Corporate social responsibility and corporate governance: Comparative perspectives

Blackwell Publishing Ltd
Publication Type:
Journal Article
Corporate Governance - An International Review, 2013, 21 (5), pp. 413 - 419
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AAt its most basic, corporate social responsibility (CSR) is represented in the firms choices of how it will operate within the social, political, legal, and ethical standards of the environments in which it finds itself, as well as choices about where it will and will not operate. As such, a firms CSR strategy is unlikely to be independent, or even separable, from its basic value propositions to its customers, workers, suppliers, shareholders, or other key stakeholders: groups which are themselves embedded wholly or partially within their own societies (Freeman, 1984). This implies that one cannot understand the CSR strategy and politics of organizations without understanding the nature of the institutional environments in which they choose or are forced to operate.
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