Sarwar M. AzharRubeena Tashfeen2011-08-012011-08-012010Interdisciplinary Journal of Contemporary Research in Business, September 2010, Vol .2, No. 5, pp 468-484https://escholar.umt.edu.pk/handle/123456789/166This paper presents Corporate Social Responsibility (CSR) within the matrix of other regulatory concepts voluntary or legalistic, such as Corporate Governance, Business Ethics and others that focus on appropriate managerial behavior. It further suggests that this nascent construct, to become a viable operational concept worth pursuing with diligence in a developing country, rather than become a cover up for the negative consequences of capitalist pursuit of profit, must be contextualized. The paper also presents the normative, instrumental and empirical approaches to the subject and suggests that only when we are clear on the approaches should we draw up the research agenda. The paper further suggests that the focal point of any enlightened assessment in the area of CSR in a developing country should be the takeholders. Research is necessary, among other areas to understand where the stakeholders in the form of public opinion and not mass opinion stand on the issues, what the priorities are, what the role of the government should be and who should be finally responsible.enCorporate Social ResponsibilityBusiness EthicsCorporate Social BehaviorCorporate GovernanceStakeholder TheoryPublic OpinionArticle