Corporate social responsibility or corporate social irresponsibility: Where should be the focus?

With multiple scandals and a host of disingenuous actions creating ripples across the corporate world, it is high time that Corporate Social Irresponsibility (CSI) is accorded the due importance, at par with Corporate Social Responsibility (CSR), by academia and the industry. CSI refers to situations wherein firms fail to meet a “minimum behavioral standard with respect to the corporation’s relationship with its stakeholders”. There have been many instances wherein CSI and corporate wrongdoings have been covered up with CSR. Many scholars consider CSR and CSI as opposite forces that are interconnected and interdependent, and take turns in giving rise to each other. CSI, being an emergent and a topical subject area, is yet to develop in terms of theory, and is still evolving. The present work attempts to motivate further investigation in the emerging area by presenting theoretical views and available accumulated empirical works. The study has puts across a fair view of the topic. It is expected that the present work will stimulate scholars to take up further investigation in the emerging area.