Resources for this topic Corporate social responsibility CSR promotes a vision of business accountability to a wide range of stakeholders, besides shareholders and investors.
Back to top Europe at forefront?
Trends are difficult to ascertain he notes, but China will be key: Some of the concerns are genuine, while others hide political agenda. Common criticisms are over areas such as human rights, environment, and labor standards. Nothing was mentioned about the decades of Western exploitation of Africa!
As the above report notes, as the Chinese economy grows and in some areas wages are rising, those people are able to demand better conditions, which are slowly improving. Companies are therefore finding other ways to be competitive, and that sometimes includes sustainable and responsible practices.
Ardent supporters of free markets, such as Milton Friedman, have long argued that companies should not be diverted from their pursuit of profit; it ultimately harms a free society if entities such as companies try to act for a wider good other than its own self-interest, because it is hard to know what the wider good is, and damages the primary goal of companies: In his book, Capitalism and FreedomFriedman argues that there is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud His theories are appealing, though unfortunately in the real world, many companies, larger ones in particular are often involved in exploitative practices of some sort, knowingly or unknowingly through sub-contractors, for example.
Furthermore, with their increasing financial muscle comes increasing financial power in the political arena to influence policies in their favor. This is not necessarily engaging in open and free competition some lobbying is often to actively prevent competition, for example.
They have tried to go through their government that is supposed to be representative of their people, in a democracyand even to businesses and shareholders themselves to urge better responsibility.
As a result, many business leaders have therefore tried to pursue corporate social responsibility practices, or attempted to. Back to top Corporate Greenwashing? But how successful has corporate social responsibility been?
In a video interview 5 minutes, transcript Dame Anita Roddick founder of the Body Shopone of the initial architects for the idea of social responsibility by businesses, argues that the original principles have been diluted; that governments and businesses have become too obsessed with profit and economic growth.
Ultimately, she feels, it has not worked: Gil Friend, above, talks about such potential progress in another interview.
For example, Amory Lovins, energy consultant and co-author of the incredibly optimistic and insightful Natural Capitalism Black Bay Books, has been using the idea of entire system efficiency to companies in each sector to help them create a competitive advantage, hoping to create incentives for the others to follow suit 5-minute video clip, transcript:Corporate Social Responsibility in India Potential to contribute towards inclusive social development Global CSR Summit An Agenda for Inclusive Growth.
“We believe that our mission to save and sustain lives is our ultimate statement of corporate responsibility. The global impact of our products, presence and activities will always be assessed through this lens, as we touch the lives of patients, clinicians, communities, employees and other constituencies worldwide.".
Corporate Social Responsibility is a bit of a buzz word and some feel that it has been diluted from its original aims, while others are trying to find innovative ways to engage with businesses to be more responsible in their practices.
Enhanced Member Profiles are web pages devoted to the overall corporate social responsibility initiatives of organizations. As well as press releases, this may include multimedia, research reports, newsletters, event listings, customized content and more.
The Ricoh Group, mindful of its responsibility as a corporate citizen, respects the cultures and customs of all countries and regions, joining in active partnership with like-minded people and inspiring employees to contribute to the development of a sustainable society and planet. This article presents a structured review of the literature about corporate social responsibility, from the origins and evolution of the discipline, as a field of research, until the present.