Introduction

Corporate Social Responsibility(CSR) has existence for over 70 years. It has been in practice in many
countries and studied in academia around the world. It is not a universally adopted concept and
understood differently in spite of pressure for its incorporation into business practices(Freeman &
Hasnaoui, 2011). It has been defined differently in the past based on the social, economic, political and
environmental context of those periods(Rahman, 2011). However, World Business Council for
Sustainable Development defines it "a continuous commitment of a business ethical behavior to
contribute to economic development and to improve the quality of life of the workforce, their families,
local community and society at large"(Watts, Holme, International, & Tinti, 1999).Similarly, The Green
paper defines it "a concept through which companies integrate social and environmental concerns in
their businesses operations and their interactions with their stakeholders on voluntary basis due to
increasing awareness that responsible behavior leads to sustainable business success"(Commission,
n.d.).