INTEGRATING TRADITIONAL AND UNCONVENTIONAL CSR THEORIES AND MODELS – A THEORETICAL

Abstract

The surge in financial scandals, widening gaps in social inequality, increasing political and financial muscle by MNC’s, global uncertainties as well as environmental degradation has put the spotlight on firms to strengthen their involvement and be sensitive to socially responsible activities. It is here where Corporate Social Responsibility (CSR) acts as an effective tool, bridging the gap between the growing public perception of the company’s social role and its conduct thus improving its competitiveness, thereby translating into an indispensable, potent and legitimisation strategy for the long- term success and survival of companies. The main aim of the paper is to elaborate on the theories underlining CSR to disseminate a more comprehensive perception that integrates behavioural and operational aspects of corporate endeavour, thus giving birth to various unconventional CSR models, both of which offers a structured and systematic overview on how to embark on CSR decisions given the fact that each organisation is distinct in its own aspects with respect to the resources the possess, the management mentality, overarching aims, global uncertainties and the jurisdiction they belong to. The paper makes a significant contribution to CSR research by offering an inclusive read on the theoretical underpinnings as well as models developed by academicians and Internationally recognised organisations at one glance, thus enabling organisations to first choose an appropriate theoretical stance which is in lines with their organisational policy and later employ corresponding models which aligns both with the theory and organisational structure.