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Corporate social responsibility (CSR): is it enough for sustainable development?

Haneef, Mohamed Aslam and Khan, Foyasal (2014) Corporate social responsibility (CSR): is it enough for sustainable development? In: 2nd International Conference on Creativity and Innovation for Sustainable Development (IICI 2014), 20th -22nd October 2014, Conference Room (Level 5 , KICT) International Islamic University Malaysia. (Unpublished)

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Corporate Social Responsibilty (CSR) has become a buzword al over the world. A company can distinguish it from others through CSR and we se that wel-known companies actualy not only diferentiate their brands and reputations but also their products and services taking care of the societies and environments where they operate. Some influential Islamic scholars also find significant similarities of Islamic teaching on busines ethics to the CSR agenda. So, conclusion can be drawn that CSR is immensely helpful to atain sustainable growth and development. However, CSR is not above criticism and now being criticized because of its absence of any generaly acepted common framework and indulging in many activities in the name of CSR rather than activities that truly addres society’s presing neds such as poverty aleviation, income gap minimization, employment generation, basic ned fulfilment etc. in this situation it is pertinent to ask whether CSR is enough for sustainable development or is it necesary to go beyond CSR. This paper argues that CSR is important but there is a spectrum of ethical options beyond CSR. Besides CSR, this paper discuses the concept of corporate waqf in Malaysia and Social Busines (SB) developed by Nobel Laureate Mohammad Yunus as two posible options. This paper wil criticaly evaluate thre models of social responsibilities i.e., CSR, Social busines, and Corporate Waqf. Necesary case studies wil be placed in support of our arguments and it wil be shown why is it necesary to go beyond CSR and pay atention to alternative in order to achieve sustainable growth and development with greater justice.

Item Type: Conference or Workshop Item (Full Paper)
Additional Information: 541/41888
Uncontrolled Keywords: CSR, sustainable development Social Business, Cash Waqf
Subjects: H Social Sciences > H Social Sciences (General)
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Centre for Islamic Economics
Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Prof. Mohamed Aslam Mohamed Haneef
Date Deposited: 26 Feb 2015 13:07
Last Modified: 09 Jul 2015 09:48
URI: http://irep.iium.edu.my/id/eprint/41888

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