Social Responsibility Theory is a concept that has been widely discussed and debated in various fields such as business, ethics, and sociology. It refers to the idea that organizations have an obligation to act in the best interests of society as a whole, rather than solely for their own profit.
The basic principles of Social Responsibility Theory were first summarized by Howard R. Bowen in his book ‘Social Responsibilities of the Businessman’, which was published in 1953. Bowen was an American economist and a pioneer in the field of Corporate Social Responsibility (CSR).
In his book, Bowen argued that businesses have a responsibility not only to their shareholders but also to all stakeholders including employees, customers, suppliers, and the community at large. He believed that businesses should strive to balance their economic objectives with their social obligations.
Bowen’s work laid the foundation for future research and discussions on CSR. His ideas were further developed by other scholars such as Archie B. Carroll, who introduced the concept of four responsibilities that businesses have towards society: economic, legal, ethical, and philanthropic.
Today, many companies around the world are embracing CSR as a core part of their business strategy. They are recognizing that by acting responsibly towards society and the environment they can create long-term value for themselves and for all stakeholders.
In conclusion, Howard R. Bowen was the first person to summarize the basic principles of Social Responsibility Theory in his book ‘Social Responsibilities of the Businessman’. His ideas have had a significant impact on how we think about corporate social responsibility today. As businesses continue to face growing pressure from consumers and regulators to act responsibly, it is likely that CSR will become even more important in shaping how companies operate in the future.