Explain what coroprate social responsibility is and its effect on globalisation

CORPORATE SOCIAL RESPONSIBILITY Globalisation of the world economy is underway, and various groups, including national governments, multinational corporations and international organisations such as the World Trade Organisation, are promoting this. However, globalisation should not be detrimental to the welfare of society. As we have moved into the global market, there is an abundant supply of labour. Capital and free trade have expanded the possibilities. Some industries e.g. textiles, have moved from country to country …

…conducted by Spence and Loranzo (2000), concluded that it was inappropriate to impose large company CSR practices upon an SME. Even in a scaled down version these practices may not work as SME's face different issues and environments. SME's are faced with the challenges of CSR both from the perspective of an outsider and as a supplier. As a result, there is a need to develop socially responsible guidelines to aid them in the outsourcing decision.