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Review of Literature Social responsibility is a fairly old concept which took on new life in the 1960s. Corporate critics who questioned corporate performance, and even the legitimacy of corporate business, called for and got increased government control of business. Social responsibility became the “self‐control” alternative as criticism of business continued to grow. In general, social responsibility means that a private corporation has responsibilities to society that go beyond the production of goods and services at a profit (Davis, 1960; Starling, 1984). Many definitions go beyond this one and require more specific activities from corporations. Acceptance of social responsibility as an appropriate description of the business‐society relationship implies that the corporation's broader constituency includes not only stockholders but also other societal groups such as customers, employees, suppliers, and neighbouring communities.

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