Outline and discuss the evolution of CSR( Corporate Social Essay

Outline and discuss the evolution of CSR( Corporate Social Responsibility), including its history, role in the financial crisis and prospects for the future. Support your answer with examples - Essay Example 141). However, there are some people who prefer to remain silent. Despite this variation, the final objective of a decent and humane society has been acknowledged as one in which the corporate sector sustains the environment and conserves resources (Robins, 2008, p. 337). Moreover, CSR has the capacity to contribute to the environmental and social sustainability of business (Manske and Frey, 2006, p. 11). With regard to businesses that apply emerging technologies, the forestalling and management of the wider social impacts of these technologies assume importance. A number of enabling technological solutions have been facilitated by nanoscale science and technology (NST). These solutions could result in unprecedented innovations in several sectors of the economy, such as healthcare, electronics and sustainable energy (Groves et al., 2011, p. 525). As a consequence of this potentiality, NST has raised concerns regarding its ethical, legal and social influences (Frewer et al., 2011, p. 271). There are several issues related to nanotechnologies, and attempts to address these problems have been limited. For instance, there are important knowledge gaps regarding the probable effects of nanomaterials upon the environment and health. Moreover, nanomaterials derive their importance from several traits. One of these is their enhanced reactivity. Some of these characteristics can produce negative consequences on accidental release and exposure to these substances (Groves et al., 2011, p. 525). The early definitions of CSR had focused upon what constituted the social responsibility of a company, and the reasons for rendering them socially responsible. These definitions had also regarded CSR to be the same as the philanthropic and voluntary acts of business organisations that had been aimed at addressing the drawbacks in society and at benefiting the disadvantaged sections thereof (Mishra and Suar, 2010, p.