Changing Logic of Corporate Responsibility in a Globalized World

Abstract

There is much ongoing debate about the responsibilities of the business community. However little helpful is being said about the fundamental question that why should corporations be responsible? So far attempt has been made to ground responsibility in a litany of the duties of business and duties of managers that rest either on their enlightened self-interest that extend beyond the narrow conception of self-interest or on the fact of community pressure. However these talks about business responsibility are deprived of any moral obligation of business. This paper was set out with the modest purpose to explore the possibilities of forging common ground between philosophical moral theories and corporate social responsibility (CSR).  It was argued thatin the new globalized world the traditional notion of economic responsibility is no longer adequate and very notion of moral responsibility need to be rethought to comprehend the notion of corporate responsibility.