Corporate Social Responsibility: Challenges, Opportunities and Strategies for 21st Century Leaders (CSR, Sustainability, Ethics & Governance)

In today's global business environment it is no longer acceptable that a corporation does well simply by doing good. It is expected. With increasing pressures from stakeholders to improve the bottom line as well as to be good corporate citizens, business leaders face tough decisions. What social issues should we support? What initiatives should we develop that will do the most good for the company as well as the cause? Do we include social messages in our advertising, encourage our employees to volunteer, do we modify our business practices? How do we integrate a new initiative into current strategies? These and other challenges will continue to face future leaders. This book provides thoughtful answers to these important questions, and to many more. The book offers suggestions on how to choose among major worthy causes and also how to measure the amount of good achieved both for the recipients and the companies themselves. Of course, all is not only about challenges, there are loads of opportunities that go along with them but it s only responsible and sustainable leaders who would be able to spot these opportunities. That is the future which awaits 21st century leaders. " Foreword......Page 8 Preface......Page 10 Acknowledgements......Page 12 About the Editors......Page 14 Challenges, Opportunities, and Strategies of CSR: An introduction......Page 16 References......Page 23 Contents......Page 24 List of Contributors......Page 26 Part I: Conceptual Framework of CSR......Page 33 1.1 Introduction......Page 34 1.2 What Is Corporate Social Responsibility?......Page 35 1.2.1 Economic Responsibility of Business......Page 36 1.2.2 Legal Responsibility......Page 37 1.2.4 Philanthropic Responsibility......Page 38 1.3.1 Company Reputation and Legitimacy Arguments......Page 39 1.3.2 Competitive Advantage Argument......Page 40 1.3.3 Equal Employment Opportunity and Cost Reduction Arguments......Page 42 1.3.4 The Win-Win Argument......Page 43 References......Page 44 2.1 Introduction......Page 47 2.2 The Relationship Between Ethics and CSR......Page 48 2.3.1 Utilitarianism......Page 51 2.3.2 Utilitarianism and CSR......Page 52 2.3.3 Ethics of Rights......Page 54 2.3.4 The Ethics of Rights and CS......Page 55 2.3.5 Contractualism......Page 56 2.4.1 Positive and Negative Rights......Page 58 2.4.2 The Question of Scope......Page 60 2.5.1 CSR and the Division of Moral Labour in ``Reasonably Just States ́ ́......Page 62 References......Page 63 3.1 Introduction......Page 64 3.2 Deconstructing Corporate Social Responsibility......Page 66 3.3 Defining CSR as a Relational Space......Page 68 3.4 The Governmentality Perspective......Page 69 3.5 Merging Governmentality and Spatiality......Page 71 3.6 CSR as a Governable Space......Page 72 References......Page 74 4.1 Introduction......Page 80 4.2 Methods and Measurement......Page 83 4.2.1 Conventional Business Organizations......Page 84 4.2.5 IT Companies......Page 85 4.3 Findings......Page 88 4.4 Conclusion......Page 92 References......Page 93 Chapter 5: Confucius ́ Teachings and Corporate Social Responsibility......Page 95 5.1 Introduction......Page 96 5.3 What Are the Teachings of Confucius?......Page 97 5.3.2 Reciprocity (, shù)......Page 98 5.4 Filial Piety (, xiào)......Page 99 5.5 Corporate Social Responsibility......Page 101 5.6 Learning, Self-cultivation and Confucian Ethics......Page 102 5.7.3 Being True to Oneself......Page 103 5.7.5 The Enron Case and the Confucian Lessons......Page 104 5.8 Trust (Xin) and Doing Business......Page 105 5.9 Built-in Strengths of Confucianism (Confucian Ethics) and CSR......Page 106 5.10 The Value of Caring Towards Others and the Environment......Page 107 5.13 The Success of Singapore as a Confucian State......Page 108 5.14 Building Singapore to Be a Green State......Page 110 References......Page 111 Part II: Global CSR Challenges and Opportunities......Page 114 6.1 Introduction......Page 115 6.2.1 RandD Intensity and Environmental Performance......Page 117 6.3 RandD Intensity, Innovation and Reduction of Environmental Concerns......Page 119 6.4.1 Sample and Data Collection......Page 120 6.4.2.1 Dependent Variable......Page 121 6.4.2.2 Explanatory Variable......Page 123 6.4.2.3 Control Variables......Page 125 6.5.1 Main Regression Estimations......Page 126 6.5.2 Robustness Tests......Page 127 6.6.1 Contribution and Implications for Research......Page 129 6.6.2 Practical Implications......Page 132 References......Page 133 7.1 Introduction......Page 137 7.2 Key Issues in CSR Development......Page 138 7.3 CSR as Managerial Idea and Academic Concept......Page 140 7.4 CSR from Companies ́ Perspective......Page 141 7.5 CSR: Cycle of Life......Page 144 7.6 Perspectives......Page 146 References......Page 147 8.1 Introduction......Page 152 8.2 Defining CSR......Page 153 8.3.2 Ethical Perspectives......Page 154 8.3.3 Legal Perspectives......Page 155 8.4.1 Methodology......Page 156 8.4.2.3 Interview Method......Page 157 8.5 Findings......Page 158 8.6 Discussion......Page 164 References......Page 165 Part III: Sustainability: Implementing CSR in MNCs/MNEs, SMEs and Family Businesses......Page 168 9.1 Introduction......Page 169 9.2 Values and Virtues in Ethical Theories......Page 172 9.3 Values, Virtues and Entrepreneurship......Page 173 9.4 Transcendental Values and Cardinal Virtues in the Entrepreneurship and Business Context......Page 176 9.4.2 Justice (Friendship)......Page 177 9.4.4 Moderations (Temperance)......Page 178 9.5.1 Methodology......Page 179 9.5.2 Case Analysis......Page 180 9.5.3 Prudence......Page 183 9.5.4 Justice......Page 185 9.5.5 Fortitude......Page 187 9.5.6 Temperance......Page 188 9.6 Concluding Reflections......Page 189 References......Page 190 Chapter 10: Corporate Social Responsibility: A New Management Paradigm?......Page 195 10.1 Introduction: The Role of Companies in Society......Page 196 10.3 From Defensive to Proactive CSR Management......Page 199 10.4 All-Encompassing Understanding of Social Responsibility......Page 200 10.5 Turning Implicit Action Into Explicit Strategy......Page 202 10.6 Conclusion: CSR as a New Management Paradigm......Page 203 References......Page 204 11.1 Introduction......Page 205 11.2 Corporate Social Responsibility......Page 206 11.3.1 CSR Implementation in EU......Page 207 11.3.1.2 The EU Commission ́s `Green Paper ́ on Promoting a European Framework for CSR 2001......Page 208 11.3.1.5 Initiatives Taken by European Parliament......Page 209 11.3.1.6 Institutional Development: Public-Private Partnership at the National Level......Page 211 11.4 CSR Implementation in the USA......Page 214 11.5 Conclusion......Page 218 References......Page 219 Chapter 12: Corporate Social Responsibility: An Indian Perspective......Page 222 12.1 Introduction......Page 223 12.2.2 Objectives of CSR......Page 224 12.2.3 Perspectives of CSR......Page 225 12.2.5 Drivers of CSR......Page 226 12.3 Literature Review......Page 229 12.4 CSR in India......Page 230 12.4.1 Stages of CSR in India......Page 231 12.4.3 Arguments Against Mandatory CSR Activities......Page 232 12.4.4 Cases of CSR in India......Page 233 12.4.5 Indicator of CSR in India......Page 235 12.5 Future of CSR in India......Page 236 References......Page 238 Part IV: CSR in Higher Education Institutions Around the World......Page 240 Chapter 13: Corporate Social Responsibility in Business Education: A Review of Current Status of American Business Schools Curriculum......Page 241 13.1 Introduction......Page 242 13.2 Review of Previous Studies......Page 243 13.3.1 Research Method......Page 245 13.4.1 Required CSR Courses......Page 246 13.4.3 Stand-Alone CSR Courses......Page 247 13.4.4 Option/Elective Courses......Page 248 13.4.5 Development of CSR Content......Page 249 13.4.7 Barriers Behind Integrating CSR Courses into MBA Curricula......Page 250 13.5 Conclusions and Implications......Page 251 References......Page 254 Chapter 14: Corporate Social Responsibility in Higher Education Institutions in the Development of Communities and Society in Nigeria......Page 256 14.1 Introduction......Page 257 14.2 Roles Expected of the Higher Education Institutions to the Society in Nigeria......Page 258 14.3 Foreign Direct Investment; Net Inflows (% of GDP) in Nigeria......Page 260 14.4 Effects of the Economic and Social Programmes So Far Introduced in Nigeria......Page 261 14.4.1 Obafemi Awolowo University (University of Ile-Ife), Ile-Ife, Osun State......Page 262 14.4.2 University of Nigeria, Nsukka, Enugu State......Page 263 14.4.4 Covenant University, Located at km. 10 Idiroko Road, Canaanland, Ota, Ogun State, Nigeria......Page 264 14.5.1 Instrumental Theories......Page 267 14.5.5 Integrative Social Contract Theory......Page 268 14.5.7 Ethical Theories......Page 269 14.5.9 Normative Ethical Theories......Page 270 14.6.2 United Bank of Africa......Page 271 14.6.3 Chevron Nigeria......Page 272 14.6.5 Total Nigeria......Page 273 14.6.5.3 Change for the Better......Page 274 14.7.1 Relevance of Curriculum to National Needs......Page 275 14.7.2 Establishment of Entrepreneurship Development Centers......Page 276 14.7.4 Category Locations......Page 279 14.7.7 Infrastructure Towards Globalization......Page 280 14.8 Conclusion and Recommendations......Page 281 References......Page 282 Chapter 15: Management and Policy Process in Adult Education: Leadership Implications to Corporate Social Responsibility in HigherInstitutions......Page 286 15.1 Introduction......Page 287 15.2.1 Understanding Adult Education......Page 288 15.2.2 Adult and Non-Formal Education Programmes......Page 290 15.3.1 The Concept of Management and Policy......Page 291 15.3.2 Need for a National Policy on Adult Education......Page 292 15.5 Corporate Social Responsibility (CSR) Challenges to Educational Leaders in Nigeria: The Implications......Page 293 15.6 Conclusion......Page 295 References......Page 296 16.1 Introduction......Page 297 16.2 Issues......Page 299 16.3.1 Ethical Theory......Page 300 16.4 Views of Ethical Behavior......Page 301 16.6 Literature......Page 302 16.6.2 Cognitive Moral Reasoning......Page 303 16.6.3 Opposing Views......Page 304 References......Page 305 Index......Page 308 This thoughtful analysis focuses on core issues in the development of corporate social responsibility, showing leaders in business and government how to maximize the benefits of social initiatives and move towards more sustainable business models