Word Count : 1204

---

Corporate Social Responsibility (CSR) has become an integral part of modern business philosophy, emphasizing that corporations are not only economic entities but also social institutions with obligations to a range of constituencies. Over time, two broad perspectives have emerged in the understanding and practice of CSR: the shareholder-centric model and the stakeholder-centric model. Both models seek to define the purpose of business and its moral responsibilities, yet they differ fundamentally in their focus, objectives, and ethical underpinnings. A clear distinction between these two approaches reveals divergent views on corporate purpose, accountability, and ethical responsibility in the business world. The shareholder-centric CSR model is rooted in classical economic theory and finds its strongest philosophical foundation in Milton Friedman’s argument that “the social responsibility of business is to increase its profits.” According to this view, corporations exist primarily to serve the interests of their owners or shareholders. The central duty of management, therefore, is to maximize shareholder wealth within the boundaries of the law and ethical custom. CSR activities under this model are justified only to the extent that they contribute to long-term profitability or shareholder value. In this framework, ethical behavior and social responsibility are seen as instrumental means to an end—enhancing corporate reputation, building customer loyalty, avoiding legal penalties, or securing sustainable market positions that ultimately lead to higher financial returns. For example, a company might invest in environmental sustainability initiatives not necessarily out of a moral commitment to ecological preservation but because such efforts reduce costs through energy efficiency, attract environmentally conscious consumers, or pre-empt stricter government regulations. Similarly, corporate philanthropy might be undertaken as a strategic marketing tool to improve brand image and thus boost sales. In essence, shareholder-centric CSR tends to view social and ethical commitments as extensions of business strategy rather than as moral imperatives. The ethical ________ __________ __________ _______ ____.
_______ _________ __________ ______ ____ ___ ___ ___ ______ __________ _______.
________ ______ __________ ______ ____ _________ _______ __________ _____.
____ _____ _________ _______ _______ ________ _____ ________ _____ _________ ________.
______ _______ _____ _______ _____ _______ _____ ___ ______ ___ ___.
__________ __________ _____ __________ __________ _________ ____ _______ ______ ________ __________ _____.
___ __________ __________ _____ _________ _______ _____ _______ _________ ________ ________.
______ ______ ________ ______ ___.
________ ______ _______ _____ ______ _____ ___ _______ ______.
___ ________ _________ ____ _____ __________ _________ _________ ___ _______.
____ _______ ___ _________ ______ ________ ______ _________ ________ ______ __________.
___ __________ ________ _____ ___ ________ ____ _______ _____ ____ _______ _________.
_____ ___ ______ _____ _____ _______.
_____ _______ ______ ______ _________ _______ __________ _________.
____ _______ __________ _________ ________ ____.
_________ _____ _________ ________ ______ ______.
____ ________ _____ ____ ____ ______ __________ ___ _____ __________.
________ ________ _______ __________ _______.
____ ___ ____ __________ __________ _________ _____.
____ _______ _____ ___ ________ ___ ________.
___ ______ ____ _______ _____ _____ _____ _____.
_____ _____ _______ ______ _____ _____ ________ ______ _____ ______ _____ _____.
____ _________ ________ ____ _________ ___ ________ ________ ___ _______ ________.
_____ ____ _______ ____ ____ _____ ____ _______ ______.
________ _____ _________ ___ _______ _____ ________ ___ ______ _______ _____ _____.
_______ __________ ________ _________ __________ ___ __________ _________ ________ _____.
_________ _____ ________ __________ _________ _________.
_________ ____ _________ ____ ______ ________ ______ _____ ____ ___ _________.
_____ ______ _________ _______ ___ ____ ________ _____.
____ ___ _________ ______ ____ ________ ________ ______ ___ __________.
__________ __________ ______ ____ ______ _____ ______.
_____ ______ __________ _________ __________ _______ _______.
_________ __________ ______ __________ ____ ______ _________ __________ ____.
_______ _________ ___ ___ ________ __________ _____ _____ ___ ________ _________.
_____ ____ __________ ___ _____ ______ _____ ____ ______.
___ _____ _______ ___ _________ _________ ___ ______ ____ __________.
____ ____ ____ _______ ________ __________ ____.
_____ ___ ______ _____ ____ ____ ______ ______ _________.
_________ _____ ____ ______ _________ __________ __________ _________ ___ __________ _____ ___.
_____ _________ _________ _______ ________ _______ ________ _______.
___ _________ _____ __________ ______ _______.
________ ________ ___ ________ __________ ____ __________ ___ _____.
______ _________ ______ _____ _____ _________ ________ _____.
__________ ___ ____ _______ ______ ______ ________.
_______ _____ _____ ______ __________ ___ __________ ________ ___ ____ __________.
_______ _________ ____ ___ _________ ___.
________ ________ _______ ________ ________ ______ _________ _________.
____ _________ ______ _________ ___ __________ ___ _____ _____ ________ ____ _______.
___ ____ ________ ________ ______ ____ ___.
______ ________ __________ ___ ____ _____ ____ ___ _____ ___ ______ _____.
______ ____ _______ ________ _____ _________ _________ ___ ______ ____ ____.
_________ ________ __________ ___ _______ __________ _____ _______ ____.
__________ ______ ____ __________ ____ ___ ___ _________ _______ _______.
_______ ______ ________ ______ ______ ____ _____ _________ _____.
____ _____ _______ ____ ___ ______.
______ ______ __________ __________ ________.
_______ ________ _____ _______ ___ ________ ____ ___ __________ _________ _____ __________.
______ _______ _____ ________ __________.
__________ _______ _________ ________ ______ ______ ________ ________ ________ _________ _____ __________.
_________ _____ _________ ________ __________ _________ _____ ______ ________ ____ _______ _________.
_________ _____ _____ __________ ______ _____ __________ ________ _______ __________ _____.
___ _________ _________ _________ ______.
______ ___ _______ _____ _________ ________ _______ ________ _____ __________.
____ ______ _____ ___ ________.
_______ ______ ______ ___ __________ _________ _______ ____ ______.
_______ _______ ________ ________ ____ ______ ____ ___ ____ ___.
_________ ______ ___ ___ ____ _____ _______ ______.
______ ______ ____ ____ __________ _________ ___.
_________ ______ ________ _________ _________ ______ ________.
________ __________ __________ __________ _____ ________ _________ ____ __________ ______.
______ _____ ___ _______ _______ __________.
_________ _________ __________ ________ ________ _________ ___ ______ ________ ______ ________.
____ __________ ______ ___ ________.
__________ _________ ______ _________ _______ _______ __________ ________ ___ ________ _______.
_____ _____ ________ _____ ___ _________ _____ _____ ______ _________ ____.
________ _____ _______ __________ ___ ____.
__________ ____ _____ _______ _____ _________ ______ _________ _________.
_________ ______ _______ __________ ___ ___ ________ _______ __________ _____ ______ __________.
_____ __________ __________ __________ _____ ___ _________ ____ ____ ________ _______ ____.
_____ ____ __________ ________ _____ ___ _________ ___ _______.
____ _________ __________ __________ _______ ______ ____ ____.
__________ _________ _____ ________ ___ ________ ____ _________ ____ ____ ______.
__________ _________ _______ __________ _____ ____.
________ __________ ________ ______ ______ ___.
________ ___ _______ __________ _________ _____ _________ ____.
________ _________ _________ ______ _________ __________ _____ ________ _____.
______ ______ ________ _______ ___ ____ __________.
___ _______ __________ _______ ______.
____ _______ ________ ________ ____ ___ ________ _______ ________ __________ _________.
__________ _________ _____ _________ _______.
________ ______ ________ _____ __________ _________ ______.
_______ _______ __________ _________ ____ _______ _________ ___ _________ ________.
____ __________ ______ ________ ______ __________ ________ _____ ______.
____ __________ ________ _______ ____.
_________ _______ ____ _________ _________ ___ _______ _______ ____ __________ ______ ____.
_____ ________ ______ _______ _____ _____ _______ ____.
_______ ______ ___ ________ ____ ____ _________ _______ _______ _____.
_______ ______ ______ ___ ______ _______ ________ __________ ______ _________ ____.
_________ ___ _______ __________ _________ ________ _________.
___ _______ __________ ______ _______ _______ _________ ___ _____ ___.
___ _________ _________ _________ _______ ______ _______.
______ __________ ________ ___ ______ ______ _________ ______ ________ ________.
________ _____ ____ ________ _________ _______ ___ _____ ___ ___ _____ __________.
Get Full Answer on WhatsApp