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Corporate Social Responsibility
Why Responsibility is a Mainstay for 21st Century Business
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131 b
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Globalization and recent corporate scandals put corporations in the limelight and customers trust on the frontline. Questionable employment practices, low wages, poor working conditions, human rights violations, and environmental catastrophes have become daily fare for TV viewers, newspaper readers, and radio listeners, pressuring corporations to improve their corporate social responsibility policies and practices, and leading to a newfound interest in corporate social responsibility and business ethics. A strong brand image and reputation have become one of the most valuable intangible assets, and critical for today s companies to maintain commercial success, competitiveness, and long-term sustainability. Moreover, an image of being socially and environmentally responsible can drive the business and give the company the upper hand over rivals, boost recruitment and harmonize employee relations and loyalty. Today s corporations have come to understand the importance of building up a well-functioning business with strong values and principles. Respect, honesty, and fair dealing are not just the best policies; they are the only feasible policies.
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