The Indian Companies Bill is a remarkable piece of legislation. With one stroke, it has mandated CSR spending across a multitude of companies. It is the result of months of discussions with NGOs, companies, politicians, and bureaucrats, and it is estimated that $3 billion in capital will be generated annually through the money spent by 16,000 companies on CSR (2% of net profits). more[...]
Disclosure efforts by governments around the world more[...]
Corporate social responsibility (CSR) has become firmly established in the business lexicon. Although some conversation partners still need to be reminded of what CSR really is and why it is important, most of them understand its value by now. Indeed, this leads to many different expectations for CSR, such that discussions around it today are shifting toward putting limits on the term and creating rules around it. Where does CSR begin? Where does it end? more[...]
CSR examples from Africa, Latin America, China and the Middle East more[...]
Companies invest a great deal of effort in putting written principles and value systems into practice. This might be in relation to customer orientation, openness, respect, or honesty, for example. If they are to become orientation points in everyday practice, they must be implemented and made routine by means of guidelines, processes, incentive systems, and other organizational measures. But this is only the first step. Leadership behavior, the example set by top management, and clear communication of the culture of values are of the essence. more[...]
For many years Africa is the hotspot for hunger and conflicts. But besite all these troubles ether is also a change for change and hope arising. More countries become aware of the ptential CSR has and include corporate responsibility as a fundanetla brickstone for developing citizenship. Our special illustrates variuos aspects. more[...]
Corporations can no longer easily control their public image by means of public relations and marketing. Clearly defined corporate reporting requirements, rigorous third-party monitoring processes, and multiple media resources of watchdog organizations help to shed light on actual business practices. The increased transparency with regard to corporate conduct has also enabled a larger and more diverse group of corporate stakeholders to voice opinions and formulate demands. In particular, large brand name companies in sensitive consumer goods industries (like food or textiles) are now constantly under public scrutiny. For corporations, this situation creates new management challenges. To ensure the social acceptance of their business (corporate legitimacy), heterogeneous and often contradictory stakeholder demands need to be managed. more[...]
Multistakeholder initiatives such as the UN Global Compact organize their participants in specific ways. Most importantly, they have to bridge global (universal) principles and local (contextualized) implementation practices. Some initiatives have responded to this need by creating a nested network structure – that is, local networks that are embedded into a wider global “network of networks.” The UN Global Compact, for instance, has more than 100 local networks, which are connected through regional hubs, the Annual Local Network Forum, and interactions with the Global Compact Office. Stakeholder dialogue and collective action are emerging both within and among such networks. more[...]
The landscape of business and enterprise policy is subject to almost unparalleled change. An ever-increasing majority of corporate and institutional management boards find themselves operating in a networked world of interests and opportunities for influence. In addition to primary stakeholders such as shareholders, customers, suppliers, and employees, secondary and tertiary stakeholder groups are increasingly making regulatory, social, political, and ethical demands on businesses. more[...]
A broad distinction can be made between stakeholder dialogues that are geared toward consultation and those that focus more strongly on cooperation during implementation. In consultative stakeholder dialogues, actors contribute their expertise, viewpoints, and experience. Initiators of the stakeholder dialogue are usually responsible for the further use of recommendations and lessons learned. Consultative and cooperative forms of stakeholder dialogues subsume the following variants: more[...]
Lobbyists paying elected representatives to place questions in the UK parliament. Arms manufacturers giving South African officials BMWs in exchange for armaments contracts. Smoke-filled back rooms featuring stuffed brown envelopes. No wonder lobbying has a bad name. But these are not images of lobbying: They depict corruption, albeit in a policymaking setting. These actions are morally suspect and usually illegal. They also contravene the UN Global Compact: Principle 10 requires the combating of corruption. more[...]
Multistakeholder initiatives such as the UN Global Compact organize their participants in specific ways. Most importantly, they have to bridge global (universal) principles and local (contextualized) implementation practices. Some initiatives have responded to this need by creating a nested network structure – that is, local networks that are embedded into a wider global “network of networks.” The UN Global Compact, for instance, has more than 100 local networks, which are connected through regional hubs, the Annual Local Network Forum, and interactions with the Global Compact Office. Stakeholder dialogue and collective action are emerging both within and among such networks. more[...]
In this article, we explain why managing legitimacy is vital for corporations and how business firms can employ strategies to maintain their legitimacy. We then discuss the organizational capacities that each legitimacy strategy implies and point out their inherent tensions. Based on the results of an empirical study, we show how two large corporations have handled these tensions and successfully introduced organizational prerequisites for managing legitimacy. In the final part of this article we elaborate on how participants of the UN Global Compact can use the initiative to strengthen their legitimacy. more[...]
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