over forty years have passed since Milton Friedman (1970) declared that the only social responsibility of a business is to maximize profit, but the business world is seemingly shifting away from this point of view. More and more players in the business sector proactively or reactively
(in reaction to consumers and other stakeholders growing demand) now realize that, in addition to maximizing profit, they have legal, ethical and social responsibilities (Carroll, 1979) and an obligation to manage the needs of various stakeholders, not just their shareholders (Freeman, 1984).
A useful definition of corporate social responsibility (CSR) was presented by Aaronson (2003): Business decision making linked to ethical values, compliance with legal requirements, and respect for people, communities, and the environment around the world (p. 310).