Developments, Challenges and Understanding of Corporate Social Responsibility, by Business - Essay Example

Critically Appraise the Developments, Challenges and Understanding of Corporate Social Responsibility (CSR), by Business and Academics in today’s Business Environment Table of Contents 1.0Introduction 3 2.0Historical Development 4 2.1 Impact of Industrial Revolution (After 19th Century) 4 2.2 Impact of Second World War (After 1945) 5 2.3 Analysis of Current Situation 5 3.0Interpretation and Disclosure 6 3.1 Linking the Three Major Aspects 6 3.2 Critical Driving Lines 7 4.0 Theories of Corporate Social Responsibility 9 4.1 Instrumental Theories 9 4.2 Political Theories 11 4.3 Integrative Theories 12 4.4 Ethical Theories 13 5.0 New Model Creation 16 6.0 Challenges and Issues in Social and Environmental Accountability and Reporting 19 6.1 Codes and Conducts of CSR 19 6 .2 Social and Environment Accountability 21 6.3 Reporting Mechanism 21 6.4 Standards 22 6.5 Challenges and Issues 23 7.0 Evidence of Corporate Governance and Ethics Embedment 25 8.0 CSR in Action 27 8.1 Company Profile 27 8.2 ALJ Initiative and its Role in CSR 27 8.3 Approach and Strategies of ALJ 28 8.4 Current Issues of ALJ 29 9.0 Conclusion 30 References 31 Bibliography 34 1.0 Introduction Corporate Social Responsibility (CSR) can be considered as the mechanism of integrating of environmental, social and economic considerations into the structure and process of decision-making. Sustainability of an organisation basically requires responding positively towards environmental and societal challenges. Even they need to collaborate and engage with the stakeholders and shareholders to deal with potential risks and to build trust and creditability in society in a more effective manner (NCB, 2009). Depending on the present scenario it can be argued that corporations are no longer able to make profit. They only need to strive to fulfil the several societal requirements. For this, they not only need to be socially responsible but also have to undertake ethical implication of their decisions. Considering all the emerging societal issues and requirement of the society from the corporation, it has been intended to demonstrate the aspects of corporate social responsibility in this paper. It will start with the historical development of the concept and then will exhibit the various theories related to CSR. The basic objective behind presenting this paper is to address the issues and challenges of CSR and to devise a new strategy considering the existing theories and further demands of the society from business entities. To validate the entire discussion, instances from an existing business will be undertaken. 2.0 Historical Development Historical development denotes not only the basic history of the corporate social responsibility but also will demonstrate the historical progression of the topic. 2.1 Impact of Industrial Revolution (After 19th Century) There was a transformation and drastic change from the hand-made items to the machine made products after the industrial revolution. It brought changes in the general life in both positive and negative manner. Impact of this revolution has been noticed in every field, such as art, music, architecture, literature and even in the man’s way of looking. Simultaneously, there was a rise not only in the working conditions and of declined pollution level but also in the number of working children and women. In other way it can be stated that the revolutions resulted in both dire consequences and productive. Therefore, requirement of society has also developed and with the passage of time outlook of the business entities has also changed. Not only the government sector but also the private sector has encompassed strategies based on corporate social responsibility (ICFAI, 2003). 2.2 Impact of Second World War (After 1945) Again at the end of the Second World War, re-examination of the relationship between the community, state and the industry became necessary. The ‘US Marshall Aid Program’, Mac Arthur’s ‘Reconstruction Program’ in Japan and ‘Socialist Economic Planning’ in Britain were based on certain specific assumptions. It refers to the relationship between the state and industry. These programs left their footprints on their respective role and position within the community. It even had an impact on the role of corporate responsibility. According to many scholars these programs must have an effect in unemployment, social justice and in waging wars against the poverty (ICFAI, 2003). 2.3 Analysis of Current Situation Corporate social responsibility depicts one of the most progressive developments especially in the private sector. Recently private companies have reframed their boundaries of responsibility and developed a new ‘social contract’. Recently companies are gaining higher economic profit through continuous contribution towards environmental, social and governance objectives (Europe & CIS, 2008). 3.0 Interpretation and Disclosure 3.1 Linking the Three Major Aspects The connection between the corporate social responsibility, good governance and corporate accountability denotes the three related themes in contemporary discussion regarding global ethical prospect. At first, the companies need to redefine their roles through which they will be able to deliver societal aspirations and sustainable development. It can be expressed in a form of the ‘Universal Declaration’ and the ‘Millennium Declaration’ of the human rights. Secondly, for redeveloping the relationship between the nation and its citizen both international security agenda and economic globalisation need to be taken care of. It will further lead to develop an effective governance structures. The third approach is to define the relationship between the market and the state in an era of human insecurity and globalisation (IIED, n.d.). On the basis of the above mentioned aspects, it can be stated that CSR could have gained a better exposure where institutions and public governance are strong along with a well developed civil society. In contrast it can be argued that a nation with weak public governance can create an uneasy dilemma to the business, for the demand of the corporate social responsibility from stakeholders’ side. It is true that business acting alone cannot satisfy the demand of the society, but business experience working with others can build up a well functioning society. There are ample of instances of businesses addressing issues of good governance. But for a responsible business, social responsibility is beyond the traditional ‘enabling environment’ (IIED, n.d.). 3.2 Critical Driving Lines The most emerging issue is to address CSR, corporate accountability and responsibility in a global perspective. It emphasises the requirement of transcending and acknowledging certain major dividing lines. Regulatory versus Voluntary Tension: There might be a gap between the voluntary commitments that an organisation has made towards the society based on different market drivers and their own degree of responsibility and the governmental regulation, which refers the legally binding norms. It has also been found that this dividing sketches a line between the ‘corporate accountability’ which is mandatory and ‘corporate social responsibility’ which is voluntary. It is expected that organisation will consider both simultaneously (IIED, n.d.). Best Practice versus Bad Practice Tension: There can be two kinds of groups: one which encourage and concentrate on the best practice and the innovation where as the other value more to learning objectives from the ‘worst practice’ to eliminate the most exploitative forms (IIED, n.d.). Process of implementing CSR: There are various processes to implement the CSR strategies to put into effect. It takes into account issues over adopting widely-accepted standards and monitoring compliance of the standards. Differences lie at the time of selecting the appropriate process for the organisation (IIED, n.d.). Differences in the world views: CSR agenda might have created clashes between the different world views. The reason behind it is that there is no such accord on the value of differential support and protection for the informal sector or in the small enterprise in the low income countries (IIED, n.d.). Differences in views for the standards: A group argues that proliferation of guidelines and standards generate redundant business costs and according to them the solution should be harmonization. Again, to other group, continuous experimentation is actually needed with an aim to develop an understanding of the process of building up the tools and standards that are more equitable. Basically this school of thought use to be possessed by the middle and lower income countries (IIED, n.d.). 4.0 Theories of Corporate Social Responsibility For developing better understanding of the theories of Social Corporate Responsibility, an article written by Elisabet Garriga and Domence Mele will be referred. The article mentioned that they have assumed four factors on which CSR theories are focused i.e., economics, social integration, politics and ethics. Base of their assumption is rooted in the four attributes described by Parsons (1961). As said by Parsons, adaption to the environment, goal attainment, social integration and pattern maintenance are the four aspects on which CSR theories are based upon (Parsons, 1961). 4.1 Instrumental Theories According to this group of theories CSR has been considered as a strategic tool to attain the economic objective which leads to wealth creation. Concern for profit does not mean to unconsidered the interests of all those parties who have stake in the organisation. It has been argued by Mitchell & Et. Al (1997) that contentment of the interest of the stakeholders might have a contribution towards the maximization of shareholder value (Mitchell, 1997). Depending on the economic objective, three major theories of instrumental supposition have been acknowledged. The first theory is concerned about maximizing the shareholder value that will be measured by share price. Objective of the second theory is to achieve the competitive advantages that will generate long term profits. The third one is the cause related marketing (Garriga & Mele, 2004). Maximizing Shareholder Value According to this objective, any investment in social demands which can generate a growth of shareholder value should be obtained and in contrast social requirements that only impose a cost on the organisation should be discarded (Garriga & Mele, 2004). Strategies for Achieving Competitive Advantages: This theory is focused on developing a strategy which can ensure the allocation of resources in such a way that an organisation can attain the long-term social objective and thus can gain competitive advantages. This theory can adopt three approaches that are social investments in competitive perspective, natural resource based view and the dynamic capabilities of the organisation and strategies as a base of the economic pyramid (Garriga & Mele, 2004). Cause Related Marketing: This theory denotes the process of devising and implementing marketing activities that are enforced by the proffer from the organisation side. The basic intention behind it is to contribute a specific amount to a dignified cause which can satisfy the individual as well as organisational objective (Garriga & Mele, 2004). 4.2 Political Theories A group of CSR theories focuses on the connection and interactions between the society and business and also on the position and power of business and its inherent responsibility. Two major theories have been considered under the political theories that are discussed below. Corporate Constitutionalism: Davis (1960) was the first man to explore the impact of power that business has in the society. Two principles had been developed by Davis that demonstrates the manner through which social power need to be managed. The principles are ‘the social power equation’ and ‘the iron law of responsibility’. The first theory denotes that “social responsibilities of the businessman arise from the amount of social power that they have” (Davis, 1960). The second theory refers the negative consequences of non-attaining the use of power. Corporate Citizenship: According to the Wood and Logsdon (2002), instead of having academic reflection on the notion of “Corporate Citizenship” and another similar one called “Business Citizen”, the concept has always imposed a sense of belonging to the community (Wood & Logsdon, 2002). 4.3 Integrative Theories The primary objective of this theory is to identify that how business incorporates social demands based on the perception that business depends on society not only for its existence but also for growth and continuity. It is true that the way society interacts with the business and provides it prestige and legitimacy, can be considered as the social demands from businesses. As a consequence, management of the corporate need to value the social demands and should undertake it in such a manner that operation can be carried out in accordance with social values. Basically the theories focus on scanning and detection of the social demands which leads to achieve social prestige, acceptance and social legitimacy. There are few theories under integrative theory (Garriga & Mele, 2004). Issue Management: It refers to the corporate process that response to the political and social issues that might have a significant impact on the organisation (Garriga & Mele, 2004). Public Responsibility: It deals with the public policy and law that is considered as the reference for the social performance (Garriga & Mele, 2004). Corporate Social Performance: It looks for the social process and legitimacy to provide apt responses to the social issues (Garriga & Mele, 2004). Stakeholder Management: It refers to the balancing procedure of the interests of the stakeholder in an organisation (Garriga & Mele, 2004). 4.4 Ethical Theories Ethical theories concentrate on the ethical requirement of an organisation which cement the rapport between the society and the business. The approaches under this theory can be discussed as follows: Normative Stakeholder Theory: Since 1984 stakeholder management has become connected with ethical aspect, especially from when Freeman wrote ‘Strategic Management: a Stakeholder Approach.’ He stated that “Managers bear a fiduciary relationship to stakeholder” (Freeman, 1984). Universal Right: In the global marketplace human rights have been considered under CSR (Cassel, 2001). In recent years certain Human-Rights-Based approaches have been proposed for corporate responsibility. The most common approach out of that is the UN Global Compact. It includes nine principles in the field of human rights, environment and labour (Garriga & Mele, 2004). Sustainable Development: According to the World Commission on Environment and Development (1987), sustainable development seeks to satisfy the requirement of the present without compromising the ability to attain the needs of the future generation (Garriga & Mele, 2004). The common Good Approach: The assumption behind the approach is that business should neither be parasite nor harmful to the society. It must be a positive and constructive contributor to the well-being of the society. It imposes that business needs to contribute to the common good as it is also a part of society (Garriga & Mele, 2004). All the Four Major Theories and Its Sub Theories Can Be Exhibited Through Diagram At Underneath 5.0 New Model Creation This part of the paper will demonstrate the procedure of devising a new model. Theories and dividing lines of building CSR strategies have already been discussed. Both of this will be considered while creating the new model. Instrumental and political theories depict the basis requirement of an organisation and that are wealth creation and strengthening political position. Again fulfilment of social requirement and conduct of the activities in an ethical manner also have become the utmost necessity of the organisation. Keeping in mind all these factors and to reduce the gap between the dividing lines, few attributes have been generated that can be considered as the outline of the new model. Integrating CSR and Public Governance: Under this approach the dynamic relationship between the corporate social responsibility practices and roles and responsibility of public sectors have been considered. The basic aim of this theme will be to generate the blueprint of the policy recommendation in context to CSR and governance and that should have a wider relevance to business. Learning from Mistakes: Before developing the strategies, organisation need to evaluate the worst practices which will further enable them to eradicate all these practices and to strengthen their strategies. The most significant thing that needs to be considered is the policy of managing the CSR initiatives in the main company and their other branches across the state and over the world in case of multinational companies. Building more Inclusive Agenda: Corporate social responsibility should be the same for all the countries and needs to be equitable. It should not happen that the CSR statement should consist of only the best practices available among all the branches of the company. CSR strategy needs to cover wide-spread prospects. The factors that a model needs to be considered are cost-benefit ratio of the company, requirements of technical assistance that will transform CSR standards, market entry requirements and others. Before developing CSR strategy organisation need to widen these factors as per the global context. Multi Stakeholder Review: For every new initiative an organisation needs to review the proposal or plan from the valuable stakeholder. Stakeholders play an important role in the organisation’s decision making process. Even they also contribute to the profit earning process. Considering all the above mentioned points it can be proposed that at the first stage company should set a standard of corporate social responsibility that can be achieved by all the branches of the organisation. Then the management needs to build up a mechanism through which it can ensure that all the branches have followed uniform kind of activities but as per the policies of the host nation. Cost of the CSR activities need to be fixed in such a way that all the projected aspects can be covered without reducing the profit margins. Before promoting the model in a formal way the management needs to ask all major stakeholders for their approval and opinion. And it should be checked that whether all the codes and conducts and standards are maintained properly or not. This is the new framework which has been considered most of the drawbacks and will be suitable for all kind of industry. Steps of the New Model Can Be Graphically Presented 6.0 Challenges and Issues in Social and Environmental Accountability and Reporting This part of the paper will encompass the codes and conducts of the ethics and that will be demonstrated in accordance to the views of different scholars. 6.1 Codes and Conducts of CSR Basically, in large companies various kinds of codes and conducts prevail. These are compliance code, corporate credos, management philosophy. Recently the requirements of the ethical conducts have enhanced and that falls under the corporate credos. The ethical statements that the companies prepare usually have different set of objectives and require many forms. These forms are recognised by many names, such as ‘ethical guidelines’, ‘corporate credos’, ‘codes of ethics’ and others. Owing to intricacy to discern a clear format of the contents of the ethical statement, a uniform standard has not been achieved (Mullerat & Brennan, 2005). According to Visser & Et. Al. (2010), code of conduct is nothing but a set of guides and rules that orient behaviour within a particular department or an organisation in order to promote environmental, social and ethical behaviour. According to his views code can be defined as a formal statement which encapsulates the principles and values of an organisation. Codes are generally firm specific where standards such as ‘SA 8000’ can be applied broadly over a huge range of sectors. He has further argued that codes of conduct in social responsibility can be classified in context to performance oriented codes and process oriented codes. The first approach implies the minimum standard which comprises of socially responsible behaviour. These kinds of tools concentrate mainly on the corporate responsibility and the ultimate outcome to what companies are working towards. Elimination of child labour is one of the greatest instances of performance oriented codes. The process oriented codes depicts the procedures that an organisation or company should follow. This encompasses mechanism of addressing the complaints, stakeholder consultation and social reporting. Moreover, the author has also stated that corporate social responsibility also consist of a wide range of issues and challenges but he found that only few of the issues have been considered under the corporate responsibility codes and conduct. According to him the issues that are covered by codes and conducts comprise of: Human right Environment Bribery Combating Working condition Challenges (Visser & Et. Al., 2010) 6 .2 Social and Environment Accountability The aim of social accountability is to ensure that the internal stakeholders adhere to the commitment towards the corporate social responsibility, made by the organisation. To validate the consistency, transparency and integrity, most companies try to engage a third party like GRI to carry out the social accountability compliance audit. The main elements that have been considered while auditing are: forced labour, child labour, health and safety, discrimination, environment, working hours, freedom of assessment and discrimination (Visser & Et. Al., 2010). 6.3 Reporting Mechanism Basically the report on the corporate social responsibility portrays a clear picture of an organisation. This kind of reports ensures the performance level of an organisation in context of environmental, economical and social context. It also exhibits the corporate social responsibility strategy of an organisation and assesses the way of execution of the strategy. The information contained in the report should encompass all the indicators and attributes those have significant impact on environmental, social and economic effects. Even it should also consider all those factors that can influence the stakeholders, their decision making procedure and the evaluation criterion. Apart from all these, reports also provide reference data from the previous years which can facilitate in better assessment of the company’s present condition. While preparing and publishing CSR report, organisation needs to follow the guidelines of the updated ethical standards (Transparency International, 2000). 6.4 Standards AA1000: It is an assurance standard and applicable for attesting, assessing and strengthening the quality and capability of the sustainability reporting of an organisation and its underlying systems, processes and competencies. Furthermore, it bestows the guidance on key essentials of the assurance process. The principles have been developed on the basis of the mainstream environmental, financial and quality related assurance. It also integrates the emerging practice of accountability and sustainability management with the key leanings. The principles of this standard can be presented through a diagram (URS, 2006). (URS, 2006). GRI: It is a multi-stakeholder process. It is an independent institution that possesses a mission to build up and provide a series of ‘Sustainability Reporting Guidelines’. These guidelines are mainly for voluntary usage by the organisations to prepare reports on the impact of environment, economy and society on their products, services and activities. Basically there are two guidelines and those are G2 Principles (2002) and G3 Principles (2006). G3 is the drafted version. The principles of the previous version are inclusiveness, relevance, transparency, sustainability context, accuracy, completeness, comparability, timeliness, neutrality and clarity and audit ability. The areas that have been included in the new version are guidance to define the quality of data and content of report, setting report boundary. In place of neutrality, ‘balance’ has been replaced (URS, 2006). 6.5 Challenges and Issues While preparing the reports, it is necessary to include all the departments and subsidiary companies over the world especially for the Multinationals but to make the report focused it can not be possible to encompass all the subsidiary and branches of a company. Hence, most of the companies highlight the initiatives that have considered as the best practice among the group. Therefore, somehow the overall picture of CSR initiatives and executions use to be escaped. There is no such specification about the aspects that an organisation needs to add in the report that have a significant impact on the decision making criterion of the management above the voluntary requirement. In this scenario conflicts among the shareholder may arise. Another most crucial issue is the mode of code and conduct, whether it will follow the performance oriented approach or process oriented approach. The first one focuses on the present condition while the second one focuses on the future initiatives. It will not create a problem in the reporting system but will affect the internal policy making criterion. 7.0 Evidence of Corporate Governance and Ethics Embedment Previously, most of the business leaders were engaged with the CSR activity for the sake of charity. Contrary to that expectation recently there is an evident recognition in the private sector that society and business both are interdependent and business entities need to develop corporate social responsibility to justify their existence in the society. But challenges lie in the implementation and execution technique. The above discussion has explained almost all the major aspects of CSR. Even it brings into light the challenges and issue of CSR, its implementation process and its reporting process. The above discussion needs be to be justified with evidences. To impose that a nation facing lots of social challenges will be better option. Therefore Saudi Arabia has been chosen. Few other findings for Saudi Arabian companies are as follows. Firstly, unlike the developed economies, the companies of Saudi Arabia are not affected by adversarial tensions that can put organisations against society. Even the supply-chain pressures are not same for the Saudi companies like in other emerging economies such as China. These pressures often force CSR strategies to be reactive to please consumers or the media (Tamkeen Development and Management, 2007). The Saudi Arabia experience exhibits that though the major contribution is still trapped in charity mindset, yet the residents of the nation urge to address the recent and urgent challenges that the nation faces. The chief requirement of the country is to create employment opportunities to sans the unemployment issue and to address the skill gaps required for a diversified economy. These challenges can be intimately linked to the drivers for competitiveness of the Saudi Arabia companies in light of WTO entry. It facilitates the country for foreign direct investments (FDI). This context can be considered as an opportunity for Saudi companies to build up CSR strategies that will have a dual effect both in business goals and local community (Tamkeen Development and Management, 2007). From several researches it can be recommended that Saudi companies should address weakness of the current approach in their corporate responsibility. Researches also reveal that there is a lacuna in organised and systematic efforts in most of the companies to prioritise and assess the social issues where their initiative will be more effective. Even it has been found that there is a lack of recognition of the adverse effect of the business activities on the health and safety and the environment. Yet more worrying fact is that there is no such driving factor or pressure from the side of regulator, consumer group, media and researcher (Tamkeen Development and Management, 2007). 8.0 CSR in Action In this part of the paper, evidence of CSR practice in Saudi Arabia will be demonstrated and for that a company has been chosen which has been associated with CSR activities for a long period. 8.1 Company Profile Abdul Latif Jameel (ALJ) Group of companies is based on Saudi Arabia and is a chief business enterprise that has employed an innovative approach and is zealous about social responsibility. It is a multi-national diversified conglomerate and anticipated revenue of this MNC is more than US$ 3.3 billion annually. The group is renowned as the largest independent Toyota distributor in the world. It has spread their wings in many businesses such as real-estate, consumer electronics, financing, logistics sectors and others. Meanwhile its sole subsidiary, Abdul Latif Jameel Community Service Program operates as the charitable channel of ALJ. The subsidiary pursues socially responsible initiatives in a continuous manner (Zain, 2008). 8.2 ALJ Initiative and its Role in CSR Network and Communication Manager of CSR Middle East Platform of ALJ, Dr Fatih Mehmet Gul recognised the importance of the corporate social responsibility and he considered it as the crucial and vital aspect for the society in which businesses are performing. He further stated that “CSR is about how businesses align their values and behaviour with the expectations and needs of stakeholders - not just customers and investors, but also employees, suppliers, communities, regulators, special interest groups and society as a whole” (Zain, 2008). The unique characteristic about ALJ’s initiatives is that they are not associated with activities such as providing donations in the form of money or food. It is a recognised fact that investing in the education is more lucrative option than to hand over a wad of money as it will inevitably run dry. The group intended to build up the personality of an individual as he can strengthen his position in the society and eventually provide further benefit to the community they live in through social and economic compensation (Zain, 2008). 8.3 Approach and Strategies of ALJ Profit maximisations strategies of ALJ are also imitate in their CSR initiatives. They also ensure their stake to satisfy the requirement of social welfare in society. Likewise their strategies also address the related issues. ALJ not only strikes a balance between present needs but also sensitizes the future generation to be a responsible citizen. ALJ do not believe in one-time offer and therefore they have cemented their strategies in such a way that can provide long term benefit and their educational scheme is one of the greatest instances of that. Again developing entrepreneurial awareness and creating skilled labour, ALJ is able to symbolise its image as a hope for CSR. ALJ tries to maintain their credibility through periodic review of efficiency and effectiveness of each of their CSR program on the basis of the statistics and report (Zain, 2008). 8.4 Current Issues of ALJ Unemployment has become a major issue in Middle East & North African (MENA) countries and it has been projected that MENA might be facing an unemployment phenomenon of more than 80 million young Arabs within next 20 years. Entrepreneurship can be proved as the most viable option for accomplishing this daunting task. The recent initiative that ALJ has taken is to generate a job opportunity for 50,000 people by the year 2011. This will be possible by supporting small projects having high growth potential. At the end of 2008, ALJ projected to employ more than 25,000 individual in addition to already created 42,000 jobs at end of the year 2007. The long term vision of the company consisted with offering a better cost-effective community. They also take initiative to sans the wastage of human capital. Food shortage is another alarming issue which affects developed as well as developing countries alike. Taking support of UN, ALJ has invested in certain Food Force projects and thus they are able to serve the humanitarian approach towards the universal appetite (Zain, 2008). 9.0 Conclusion At the first phase of the paper the historic progression of the corporate social responsibility across the world had been described. It has also exhibit the development of CSR in the public sector. The primary aim of the project has also been fulfilled through developing a new model that has been supported by all the theories. The focus of the new developed model is to maintain the equability among all the companies, branches and sub-branches of an organisation. That should be again as per the ethical and governmental standard. Moreover, an important clause has been added to the model and that is to involve multi-stakeholder review process. Meanwhile a country and a specific organisation have been selected to hold the discussion of the paper with proper evidence. Saudi Arabian group of companies, called ALJ group has been chosen to demonstrate the CSR in action. This group of companies has conducted extensive CSR activities. After analysing all the aspects, it can be concluded that Saudi companies have an eagerness to serve their country and to reduce the national issues. And it has been expected from all corporation across the world that they will also consider their social responsibility in a same manner and express their concern for their society and nation. References Cassel, D., 2001. Human Rights Business Responsibilities in the Global Marketplace. Business Ethics Quarterly, 11(2), pp. 261–274. Davis, K., 1960. Can Business Afford to Ignore Corporate Social Responsibilities? 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Corporate Social Responsibility: Doing the Most Good for Your Company and Your Cause. Wiley-India. William, B. & Et. Al., 2010. Strategic Corporate Social Responsibility: Stakeholders in a Global Environment. SAGE. Read More