Manag., December-2019 – Q31
- Option : A
- Explanation : Corporate social responsibility focuses on what an organization does that affects the society in which it exists. In simple words, it answers ‘how should we live in relation to other’. The evolution of the concept of social responsibility can be traced back to 1899 when Andrew Carnegie; founder of conglomerate U .S. Steel Corporation, published a book entitled ‘The Gospel of Wealth’. Carnegie emphasized on two principles—the ‘Charity principle’ and the ‘Stewardship principle’. Both of these saw business owners in a parent-like role to childlike employees and customers who lacked the capacity to act in their own best interests. Charity principle required the more fortunate members of society to assist its less fortunate members; while stewardship principle, required businesses and wealthy individuals to view themselves as the stewards, or caretakers of their property. However, it was only as late as 1930, did executives in large numbers take an independent interest in the social impact of business.
