Corporate Governance and Corporate Social Responsibility The paradigm of management evolution

Abstract

The paper attempts to trace the development of corporate governance as an extension of management thought. This is studied from a historical perspective to see how the different corporate governance system has emerged in the context of historical background, technology and political as well as economic structure. The corporate social responsibility as included in corporate governance has emerged as the societal need. As corporate play a pivotal role in influencing the shape of society. The broader perspective of sustainable development integrating the corporate governance, corporate social responsibility and social environment is emerging as an international level. The major difference in the Anglo-American, European system of corporate governance, Japanese and German system are to be understood in this context. The paper first explains the evolution of management thought and then studies the emergence of corporate governance in different places and relates it to as an extension of management thought and then corporate social responsibility as an manifestation of the integration process.