Read the full post at Triple Pundit.
Corporate social responsibility is more than “doing well by doing good.” Companies have found that implementing measures related to environmental, social and governance (ESG) issues make a solid business case as well. Consumers have also become more aware of the impacts that their favorite products have on the planet and people, and are urging companies to respond in kind. CSR approaches are hardly monolithic: some companies focus on taking care of their employees and communities, like Ohio-based Smuckers. Others, like Timberland, educate their consumers on the where, why and how their products are manufactured, and work with their vendors to improve working conditions and economic opportunities for their workers. Many companies follow a reporting standard like that of the Global Reporting Initiative; others simply maintain a portal or issue an annual report.
University of Michigan business administration professor Aneel Karnani believes, however, that for companies to act in the public interest, while profiting from their operations, is “fundamentally flawed.”
