Volume: 2010

Issue: 01

Author(s):

Krisztina Szegedi

Article title:

The Concept and Development Tendencies of Corporate Social Responsibility

Journal:

Theory, Methodology, Practice

Pages:

67-74

Keywords:

JEL-code:

DOI:

Abstract:

The expression Corporate Social Responsibility was first used in the United States of America in the
1960s. This triggered a nationwide debate about the responsibilities corporations have towards
societies. The most criticized statement belongs to Milton Friedman, a Nobel prize winner, who
said, "The social responsibility of business is to increase its profits."[1] This means that there is only
one responsibility of business, namely to use its resources and to become engaged in activities in
order to target increases in profits. The past few decades have brought about a lot of changes.
According to a survey published recently, which encompassed over 100 countries, the majority of
managers polled said it was not enough if corporations generated high returns to investors but this
should be balanced with contributions to the broader public good. [2] In the background of the
empirical results lies the fact that growing numbers of corporations realise that the business world
is not an isolated area, but is closely linked with, and strongly related to, its narrower and wider
environment and ultimately to societies and the natural environment.

Bibtex entry

{
@ARTICLE { TMP201001-67,
AUTHOR = {Krisztina Szegedi},
TITLE = {The Concept and Development Tendencies of Corporate Social Responsibility}
JOURNAL = {Theory, Methodology, Practice},
VOLUME = {5},
NUMBER = {01},
PAGES = {67-74},
YEAR = {2010}
}

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CC-BY
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