Opponents to CSR claim CSR to be outside the shareholders
best interest and that the only social responsibility a
firm has is to maximize profit for its owners (Friedman
1970). CSR opponents continue to repeat the view that
firms should not engage in CSR due to uncertain financial
effects or as a potential distraction from a firm’s business
focus (KPMG 2011; Wood 2010). One area that the
opponents and proponents agree upon is that profit arises
from successful interactions with their primary market
stakeholder—their customers. However, CSR proponents
both address the economic argument and lack of business
focus by arguing that immediate impact should not be
sought (Carroll and Shabana 2010) as reputation just like
branding takes considerable time to create and achieve.
Research suggests that CSR instead should be viewed in a
broader, holistic and long term perspective covering more
than immediate financial performa