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Corporate social responsibilityFrom Wikipedia, the free encyclopedia

Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social

performance, or sustainable responsible business/ Responsible Business)[1] is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanismwhereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, andinternational norms. CSR is a process with the aim to embrace responsibility for the company's actions andencourage a positive impact through its activities on the environment, consumers, employees, communities,stakeholders and all other members of the public sphere who may also be considered as stakeholders.

The term "corporate social responsibility" came into common use in the late 1960s and early 1970s after manymultinational corporations formed the term stakeholder, meaning those on whom an organization's activities havean impact. It was used to describe corporate owners beyond shareholders as a result of an influential book by

R. Edward Freeman, Strategic management: a stakeholder approach in 1984.[2] Proponents argue thatcorporations make more long term profits by operating with a perspective, while critics argue that CSR distractsfrom the economic role of businesses. Others argue CSR is merely window-dressing, or an attempt to pre-emptthe role of governments as a watchdog over powerful multinational corporations.

CSR is titled to aid an organization's mission as well as a guide to what the company stands for and will upholdto its consumers. Development business ethics is one of the forms of applied ethics that examines ethicalprinciples and moral or ethical problems that can arise in a business environment. ISO 26000 is the recognizedinternational standard for CSR. Public sector organizations (the United Nations for example) adhere to the triplebottom line (TBL). It is widely accepted that CSR adheres to similar principles but with no formal act oflegislation. The UN has developed the Principles for Responsible Investment as guidelines for investing entities.

Contents

1 Approaches2 Social accounting, auditing, and reporting

3 Potential business benefits

3.1 Triple Bottom-Line

3.2 Human resources

3.3 Risk management

3.4 Brand differentiation

3.5 Engagement Plan

3.6 Developing an Engagement Plan

3.7 License to operate3.8 Supplier Relations

4 Criticisms and concerns

4.1 Nature of business

4.2 Motives

4.3 Principles of Corporate Social Responsibility

4.4 Ethical consumerism

4.5 Globalization and market forces

4.6 Social awareness and education

4.7 Ethics training

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CSR Approaches

4.8 Geography4.9 Public policies

4.10 Regulation

4.11 Laws

4.12 Crises and their consequences

4.13 Stakeholder priorities

4.14 Industries considered void of CSR

5 See also

6 Notes

7 References

8 External links

9 Further reading

Approaches

Some commentators haveidentified a difference betweenthe Canadian (Montreal schoolof CSR), the ContinentalEuropean and the Anglo-Saxon

approaches to CSR.[3] And evenwithin Europe the discussionabout CSR is very

heterogeneous.[4]

A more common approach toCSR is corporate philanthropy.This includes monetary donationsand aid given to local and non-local nonprofit organizations andcommunities, including donationsin areas such as the arts,education, housing, health, socialwelfare, and the environment,among others, but excludingpolitical contributions and

commercial sponsorship of events.[5] Some organizations do not like a philanthropy-based approach as it mightnot help build on the skills of local populations, whereas community-based development generally leads to moresustainable development.

Another approach to CSR is to incorporate the CSR strategy directly into the business strategy of anorganization. For instance, procurement of Fair Trade tea and coffee has been adopted by various businessesincluding KPMG. Its CSR manager commented, "Fairtrade fits very strongly into our commitment to our

communities."[6]

Another approach is garnering increasing corporate responsibility interest. This is called Creating Shared Value,or CSV. The shared value model is based on the idea that corporate success and social welfare areinterdependent. A business needs a healthy, educated workforce, sustainable resources and adept governmentto compete effectively. For society to thrive, profitable and competitive businesses must be developed and

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supported to create income, wealth, tax revenues, and opportunities for philanthropy. CSV received globalattention in the Harvard Business Review article Strategy & Society: The Link between Competitive Advantageand Corporate Social Responsibility [1] by Michael E. Porter, a leading authority on competitive strategy andhead of the Institute for Strategy and Competitiveness at Harvard Business School; and Mark R. Kramer,Senior Fellow at the Kennedy School at Harvard University and co-founder of FSG Social Impact Advisors.The article provides insights and relevant examples of companies that have developed deep linkages betweentheir business strategies and corporate social responsibility. Many approaches to CSR pit businesses againstsociety, emphasizing the costs and limitations of compliance with externally imposed social and environmentalstandards. CSV acknowledges trade-offs between short-term profitability and social or environmental goals, butfocuses more on the opportunities for competitive advantage from building a social value proposition intocorporate strategy. CSV has a limitation in that it gives the impression that only two stakeholders are important -shareholders and consumers - and belies the multi-stakeholder approach of most CSR advocates.

Many companies use the strategy of benchmarking to compete within their respective industries in CSR policy,implementation, and effectiveness. Benchmarking involves reviewing competitor CSR initiatives, as well asmeasuring and evaluating the impact that those policies have on society and the environment, and how customersperceive competitor CSR strategy. After a comprehensive study of competitor strategy and an internal policyreview performed, a comparison can be drawn and a strategy developed for competition with CSR initiatives.

Social accounting, auditing, and reporting

Main article: Social accounting

For a business to take responsibility for its actions, that business must be fully accountable. Social accounting, aconcept describing the communication of social and environmental effects of a company's economic actions to

particular interest groups within society and to society at large, is thus an important element of CSR.[7]

Social accounting emphasizes the notion of corporate accountability. D. Crowther defines social accounting inthis sense as "an approach to reporting a firm’s activities which stresses the need for the identification of sociallyrelevant behavior, the determination of those to whom the company is accountable for its social performance

and the development of appropriate measures and reporting techniques."[8] An example of social accounting, to

a limited extent, is found in an annual Director's Report, under the requirements of UK company law.[9]

A number of reporting guidelines or standards have been developed to serve as frameworks for socialaccounting, auditing and reporting including:

AccountAbility's AA1000 standard, based on John Elkington's triple bottom line (3BL) reporting

The Prince's Accounting for Sustainability Project's Connected Reporting Framework

(http://www.accountingforsustainability.org/output/page171.asp)The Fair Labor Association conducts audits based on its Workplace Code of Conduct and posts audit

results on the FLA website.

The Fair Wear Foundation takes a unique approach to verifying labour conditions in companies' supplychains, using interdisciplinary auditing teams.

Global Reporting Initiative's Sustainability Reporting Guidelines

GoodCorporation's Standard (http://www.goodcorporation.com/PDF/standard_2007.pdf) developed in

association with the Institute of Business EthicsSynergy Codethic 26000[2] (http://www.synergy-gss.com/SynergyStandards/Codethic26000.php)

Social Responsibility and Sustainability Commitment Management System (SRSCMS) Requirements —

Ethical Business Best Practices of Organizations - the necessary management system elements to obtain a

certifiable ethical commitment management system. The standard scheme has been build around ISO

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26000 and UNCTAD Guidance on Good Practices in Corporate Governance.The standard is applicableby any type of organization.;

Earthcheck www.earthcheck.org Certification / StandardSocial Accountability International's SA8000 standard

Standard Ethics Aei guidelines

The ISO 14000 environmental management standardThe United Nations Global Compact requires companies to communicate on their progress

(http://www.unglobalcompact.org/COP/) (or to produce a Communication on Progress, COP), and to

describe the company's implementation of the Compact's ten universal principles. This information should

be fully integrated in the participant’s main medium of stakeholder communications, for example acorporate responsibility or sustainability report and/or an integrated financial and sustainability report. If a

company does not publish formal reports, a COP can be created as a stand-alone document.[10]

The United Nations Intergovernmental Working Group of Experts on International Standards of

Accounting and Reporting (ISAR) provides voluntary technical guidance on eco-efficiency indicators(http://www.unctad.org/en/docs/iteipc20037_en.pdf), corporate responsibility reporting

(http://www.unctad.org/en/docs/iteteb20076_en.pdf), and corporate governance disclosure.

(http://www.unctad.org/en/docs/iteteb20063_en.pdf)

The FTSE Group publishes the FTSE4Good Index, an evaluation of CSR performance of companies.

In some nations, legal requirements for social accounting, auditing and reporting exist (e.g. in the French bilansocial), though international or national agreement on meaningful measurements of social and environmentalperformance is difficult. Many companies now produce externally audited annual reports that cover SustainableDevelopment and CSR issues ("Triple Bottom Line Reports"), but the reports vary widely in format, style, andevaluation methodology (even within the same industry). Critics dismiss these reports as lip service, citingexamples such as Enron's yearly "Corporate Responsibility Annual Report" and tobacco corporations' socialreports.

In South Africa, as of June 2010, all companies listed on the Johannesburg Stock Exchange (JSE) were

required to produce an integrated report in place of an annual financial report and sustainability report.[11] Anintegrated report includes environmental, social and economic performance alongside financial performanceinformation and is expected to provide users with a more holistic overview of a company. However, thisrequirement was implemented in the absence of any formal or legal standards for an integrated report. AnIntegrated Reporting Committee (IRC) was established to issue guidelines for good practice in this field.

Potential business benefits

The scale and nature of the benefits of CSR for an organization can vary depending on the nature of theenterprise, and are difficult to quantify, though there is a large body of literature exhorting business to adoptmeasures beyond financial ones (e.g., Deming's Fourteen Points, balanced scorecards). Orlitzky, Schmidt, and

Rynes[12] found a correlation between social/environmental performance and financial performance. However,businesses may not be looking at short-run financial returns when developing their CSR strategy. Intel employs a

5-year CSR planning cycle.[13]

The definition of CSR used within an organization can vary from the strict "stakeholder impacts" definition usedby many CSR advocates and will often include charitable efforts and volunteering. CSR may be based within the

human resources, business development or public relations departments of an organisation,[14] or may be givena separate unit reporting to the CEO or in some cases directly to the board. Some companies may implementCSR-type values without a clearly defined team or programme.

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The business case for CSR[15] within a company will likely rest on one or more of these arguments:

Triple Bottom-Line

People planet profit, is also known as the Triple Bottom Line are words that should be used and practiced inevery move an organization makes. People relates to fair and beneficial business practices toward labour, thecommunity and region where corporation conducts its business. Planet refers to sustainable environmentalpractices. A triple bottom line company does not produce harmful or destructive products such as weapons,toxic chemicals or batteries containing dangerous heavy metals for example. Profit is the economic value createdby the organization after deducting the cost of all inputs, including the cost of the capital tied up. It therefore

differs from traditional accounting definitions of profit.[16][17]

Human resources

A CSR program can be an aid to recruitment and retention,[18] particularly within the competitive graduatestudent market. Potential recruits often ask about a firm's CSR policy during an interview, and having acomprehensive policy can give an advantage. CSR can also help improve the perception of a company amongits staff, particularly when staff can become involved through payroll giving, fundraising activities or community

volunteering. CSR has been found to encourage customer orientation among frontline employees.[19]

Risk management

Managing risk is a central part of many corporate strategies. Reputations that take decades to build up can be

ruined in hours through incidents such as corruption scandals or environmental accidents.[20] These can alsodraw unwanted attention from regulators, courts, governments and media. Building a genuine culture of 'doing

the right thing' within a corporation can offset these risks.[21]

Brand differentiation

In crowded marketplaces, companies strive for a unique selling proposition that can separate them from thecompetition in the minds of consumers. CSR can play a role in building customer loyalty based on distinctive

ethical values.[22] Several major brands, such as The Co-operative Group, The Body Shop and American

Apparel[23] are built on ethical values. Business service organizations can benefit too from building a reputationfor integrity and best practice.

Engagement Plan

An engagement plan will assist in reaching a desired audience. A corporate social responsibility team, orindividual is needed to effectively plan the goals and objectives of the organization. Determining a budget shouldbe of high priority. The function of corporate social responsibility planning: 1. To add discussion and analysis ofa new set of risks into corporate decision-making. 2. To represent issues within the corporation that watchdogs,NGOs and advocates represent within society. 3. To assess the future. An organizations long term and shortterm future needs to be thought of. 4. To help prioritize consideration of socially and environmentally friendlyprojects that might otherwise lack a corporate advocate. 5. To keep corporations aware of potential majorsocietal impacts even when a negative impact may not be immediate, and thus lessen liability. 6. To positivelyinfluence decision making where societal impacts are maximized, whilst ensuring efforts are within a givenbudget.

Developing an Engagement Plan

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Commit to coming up with and improving on your companies goals. CSR commitments communicate the natureand direction of the firm's social and environmental activities and, will help others understand how theorganization is likely to behave in a particular situation 1. Do a scan of CSR commitments 2. Hold discussionswith major stakeholders 3. Create a working group to develop the commitments 4. Prepare a preliminary draft5. Consult with affected stakeholders 6. Revise and publish the commitments 7. Consider what is feasible withinthe budget • To ensure employee buy-in, include employees in the process of developing the vision and values.To spark the process, create a CSR working group or hold a contest for the best suggestions, encouragingemployees and their representatives to put some thought into their submissions. • Host a visioning session andask participants to think about what the firm could look like in the future as a CSR leader. • Review the CSRpriorities to determine which codes of ethics or conduct fit best with the firm's goals.

Consultants are recommended when planning for CSR activities involving small, medium and large sizedcorporations. All levels of management should be on board, and the support of high ranking corporate officialsshould be given.

License to operate

Corporations are keen to avoid interference in their business through taxation or regulations. By takingsubstantive voluntary steps, they can persuade governments and the wider public that they are taking issues suchas health and safety, diversity, or the environment seriously as good corporate citizens with respect to labourstandards and impacts on the environment.

Supplier Relations

Businesses are constantly relying on suppliers to reduce overall costs, while improving the quality of their goodsor services. Many North American companies have downgraded the volume of suppliers they do business with,and award contracts to a select few, in order to lower operating costs. By establishing a strong supply chain,companies are able to push for continuous quality improvements, and price reductions. The long-term benefits ofthe listed above create a better value for stakeholders.

Some multi-national companies like General Motors can shift suppliers, if a lower offer is made by thecompetition. As a result, competitiveness, and greater profits are created, in turn contributing to a strongermarket

The strategic use of supplier relations can benefit single, double and triple bottom-lines. Corporations excelling insupply relations include Wal-Mart, Ford, General Motors, Toyota and Nestle. All companies listed above havegained tangeable results through the practice of ensuring sound supply chains, and sourcing materials from ethicalsources.

Emphasizing the importance of practicing CSR to suppliers, researching their existing supply chain, and sendingout CSR check-sheets to existing suppliers is important to staying on-track of a company’s implemented CSRactivity.

Criticisms and concerns

Critics of CSR as well as proponents debate a number of concerns related to it. These include CSR'srelationship to the fundamental purpose and nature of business and questionable motives for engaging in CSR,including concerns about insincerity and hypocrisy.

Nature of business

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Milton Friedman and others have argued that a corporation's purpose is to maximize returns to its shareholders,and that since only people can have social responsibilities, corporations are only responsible to theirshareholders and not to society as a whole. Although they accept that corporations should obey the laws of thecountries within which they work, they assert that corporations have no other obligation to society. Some peopleperceive CSR as in-congruent with the very nature and purpose of business, and indeed a hindrance to freetrade. Those who assert that CSR is contrasting with capitalism and are in favor of the free market argue thatimprovements in health, longevity and/or infant mortality have been created by economic growth attributed to

free enterprise.[24]

Critics of this argument perceive the free market as opposed to the well-being of society and a hindrance tohuman freedom. They claim that the type of capitalism practiced in many developing countries is a form ofeconomic and cultural imperialism, noting that these countries usually have fewer labour protections, and thus

their citizens are at a higher risk of exploitation by multinational corporations.[25]

A wide variety of individuals and organizations operate in between these poles. For example, theREALeadership Alliance asserts that the business of leadership (be it corporate or otherwise) is to change the

world for the better.[26] Many religious and cultural traditions hold that the economy exists to serve humanbeings, so all economic entities have an obligation to society (see for example Economic Justice for All).Moreover, as discussed above, many CSR proponents point out that CSR can significantly improve long-termcorporate profitability because it reduces risks and inefficiencies while offering a host of potential benefits suchas enhanced brand reputation and employee engagement.

Motives

Some critics believe that CSR programs are undertaken by companies such as British American Tobacco

(BAT),[27] the petroleum giant BP (well known for its high-profile advertising campaigns on environmentalaspects of its operations), and McDonald's (see below) to distract the public from ethical questions posed bytheir core operations. They argue that some corporations start CSR programs for the commercial benefit theyenjoy through raising their reputation with the public or with government. They suggest that corporations which

exist solely to maximize profits are unable to advance the interests of society as a whole.[28]

Another concern is that sometimes companies claim to promote CSR and be committed to sustainabledevelopment but simultaneously engage in harmful business practices. For example, since the 1970s, theMcDonald's Corporation's association with Ronald McDonald House has been viewed as CSR and relationshipmarketing. More recently, as CSR has become mainstream, the company has beefed up its CSR programs

related to its labor, environmental and other practices[29] All the same, in McDonald's Restaurants v Morris &Steel, Lord Justices Pill, May and Keane ruled that it was fair comment to say that McDonald's employees

worldwide 'do badly in terms of pay and conditions'[30] and true that 'if one eats enough McDonald's food,

one's diet may well become high in fat etc., with the very real risk of heart disease.'[31]

Royal Dutch Shell has a much-publicized CSR policy and was a pioneer in triple bottom line reporting, but thisdid not prevent the 2004 scandal concerning its misreporting of oil reserves, which seriously damaged itsreputation and led to charges of hypocrisy. Since then, the Shell Foundation has become involved in manyprojects across the world, including a partnership with Marks and Spencer (UK) in three flower and fruitgrowing communities across Africa.

Critics concerned with corporate hypocrisy and insincerity generally suggest that better governmental andinternational regulation and enforcement, rather than voluntary measures, are necessary to ensure that companiesbehave in a socially responsible manner. A major area of necessary international regulation is the reduction ofthe capacity of corporations to sue states under investor state dispute settlement provisions in trade orinvestment treaties if otherwise necessary public health or environment protection legislation has impeded

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corporate investments.[32] Others, such as Patricia Werhane, argue that CSR should be considered more as acorporate moral responsibility, and limit the reach of CSR by focusing more on direct impacts of theorganization as viewed through a systems perspective to identify stakeholders. For a commonly overlookedmotive for CSR, see also Corporate Social Entrepreneurship, whereby CSR can also be driven by employees'personal values, in addition to the more obvious economic and governmental drivers.

Principles of Corporate Social Responsibility

The main principles involving corporate social responsibility involve economic, legal, ethical and discretionaryaspects. A corporation needs to generate profits, while operating within the laws of the state. The corporationalso needs to be ethical, but has the right to be discretional about the decisions it makes. Levels of corporatesocial responsiveness to an issue include being reactive, defensive, responsive and interactive. All terms areuseful in issues management. Selecting when and how to act can make a difference in the outcome of the actiontaken.

Ethical consumerism

The rise in popularity of ethical consumerism over the last two decades can be linked to the rise of CSR. Asglobal population increases, so does the pressure on limited natural resources required to meet rising consumerdemand (Grace and Cohen 2005, 147). Industrialization, in many developing countries, is booming as a result ofboth technology and globalization. Consumers are becoming more aware of the environmental and socialimplications of their day-to-day consumer decisions and are therefore beginning to make purchasing decisions

related to their environmental and ethical concerns.[33] However, this practice is far from consistent or universal.

Globalization and market forces

As corporations pursue growth through globalization, they have encountered new challenges that impose limitsto their growth and potential profits. Government regulations, tariffs, environmental restrictions and varyingstandards of what constitutes "labor exploitation" are problems that can cost organizations millions of dollars.Some view ethical issues as simply a costly hindrance, while some companies use CSR methodologies as astrategic tactic to gain public support for their presence in global markets, helping them sustain a competitiveadvantage by using their social contributions to provide a subconscious level of advertising. (Fry, Keim, Meiners1986, 105) Global competition places a particular pressure on multinational corporations to examine not onlytheir own labor practices, but those of their entire supply chain, from a CSR perspective. that all government iscontrolling.

Social awareness and education

The role among corporate stakeholders is to work collectively to pressure corporations that are changing.Shareholders and investors themselves, through socially responsible investing are exerting pressure oncorporations to behave responsibly. The extension of SRI bodies driving corporations to include an element of‘ethical investment’ into their corporate agenda’s generates socially embedded issues. The main issue correlatesto the development and overall idea of ‘ethical investing’ or SRI, a concept that is constructed as a general

social perspective.[34] The problem becomes defining what is classified as ‘ethical investing’. The ethics orvalues of one SRI body will likely different from the next since ethical opinions are inherently paradoxical. Forexample, some religious investors in the US have withdrawn investment from companies that fail to fulfill their

ethical expectations.[35] The Non-governmental organizations are also taking an increasing role, leveraging thepower of the media and the Internet to increase their scrutiny and collective activism around corporate behavior.Through education and dialogue, the development of community awareness in holding businesses responsible for

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their actions is growing.[36] In recent years, the traditional conception of CSR is being challenged by the morecommunity-conscious Creating Shared Value concept (CSV), and several companies are refining theircollaboration with stakeholders accordingly.

Ethics training

The rise of ethics training inside corporations, some of it required by government regulation, is another drivercredited with changing the behavior and culture of corporations. The aim of such training is to help employeesmake ethical decisions when the answers are unclear. Tullberg believes that humans are built with the capacity tocheat and manipulate, a view taken from Trivers (1971, 1985), hence the need for learning normative values and

rules in human behavior.[37] The most direct benefit is reducing the likelihood of "dirty hands" (Grace and Cohen2005), fines and damaged reputations for breaching laws or moral norms. Organizations also see secondary

benefit in increasing employee loyalty and pride in the organization[citation needed]. Caterpillar and Best Buy are

examples of organizations that have taken such steps.[38]

Increasingly, companies are becoming interested in processes that can add visibility to their CSR policies andactivities. One method that is gaining increasing popularity is the use of well-grounded training programs, where

CSR is a major issue, and business simulations can play a part in this.[citation needed]

One relevant documentary is The Corporation, the history of organizations and their growth in power isdiscussed. Corporate social responsibility, what a company does in trying to benefit society, versus corporatemoral responsibility (CMR), what a company should morally do, are both important topics to consider whenlooking at ethics in CSR. For example, Ray Anderson, in The Corporation, takes a CMR perspective in orderto do what is moral and he begins to shift his company's focus towards the biosphere by utilizing carpets insections so that they will sustain for longer periods. This is Anderson thinking in terms of Garret Hardin's "TheTragedy of the Commons," where if people do not pay attention to the private ways in which we use publicresources, people will eventually lose those public resources.

Geography

In a geographical context, CSR is fundamentally an intangible populist idea without a conclusive definition.[39]

Corporations who employ CSR behaviors are empirically dissimilar in various parts of the world.[40] The issueof CSR diversity is produced through the perpetual differences embedded in the social, political, cultural, and

economic structures within individual countries.[40] The immense geographical separations feasibly contribute tothe loosely defined concept of CSR and difficulty for corporate regulation.

Public policies

CSR has inspired national governments to include CSR issues into their national public policy agendas. Theincreased importance driven by CSR, has prompted governments to promote socially and environmentally

responsible corporate practices.[41]Over the past decade governments have considered CSR as a public issuethat requires national governmental involvement to address the very issues relevant to CSR. The heightened role

of government in CSR has facilitated the development of numerous CSR programs and policies.[41] Specifically,various European governments have implemented public policies on CSR enhancing their competence to

develop sustainable corporate practices.[42] CSR critics such as Robert Reich argue that governments shouldset the agenda for social responsibility by the way of laws and regulation that will allow a business to conductthemselves responsibly. Actors engaged in CSR:

governments

corporations

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civil societies

Recently, 15 European Union countries have actively engaged in CSR regulation and public policy

development.[42] Recognizably, the CSR efforts and policies are vastly different amongst countries resultant tothe complexity and diversity of governments’, corporations’, and civil societies’ roles. Scholars have analyzedeach body that promotes CSR based policies and programs concluding that the role and effectiveness of these

actors are case-specific.[41] Global issues so broadly defined such as CSR generate numerous relationshipsbetween the different socio-geographic players.

A key debate in CSR is determining what actors are responsible to ensure that corporation’s are behaving in asocio-economic and environmentally sustainable manner.

Regulation

The issues surrounding corporate regulation pose several problems. The concept of regulation is inherentlydifficult to address because of the numerous amount of corporations that exist are vastly dissimilar in terms ofcorporate behavior and nature. Thus, regulation in itself is unable to cover every aspect in detail of acorporation's operations. For example, This leads to burdensome legal processes bogged down ininterpretations of the law and debatable grey areas (Sacconi 2004). For example, General Electric failed toclean up the Hudson River after contaminating it with organic pollutants. The company continues to argue via thelegal process on assignment of liability, while the cleanup remains stagnant. (Sullivan & Schiafo 2005).Government regulation or public institutional regulation is difficult to achieve. Depending on the political regimeand form of government – democracy, parliamentary, presidential – issues of governmental ineffectiveness maytranspire. As a result, attempts at CSR policy development and implementation may be unattainable.

The second issue is the financial burden that regulation can place on a nation's economy. This view shared byBulkeley, who cites the Australian federal government's actions to avoid compliance with the Kyoto Protocol in1997, on the concerns of economic loss and national interest. The Australian government took the position thatsigning the Kyoto Pact would have caused more significant economic losses for Australia than for any otherOECD nation (Bulkeley 2001, pg 436). On the change of government following the election in November2007, Prime Minister Kevin Rudd signed the ratification immediately after assuming office on 3 December2007, just before the meeting of the UN Framework Convention on Climate Change. Critics of CSR also pointout that organizations pay taxes to government to ensure that society and the environment are not adverselyaffected by business activities.

The government of Canada has adopted a national position that expects Canadian corporations to practicebehaviors parallel to CSR. In 2007, Prime Minister Harper was aware of Canada’s abundant investment intothe resource/mineral extractive sector and encouraged the Canadian mining companies to meet Canada’s newly

developed CSR standards and expectations.[43] The method of developing and implementing CSR policies was

achieved through government-company consultation and government stakeholder cooperation.[43] Thesuccessful relationship between the CSR actors within Canada’s government and coutry, may advocate thatcooperation amongst constituencies is the most imperative element to CSR regulation.

The European Union has recently done extensive work to try and find the best form of regulation. Some criticsargue that the creation of a CSR organization with a democratically appointed minister focused solely on

monitoring and enforcing socially responsible behaviour will be extremely effective.[42]

Laws

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The laws legally binding the corporation’s behavior and activity are quite insignificant in relation to the global

consequences. Only recently have countries included CSR policies in government agendas legislature.[42]

Common types of countries who have implemented legislation and CSR laws generally consist of socio-economic and politically sophisticated countries. The level of political stability and effectiveness is inextricablylinked to a countries capacity to ensure national CSR policies.

The increasing ability and influence corporations have on the economic, political, and social dynamics of society

correlate to the recent studies by the UN Commission on Human Rights.[44] More research and international

political instruments are being explored to protect and prevent corporations from violating human rights.[45]

Denmark has a law on CSR. On 16 December 2008, the Danish parliament adopted a bill making it mandatoryfor the 1100 largest Danish companies, investors and state-owned companies to include information oncorporate social responsibility (CSR) in their annual financial reports. The reporting requirements became

effective on 1 January 2009.[46] The required information includes:

information on the companies’ policies for CSR or socially responsible investments (SRI)

information on how such policies are implemented in practice, andinformation on what results have been obtained so far and managements expectations for the future with

regard to CSR/SRI.

CSR/SRI is still voluntary in Denmark, but if a company has no policy on this it must state its positioning onCSR in their annual financial report. More on the Danish law can be found at CSRgov.dk(http://www.csrgov.dk/sw51190.asp)

Crises and their consequences

Often it takes a crisis to precipitate attention to CSR. One of the most active stands against environmentalmismanagement is the CERES Principles that resulted after the Exxon Valdez incident in Alaska in 1989 (Graceand Cohen 2006). Other examples include the lead poisoning paint used by toy giant Mattel, which required arecall of millions of toys globally and caused the company to initiate new risk management and quality controlprocesses. In another example, Magellan Metals in the West Australian town of Esperance was responsible forlead contamination killing thousands of birds in the area. The company had to cease business immediately andwork with independent regulatory bodies to execute a cleanup. Odwalla also experienced a crisis with salesdropping 90%, and the company's stock price dropping 34% due to several cases of E. coli spread throughOdwalla apple juice. The company ordered a recall of all apple or carrot juice products and introduced a newprocess called "flash pasteurization" as well as maintaining lines of communication constantly open withcustomers.

Stakeholder priorities

Increasingly, corporations are motivated to become more socially responsible because their most importantstakeholders expect them to understand and address the social and community issues that are relevant to them.Understanding what causes are important to employees is usually the first priority because of the manyinterrelated business benefits that can be derived from increased employee engagement (i.e. more loyalty,improved recruitment, increased retention, higher productivity, and so on). Key external stakeholders includecustomers, consumers, investors (particularly institutional investors), communities in the areas where thecorporation operates its facilities, regulators, academics, and the media.

Branco and Rodrigues (2007) describe the stakeholder perspective of CSR as the inclusion of all groups orconstituents (rather than just shareholders) in managerial decision making related to the organization’s portfolio

of socially responsible activities.[47] This normative model implies that the CSR collaborations are positively

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accepted when they are in the interests of stakeholders and may have no effect or be detrimental to theorganization if they are not directly related to stakeholder interests. The stakeholder perspective suffers from awheel and spoke network metaphor that does not acknowledge the complexity of network interactions that canoccur in cross sector partnerships. It also relegates communication to a maintenance function, similar to the

exchange perspective.[48]

Industries considered void of CSR

Several industries are often absent from CSR research. The absence is due to the presumption that theseparticular industries fail to achieve ethical considerations of their consumers. Typical industries include tobacco

and alcohol producers ("sin industry" manufacturers), as well as defense firms[49]

See also

AccountabilityBeneficiation

Business in the CommunityBusiness ethics

Business philosophyThe Business for Peace FoundationCarbon neutrality

Carbon offsetChief Green Officer

Civil societyCorporate behaviour

Corporate benefitCorporate citizenshipCorporate governance

Corporate personhoodCorporate Social Entrepreneurship

Corporate sustainabilityCorporation

Csrwire CanadaCustomer engagementEthical banking

Ethical jobGreen economy

Green jobInclusive business

ISO 26000Integrity ManagementLife cycle assessment

Matching giftNot Just For Profit

OECD Guidelines for Multinational EnterprisesOrganizational Justice

Principles for Responsible Investment (PRI)Public Eye Awards

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Responsible miningShareholder primacySustainability

The CorporationVolunteer grant

Voluntary compliance

Notes

1. ^ D Wood, 'Corporate Social Performance Revisited' (1991) 16(4) The Academy of Management Review(http://www.jstor.org/stable/258977)

2. ^ R Freeman, Strategic management :a stakeholder approach (Pitman 1984) ISBN 978-0-273-01913-8, on&ots=6ZkgH5ObRI&sig=blXypqsI33PKbEs4Tzk0RBQ-tfg#v=onepage&q&f=false books.google.com(http://books.google.com/books?hl=en&lr=&id=NpmA_qEiOpkC&oi=fnd&pg=PR5&dq='Strategic+management+:a+stakeholder+approach)

3. ^ Saether, Kim T.; Ruth V. Aguilera (2008). "Corporate Social Responsibility in a Comparative Perspective"(http://www.business.uiuc.edu/aguilera/pdf/Williams%20Aguilera%20OUPfinal%20dec%202006.pdf) (PDF).In Crane, A., et al. The Oxford Handbook of Corporate Social Responsibility. Oxford: Oxford University Press.ISBN 0-19-921159-0. Retrieved 2008-03-06.

4. ^ Habisch, André; Jan Jonker, Martina Wegner, R. Schmidpeter (eds.) (2005). Corporate Social Responsibilityacross the Europe. Heidelberg: Springer. ISBN 978-3-540-23251-3.

5. ^ Tilcsik, A. & Marquis, C. 2013. “Punctuated Generosity: How Mega-events and Natural Disasters AffectCorporate Philanthropy in U.S. Communities.” Administrative Science Quarterly, 58(1): 111-148.(http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2028982)

6. ^ http://www.fairtrade.org.uk/work/case_studies/read_a_case_study/default.aspx?ID=40

7. ^ R.H. Gray, D.L.Owen & K.T.Maunders, Corporate Social Reporting: Accounting and accountability (HemelHempstead: Prentice Hall, 1987) p. IX.

8. ^ D. Crowther, "Social and Environmental Accounting" (London: Financial Times Prentice Hall, 2000), p. 20

9. ^ See Companies Act 2006 section 417 ff

10. ^ http://www.unglobalcompact.org/docs/communication_on_progress/COP_Policy_Feb11.pdf

11. ^ https://www.saica.co.za/tabid/695/itemid/2344/language/en-ZA/An-integrated-report-is-a-new-requirement-for-list.aspx

12. ^ Orlitzky, Marc; Frank L. Schmidt, Sara L. Rynes (2003). "Corporate Social and Financial Performance: AMeta-analysis" (http://www.finanzasostenibile.it/finanza/moskowitz2004.pdf) (PDF). Organization Studies

(London: SAGE Publications) 24 (3): 403–441. doi:10.1177/0170840603024003910(http://dx.doi.org/10.1177%2F0170840603024003910). Retrieved 2008-03-07.

13. ^ E. Curry, B. Guyon, C. Sheridan, and B. Donnellan, “Developing an Sustainable IT Capability: Lessons FromIntel’s Journey,” (http://www.edwardcurry.org/publications/MISQE_SustainableIT_Intel_2012.pdf) MISQuarterly Executive, vol. 11, no. 2, pp. 61–74, 2012.

14. ^ "Corporate Social Responsibility and Ethical Careers"(http://www.careers.ed.ac.uk/STUDENTS/Careers/Corporate%20Social%20Responsibility%20and%20Ethical%20Careers.html). University of Edinburgh Careers Service. Retrieved 2008-03-07.

15. ^ Bhattacharya, CB, Sankar Sen and Daniel Korschun (2011) Leveraging Corporate Social Responsibility: TheStakeholder Route to Business and Societal Value, Cambridge University Press, Cambridge: UK.

16. ^ Gopal K. Kanj, Parvesh K. Chopra (2010), "Corporate Social Responsibility in a Global Economy." Routledge

17. ^ "Idea: Triple bottom line" (http://www.economist.com/node/14301663). Nov 17 2009. Retrieved March 20,2013.

18. ^ Bhattacharya, C.B., Sankar Sen and Daniel Korschun (2008), "Using Corporate Social Responsibility to Winthe War for Talent," MIT Sloan Management Review, 49 (2), 37-44; "The Good Company"(http://www.economist.com/surveys/displayStory.cfm?Story_id=3555212). The Economist. 2005-01-20.Retrieved 2008-03-07.

19. ^ Korschun, Daniel, C.B. Bhattacharya and Scott Swain (2011), When and How Does Corporate Social

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Responsibility Encourage Customer Orientation? Working Paper. |url= http://www.esmt.org/en/310145

20. ^ Eisingerich, A.B.; Ghardwaj, G. (2011). "Corporate Social Responsibility: Does Social Responsibility HelpProtect a Company's Reputation?" (http://sloanreview.mit.edu/the-magazine/2011-spring/52313/does-social-responsibility-help-protect-a-companys-reputation/). MIT Sloan Management Review. 52 (March): 18–18.

21. ^ Kytle, Beth; paramveer singh (2005). "Corporate Social Responsibility as Risk Management: A Model forMultinationals" (http://www.ksg.harvard.edu/m-rcbg/CSRI/publications/workingpaper_10_kytle_ruggie.pdf)(PDF). Social Responsibility Initiative Working Paper No. 10. Cambridge, MA: John F. Kennedy School ofGovernment, Harvard University. Retrieved 2008-03-07.

22. ^ Paluszek, John (April 6–7, 2005). "Ethics and Brand Value: Strategic Differentiation"(http://www.scu.edu/ethics/practicing/focusareas/business/ethics-and-brand-value.ppt) (PowerPoint). Businessand Organizational Ethics Partnership Meeting. Markkula Center for Applied Ethics, Santa Clara University.Retrieved 2008-03-07.

23. ^ "Dr. Tantillo’s 30-Second 'How To': How To Brand CSR The American Apparel Way"(http://blog.marketingdoctor.tv/2008/03/28/dr-tantillos-30second-how-to.aspx) Marketing Doctor Blog. March28, 2008.

24. ^ Friedman, Milton (1970-09-13). "The Social Responsibility of Business is to Increase its Profits"(http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html). The New YorkTimes Magazine. Retrieved 2008-03-07.

25. ^ c.f., Aquino, M.P., Nuestro Clamor por la Vida. Teología Latinoamericana desde la Perspectiva de la Mujer(San José, Costa Rica: Departamento Ecuménico de Investigaciones, 1992), et al.

26. ^ Real Leadership Alliance (http://www.realeadership.com)

27. ^ "British American Tobacco Report Shows Truth Behind Greenwash"(http://www.foe.co.uk/resource/press_releases/british_american_tobacco_r_27042005.html) (Press release).Friends of the Earth. 2005-04-28. Retrieved 2008-03-07.

28. ^ McKibben, Bill (November/December 2006). "Hope vs. Hype"(http://www.motherjones.com/news/feature/2006/11/hype_vs_hope.html). Mother Jones. Retrieved 2008-03-07.

29. ^ McDonald's Corporation CSR information (http://www.mcdonalds.com/usa/good/report.html)

30. ^ [Appeal Judgment p247]

31. ^ [Judgment p264]

32. ^ Ganguly, S (1999) The Investor-State Dispute Mechanism (ISDM) and a Sovereign’s power to protectpublic health. Columbia Journal of Transnational Law 38:113

33. ^ Eisingerich, A.B.; Rubera, G.; Seifert, M.; Bhardwaj, G. (2011). "Doing Good and Doing Better DespiteNegative Information? The Role of Corporate Social Responsibility in Consumer Resistance to NegativeInformation" (http://jsr.sagepub.com/content/14/1/60.abstract). Journal of Service Research. 14 (February):60–75. doi:10.1177/1094670510389164 (http://dx.doi.org/10.1177%2F1094670510389164).

34. ^ O’Laughlin, Bridget (November 2008). "Governing Capital? Corporate Social Responsibility and the Limits of

Regulation". Development and Change 39 (6): 945–957. doi:10.1111/j.1467-7660.2008.00522.x(http://dx.doi.org/10.1111%2Fj.1467-7660.2008.00522.x).

35. ^ O’Laughlin, Bridget (November 2008). "Governing Capital? Corporate Social Responsibility and the Limits of

Regulation". Development and Change 39 (6): 945–957. doi:10.1111/j.1467-7660.2008.00522.x(http://dx.doi.org/10.1111%2Fj.1467-7660.2008.00522.x).

36. ^ Roux, M. (2007). "Climate conducive to corporate action: 1 All-round Country Edition"(http://www.theaustralian.news.com.au/story/0,25197,22356183-7583,00.html). The Australian: 14.

37. ^ Tullberg, J.; Tullberg, S. (1996). "On Human Altruism: The Discrepancy between Normative and Factual

Conclusions". Oikos 75 (2): 327–329. doi:10.2307/3546259 (http://dx.doi.org/10.2307%2F3546259).JSTOR 3546259 (http://www.jstor.org/stable/3546259).

38. ^ Thilmany, J. (2007). "Supporting Ethical Employees" (http://www.shrm.org/hrmagazine/07September/). HR

Magazine 52 (2).

39. ^ Xavier, Font; Xavier Font* , Andreas Walmsley, Sara Cogotti, Lucy McCombes, Nicole Häusler (December2012). "Corporate social responsibility: The disclosureeperformance gap"(http://www.sciencedirect.com.ezproxy.library.ubc.ca/science/article/pii/S0261517712000441). Tourism

Management 33 (6): 1544–1553. Retrieved 10 February 2013.

40. ̂a b Muller, Alan; Gail Whiteman (February 2009). "Exploring the Geography of Corporate PhilanthropicDisaster Response: A Study of Fortune Global 500 Firms"

(http://search.proquest.com.ezproxy.library.ubc.ca/docview/198172266). Journal of Business Ethics 84 (4):

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589–603. Retrieved 11 February 2013.

41. ̂a b c http://www.jstor.org.ezproxy.library.ubc.ca/stable/25075478].

42. ̂a b c d Knopf, Jutta. [europa.eu/social/BlobServlet?docId=6716&langId=en "Corporate Social ResponsibilityNational Public Policies in the European Union"]. European Commission. Publication Office of The EuropeanUnion. Retrieved 10 February 2013.

43. ̂a b Government, Canada. "Corporate Social Responsibility Building the Canadian Advantage: A CorporateSocial Responsibility (CSR) Strategy for the Canadian International Extractive Sector"(http://www.international.gc.ca/trade-agreements-accords-commerciaux/ds/csr-strategy-rse-stategie.aspx?view=d). Government Policy. Foreign Affairs and International Trade Canada. Retrieved 11 February 2013.

44. ^ Lozano, Josef (2000). Corporate Social Responsibility and Human Rights(http://escolapau.uab.cat/img/programas/derecho/corporate.pdf). internet: Kluwer Law. pp. 183–204.

45. ^ [1] (http://escolapau.uab.cat/img/programas/derecho/corporate.pdf),

46. ^ Danish Centre for CSR's official website CSRgov.dk (http://www.csrgov.dk/sw51190.asp)

47. ^ Branco, M.C.; Rodrigues, L.L. (2007). "Positioning stakeholder theory within the debate on corporate socialresponsibility" (http://ejbo.jyu.fi/pdf/ejbo_vol12_no1_pages_5-15.pdf). Electronic Journal of Business Ethics

and Organization Studies 12: 5–15. Retrieved 13 March 2011.

48. ^ Shumate, M; O'Conner, A. (2010). "The symbiotic sustainability model: Conceptualizing NGO-corporate

alliance communication". Journal of Communication 60 (3): 577–609. doi:10.1111/j.1460-2466.2010.01498.x(http://dx.doi.org/10.1111%2Fj.1460-2466.2010.01498.x).

49. ^ Halpern, Barton; Keith F. Snider (2012). "Products that Kill and Corporate Social Responsibility: The Case of

US Defense Firms" (http://afs.sagepub.com/content/38/4/604.abstract). Armed Forces & Society 38 (4): 604–624.

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External links

Foundation for Corporate Social Responsibility [4] (http://www.fcsr.pl)

Further reading

Baker, Mallen. "Arguments against Corporate Social Responsibility"(http://www.mallenbaker.net/csr/CSRfiles/against.html). Business Respect. Retrieved 2008-03-07.Carroll, A.; A. Buchholtz (2006). Business and Society: Ethics and Stakeholder Management, 6th ed. Mason,OH: Thomson/South-Western. ISBN 0-324-22581-4.Carroll, A. (1998). "The Four Faces of Corporate Citizenship". Business and Society Review. September, vol.100, no. 1, pp. 1–7Cavett-Goodwin, David (2007-12-03). "Making the Case for Corporate Social Responsibility"(http://culturalshifts.com/archives/181). Cultural Shifts. Retrieved 2008-03-07.Clarkson, M. (1995). "A stakeholder framework for analyzing and evaluating corporate social performance".

Academy of Management Review 20 (1): 92–117. doi:10.2307/258888 (http://dx.doi.org/10.2307%2F258888).Commission of the European Communities (2006): IMPLEMENTING THE PARTNERSHIP FOR GROWTHAND JOBS: MAKING EUROPE A POLE OF EXCELLENCE ON CORPORATE SOCIAL RESPONSIBILITY(http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2006:0136:FIN:en:PDF)Davis, K.; R. Blomstrom (1975). Business and Society: Environment and Responsibility, New York: McGraw-Hill. ISBN 0-07-015524-0.

Davis, Kevin R. (2007). "The Compliance Racket". The Chronicle of Higher Education 53 (20): B11.Farnham Castle. "Corporate Social Responsibility: New Fad or Necessity" (http://www.intercultural-training.co.uk/articles/general/corporate_social_resp.asp). Retrieved 2008-03-07."Ian Davis on business and society" (http://www.economist.com/printedition/displayStory.cfm?Story_ID=4008642). The Economist. 2005-05-26. Retrieved 2008-03-07. - advantages and limitations of CSR

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Feltus, C.; Petit, M. (2009). "Building a Responsibility Model Including Accountability, Capability andCommitment", Proceedings of the Fourth International Conference on Availability, Reliability and Security,Institute of Electrical and Electronics Engineers ( IEEE ), Fukuoka, 2009. Building a Responsibility ModelIncluding Accountability, Capability and Commitment (http://ieeexplore.ieee.org/xpl/freeabs_all.jsp?isnumber=5066394&arnumber=5066503&count=189&index=84)Fombrun, C. (2000). "The value to be found in corporate reputation". Financial Times, December 4, 2000.Griffin, J.; Mahon, J. (1997). "The Corporate Social Performance and Corporate Financial Performance

Debate". Business and Society 36: 5–31.Holton, Glyn A. "Investor Suffrage Movement"

(http://www.contingencyanalysis.com/home/papers/suffrage.pdf) (PDF). Financial Analysts Journal 62 (6).Retrieved 2008-03-07.Habisch, A; Jonker, J.; Wagner, M; Schmidpeter, R.(2005): Corporate Social Responsibility Across Europe.Springer. ISBN 3-540-23251-6.Hemingway, C.A. (2005). "Personal Values as a Catalyst for Corporate Social Entrepreneurship". Journal of

Business Ethics 60 (3): 233–249. doi:10.1007/s10551-005-0132-5 (http://dx.doi.org/10.1007%2Fs10551-005-0132-5).Halpern, Barton H. and Keith F. Snider. (2012) Products that Kill and Corporate Social Responsibility: The Caseof U.S. Defense Firms (http://afs.sagepub.com/content/38/4/604.abstract), Armed Forces & Society, Vol. 38,No. 4International Business Report (2008). Corporate Social Responsibility: a necessity not a choice(http://www.internationalbusinessreport.com/Reports/Focus-reports/Corporate-Social-Responsibility.asp),Grant Thornton.Jastram, Sarah (2007). "The Link Between Corporate Social Responsibility and Strategic Management". CISPapers No.17. Centre of International Studies, Hamburg.Joseph, Amita (2010). "A Picture of CSR in India (http://csr360gpn.org/magazine/feature/a-picture-of-csr-in-india/)", CSR360 Global Partner Network.Lin-Hi, Nick (2008). "Corporate Social Responsibility: An Investment in Social Cooperation for MutualAdvantage (http://www.wcge.org/downloads/DP_2008-6_NickLin-Hi_CorporateSocialResponsibility.pdf)",Wittenberg Center for Global Ethics Discussion Paper 2008-6.Maignan, I.; Ferrell, O.; Tomas, G. (1999). "Corporate Citizenship: Cultural Antecedents and Business

Benefits". Journal of the Academy of Marketing Science 27 (4): 455–469. doi:10.1177/0092070399274005(http://dx.doi.org/10.1177%2F0092070399274005).Maignan, I.; Ferrell, O. (2001). "Corporate citizenship as a marketing instrument". European Journal of

Marketing 35 (3/4): 457–484. doi:10.1108/03090560110382110(http://dx.doi.org/10.1108%2F03090560110382110).Matten, D.; Crane, A.; Chapple, W. (2003). "Behind the mask: Revealing the true face of corporate citizenship".

Journal Business Ethics 45 (1): 109.Menon, A.; Menon, A. (1997). "Enviropreneurial marketing strategy: the emergence of corporate

environmentalism as marketing strategy". Journal of Marketing 61 (1): 51–67. doi:10.2307/1252189(http://dx.doi.org/10.2307%2F1252189)."Millennium Poll on Corporate Responsibility", Environics International Ltd., in cooperation with The Prince ofWales Trust, September 1999.Jones, I., M. Pollitt, D. Bek (2006). "Multinationals in their communities: A social capital approach to corporatecitizenship projects (http://www.cbr.cam.ac.uk/pdf/WP337.pdf)", University of Cambridge Working Paper337.Manne, Henry G. (2006-11-24). "Milton Friedman Was Right"(http://www.opinionjournal.com/editorial/feature.html?id=110009295). The Wall Street Journal. Retrieved2008-03-07.Milchen, Jeff (May, 2000). "Inherent Rules of Corporate Behavior"(http://reclaimdemocracy.org/corporate_accountability/corporations_cannot_be_responsible.html).ReclaimDemocracy.org. Retrieved 2008-03-07.Norman, Wayne; Chris MacDonald. "Triple Bottom Line: a Critique" (http://www.businessethics.ca/3bl).Retrieved 2008-03-07.Porter, Michael; Mark Kramer. "The Link Between Competitive Advantage and Corporate Social Responsibility"(http://harvardbusinessonline.hbsp.harvard.edu/email/pdfs/Porter_Dec_2006.pdf) (PDF). Harvard BusinessReview.Rowe, James (2005-01-01). "Corporate Social Responsibility as Business Strategy"

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