By Isabelle Maignan and David A. Ralston. Journal of International Business Studies, Vol. 33, No. 3, (3rd Qtr., 2002), pp. 497-514.
In spite of the many definitions of CSR advanced in past research (e.g., Swanson, 1995; Wood, 1991), much debate remains as to the exact nature of this complex concept (e.g., Rowley and Berman, 2000). Wood (1991, p. 693) integrated much of the previous work in an acknowledged definition of corporate social performance as the "configuration of the principles of social responsibility, processes of social responsiveness, and policies, programs, and observable outcomes as they relate to the firm's societal relationships." Wood's (1991) approach has been complemented by advocates of the stakeholder view of the firm (e.g., Clarkson, 1995; Maignan, Ferrell, and Hult, 1999; Wood and Jones, 1995) who argue that businesses are not responsible toward society in general, but only toward their stakeholders. Integrating these two views, we propose that a firm committed to CSR has principles and processes in place to minimize its negative impacts and maximize its positive impacts on selected stakeholder issues.
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