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History of and Perspective On Corporate Social Responsibility
History of and Perspective On Corporate Social Responsibility
O N C O R P O R AT E S O C I A L
RESPONSIBILITY
HISTORY OF CORPORATE SOCIAL
RESPONSIBILITY
• During the ancient times, people believe that businessmen and wealthy people should do
business to the community as part of public social service.
• The Greek and Romans treated businessmen next to slaves. Businessmen were pressured by
society. The elite of the society condemned businessmen, criticizing them for utilizing their
money for profit and not for service to the community. In the absence of a standard of morality
to follow, they were denounced by the upper classes of society.
• Criticisms against the evil of business came far and wide during the medieval period when the
catholic church became the most powerful institution in Europe. The Catholic Church does not
trust the business system and deemed profit- motive as anti- Christian believing that merchant
never seldom pleases God.
HISTORY OF CORPORATE SOCIAL
RESPONSIBILITY
• It was St. Thomas Aquinas who justified that business could exist as long as it was used for
good of the community.
• During this period, the practice of social responsibility in business produced good results. St.
Thomas Aquinas was responsible for introducing the concept of “compensatory justice” which
maintains that prices and wages should be fair. Because of this and despite the poverty
experiences, people in 1500s enjoyed a standard of living in Europe, which never happened in
the next 300 years that followed.
CSR IN THE PHILIPPINES