Russell (2010) illustrates that the CSR by segmenting businesses and society, stating that the CSR ‘are more practical, localized and more often focused on sustainability.’CSR is a wide field, and a number of theories have been applied in the field. According to the study of Klonoski (1991) divides CSR theories among three different categories, that is, the first group, Fundamentalism, encompassing of all the theories stating that corporations have no social responsibilities or have a very limited one. The second is Moral Personhood and Moral Agency; it states that the organization is ethically responsible for their action. The third is the Social Institutions that have been extensively debated throughout the times, it states ‘corporation’ as a social institution and therefore, the corporation has social responsibilities. Garriga and Mele (2004) categorize CSR theories on the basis of social reality that is 1) Instrumental Theories: Corporation is the wealth creation elements in the society and the social activities are only accepted with the continuous creation of wealth (shareholder value approach) 2) Political Theories: Under the power the political arena corporations accept duties and rights to participate in the social activities. . Corporate Social Responsibility.
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