When we started the CRS discussion in class, one of my professors said that my concepts made it sounds like an enormous thing. I cannot deny how fascinating the subject is in my view. How can you describe CSR in a world that companies’ profits are higher than countries GDP and companies’ culture can overcome countries way of life, but the power of corporations is underestimated. What is the mission of CSR? Can business make the world a better place? Furthermore, is business willing to make the world a better place?
Before diving in CSR, here are two key concepts to develop the discussion:
[ Philanthropy definition: generous help or benevolence toward one’s fellow men (Webster ’s dictionary). Corporate philanthropy use to be likely a mere choosing of charity or organization followed by donations. Philanthropy is related to strong moral or ethical values therefore backed by belief systems.
[ Corporate social responsibility encompasses not only what companies do with their profits, but also how they make them. It goes beyond philanthropy and compliance and addresses how companies manage their economic, social, and environmental impacts, as well as their relationships in all key spheres of influence: the workplace, the marketplace, the supply chain, the community, and the public policy realm. (Harvard Kennedy School
CSR goes way beyond what Corporate Philanthropy used to be. We can use the metaphor of license to operate. Scrutiny, visibility and trust make this license essential.
Now that the concepts of CSR are covered – and I agree it is not so enormous – we will discuss sustainable business on next posting.
Here it is an interesting link on CSR and also the source of my definition above:
