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Corporate Social Responsibility: Challenges, Opportunities by John O. Okpara, Samuel O. Idowu

By John O. Okpara, Samuel O. Idowu

In modern day worldwide enterprise surroundings it's not appropriate company does good just by doing strong. it really is anticipated. With expanding pressures from stakeholders to enhance the base line in addition to to be solid company electorate, company leaders face difficult judgements. What social matters should still we help? What tasks should still we advance that might do the main stable for the corporate in addition to the reason? will we comprise social messages in our ads, inspire our staff to volunteer, will we regulate our enterprise practices? How can we combine a brand new initiative into present techniques? those and different demanding situations will proceed to stand destiny leaders.

This e-book offers considerate solutions to those very important questions, and to many extra. The booklet bargains feedback on tips on how to decide upon between significant invaluable factors and in addition find out how to degree the quantity of excellent accomplished either for the recipients and the corporations themselves. in fact, all isn't just approximately demanding situations, there are a great deal of possibilities that go together with them yet it’s in simple terms dependable and sustainable leaders who will be in a position to spot those possibilities. that's the destiny which awaits 21st century leaders.

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Example text

First of all, constant calculation takes a lot of time, and thus they can be counter-productive. Secondly, and more importantly, since managers, like most of us, have a tendency to care more about their own interests and downplay or even disregard the interests of others, constant calculation will most likely not lead to the maximization of the total sum of well-being.

Fredrick (1994) indicates that corporations have an obligation to society other than their shareholders and beyond what is prescribed by law or business contract. There are several definitions of CSR. However, in this chapter we will touch upon only a few definitions of CSR to illustrate its evolving nature and meaning. Here are some of the most popular ones: The World Business Council for Sustainable Development (WBCSD) defines CSR as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workers and their families as well as of the local community and society at large (WBCSD, 2012).

What do we mean by corporate social responsibility? Corporate Governance, 1 (2), 16–22. Phillips, R. , Freeman, R. , & Wicks, A. C. (2003). What stakeholder theory is not? Business Ethics Quarterly, 13, 479–502. , & Tencati, A. (2008). The impact of corporate social responsibility on consumer trust: The case of organic food. Business Ethics: A European Review, 17, 3–12. Porter, M. , & Kramer, M. R. (2002). The competitive advantage of corporate philanthropy. Harvard Business Review, 80, 56–69. RED.

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