Corporate social responsibility
Corporate social responsibility (CSR, also called corporate sustainability, sustainable business, corporate conscience, corporate citizenship, conscious capitalism, or responsible business)   is a type of international private business self-regulation. While once it was possible to describe CSR as an internal organisational policy or a corporate ethic strategy, that time has passed as various international laws have been developed and various organisations have used their authority to push it beyond individual or even industry-wide initiatives. While it has been considered a form of corporate self-regulation for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organisations, to mandatory schemes at regional, national and even transnational levels. "All organizations adapt in order to do the right thing, to take advantage of new opportunities, and to avoid or mitigate risk."
Considered at the organisational level, CSR is generally understood as a private firm policy. As such, it must align with and be integrated into a business model to be successful. With some models, a firm's implementation of CSR goes beyond compliance with regulatory requirements, and engages in "actions that appear to further some social good, beyond the interests of the firm and that which is required by law". The choices of 'complying' with the law, failing to comply, and 'going beyond' are three distinct strategic organisational choices. While in many areas such as environmental or labor regulations, employers may choose to comply with the law, or go beyond the law, other organisations may choose to flout the law. These organisations are taking on clear legal risks. The nature of the legal risk, however, changes when attention is paid to soft law. Soft law may incur legal liability particularly when businesses make misleading claims about their sustainability or other ethical credentials and practices. Overall, businesses may engage in CSR for strategic or ethical purposes. From a strategic perspective, the aim is to increase long-term profits and shareholder trust through positive public relations and high ethical standards to reduce business and legal risk by taking responsibility for corporate actions. CSR strategies encourage the company to make a positive impact on the environment and stakeholders including consumers, employees, investors, communities, and others. From an ethical perspective, some businesses will adopt CSR policies and practices because of ethical beliefs of senior management. For example, a CEO may believe that harming the environment is ethically objectionable.
Proponents argue that corporations increase long-term profits by operating with a CSR perspective, while critics argue that CSR distracts from businesses' economic role. A 2000 study compared existing econometric studies of the relationship between social and financial performance, concluding that the contradictory results of previous studies reporting positive, negative, and neutral financial impact, were due to flawed empirical analysis and claimed when the study is properly specified, CSR has a neutral impact on financial outcomes. Critics questioned the "lofty" and sometimes "unrealistic expectations" in CSR. or that CSR is merely window-dressing, or an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations. In line with this critical perspective, political and sociological institutionalists became interested in CSR in the context of theories of globalization, neoliberalism and late capitalism. Some institutionalists viewed CSR as a form of capitalist legitimacy and in particular point out that what began as a social movement against uninhibited corporate power was transformed by corporations into a 'business model' and a 'risk management' device, often with questionable results.
CSR is titled to aid an organization's mission as well as serve as a guide to what the company represents for its consumers. Business ethics is the part of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business environment. ISO 26000 is the recognized international standard for CSR. Public sector organizations (the United Nations for example) adhere to the triple bottom line (TBL). It is widely accepted that CSR adheres to similar principles, but with no formal act of legislation.
Since the 1960s, corporate social responsibility has attracted attention from a range of businesses and stakeholders. A wide variety of definitions have been developed but with little consensus. Part of the problem with definitions has arisen because of the different interests represented. A business person may define CSR as a business strategy, an NGO activist may see it as 'greenwash' while a government official may see it as voluntary regulation." In addition, disagreement about the definition will arise from the disciplinary approach." For example, while an economist might consider the director's discretion necessary for CSR to be implemented a risk of agency costs, a law academic may consider that discretion to be an appropriate expression of what the law demands from directors.
Corporate social responsibility has been defined by Sheehy as "international private business self-regulation." Sheehy examined a range of different disciplinary approaches to defining CSR. The definitions reviewed included the economic definition of "sacrificing profits," a management definition of "beyond compliance", institutionalist views of CSR as a "socio-political movement" and law's own focus on directors' duties. Further, Sheehy considered Carroll's description of CSR as a pyramid of responsibilities, namely, economic, legal, ethical, and philanthropic responsibilities. While Carroll was not defining CSR, but simply arguing for classification of activities, Sheehy developed a definition differently following the philosophy of science—the branch of philosophy used for defining phenomena.
Carroll extended corporate social responsibility from the traditional economic and legal responsibility to ethical and philanthropic responsibility in response to the rising concerns on ethical issues in businesses  This view is reflected in the Business Dictionary which defines CSR as "a company's sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs and (3) by earning adequate returns on the employed resources."
|“||Businesses have changed when the public came to expect and require different behavior [...] I predict that in the future, just as in the past, changes in public attitudes will be essential for changes in businesses' environmental practices.||”|
|— Jared Diamond, "Big businesses and the environment"|
Most consumers agree that while achieving business targets, companies should engage in CSR efforts at the same time. Most consumers believe companies doing charity work will receive a positive response. Somerville also found that consumers are loyal and willing to spend more on retailers that support charity. Consumers also believe that retailers selling local products will gain loyalty. Smith (2013) shares the belief that marketing local products will gain consumer trust. However, environmental efforts are receiving negative views given the belief that this would affect customer service. Oppewal et al. (2006) found that not all CSR activities are attractive to consumers. They recommended that retailers focus on one activity. Becker-Olsen (2006) found that if the social initiative done by the company is not aligned with other company goals it will have a negative impact. Mohr et al. (2001) and Groza et al. (2011) also emphasise the importance of reaching the consumer.
Some commentators have identified a difference between the Canadian (Montreal school of CSR), the Continental European and the Anglo-Saxon approaches to CSR. It is said that for Chinese consumers, a socially responsible company makes safe, high-quality products; for Germans it provides secure employment; in South Africa it makes a positive contribution to social needs such as health care and education. And even within Europe the discussion about CSR is very heterogeneous.
A more common approach to CSR is corporate philanthropy. This includes monetary donations and aid given to nonprofit organizations and communities. Donations are made in areas such as the arts, education, housing, health, social welfare and the environment, among others, but excluding political contributions and commercial event sponsorship.
Another approach to CSR is to incorporate the CSR strategy directly into operations, such as procurement of Fair Trade tea and coffee.
Creating shared value or CSV is based on the idea that corporate success and social welfare are interdependent. A business needs a healthy, educated workforce, sustainable resources and adept government to compete effectively. For society to thrive, profitable and competitive businesses must be developed and supported to create income, wealth, tax revenues and philanthropy. The Harvard Business Review article Strategy & Society: The Link between Competitive Advantage and Corporate Social Responsibility provided examples of companies that have developed deep linkages between their business strategies and CSR. CSV acknowledges trade-offs between short-term profitability and social or environmental goals, but emphasizes the opportunities for competitive advantage from building a social value proposition into corporate strategy. CSV gives the impression that only two stakeholders are important - shareholders and consumers.
Many companies employ benchmarking to assess their CSR policy, implementation and effectiveness. Benchmarking involves reviewing competitor initiatives, as well as measuring and evaluating the impact that those policies have on society and the environment, and how others perceive competitor CSR strategy.
In competitive markets cost-benefit analysis of CSR initiatives can be examined using a resource-based view (RBV). According to Barney (1990), "formulation of the RBV, sustainable competitive advantage requires that resources be valuable (V), rare (R), inimitable (I) and non-substitutable (S)." A firm introducing a CSR-based strategy might only sustain high returns on their investment if their CSR-based strategy could not be copied (I). However, should competitors imitate such a strategy, that might increase overall social benefits. Firms that choose CSR for strategic financial gain are also acting responsibly.
RBV presumes that firms are bundles of heterogeneous resources and capabilities that are imperfectly mobile across firms. This imperfect mobility can produce competitive advantages for firms that acquire immobile resources. McWilliams and Siegel (2001) examined CSR activities and attributes as a differentiation strategy. They concluded that managers can determine the appropriate level of investment in CSR by conducting cost benefit analysis in the same way that they analyze other investments. Reinhardt (1998) found that a firm engaging in a CSR-based strategy could only sustain an abnormal return if it could prevent competitors from imitating its strategy.
Moreover, when it comes to cost benefit analysis, you should look at Waddock and Graves (1997), who showed that corporate social performance was positively linked to financial performance, meaning that the benefit of being socially responsible outweigh the costs. McWilliams and Siegel (2000) noted that Waddock and Graves hadn’t taken innovation into account, that companies that did CSR were also very innovative, and that the innovation drove financial performance, not CSR. Hull and Rothenberg (2007) then found that when companies are not innovative, a history of CSR does in fact help financial performance. 
Initially, CSR emphasized the official behaviour of individual firms. Later, it expanded to include supplier behaviour and the uses to which products were put and how they were disposed of after they lost value.
In the 21st century, corporate social responsibility in the supply chain has attracted attention from businesses and stakeholders. Corporations' supply chain is the process by which several organizations including suppliers, customers and logistics providers work together to provide a value package of products and services to the end user, who is the customer.
Corporate social irresponsibility in the supply chain has greatly affected the reputation of companies, leading to a lot of cost to solve the problems. For instance, incidents like the 2013 Savar building collapse, which killed over 1000 people, pushed companies to consider the impacts of their operations on society and environment. On the other side, the horse meat scandal of 2013 in the United Kingdom affected many food retailers, including Tesco, the largest retailer in the United Kingdom, leading to the dismissal of the supplier. Corporate social irresponsibility from both the suppliers and the retailers has greatly affected the stakeholders who lost trust for the affected business entities, and despite the fact that sometimes it's not directly undertaken by the companies, they become accountable to the stakeholders. These surrounding issues have prompted supply chain management to consider the corporate social responsibility context. Wieland and Handfield (2013) suggested that companies need to include social responsibility in their reviews of component quality. They highlighted the use of technology in improving visibility across the supply chain.
Corporate social responsibility includes six types of corporate social initiatives:
- Corporate philanthropy: company donations to charity, including cash, goods, and services, sometimes via a corporate foundation
- Community volunteering: company-organized volunteer activities, sometimes while an employee receives pay for pro-bono work on behalf of a non-profit organization
- Socially-responsible business practices: ethically produced products which appeal to a customer segment
- Cause promotions and activism: company-funded advocacy campaigns
- Cause-related marketing: donations to charity based on product sales
- Corporate social marketing: company-funded behavior-change campaigns
All six of the corporate initiatives are forms of corporate citizenship. However, only some of these CSR activities rise to the level of cause marketing, defined as "a type of corporate social responsibility (CSR) in which a company's promotional campaign has the dual purpose of increasing profitability while bettering society."
Companies generally do not have a profit motive when participating in corporate philanthropy and community volunteering. On the other hand, the remaining corporate social initiatives can be examples of cause marketing, in which there is both a societal interest and profit motive.
An engagement plan can assist in reaching a desired audience. A corporate social responsibility individual or team plans the goals and objectives of the organization. As with any corporate activity, a defined budget demonstrates commitment and scales the program's relative importance.
Accounting, auditing and reportingEdit
Social accounting emphasizes the notion of corporate accountability. Crowther defines social accounting as "an approach to reporting a firm's activities which stresses the need for the identification of socially relevant behavior, the determination of those to whom the company is accountable for its social performance and the development of appropriate measures and reporting techniques." Reporting guidelines and standards serve as frameworks for social accounting, auditing and reporting:
- 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
- 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 verifies labour conditions in companies' supply chains, using interdisciplinary auditing teams.
- Global Reporting Initiative's Sustainability Reporting Guidelines
- Economy for the Common Good's Common Good Balance Sheet
- GoodCorporation's standard developed in association with the Institute of Business Ethics
- Synergy Codethic 26000 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 built around ISO 26000 and UNCTAD Guidance on Good Practices in Corporate Governance. The standard is applicable by any type of organization.;
- Earthcheck Certification / Standard
- Social Accountability International's SA8000 standard
- Standard Ethics Aei guidelines
- The ISO 14000 environmental management standard
- The United Nations Global Compact requires companies to communicate on their progress (or to produce a Communication on Progress, COP), and to describe the company's implementation of the Compact's ten universal principles.
- The United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) provides voluntary technical guidance on eco-efficiency indicators, corporate responsibility reporting, and corporate governance disclosure.
- The FTSE Group publishes the FTSE4Good Index, an evaluation of CSR performance of companies.
- EthicalQuote (CEQ) tracks reputation of the world's largest companies on Environmental, Social, Governance (ESG), Corporate Social Responsibility, ethics and sustainability.
- The Islamic Reporting Initiative (IRI) is a not-for-profit organization which leads the creation of the IRI framework; the guiding integrated CSR reporting framework based on Islamic principles and values.
In nations such as France, legal requirements for social accounting, auditing and reporting exist, though international or national agreement on meaningful measurements of social and environmental performance has not been achieved. Many companies produce externally audited annual reports that cover Sustainable Development and CSR issues ("Triple Bottom Line Reports"), but the reports vary widely in format, style, and evaluation methodology (even within the same industry). Critics dismiss these reports as lip service, citing examples such as Enron's yearly "Corporate Responsibility Annual Report" and tobacco companies' social reports.
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. An integrated report reviews environmental, social and economic performance alongside financial performance. This requirement was implemented in the absence of formal or legal standards. An Integrated Reporting Committee (IRC) was established to issue guidelines for good practice.
One of the reputable institutions that capital markets turn to for credible sustainability reports is the Carbon Disclosure Project, or CDP.
Corporate social responsibility and its resulting reports and efforts should be verified by the consumer of the goods and services. The accounting, auditing and reporting resources provide a foundation for consumers to verify that their products are socially sustainable. Due to an increased awareness of the need for CSR, many industries have their own verification resources. The include organizations like the Forest Stewardship Council (paper and forest products), International Cocoa Initiative, and Kimberly Process (diamonds). The United Nations also provides frameworks not only for verification, but for reporting of human rights violations in corporate supply chains.
The rise of ethics training inside corporations, some of it required by government regulation, has helped CSR to spread. The aim of such training is to help employees make ethical decisions when the answers are unclear. The most direct benefit is reducing the likelihood of "dirty hands", fines and damaged reputations for breaching laws or moral norms. Organizations see increased employee loyalty and pride in the organization.
Common CSR actions include:
- Environmental sustainability: recycling, waste management, water management, renewable energy, reusable materials, 'greener' supply chains, reducing paper use and adopting Leadership in Energy and Environmental Design (LEED) building standards.
- Community involvement: This can include raising money for local charities, providing volunteers, sponsoring local events, employing local workers, supporting local economic growth, engaging in fair trade practices, etc.
- Ethical marketing: Companies that ethically market to consumers are placing a higher value on their customers and respecting them as people who are ends in themselves. They do not try to manipulate or falsely advertise to potential consumers. This is important for companies that want to be viewed as ethical.
Social license to operateEdit
Social License to Operate can be determined as a contractual grounds for the legitimacy of activities and projects company is involved in. It refers to the level of support and approval of a company’s activities by its stakeholders. Displaying commitment to CSR is one way to achieve social license, by enhancing a company's reputation.
As stated in Enduring value: the Australian minerals industry framework for sustainable development the concept of the 'social license to operate', then defined simply as obtaining and maintaining broad community support and acceptance. Unless a company earns and maintains that license social license holders may intend to block project developments; employees may leave the company for a company that is a better corporate citizen: and companies may be under ongoing legal challenge.
In research of Requisite Organization Dr Elliott Jaques defines Social License to Operate for the company as the social contract the company has with the social license holders (employees, trade unions, communities, government) for them to manifest positive intention to support the business short- and long-term objectives by “providing managerial leadership that nurtures the social good and also gives the foundation for sustainable growth in organizational results.”
The primary objective for the companies is to obtain and maintain the Social License to Operate. Based on the Requisite Organization research of Dr. Elliott Jaques to achieve this goal a company needs to:
- Identify the business strategy and business objectives
- Identify the social license holders (employees of a company, labour unions, local and national governments, communities, activist groups, etc.) for every business objectives
- Identify the support that the company desires to achieve from the social license holders by specifying for every business objective social license elements (target of support, context of support, time of support, action of support)
- Quantitatively measure the intention (positive or negative) of the social license holders to support the business objectives
- Identify the factors that negatively impact the intention of the social license holders to support the business objectives (strength of their belief in support, their evaluation of support outcomes, pressure to provide support, enablers / disablers of support, etc.)
- Develop the Social License Development Strategy to remove the negative factors and ensure positive intention of all the social license holders to support all the business objectives of the company.
- Perform ongoing monitoring and quantitative measurement of changes in the Social License to Operate of the company
Potential business benefitsEdit
A large body of literature exhorts business to adopt non-financial measures of success (e.g., Deming's Fourteen Points, balanced scorecards). While CSR benefits are hard to quantify, Orlitzky, Schmidt and Rynes found a correlation between social/environmental performance and financial performance.
"People, planet and profit", also known as the triple bottom line, form one way to evaluate CSR. "People" refers to fair labour practices, the community and region where the business operates. "Planet" refers to sustainable environmental practices. Profit is the economic value created by the organization after deducting the cost of all inputs, including the cost of the capital (unlike accounting definitions of profit).
This measure was claimed to help some companies be more conscious of their social and moral responsibilities. However, critics claim that it is selective and substitutes a company's perspective for that of the community. Another criticism is about the absence of a standard auditing procedure.
The term was coined by John Elkington in 1994.
A CSR program can be an aid to recruitment and retention, particularly within the competitive graduate student market. Potential recruits often consider a firm's CSR policy. CSR can also help improve the perception of a company among its staff, particularly when staff can become involved through payroll giving, fundraising activities or community volunteering. CSR has been credited with encouraging customer orientation among customer-facing employees.
CSR is known for impacting employee turnover. Several executives suggest that employees are their most valuable asset and that the ability to retain them leads to organization success. Socially responsible activities promote fairness, which in turn generate lower employee turnover. On the other hand, if an irresponsible behavior is demonstrated by a firm, employees may view this behavior as negative. Proponents argue that treating employees well with competitive pay and good benefits is seen as a socially responsible behavior and therefore reduces employee turnover. Executives have a strong desire for building a positive work context that benefits CSR and the company as a whole. This interest is driven particularly by the realization that a positive work environment can result in desirable outcomes such as more favorable job attitudes and increased work performance.
The IBM Institute for Business Value conducted a survey of 250 business leaders worldwide in 2008. The survey found out that businesses have assimilated a much more strategic view, and that 68% companies reported are utilizing CSR as an opportunity and part of a sustainable growth strategy. The authors noted that while developing and implementing a CSR strategy represents a unique opportunity to benefit the company. However, only 31% of businesses surveyed engaged their employees on the company's CSR objectives and initiatives. The survey's authors also stated that employee engagement on CSR initiatives can be a powerful recruitment and retention tool. As a result, employees tend to discard employers with a bad reputation.
Managing risk is an important executive responsibility. Reputations that take decades to build up can be ruined in hours through corruption scandals or environmental accidents. These draw unwanted attention from regulators, courts, governments and media. CSR can limit these risks.
CSR can help build customer loyalty based on distinctive ethical values. Some companies use their commitment to CSR as their primary positioning tool, e.g., The Co-operative Group, The Body Shop and American Apparel.
Some companies use CSR methodologies as a strategic tactic to gain public support for their presence in global markets, helping them sustain a competitive advantage by using their social contributions as another form of advertising.
Companies that operate strong CSR activities tend to drive customer's attention to buy products or services regardless of the price. As a result, this increases competition among firms since customers are aware of the company's CSR practices. These initiatives serve as a potential differentiator because they not only add value to the company, but also to the products or services. Furthermore, firms under intense competition are able to leverage CSR to increase the impact of their distribution on the firm's performance. Lowering the carbon footprint of a firm's distribution network or engaging in fair trade are potential differentiators to lower costs and increase profits. In this scenario, customers can observe the company's commitment to CSR while increasing company sales.
Whole Foods' marketing and promotion of organic foods have had a positive effect on the supermarket industry. Proponents assert that Whole Foods has been able to work with its suppliers to improve animal treatment and quality of meat offered in their stores. They also promote local agricultures in over 2,400 independent farms to maintain their line of sustainable organic produce. As a result, Whole Foods' high prices do not turn customers away from shopping. In fact, they are pleased buying organic products that come from sustainable practices.
According to a Harvard Business Review article, there are three theaters of practice in which CSR can be divided. Theater one focuses on philanthropy, which includes donations of money or equipment to non-profit organizations, engagement with communities' initiatives and employee volunteering. This is characterized as the "soul" of a company, expressing the social and environmental priorities of the founders. The authors assert that companies engage in CSR because they are an integral part of the society. The Coca-Cola Company contributes with $88.1 million annually to a variety of environmental educational and humanitarian organization. Another example is PNC Financial Services' "Grow Up Great" childhood education program. This program provides critical school readiness resources to underserved communities where PNC operates.
On the other hand, theater two focuses on improving operational effectiveness in the workplace. The researchers assert that programs in this theater strive to deliver social or environmental benefits to support a company's operation across the value chain by improving efficiency. Some of the examples mentioned include sustainability initiatives to reduce resource use, waste, and emission that could potentially reduce costs. It also calls for investing in employee work conditions such as health care and education which may enhance productivity and retention. Unlike philanthropic giving, which is evaluated by its social and environmental return, initiatives in the second theater are predicted to improve the corporate bottom line with social value. Bimbo, the largest bakery in Mexico, is an excellent example of this theater. The company strives to meet social welfare needs. It offers free educational service to help employees complete high school. Bimbo also provides supplementary medical care and financial assistance to close gaps in the government health coverage.
Moreover, the third theater program aims to transform the business model. Basically, companies create new forms of business to address social or environmental challenges that will lead to financial returns in the long run. One example can be seen in Unilever's Project Shakti in India. The authors describe that the company hires women in villages and provides them with micro-finance loans to sell soaps, oils, detergents, and other products door-to-door. This research indicates that more than 65,000 women entrepreneurs are doubling their incomes while increasing rural access and hygiene in Indian villages. Another example is IKEA's People and Planet initiative to be 100% sustainable by 2020. As a consequence, the company wants to introduce a new model to collect and recycle old furniture.
Corporations are keen to avoid interference in their business through taxation or regulations. A CSR program can persuade governments and the public that a company takes health and safety, diversity and the environment seriously, reducing the likelihood that company practices will be closely monitored.
This section does not cite any sources. (February 2018) (Learn how and when to remove this template message)
Appropriate CSR programs can increase the attractiveness of supplier firms to potential customer corporations. E.g., a fashion merchandiser may find value in an overseas manufacturer that uses CSR to establish a positive image—and to reduce the risks of bad publicity from uncovered misbehavior.
Criticisms and concernsEdit
CSR concerns include its relationship to the purpose of business and the motives for engaging in it.
Nature of businessEdit
Milton Friedman and others argued that a corporation's purpose is to maximize returns to its shareholders and that obeying the laws of the jurisdictions within which it operates constitutes socially responsible behavior.
While some CSR supporters claim that companies practicing CSR, especially in developing countries, are less likely to exploit workers and communities, critics claim that CSR itself imposes outside values on local communities with unpredictable outcomes.
Better governmental regulation and enforcement, rather than voluntary measures, are an alternative to CSR that moves decision-making and resource allocation from public to private bodies. However, critics claim that effective CSR must be voluntary as mandatory social responsibility programs regulated by the government interferes with people's own plans and preferences, distorts the allocation of resources, and increases the likelihood of irresponsible decisions.
Some critics believe that CSR programs are undertaken by companies to distract the public from ethical questions posed by their core operations. They argue that the reputational benefits that CSR companies receive (cited above as a benefit to the corporation) demonstrate the hypocrisy of the approach. Moreover, some studies find that CSR programs are motivated by corporate managers' personal interests at the cost of the shareholders so they are a type of an agency problem in corporations.
Others have argued that the primary purpose of CSR is to provide legitimacy to the power of businesses. As wealth inequality is perceived to be increasing it has become increasingly necessary for businesses to justify their position of power. Bakan is one of the most prominent critics of the conflict of interest between private profit and public good, and his argument is summarised by Haynes that "a corporate calculus exists in which costs are pushed onto both workers, consumers and the environment". CSR spending may be seen in these financial terms, whereby the higher costs of socially undesirable behaviour are offset by a CSR spending of a lower amount. Indeed, it has been argued that there is a "halo effect" in terms of CSR spending. Research has found that firms which had been convicted of bribery in the USA under the Foreign Corrupt Practices Act (FCPA) received more lenient fines if they had been seen to be actively engaging in comprehensive CSR practices. It was found that typically either a 20% increase in corporate giving or a commitment to eradicating a significant labour issue, such as child labour, was equated to a 40% lower fine in the case of bribing foreign officials.
Aguinis and Glavas conducted a comprehensive review of CSR literature, covering 700 academic sources from numerous fields including organizational behaviour, corporate strategy, marketing and HRM. It was found that the primary reason for firms to engage in CSR were the expected financial benefits associated with CSR, rather than being motivated a desire to be responsible to society.
CEOs' political ideologies are evident manifestations of their different personal views. Each CEO may exercise different powers according to their organizational outcomes. In fact, their political ideologies are expected to influence their preferences for the CSR outcomes. Proponents argue that politically liberal CEOs will envision the practice of CSR as beneficial and desirable to increase a firm's reputation. They tend to focus more on how the firm can meet the needs of the society. As a consequence, they will advance with the practice of CSR while adding value to the firm. On the other hand, property rights may be more relevant to conservative CEOs. Since conservatives tend to value free markets, individualism and call for a respect of authority, they will not likely envision this practice as often as those identifying as liberals might.
The financials of the company and the practice of CSR also have a positive relationship. Moreover, the performance of a company tends to influence conservatives more likely than liberals. While not seeing it from the financial performance point of view, liberals tend to hold a view that CSR adds to the business triple bottom line. For instance, when the company is performing well, they will most likely promote CSR. If the company is not performing as expected, they will rather tend to emphasize this practice because they will potentially envision it as a way to add value to the business. In contrast, politically conservative CEOs will tend to support the practice of CSR if they hold a view that it will provide a good return to the financials of the company. In other words, this type of executives tend to not see the outcome of CSR as a value to the company if it does not provide anything in exchange.
There have been unsubstantiated social efforts, ethical claims, and outright greenwashing by some companies that has resulted in increasing consumer cynicism and mistrust. Sometimes companies use CSR to direct public attention away from other, harmful business practices. For example, McDonald's Corporation positioned its association with Ronald McDonald House and other children's charities as CSR while its meals have been accused of promoting poor eating habits.
Acts which may initially appear to be altruistic CSR may have ulterior motives. The funding of scientific research projects has been used as a source of misdirection by firms. Prusiner, who discovered the protein responsible of CJD and won the 1997 Nobel prize in Medicine, thanked the tobacco company RJ Reynolds for their crucial support. RJ Reynolds funded the research into CJD. Proctor states that "the tobacco industry was the leading funder of research into genetics, viruses, immunology, air pollution" anything which formed a distraction from the well-established research linking smoking and cancer.
Research has also found that corporate social marketing, a form of CSR promoting societal good, is being used to direct criticism away from the damaging practices of the alcohol industry. It has been shown that adverts which supposedly encourage responsible drinking simultaneously aim to promote drinking as a social norm. Companies may engage in CSR and social marketing in this case to prevent more stringent government legislation on alcohol marketing.
Industries such as tobacco, alcohol or munitions firms make products that damage their consumers or the environment. Such firms may engage in the same philanthropic activities as those in other industries. This duality complicates assessments of such firms with respect to CSR.
The Kizhakkambalam takeoverEdit
Textile company Kitex has taken over the administration of an entire Indian village called Kizhakkambalam near Cochin by winning the local body elections. Environmentalists and mainstream politicians of India point out that this can lead to a dangerous precedent because the company got actively involved in CSR only after they were caught red-handed in polluting the village.
One motivation for corporations to adopt CSR is to satisfy stakeholders beyond those of a corporation's shareholders.
Branco and Rodrigues (2007) describe the stakeholder perspective of CSR as the set of views of corporate responsibility held by all groups or constituents with a relationship to the firm. In their normative model the company accepts these views as long as they do not hinder the organization. The stakeholder perspective fails to acknowledge the complexity of network interactions that can occur in cross-sector partnerships. It relegates communication to a maintenance function, similar to the exchange perspective.
The rise in popularity of ethical consumerism over the last two decades can be linked to the rise of CSR. Consumers are becoming more aware of the environmental and social implications of their day-to-day consumption decisions and in some cases make purchasing decisions related to their environmental and ethical concerns.
One issue with the consumer's relationship with CSR is that it is much more complex than it first appears. In their paper on the consumer and CSR, Janssen and Vanhamme looked into a phenomenon that they termed the "CSR-Consumer Paradox". This describes the mismatch that occurs where consumers report that they would only buy from companies with good social responsibility. A survey by Cohn & Wolfe found that globally over 60% of consumers want to buy from responsible companies. However, Janssen and Vanhamme reported that less than 4% of average household expenditure in the UK in 2010 was ethical. This indicates that there is a clear discrepancy between consumer beliefs and intentions, and actual consumer behaviour, so that when it comes down to their actual purchase behaviour, CSR has a much lesser impact than consumers initially say it does.
One theory put forward for explaining the "CSR-Consumer Paradox" is that of "bystander apathy" or the bystander effect. This theory stems from the social psychology works of Darley and Latané and states that the likelihood of an individual acting in a given situation is greatly reduced if other bystanders do nothing even if that individual strongly believes in a certain course of action. In terms of explaining the CSR-Consumer Paradox, this theory would suggest an "If they do not care then why should I?" mentality. So even if a consumer is against the use of sweatshops or wants to support green causes, they may continue to make purchases from companies that are socially irresponsible just because other consumers seem apathetic towards the issue.
A second explanation issued by Janssen and Vanhamme is that of reciprocal altruism. This is a key concept in evolutionary psychology that is argued to fuel all human behaviour: people only do something if they can get something back in return. In the case of CSR and ethical consumerism, however, consumers get very little in return for their investment. Ethically sourced or manufactured products are typically higher in price due to greater costs. However, the reward for consumers is not much different from that of a non-ethical counterpart. Therefore, evolutionary speaking making an ethical purchase is not worth the higher cost to the individual even if they believe in supporting ethically, environmentally and socially beneficial causes.
Socially responsible investingEdit
Shareholders and investors, through socially responsible investing, are using their capital to encourage behavior they consider responsible. However, definitions of what constitutes ethical behavior vary. For example, some religious investors in the US have withdrawn investment from companies that violate their religious views, while secular investors divest from companies that they see as imposing religious views on workers or customers.
Some national governments promote socially and environmentally responsible corporate practices. The heightened role of government in CSR has facilitated the development of numerous CSR programs and policies. Various European governments have pushed companies to develop sustainable corporate practices. CSR critics such as Robert Reich argued that governments should set the agenda for social responsibility with laws and regulation that describe how to conduct business responsibly.
Fifteen European Union countries are actively engaged in CSR regulation and public policy development. CSR efforts and policies are different among countries, responding to the complexity and diversity of governmental, corporate and societal roles. Some studies have claimed that the role and effectiveness of these actors were case-specific. This variety among company approaches to CSR can complicate regulatory processes.
The 'Heilbronn Declaration' is a voluntary agreement of enterprises and institutions in Germany especially of the Heilbronn-Franconia region signed the 15th of September 2012. The approach of the 'Heilbronn Declaration' targets the decisive factors of success or failure, the achievements of the implementation and best practices regarding CSR. A form of responsible entrepreneurship shall be initiated to meet the requirements of stakeholders' trust in economy. It is an approach to make voluntary commitments more binding.
In opposition to mandated CSR regulation, Researchers Armstrong & Green suggest that all regulation is "harmful", citing regulation as the cause for North Korea's low economic freedom and per capita GDP. They further claim without source that "There is no form of market failure, however egregious, which is not eventually made worse by the political interventions intended to fix it," and conclude "there is no need for further research on regulation in the name of social responsibility."
In the 1800s, the US government could take away a firm's license if it acted irresponsibly. Corporations were viewed as "creatures of the state" under the law. In 1819, the United States Supreme Court in Dartmouth College vs. Woodward established a corporation as a legal person in specific contexts. This ruling allowed corporations to be protected under the Constitution and prevented states from regulating firms. Recently countries included CSR policies in government agendas.
On 16 December 2008, the Danish parliament adopted a bill making it mandatory for the 1100 largest Danish companies, investors and state-owned companies to include CSR information in their financial reports. The reporting requirements became effective on 1 January 2009. The required information included:
- CSR/SRI policies
- How such policies are implemented in practice
- Results and management expectations
CSR/SRI is voluntary in Denmark, but if a company has no policy on this it must state its positioning on CSR in financial reports.
In 1995, item S50K of the Income Tax Act of Mauritius mandated that companies registered in Mauritius paid 2% of their annual book profit to contribute to the social and environmental development of the country. In 2014, India also enacted a mandatory minimum CSR spending law. Under Companies Act, 2013, any company having a net worth of 500 crore or more or a turnover of 1,000 crore or a net profit of 5 crore must spend 2% of their net profits on CSR activities. The rules came into effect from 1 April 2014.
The only mandatory CSR law in the world thus far was passed by the Indian parliament in 2013 as Article 135 of the Companies Law. According to that bill, all firms with net worth above $75 million, turnover over $150 million, or net profit over $750,000 are required to spend at least 2% of their annual profits (averaged over three years). The law requires that all businesses affected establish a CSR committee to oversee the spending. Prior to this law’s passage, CSR laws applied to public sector companies only.
Crises and their consequencesEdit
Crises have encouraged the adoption of CSR. The CERES principles were adopted following the 1989 Exxon Valdez incident. Other examples include the lead paint used by toy maker Mattel, which required the recall of millions of toys and caused the company to initiate new risk management and quality control processes. Magellan Metals was found responsible for lead contamination killing thousands of birds in Australia. The company ceased business immediately and had to work with independent regulatory bodies to execute a cleanup. Odwalla experienced a crisis with sales dropping 90% and its stock price dropping 34% due to cases of E. coli. The company recalled all apple or carrot juice products and introduced a new process called "flash pasteurization" as well as maintaining lines of communication constantly open with customers.
Corporations that employ CSR behaviors do not always behave consistently in all parts of the world. Conversely, a single behavior may not be considered ethical in all jurisdictions. E.g., some jurisdictions forbid women from driving, while others require women to be treated equally in employment decisions.
UK retail sectorEdit
A 2006 study found that the UK retail sector showed the greatest rate of CSR involvement. Many of the big retail companies in the UK joined the Ethical Trading Initiative, an association established to improve working conditions and worker health.
Tesco (2013) reported that their 'essentials' are 'Trading responsibility', 'Reducing our Impact on the Environment', 'Being a Great Employer' and 'Supporting Local Communities'. J Sainsbury employs the headings 'Best for food and health', 'Sourcing with integrity', 'Respect for our environment', 'Making a difference to our community', and 'A great place to work', etc. The four main issues to which UK retail these companies committed are environment, social welfare, ethical trading and becoming an attractive workplace.
|Retailer||Annual sales £bn|
|Mark and Spencer||8.87|
|John Lewis Partnership||7.76|
|Home Retail Group||5.49|
Anselmsson and Johansson (2007) assessed three areas of CSR performance: human responsibility, product responsibility and environmental responsibility. Martinuzzi et al. described the terms, writing that human responsibility is "the company deals with suppliers who adhere to principles of natural and good breeding and farming of animals, and also maintains fair and positive working conditions and work-place environments for their own employees. Product responsibility means that all products come with a full and complete list of content, that country of origin is stated, that the company will uphold its declarations of intent and assume liability for its products. Environmental responsibility means that a company is perceived to produce environmental-friendly, ecological, and non-harmful products". Jones et al. (2005) found that environmental issues are the most commonly reported CSR programs among top retailers.
CSR and US corporations updatesEdit
An article published in Forbes.com last September 2017 mentioned the yearly study of Boston-based reputation management consulting company Reputation Institute (RI) which rates the top 10 US corporations in terms of corporate social responsibility. RI monitors social responsibility reputations by focusing on perception of consumers regarding company governance, positive impact on the community and society, and treatment of the workforce. It rates each criterion with the firm’s proprietary RepTrak Pulse platform. Forbes identified the companies as Lego, Microsoft, Google, Walt Disney Company, BMW Group, Intel, Robert Bosch, Cisco Systems, Rolls-Royce Aerospace, and Colgate-Palmolive.
According to the CSR Journal, the millennial generation worldwide helps propel brands toward social responsibility. Many millennials want to conduct business with companies and trademarks that employ pro-social themes, sustainable manufacturing processes, and ethical business practices. Nielsen Holdings published its Annual Global Corporate Sustainability Report in 2017 concentrating on global responsibility as well as sustainability. Nielsen’s 2015 report showed that 66 percent of consumers will spend more on products that come from sustainable brands. Another 81 percent expect their preferred corporate institutions to reveal in public their statements about corporate citizenship
The National Association on the Advancement of Colored People (NAACP) through its chief executive officer Derrick Johnson shared the organization’s insights on how American corporations can help in the realization of social justice. According to the article from Yahoo News, the NAACP has been engaged in a crusade for racial justice and economic opportunities during the last 109 years. This organization believes all citizens in the United States must be held liable in ensuring democracy works for all people.
- United Nations Guiding Principles on Business and Human Rights (2011)
- OECD Guidelines for Multinational Enterprises (2011)
- Business in the Community
- Business philosophy
- Carbon neutrality
- Carbon offset
- Chief green officer
- Civil society
- Conscious business
- Corporate behaviour
- Corporate governance
- Corporate personhood
- Corporate social entrepreneurship
- Corporate sustainability
- Customer engagement
- Development studies
- Ethical banking
- Ethical code
- Ethical job
- Ethical Positioning Index (EPI)
- Green economy
- Green job
- Inclusive business
- Integrity management
- Interest of the company
- International development
- ISO 26000
- Life cycle assessment
- Matching gift
- Noblesse oblige
- OECD Guidelines for Multinational Enterprises
- Organizational ethics
- Organizational justice
- Psychopathy in the workplace
- Purple economy
- Responsible mining
- Responsible Research and Innovation
- Shareholder primacy
- Social development
- Social work
- Socially responsible investing
- Socially responsible marketing
- Voluntary compliance
- Volunteer grant
- Wood, Donna J. (1991). "Corporate Social Performance Revisited". The Academy of Management Review. 16 (4): 691–718. doi:10.2307/258977. JSTOR 258977.
- Mackey, John and Sisodia, Rajendra, Conscious Capitalism (2013)
- Lin, Tom C. W., Incorporating Social Activism (December 1, 2018). 98 Boston University Law Review 1535 (2018)
- Sheehy, Benedict (2015-10-01). "Defining CSR: Problems and Solutions". Journal of Business Ethics. 131 (3): 625–648. doi:10.1007/s10551-014-2281-x. ISSN 0167-4544.
- N. Malhotra (of Stanford GSB); J. Dann (Jul 1, 2009). "Business Ethics Integral to Corporate Strategy, says Stanford's Malhotra". cbsnews.com. Archived from the original on March 18, 2017. Retrieved Aug 14, 2018.
[BNET:] Ethics as central to overall corporate strategy--is that conventional wisdom or is that a new approach? [Professor:] I think a lot of students think, "Ethics is a constraint on profits." A lot of corporate social responsibility is taught as a part of marketing.
- Sheehy, Benedict (2012). "Understanding CSR: An Empirical Study of Private Regulation" (PDF). Monash University Law Review. 38: 103–127.
- Willard, B. (2018). The Business Case for Sustainable Dentistry. Journal of the American College of Dentists, 85(3), 9.
- McWilliams, Abagail; Siegel, Donald (2001). "Corporate social responsibility: A theory of the firm perspective". Academy of Management Review. 26 (1): 117–127. doi:10.5465/amr.2001.4011987.
- McWilliams, Abagail; Siegel, Donald; Wright, Patrick M. (March 2006). "Corporate Social Responsibility: International Perspectives" (PDF). Working Papers (0604). Troy, New York: Department of Economics, Rensselaer Polytechnic Institute.
- Klarsfeld, A., Delpuech, C. (2008). Hard law, soft law, weak law: the implications of the neo-institutional and social regulation theories on CSR and the distinction between hard and soft law, Working Paper, Toulouse Business School
- Farrington, Thomas; Curran, Ross; Gori, Keith; O'Gorman, Kevin D.; Queenan, C. Jane (2017). "Corporate social responsibility: reviewed, rated, revised". International Journal of Contemporary Hospitality Management. 29 (1): 30–47. doi:10.1108/IJCHM-05-2015-0236. Retrieved 19 January 2018.
- Paumgarten, Nick (2016-09-12). "Patagonia's Philosopher-King". The New Yorker. ISSN 0028-792X. Retrieved 2018-04-24.
- McWilliams, Abagail; Siegel, Donald (6 April 2000). "Corporate social responsibility and financial performance: correlation or misspecification?". Strategic Management Journal. 21 (5): 603–609. doi:10.1002/(SICI)1097-0266(200005)21:5<603::AID-SMJ101>3.0.CO;2-3.
- Beatty, Jeffrey F.; Samuelson, Susan S. (2009). Introduction to Business Law. Cengage Learning.
- Rosenberg, Matthew J. (1 April 2002). "Review of Misguided Virtue: False Notions of Corporate Social Responsibility". International Affairs. Archived from the original on 2013-05-29. Retrieved 2013-04-26.
- Henderson, David (2001). Misguided Virtue: False Notions of Corporate Social Responsibility. Institute of Economic Affairs. p. 171. ISBN 0-255-365101.
- Shamir, R. (2011). "Socially Responsible Private Regulation: World-Culture or World-Capitalism?". Law & Society Review. 45 (2): 313–336. doi:10.1111/j.1540-5893.2011.00439.x.
- De George 2011.
- Sommer, Jr., A.A. (1991). "Whom should the corporation serve? the Berle Dodd debate revisited sixty years later". Delaware Journal of Corporate Law. 16.
- Sheehy, Benedict; Feaver, Donald (2014). "Anglo-American Directors' Legal Duties and CSR: Prohibited, Permitted or Prescribed?". Dalhousie Law Journal. 31: 345. Retrieved December 9, 2018 – via HeinOnline.
- Carroll, Archie B. (July 1991). "The pyramid of corporate social responsibility: Toward the moral management of organizational stakeholders". Business Horizons. 34 (4): 39–48. doi:10.1016/0007-6813(91)90005-g. ISSN 0007-6813.
- "Definition of: corporate social responsibility". businessdictionary.com. Retrieved December 9, 2018.
- Kaschny, Martin (2018). Innovation and Transformation. Germany: Springer Verlag. pp. 297, 298. ISBN 978-3-319-78523-3.
- Jared Diamond, Collapse: How Societies Choose to Fail or Survive, Penguin Books, 2011, chapter "Big businesses and the environment: different conditions, different outcomes", page 485 (ISBN 978-0-241-95868-1).
- Epstein-Reeves 2010.
- Somerville 2013.
- Kardashian 2013.
- Smith, Nicola (2013). "Corporate social responsibility: Power to the people". Retrieved 28 April 2014.
- Oppewal, Alexander & Sulliwan 2006.
- Smith, Lopez & Read 2010.
- Becker-Olsen, K. L.; Cudmore B. A.; Hill R. P. "The impact of perceived corporate social responsibility on consumer behaviour". Journal of Business Research.
- Mohr, L. A.; Webb D. J. and Harris K. E. "Do Consumers Expect Companies to be Socially Responsible? The Impact of Corporate Social Responsibility on Buying Behavior". Journal of Consumer Affairs. 1. 35.
- Groza, M. D.; Pronschinske M. R.; Walker M. "Perceived Organizational Motives and Consumer Responses to Proactive and Reactive CSR". Journal of Business Ethics. 102 (4).
- Saether, Kim T.; Aguilera, Ruth V. (2008). "Corporate Social Responsibility in a Comparative Perspective". In Crane, A.; et al. The Oxford Handbook of Corporate Social Responsibility (PDF). Oxford University Press. ISBN 0-19-921159-0. Archived from the original (PDF) on 2009-03-27. Retrieved 2008-03-06.
- Maverlinn and Vermander, B. (2013). "Corporate Social Responsibility in China: A Vision, an Assessment and a Blueprint, World Scientific".
- Knox, Simon (2007). Ramsden, J.J.; Aida, S. and; Kakabadse, A, eds. Corporate Social Responsibility and Business Decision Making. Spiritual Motivation: New Thinking for Business and Management. Basingstoke:: Palgrave Macmillan. ISBN 978-0-230-54291-4.
- Habisch et al. 2005.
- Tilcsik, András; Marquis, Christopher (1 February 2013). "Punctuated Generosity: How Mega-events and Natural Disasters Affect Corporate Philanthropy in U.S. Communities". Administrative Science Quarterly. Social Science Research Network. 58 (1): 111–148. doi:10.1177/0001839213475800. Retrieved 19 January 2018.
- Porter & Kramer 2006.
- Hoessle, Ulrike. Ten Steps Toward a Sustainable Business (WWS Series 1 Seattle 2013). ISBN 978-0-9898270-0-3.
- Barney, J. (1991). "Firm Resources and Sustained Competitive Advantage". Journal of Management. 17: 99–120. doi:10.1177/014920639101700108.
- Wernerfelt, B. (1984). "A resource-based view of the firm". Strategic Management Journal. 5 (2): 171–180. doi:10.1002/smj.4250050207.
- Siegel, Donald S. (2009). "Green Management Matters Only If It Yields More Green: An Economic/Strategic Perspective". 23 (3). Academy of Management Perspectives: 5–16.
- Hull, Clyde; ROTHENBERG, SANDRA (February 2008). "Firm Performance: The Interactions of Corporate Social Performance with Innovation and Industry Differentiation" (PDF). Strategic Management Journal. Strat. Mgmt. J. , 29 : 781 – 789.
- Simchi-Levi;kaminsky, D.P, Levi;D., P (2002). Designing and managing the supply chain. New York: McGraw Hill/Irwin.CS1 maint: Multiple names: authors list (link)
- Mason, Rowena (24 February 2013). "Horsemeat scandal: supermarkets have failed to check meat suppliers, MPs told". Retrieved 19 January 2018 – via www.telegraph.co.uk.
- Wieland, Andreas; Handfield, Robert B. (2013). "The Socially Responsible Supply Chain: An Imperative for Global Corporations". Supply Chain Management Review. 17 (5): 22–29.
- Lee, Nancy; Kotler, Philip (2013). Corporate social responsibility doing the most good for your company and your cause. Hoboken, N.J.: Wiley. ISBN 9781118045770.
- Organ, Michael. "Cause Marketing — Definition". Retrieved June 14, 2017.
- "Corporate Social Responsibility and Ethical Careers". University of Edinburgh Careers Service. Retrieved 2008-03-07.
- Tilt, C. A. (2009). "Corporate Responsibility, Accounting and Accountants". Professionals' Perspectives of Corporate Social Responsibility. pp. 11–32. doi:10.1007/978-3-642-02630-0_2. ISBN 978-3-642-02629-4.
- Crowther, David (2000). Social and Environmental Accounting. Financial Times/Prentice Hall. p. 20. ISBN 978-0-273-65092-8.
- "Connected Reporting in Practice: a consolidated case study". Archived from the original on September 23, 2010. Retrieved August 19, 2016.
- "Creating a Common Good Balance Sheet". Economy for the Common Good. Archived from the original on April 26, 2013. Retrieved August 19, 2016.
- "The GoodCorporation Standard" (PDF). GoodCorporation. July 2010. Retrieved August 19, 2016.
- Synergy-gss. "Synergy". Synergy-gss.com. Retrieved 2013-04-22.
- "Reporting - UN Global Compact". www.unglobalcompact.org. Retrieved 19 January 2018.
- "United Nations Global Compact" (PDF). Retrieved 19 January 2018.
- "ITEIPC 20037" (PDF). Retrieved 19 January 2018.
- "ITETEB 20076" (PDF). Retrieved 19 January 2018.
- "ITETEB 20063" (PDF). Retrieved 19 January 2018.
- Ajaz Ali. "Philanthropy, CSR and economic growth". Saudi Gazette.
- "News Articles and Press & media releases" (Press release). South African Institute of Chartered Accountants. 2010-03-01. Retrieved 2013-04-22.
- "Verifying Delivery of Sustainable Products and Services - GSA Sustainable Facilities Tool". U.S. General Services Administration. Retrieved 19 January 2018.
- "Resources for Verifying Sustainable Products - GSA Sustainable Facilities Tool". U.S. General Services Administration. Retrieved 2016-03-11.
- Tullberg, J.; Tullberg, S. (1996). "On Human Altruism: The Discrepancy between Normative and Factual Conclusions". Oikos. 75 (2): 327–329. doi:10.2307/3546259. JSTOR 3546259.
- Grace & Cohen 2004.
- Thilmany, Jean (2007). "Supporting Ethical Employees". HR Magazine. Society for Human Resource Management. Retrieved 2016-04-04.
- Jones, Tegan (2007-05-14). "Talent Management". The Business Value of Virtue: Corporate Social Responsibility and Employee Engagement. Retrieved 2013-11-19.
- Matthews, Richard (2012-01-26). "The Green Market Oracle". Top Business Sustainability Trends for 2012. Retrieved 2013-11-19.[permanent dead link]
- "Great Forest". Services. 2013. Archived from the original on 2013-10-01. Retrieved 2013-11-19.
- "Environmental Leader". Top Sustainability Consultants Revealed. 2013-01-14. Archived from the original on 2013-10-06. Retrieved 2013-11-19.
- "Camden Community Empowerment Network". Camden Community Empowerment Network Jargon Buster. Retrieved 2013-11-19.
- "Workforce Management". Starbucks is Pleasing Employees and Pouring Profits. October 2003. pp. 58–59. Retrieved 2013-11-19.
- Demuijnck, Geert; Fasterling, Björn (2016-01-15). "The Social License to Operate". Journal of Business Ethics. 136 (4): 675–685. doi:10.1007/s10551-015-2976-7. ISSN 0167-4544.
- Gehman, Joel; Lefsrud, Lianne M.; Fast, Stewart (2017-06-01). "Social license to operate: Legitimacy by another name?". Canadian Public Administration. 60 (2). doi:10.1111/capa.12218/epdf. ISSN 1754-7121.
- "Social License to Operate: How to Get It, and How to Keep It" (PDF). Retrieved 19 January 2018.
- "Enduring Value Framework". Minerals Council of Australia. 2017-04-10. Retrieved 2018-09-13.
- Elliott, Jaques, (2002). Social power and the CEO : leadership and trust in a sustainable free enterprise system. Quorum Books. ISBN 1567205518. OCLC 478621081.
- Orlitzky, Marc; Frank L. Schmidt; Sara L. Rynes (2003). "Corporate Social and Financial Performance: A Meta-analysis" (PDF). Organization Studies. London: SAGE Publications. 24 (3): 403–441. doi:10.1177/0170840603024003910. Archived from the original (PDF) on September 29, 2007. Retrieved 2008-03-07.
- Bhattacharya, Sen & Korschun 2011.
- Kanj, Gopal K.; Chopra, Parvesh K. (2010). Corporate Social Responsibility in a Global Economy. Routledge.
- "Idea: Triple bottom line". The Economist. 2009-11-17. Retrieved 2016-01-07.
- "Moral Responsibility".
- De George 2011, p. 205.
- Bhattacharya, C.B.; Sen, Sankar; Korschun, Daniel (2008). "Using Corporate Social Responsibility to Win the War for Talent". 49 (2). MIT Sloan Management Review: 37–44.
- "The Good Company". The Economist. 2005-01-20. Retrieved 2008-03-07.
- Korschun, D.; Bhattacharya, C. B.; Swain, S. D. (2014). "Corporate Social Responsibility, Customer Orientation, and the Job Performance of Frontline Employees". Journal of Marketing. 78 (3): 20–37. doi:10.1509/jm.11.0245.
- Jeremy Galbreath (2010-06-29). "How does corporate social responsibility benefit firms? Evidence from Australia". European Business Review. 22 (4): 411-431. doi:10.1108/09555341011056186. ISSN 0955-534X.
- Valentine, S.; Godkin, L.; Fleischman, G. M.; Kidwell, R. (2011). "Corporate ethical values, group creativity, job satisfaction and turnover intention: The impact of work context on work response". Journal of Business Ethics. 98 (3): 353–372. doi:10.1007/s10551-010-0554-6.
- Gross, Rob. "Corporate Social Responsibility and Employee Engagement: Making the Connection" (PDF). www.mandrake.ca. Retrieved 19 January 2018.
- Eisingerich, A.B.; Ghardwaj, G. (2011). "Corporate Social Responsibility: Does Social Responsibility Help Protect a Company's Reputation?". MIT Sloan Management Review. 52 (March): 18–18.
- Kytle, Beth; Singh, Paramveer (2005). "Corporate Social Responsibility as Risk Management: A Model for Multinationals" (PDF). Social Responsibility Initiative Working Paper No. 10. Cambridge, MA: John F. Kennedy School of Government, Harvard University. Retrieved 2008-03-07.
- Paluszek, John (April 6–7, 2005). "Ethics and Brand Value: Strategic Differentiation" (PowerPoint). Business and Organizational Ethics Partnership Meeting. Markkula Center for Applied Ethics, Santa Clara University. Retrieved 2008-03-07.
- Dr. Tantillo's 30-Second 'How To': How To Brand CSR The American Apparel Way" Archived April 29, 2013, at the Wayback Machine Marketing Doctor Blog. March 28, 2008.
- Fry, Keim & Meiners 1982, p. 105.
- Kemper, J.; Shilke, O.; Reimann, M.; Wang, X.; Brettel, M. (2013). "Competition-motivated corporate social responsibility". Journal of Business Research. 66 (10): 1954. doi:10.1016/j.jbusres.2013.02.018.
- Griffin, J., & Vivari, B. (2009). Chapter 11: United States of America: Internal Commitments and External Pressures. In Global Practices of Corporate Social Responsibility (pp. 235-250). New York: Springer.
- Rangan, Kasturi; Chase, Lisa; Karim, Sohel. "The Truth About CSR". www.hbr.org. Harvard Business Review.
- Friedman, Milton (1970-09-13). "The Social Responsibility of Business is to Increase its Profits". The New York Times Magazine. Retrieved 2008-03-07.
- 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.
- Ganguly, S (1999). "The Investor-State Dispute Mechanism (ISDM) and a Sovereign's power to protect public health". Columbia Journal of Transnational Law. 38: 113.
- Armstrong, J. Scott; Green, Kesten C. (2013). "Effects of corporate social responsibility and irresponsibility policies" (PDF). Journal of Business Research.
- McKibben, Bill (November–December 2006). "Hope vs. Hype". Mother Jones. Retrieved 2008-03-07.
- Cheng, Ing-Haw; Hong, Harrison; Shue, Kelly (2013). "Do Managers Do Good with Other People's Money?". NBER Working Paper No. 19432. doi:10.3386/w19432.
- Adhikari, Binay K. (2016-12-01). "Causal effect of analyst following on corporate social responsibility". Journal of Corporate Finance. 41: 201–216. doi:10.1016/j.jcorpfin.2016.08.010.
- "Corporate Social Responsibility in Retrospect and Prospect - Research@CBS". research.cbs.dk. Retrieved 2017-04-29.
- Elliott, Larry; editor, economics; Pilkington, and Ed (2015-01-19). "New Oxfam report says half of global wealth held by the 1%". The Guardian. ISSN 0261-3077. Retrieved 2017-04-29.
- Bakan, Joel (2012-03-01). The Corporation: The Pathological Pursuit of Profit and Power. Little, Brown Book Group. ISBN 9781780337418.
- Haynes, Michael (2007). "Rationality, morality and Joel Bakan's The Corporation".
- "The halo effect". The Economist. 2015-06-25. Retrieved 2017-04-29.
- Aguinis, Herman; Glavas, Ante (2012-07-01). "What We Know and Don't Know About Corporate Social Responsibility: A Review and Research Agenda". Journal of Management. 38 (4): 932–968. doi:10.1177/0149206311436079. ISSN 0149-2063.
- Chin, M.K.; Treviño, Linda; Hambrick, Donald (2013). "Political Ideologies of CEOs: The Influence of Executives' Values on Corporate Social Responsibility" (PDF). SAGE Journals. Johnson Cornell University. 58 (2).
- Jahdi, Khosro S.; Acikdilli, Gaye (August 2009). "Marketing Communications and Corporate Social Responsibility (CSR): Marriage of Convenience or Shotgun Wedding?". Journal of Business Ethics. 88 (1): 103–113. doi:10.1007/s10551-009-0113-1. ISSN 0167-4544. Retrieved 2017-12-02.
- "Corporate Responsibility - U.S. Perspective" (PDF). McDonald's USA. Archived from the original (PDF) on 2009-12-30. Retrieved 2017-12-02.
- Judgment p264
- Harford, Tim (2017-03-09). "The problem with facts". Financial Times. Retrieved 2017-12-02.
- Jones, Sandra C.; Wyatt, Austin; Daube, Mike (2016-12-01). "Smokescreens and Beer Goggles: How Alcohol Industry CSM Protects the Industry". Social Marketing Quarterly. 22 (4): 264–279. doi:10.1177/1524500415621558. ISSN 1524-5004. Retrieved 2017-12-02.
- Halpern & Snider 2012, pp. 604–624.
- Ittyipe, Minu (25 November 2015). "A Corp's New Clothes". India: Outlook. Retrieved 19 January 2018.
- Branco, M.C.; Rodrigues, L.L. (2007). "Positioning stakeholder theory within the debate on corporate social responsibility" (PDF). Electronic Journal of Business Ethics and Organization Studies. 12: 5–15. Retrieved 13 March 2011.
- 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.
- *Giesler, Markus; Veresiu, Ela (2014). "Creating the Responsible Consumer: Moralistic Governance Regimes and Consumer Subjectivity". Journal of Consumer Research. 41 (October): 849–867. doi:10.1086/677842.
- Eisingerich, A.B.; Rubera, G.; Seifert, M.; Bhardwaj, G. (2011). "Doing Good and Doing Better Despite Negative Information? The Role of Corporate Social Responsibility in Consumer Resistance to Negative Information". Journal of Service Research. 14 (February): 60–75. doi:10.1177/1094670510389164.
- 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.
- Albareda, Laura; Lozano, Josep M.; Ysa, Tamyko (2007). "Public Policies on Corporate Social Responsibility: The Role of Governments in Europe". Journal of Business Ethics. 74 (4): 391–407. doi:10.1007/s10551-007-9514-1. JSTOR 25075478.
- "Corporate Social Responsibility National Public Policies in the European Union - Compendium 2014 - Digital Single Market - European Commission". Digital Single Market. Retrieved 2016-04-04.
- Sacconi 2004.
- Government, Canada. "Corporate Social Responsibility Building the Canadian Advantage: A Corporate Social Responsibility (CSR) Strategy for the Canadian International Extractive Sector". Government Policy. Foreign Affairs and International Trade Canada. Retrieved 11 February 2013.
- Stehr, Christopher; Jakob, Benjamin E. (September 2014). "Corporate Social Responsibility th rough Voluntary Commitment in Small and Medium Sized Enterprises – the Case of the 'Heilbronn Declaration'". European Journal of Sustainable Development. 3 (4): 135–150. doi:10.14207/ejsd.2014.v3n4p135.
- Armstrong, J. Scott; Green, Kesten C. (1 December 2012). "Effects of corporate social responsibility and irresponsibility policies" (PDF). Journal of Business Research. Retrieved 28 October 2014.
- Banerjee, S. B. (2008). "Corporate Social Responsibility: The Good, the Bad and the Ugly". Critical Sociology. 34 (1): 51–75. doi:10.1177/0896920507084623.
- Danish Centre for CSR's official website Archived July 3, 2009, at the Wayback Machine
- "Home - CSRgov".
- Yoganand Ramtohul. "Corporate Social Responsibility in Mauritius".
- "Implications of Companies Act, 2013 Corporate Social Responsibility" (PDF). Grant Thornton India LLP. Retrieved 7 March 2014.
- "The Flag Off of CSR Rules: India Inc.'s To-Do List for Compliance to Section-135". Forbes. 4 March 2014. Retrieved 7 March 2014.
- Muller, Alan; Gail Whiteman (February 2009). "Exploring the Geography of Corporate Philanthropic Disaster Response: A Study of Fortune Global 500 Firms". Journal of Business Ethics. 84 (4): 589–603. doi:10.1007/s10551-008-9710-7. Retrieved 11 February 2013.
- Mohammed Jamjoom and Laura Smith-Spark, CNN (26 October 2013). "Saudi Arabia women defy authorities over female driving ban". CNN.
- Oppewal 2006.
- "Ethical trading Initiative".
- "Tesco CSR report". Retrieved 24 February 2014.
- "Sainsbury CSR Report". Retrieved 24 February 2014.
- Jones, P.; Wynn, M., Comfort, D. and Hillier, D. (2007). "Corporate Social Responsibility and UK Retailers". Issues in Social & Environmental Accounting. 1 (2).CS1 maint: Multiple names: authors list (link)
- Whooley, Niamh (2003). "The corporate responsibility report". 1: 12.
- "Retail-week: Top 10 UK retailers revealed".
- Anselmsson, Johan; Ulf Johansson (2007). "Corporate social responsibility and the positioning of grocery brands: an exploratory study of retailer and manufacturer brands at point of purchase". International Journal of Retail & Distribution Management (10): 849.
- Martinuzzi, André; Robert Kudlak; Claus Faber; Adele Wiman (2011). "CSR Activities and Impacts of the Retail Sector". RIMAS Working Papers. No.4: 2.
- Jones, Peter; Daphne Comfort; David Hillier (2005). "Corporate social responsibility and the UK's top ten retailers". International Journal of Retail & Distribution Management. 33 (12): 882–892. doi:10.1108/09590550510634611.
- "Home | Reputation Institute". www.reputationinstitute.com. Retrieved 2018-09-15.
- "What is corporate governance?". Retrieved 2018-09-15.
- "Global RepTrak 100 Research | Reputation Institute". www.reputationinstitute.com. Retrieved 2018-09-15.
- Strauss, Karsten. "The 10 Companies With The Best CSR Reputations In 2017". Forbes. Retrieved 2018-09-15.
- "Study of hip hop lyrics shows that 'pro-social' messages are popular with fans". Retrieved 2018-09-15.
- EPA,OA,OP, US. "Sustainable Manufacturing | US EPA". US EPA. Retrieved 2018-09-15.CS1 maint: Multiple names: authors list (link)
- "Perspective | Ethical business practices start at the top". Washington Post. Retrieved 2018-09-15.
- "Global Responsibility & Sustainability | Nielsen 2016 Annual Report". Nielsen 2016 Annual Report. Retrieved 2018-09-15.
- Journal, The CSR (2018-09-14). "Millennials Driving Brands Towards Social Responsibility - The CSR Journal". The CSR Journal. Retrieved 2018-09-15.
- Faw, Larissa. "Millennials Expect More Than Good Products, Services To Win Their Loyalty". Forbes. Retrieved 2018-09-15.
- "NAACP | Home". NAACP. Retrieved 2018-09-15.
- "NAACP CEO: How America's corporations can help achieve racial justice". Retrieved 2018-09-15.
- United Nations Guiding Principles on Business and Human Rights, Office of the United Nations High Commissioner for Human Rights (page visited on 29 October 2016).
- OECD Guidelines for Multinational Enterprises, Organisation for Economic Co-operation and Development (page visited on 29 October 2016).
- 10 key things to know about CSR. Brand Strategy. London. 2007. p. 47.
- Carroll, Archie B. (2000). "The Four Faces of Corporate Citizenship". In Richardson, J. E. Business Ethics 00/01. Dushkin/McGraw-Hill. pp. 187–191. ISBN 9780072365238. OCLC 65519999.
- De George, Richard T. (2011). Business Ethics. Dorling Kindersley, licensees of Pearson Education in South Asia. ISBN 978-81-317-6335-3.
- Diamond, Jared (2011). "Big businesses and the environment: different conditions, different outcomes". Collapse: how societies choose to fail or survive (Second reprinted ed.). Penguin. pp. 441–485. ISBN 9780241958681.
- Feltus, C.; Petit, M.; Dubois, E. (2009). Strengthening employee's responsibility to enhance governance of IT: COBIT RACI chart case study. Proceedings of the first ACM workshop on Information security governance (WISG'09). Chicago, Il. ISBN 978-1-60558-787-5.
- Grace, Damian; Cohen, Stephen (1 October 2004). Business Ethics: Problems and Cases. Oxford University Press. ISBN 978-0-19-551727-9.
- Habisch, A; Jonker, J.; Wagner, M; Schmidpeter, R. (2005). Corporate Social Responsibility Across Europe. Springer. ISBN 3-540-23251-6.
- Kerr, M.; Janda, R.; Pitts, C. (2009). Pitts, C., ed. Corporate Social Responsibility: A Legal Analysis. Toronto: LexisNexis. ISBN 978-0-433-45115-0.
- Rae, Scott B.; Wong, Kenman L. (1996). Beyond Integrity: A Judeo-Christian Approach. Grand Rapids, Mich.: Zondervan. ISBN 9780310201731. OCLC 34046805.
- Spence, L.; Habisch, A.; Schmidpeter, R. (2004). Responsibility and Social Capital. The World of Small and Medium Sized Enterprises. Palgrave. ISBN 0-333-71459-8.
- Sun, William (2010). How to Govern Corporations So They Serve the Public Good: A Theory of Corporate Governance Emergence. New York: Edwin Mellen. ISBN 978-0-7734-3863-7.
- Visser, W.; Matten, D.; Pohl, M.; Tolhurst, Nick (2008). The A to Z of Corporate Social Responsibility. Wiley. ISBN 978-0-470-72395-1.
Journals and magazinesEdit
- Baker, M. "Companies in Crisis- What to do when it all goes wrong". Mallenbaker.net. Archived from the original on 2009-03-29.
- Bansal, P.; Roth, R. (2000). "Why Companies Go Green: A model of Ecological Responsiveness". The Academy of Management Journal. 43 (4): 717–736. doi:10.2307/1556363. ISSN 0001-4273. JSTOR 1556363.
- Bulkeley, Harriet (December 2001). "Governing climate change: the politics of risk society?". Transactions of the Institute of British Geographers. 26 (4): 430–447. doi:10.1111/1475-5661.00033.
- Fields, S. (2002). "Sustainable Business Makes Dollars and Cents". Environmental Health Perspectives. 110 (3): A142–5. doi:10.1289/ehp.110-a142. JSTOR 3455129. PMC 1240776. PMID 11882490.
- Fry, L. W.; Keim, G. D.; Meiners, R. E. (1982). "Corporate Contributions: Altruistic or for Profit?". The Academy of Management Journal. 25 (1): 94–106. doi:10.2307/256026. ISSN 0001-4273. JSTOR 256026.
- "How the Court Works". International Court of Justice.
- Roux, M. (2007). "Climate conducive to corporate action: 1 All-round Country Edition". The Australian: 14.
- Sacconi, L. (2004). "A Social Contract Account for CSR as Extended Model of Corporate Governance (Part II): Compliance, Reputation and Reciprocity" (11). Journal of Business Ethics: 77–96. SSRN 731603.
- Thilmany, J. (September 2007). "Supporting Ethical Employees". 52 (2). HR Magazine: 105–110.[dead link]
- Tullberg, S.; Tullberg, J. (1996). "On Human Altruism: The Discrepancy between Normative and Factual Conclusions". Oikos. 75 (2): 327–329. doi:10.2307/3546259. ISSN 0030-1299. JSTOR 3546259.
- Wei, K. C. John (July 2011). "Corporate Social Responsibility – A Comparison Between Vietnam and China". 1 (1). International Journal of Governance.
- Smith, N. C.; Lopez, S; Read, D. (2010). "Consumer perceptions of corporate social responsibility: The CSR halo effect". 16. Faculty and Research Paper.
- Carroll, Archie B. (1979). "A Three Dimensional Model of Corporate Performance". Academy of Management Review. 4 (4): 497–505. doi:10.5465/amr.1979.4498296.
- Lantos, Geoffrey P. (2001). "The Boundaries of Strategic Corporate Social Responsibility". Journal of Consumer Marketing. MCB UP. 18 (7): 595–632. doi:10.1108/07363760110410281. ISSN 0736-3761.
- Lantos, Geoffrey P.; Cooke, Simon (1 May 2003). "Corporate Socialism Unethically Masquerades as "CSR": The Difference between Being Ethical, Altruistic, and Strategic in Business". Strategic Direction. 19 (6): 31–35. doi:10.1108/02580540310472135. ISSN 0258-0543.
- Oppewal, H.; Alexander, A.; Sulliwan, P. (2006). "Consumer Perceptions of Corporate Social Responsibility in town shopping centres and their influence on shopping evaluations". Journal of retailing and consumer services. 13 (4): 263–270. doi:10.1016/j.jretconser.2005.08.015.
- Catalyst Consortium (2002). "What is Corporate Social Responsibility?" (PDF). Archived from the original (PDF) on 2007-10-12.
- Fialka., J.; Some Companies Move From Opposition to Offering Proposals on Limiting Emissions". (2006). "Politics & Economics: Big Businesses Have New Take on Warming". Wall Street Journal. p. 4.
- Sullivan, N.; Schiafo, R. (June 12, 2005). "Talking Green, Acting Dirty (Op-Ed)". New York Times.
- Epstein-Reeves, James (2010). "Consumers Overwhelmingly Want CSR". Retrieved 28 April 2014.
- Kardashian, Kirk (2013). "When Retailers Do Good, Are Consumers More Loyal?". Retrieved 28 April 2014.
- "Corporate Socialism Unethically Masquerades as "Corporate Social Responsibility"". Ethics-Based Marketing. Archived from the original on 2014-11-23.
- Somerville, Michael (September 13, 2013). "Nearly half of Britons would buy more from a store that supports charity". Retrieved 28 April 2014.