Corp Gov

Introduction:
Paul Hohnen (2007) study found
One of humankind’s greatest challenges this century will be to ensure sustainable, just and balanced development. The needs of current and future generations cannot be met unless there is respect for natural systems and international standards protecting core social and environmental values. In this context, it is increasingly recognized that the role of the business sector is critical. As a part of society, it is in business’ interest to contribute to addressing common problems. Strategically speaking, business can only flourish when the communities and ecosystems in which they operate are healthy. This broad strategic context helps explain the growing appetite among businesses worldwide for authoritative information, company examples and advice about corporate social responsibility (CSR). It must be recognized up front that corporate social responsibility (CSR) still creates a degree of confusion and controversy. Is the promotion and implementation of socially and environmentally preferable corporate conduct a function of business or government? Is the implementation of corporate social responsibility (CSR) practices a cost or a value-enhancer? Is it just public relations? In part, the problem stems from definitional issues, and a perception in some quarters that corporate social responsibility (CSR) is more about philanthropy, rather than “doing business” and responding to shareholder interests. The central thesis of this paper is that corporate social responsibility (CSR) is an integral part of the new business model. Corporate social responsibility (CSR) should be seen as the way that firms—working with those most affected by their decisions (often called “stakeholders”)—can develop innovative and economically viable products, processes and services within core business processes, resulting in improved environmental protection and social conditions. Businesses are an integral part of the communities in which they... [continues]

Read full essay