Are businesses concerned solely with profits or sales, or do they take broader social objectives into account? Is ‘corporate social responsibility’ (CSR) a key part of their decision-making? In other words, do they care about the welfare of their employees, about being honest with shareholders and customers, about being energy efficient and non-polluting and about caring for local communities? In general, do they make a genuine attempt to be ethical? One view is that they should do this because, in the end, it’s profitable to do so. Another view is that they should be socially responsible because they have a duty to be so.
In the current economic climate, CSR is being tested. Is CSR something that should be inextricably part of everything a firm does? Or is it a luxury that can be dispensed with when times get tough? The first article below looks at this issue and comes to a fairly optimistic conclusion. The other articles look at approaches to CSR in various countries.
A stress test for good intentions The Economist (14/5/09)
The Future of CSR: 2009 report CSR Asia (05/09) (This may take a little while to load: try right clicking and saving it before opening)
CSR efforts score well in trusted brand poll BusinessMirror (Philippines) (29/5/09)
Minister Presents Corporate Responsibility Index Awards Australia.TO (28/5/09)
CSRwire Welcomes New Members to its Global Network of CSR News and Information CRSwire (27/5/09)
Straight Talk about Corporate Social Responsibility The Huffington Post (13/5/09)
Social Responsibility WA Today
See also the UK government’s CSR site Corporate Social Responsibility
and Business in the Community’s Corporate Responsibility Index
- Explain how self-interest can go some way to making companies more socially responsible.
- Why may the free market fail to provide the optimum level of CSR?
- To what extent does the current recession threaten CSR? Are there any ways in which it could encourage companies to be more socially responsible?