Rarely has the international community been so intensively focused as now on the need to revamp and adapt our international institutions and organizations to the requirements and needs of a new age.
This essay discusses the perplexities and challenges of corporate social responsibility CSR. His question helps set the tone for the topic of corporate social responsibility as a vital part of the Essential Knowledge Project.
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High performance and high integrity are good for the bottom line. By whatever name, interests of organizations cannot long be at odds with mutual interest and common good.
Consideration of corporate social responsibility is as old as organizations themselves. The central question always has been this: Does each organization, as it strives to achieve its mission and vision, add value to the society which franchises its existence?
Long before consideration focused on business, especially large corporations, questions about CSR addressed the rationale and acceptability of government and church. Efficient and rational business practices could in fact harm the society that franchised the organizations to operate.
In the s, interest in CSR became feverish as activists at all points of the ideological and geographical compass called for higher standards of business and government performance. Non-profits asked to share business profits.
Academics argued over the differences between the modern and post-modern organization. As Basu and Palazzo observed: This scrutiny revealed how CSR standards are defined by the ideology of each society. Public relations practitioners contribute to this ideology as they discuss business performance internally and externally.
Critics have reasoned that CSR can become Acknowledging the advantages of privatization, self-serving, and self-affirming—often to the detriment of the society where it was supposed to be a social, political, technical, and financial benefit.
Public relations can help organizations craft their standards and implement them through actions and statements. He sparked decades of controversy by arguing that the only responsibility of publicly held companies is to increase profits—the efficiency paradigm of organizational excellence.
Some today laud his sentiments, and indeed many empirical tests have not found a positive relationship between CSR activities and major corporate financial performance indicators such as profit e. Stovali, Neill, and Perkins fought the traditional interpretation of the Invisible Hand of Adam Smith, which serves to legitimize the maximization of shareholder wealth, and as a result, shareholder-dominant corporate governance.
This view may be more aligned with the dominant concept of CSR and promote a broader, multiple stakeholder approach to corporate governance.
If sympathy suggests only philanthropy, we add that CSR demands empathy, an outside-in way of thinking and planning to help management reflect on its role in and impact on the society where it operates. Critics believe that Friedman failed to understand the positive advantages to be gained from CSR: Senior public relations practitioner, John L.
Paluszek reasoned that advocates of CSR can be committed to profits and the community where they are generated, Business is increasingly in society not only in its traditional role of improving the standard of living—by generating jobs, offering products and services and paying taxes—but also via an overlay of sensitivity that supports employees, empowers customers and investors, and relates to the needs of local, national and international communities.
Does the price of enjoying the franchise to operate in a society where profits are generated include increasing operating standards so that the organization adds value to that society beyond merely making a profit? Clark quoted public relations giant Arthur Page: The legendary John W. It is not the work of public relations—let it always be emphasized—to outsmart the American public in helping management build profits.
It is the job of public relations to help management find ways of identifying its own interests with the public interest—ways so clear that the profit earned by the company may be viewed as contributing to the progress of everybody in the American economy. This history of CSR discussions leads to many conclusions, including the following ones: Thus, higher standards of employee or consumer safety help manage risks and reduce the likelihood of crisis related to employment and consumption.
During the s, discussion of CSR progressed logically from responsiveness to responsibility and rectitude: The heart of CSR is a firm interdependence between business and society. Although his statement is fraught with the irony surrounding the tobacco industry, George Weissmanformer Chairman and Chief Executive Officer of Philip Morris, Inc.
It gets its charter from the government. To survive, the corporation subjects itself to regulation by government, and to serving the needs of government and the commonwealth. Businesses are expected to be involved in community affairs, formerly the exclusive responsibility of government, reasoned Chrisman and Carroll in their efforts to reconcile profits, business goals, and society.
Its character depends on how well it can align its interests with those of consumers, audiences, and publics. For this reason, CSR is not merely a communication challenge; it is a management planning and performance challenge. Public relations can help an organization know the standards needed to achieve CSR through issue monitoring.
Such issue monitoring facilitates an outside-in approach to considering what makes an organization good—the standards and expectations by which it is judged.Trade, Development and Foreign Debt [Michael Hudson] on initiativeblog.com *FREE* shipping on qualifying offers.
In this survey of international economic thought, Michael Hudson rewrites the history of trade, development and debt theorizing. He shows that mainstream free-trade surveys are censorial in excluding the protectionist logic that has guided the trade policy of Europe and the United States.
The Levy Economics Institute of Bard College is a non-profit, nonpartisan, public policy think tank. GLOBAL KLEPTOCRACY Self-serving leaders throughout the world increasingly assume power with the goal of becoming rich at the expense of the majority of their population, and of the commonweal.
Envisioning the United Nations in the Twenty-first Century Proceedings of the Inaugural Symposium on the United Nations System in the Twenty-first Century.
It was 10 years ago that Israel, without announcing it or even acknowledging it officially since, destroyed a nuclear reactor that was under construction in a remote part of northeastern Syria. Envisioning the United Nations in the Twenty-first Century Proceedings of the Inaugural Symposium on the United Nations System in the Twenty-first Century.