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Corporate Social Responsibility - Burden, sham, or golden opportunity?

Corporate social responsibility (CSR) is an surging trend that has taken corporate boardrooms by storm. Government regulation in some countries along with pressure from myriad interest groups around the world is driving an increase in social responsibility initiatives and reporting. In 2005, according to Professor Michael Porter of the Harvard Business School, 360 di......

Full article >>> ist.com%2Fdisplaystory.cfm%3Fstory_id%3D3555212">The Economist Survey of Corporate Social Responsibility, provocatively states that most permutations of CSR are not worth the cost. He berates corporate philanthropy as "borrowed virtue" because managers are giving away shareholder's money. He asserts that most CSR is "probably delusional" - in that its private costs likely exceed the public ben......

Full article >>> will conflict with the broader interests of society, and they will always act in their own self-interest.

As a result, no one should be fooled by CSR, and deluded into thinking that business can be trusted to do what's right for society of its own accord. They won't, unless governments force them to. In this view, government has a substantial role to play in constraining and channeling t......

Full article >>> aspirations grow. Any business that pursues its own ends at the expense of the society in which it operates will find its success to be illusory and ultimately temporary. He argues that the mutual dependence of business and society implies that both business decisions and social policies must follow the principle of shared value - that is, that the choices made must benefit both sides. If either ......

Full article >>> down in Porter's camp. His "enlightened interdependence" view of CSR recognizes that business and society have a huge amount of shared interest that managers with foresight know can be developed in a long-term and mutually beneficial way.

CSR represents a set of societal values that companies ignore at their peril. Society has a right to set expectations of businesses, but these don't ne......

Full article >>> - mail Tony DiRomualdo at tony@nextgenerationworkplace.com to share your experiences and perspectives.

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