Definition of Corporate Social Responsibility as a Management Philosophy Oriented towards the Management of Externalities: Proposal and Argumentation

Abstract

[EN] The purpose of this paper is to contribute to the theoretical discussion on the best way to define Corporate Social Responsibility. The methodology used is a bibliographic review through a search for articles in different catalogues (Redalyc, Ebsco, JStor, SAGE, Science Direct, and Springer), focusing on articles that addressed the study of definitions of this concept. The different ways of defining it are identified and analysed in order to find a definition can encompass all the others. The paper also proposes that locating this concept at the level of management philosophy (and not simply as a desirable or expected behaviour) facilitates the construction of agreements around a consensual definition, unlike under the predominant behavioural approach of its conceptualisation as corporate behaviour. The paper concludes by proposing to define Corporate Social Responsibility as a management philosophy based on the responsible management of the company’s operational externalities on stakeholders, society, and the environment. It is concluded that this definition contributes to the theoretical discussion, strengthens empirical research, and improves the application of Corporate Social Responsibility in the corporate world.