It’s Time to Redefine Corporate Social Responsibility

After years of growing concern over the reach and power of multinational corporations (MNCs), there has been increasing interest in a variety of means to improve their transparency and accountability. In particular, many people have focused on the responsibility of MNCs for their environmental and social impacts, including impacts on vulnerable stakeholder groups. The notion that corporations have an obligation to engage in socially responsible business practices and consider their impacts on stakeholders is generally known as corporate social responsibility (CSR). Alongside concerns over globalization, environmental degradation, and exploitation of cheap labor in developing nations, the past decade has seen … Read more