Corporate Social Responsibility: The Role of Business in Sustainable Development (Global Institutions)

Over the last 30 years, corporate social responsibility (CSR) has become a household term, reflecting a combination of factors that we have come to associate with that most catch-all of terms "globalization," including the widespread popular concern with such social issues as the environment and international human rights. Corporate Social Responsibility examines the history of the idea of business ethics (which goes back at least to ancient Mesopotamia) before exploring the state of CSR today. This book argues that a wide-ranging understanding of the purpose of business is necessary to create value for a community of stakeholders which in turn can generate a sustainable future. The book suggests that corporations still have a long way to go, but remains optimistic. The book’s sanguine interpretation of the current state of corporate affairs and a recommended way forward, results not only from the authors analysis, but also his direct experience. This book presents the case that we are in the midst of a major paradigm shift in our understanding of the purpose of business and that this new understanding holds much promise for business being a significant force for a more just and peaceful world. This work provides a concise overview of CSR and an important examination of the present and future work of the UN Global Compact and will be of interest to students of international organizations, international business and corporate social responsibility. Cover 1 Corporate Social Responsibility 2 Title Page 4 Copyright Page 5 Table of Contents 6 Foreword by the series editors 7 Foreword 10 Acknowledgments 13 List of abbreviations 15 Introduction 18 1 Corporate social responsibility: its history and development 22 2 The purpose of business: the basic issue 47 3 Stretching the limits of CSR: breaking the bounds of the market logic 68 4 Corporate social responsibility as an instrument of global governance: the UN Global Compact 89 5 Conclusion: moving from incremental progress toward transformational action in shaping an inclusive and sustainable economy 110 Select bibliography 124 Index 126 Routledge Global Institutions Series 134 What is the role of business in society? This book presents the case that we are in the midst of a major paradigm shift in our understanding of the purpose of business and that this new understanding holds much promise for business. What we are seeing according to its proponents is the emergence of a view of the firm as a socially responsible political actor in the global economy and as an institution that can generate not only material wealth but also wealth that nourishes the full range of human needs, what some call spiritual capital. Needless to say, this view is not without its critics and this book seeks to provide a balanced overview Foreword / by the series editors Foreword / by Georg Kell Acknowledgments List of abbreviations Introduction Corporate social responsibility : its history and development The purpose of business : the basic issue Stretching the limits of CSR : breaking the bounds of the market logic Corporate social responsibility as an instrument of global governance : the UN Global compact Conclusion: moving from incremental progress toward transformational action in shaping an inclusive and sustainable economy Notes Select bibliography Index.