Digested Journal#6
Digested Journal#6
Digested Journal#6
Corporate Social Responsibility (CSR) has been in the focus for several decades,
making it a natural object of reflection and review. Lately, a growing literature has
emphasized the long-term transformation of the concept. (Carroll, 2021; Idowu et
al., 2017; Latapí Agudelo et al., 2019; Matten & Moon, 2020; Windsor, 2021).
50 years after Milton Friedman’s provoking claim that the only responsibility for
business is to seek profit, a broader debate has emerged aligning CSR with an
increasingly comprehensive concept of sustainability.
Based on the analysis of the public debate, CSR has become a more
comprehensive term. From a long-term perspective, sustainability discourse has
emerged from a marginal position in the public debate to become a major factor in
setting the agenda for business policy and strategy.
OPPORTUNITIES: THREATS:
1. Presence of some articles calling 1. A noticeable number of authors
for more responsible businesses find that CSR discourse is
2. Media as an important 3rd party pervaded by focus on profit,
that forms and reflects public performance and economic values
opinion about business 2. Friedman's Doctrine: The Social
responsibility Responsibility of Business is to
3. Increased attention to Increase Its Profits
sustainability challenged business
behavior
Recommendation/s:
1. Revisit related literatures that paved way on the advocacy of engaging into
responsible business. Related events or incidents may be utilized in the
discussion of making concerted effort to enhance rather than degrade the society
and the environment in business operation.
2. Utilize Social Media and/or Social Media Influencers on the discourse of
Sustainable CSR in order to promote global debates. Social Media in today's
time will capture a larger audience than the traditional media. A thorough but
conservative approach must be observed in order to achieve a higher reliability
on the discussion.
3. The three (3) alternative course of actions mentioned herein may be used in
order to promote an increased public discourse on the topic of Corporate Social
Responsibility, and to change its perception from being a term mainly related to
internal business affairs to part of societal discussion about sustainability.
References:
Brooks, 2010. CSR and the Strait-jacket of economic rationality. Internal Journal and
Social Policy
Burke, 2021. Do boards take environmental, social, and governance issues seriously?
Evidence from Media Coverage and CEO Dismissals. Journal of Business
Ethics
Caroll, 2011. Corporate Reputation and the News Media. Agenda-setting within
Business News Coverage in Developed, emerging, and Frontier Markets:
Routledge
Latapi Agudelo, et.al 2019. A literature review of the history and evolution of corporate
social respnsibility. Internal Journal of Corporate Social Responsibility
Friedman, 1970. A Friedman doctrine: The social responsibility of business is to
increase its profits. The New York Times Magazine
Elkington, 1994. Towards the sustainable corporation: Win-win-win business strategies
for sustainable development. California Management Review