noticed in the sample period. Due to irregular patterns, this study signals =that CSR is not a universal phenomenon which was judged by applying Carroll CSR’s pyramid. Local institutions (formal and informal) should set together, develop mutual consensus about the concept of CSR and establish a win-win situation, which is acceptable to stakeholders and corporations simultaneously.
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