The concept of ‘corporate social responsibility’ became popular during the 1960s, which is considered to be the period of business awakening. Organizations during this time realized that all their actions in some or the other way does have an (negative) impact on the society and in order to account for these actions, the organizations must take up certain steps (Gini, Al. 1998). After 1960s, Kirk Russell proposed a new theory by extending the knowledge of corporate social responsibility. He stated that like every human right is associated with a duty that needs to be performed; in the same way every freedom/ profit or gain made by an organization is associated with a corresponding responsibility that the organization has towards the society. William C. Frederick was also considered as an early contributor to the concept of social responsibility. His definition of social responsibility meant to include that businessmen should oversee their business economic systems by all means available to them. However in doing so they should also ensure that the expectations of the public are fulfilled in various ways. The means of production should enhance the socio economic welfare of the environment or the society that it operates in. This form of social responsibility argument therefore implies directly that societal resources being used by a company should not be used to serve the interests of the company alone but must also have a defined public stance (Frederick, 1960).