BizSugar.com › Strategy › The Bottom Line of Corporate Social Responsibility

The early 2000s was a bad time for corporations, marking the turning point for the reputation of the entire sector. The downfall of businesses began with the Enron scandal in October 2001, and the subsequent witch-hunt revealed massive corporate fraud across an impressive array of companies. Corporations were never to be seen in the same light again – their credibility in society plummeted, never to reach the heyday of the 50s and 60s. Repercussions were also severe for Enron, their investors, customers, and suppliers rapidly changed their willingness to do business with the firm once the fraud was exposed.