CSR midterm_StudyGuide - CORPORATE SOCIAL RESPONSIBILITY...

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CORPORATE SOCIAL RESPONSIBILITY PRELIM BY DANIELLE MOSS Multinational Corporations (MNCs ) Economic globalization and trade liberalization have given them powers that match and often surpass that of national governments. They are increasingly perceived as sharing disproportionately too small a burden in assuring the just distribution of social goods and of assuming too small a share in remedying the unequal social distribution of harm and risks. Corporate Social Responsibility Struggles to tame MNCs and to bring them under effective mechanisms of social control Corporations no longer submit to the classical view that they are only answerable to shareholders and that their only commitment is to the maximization of profits. Human rights organizations (such as Amnesty International) argue that the only effective means of ensuring effective governance of corporate social performance is through binding norms. UN, EU and World Bank- pressure to develop enforceable legal frameworks in the form of treaties and multilateral agreements subjecting MNCs to universal social standards. So far attempts to move CSR into enforceable domain has made little headway ATCA cases (Alien Torts Claim Act of 1789) corporate giants have been accused of complicity in human rights violations in impoverished countries (as in Burma, Unocal case, forced labor/relocation/murders/rapes) Texaco case- improper disposal of waste, cultural genocide & damage environment Coca-Cola case- paramilitary units who terrorized and murdered union organizers at a bottling plant in Columbia (murder, extra-judicial killings, kidnapping, torture) Early 2003 Oxfam campaign “fair trade coffee” against Kraft & Proctor & Gamble Nike scandal- sweatshop conditions in impoverished conditions MANGO : market oriented NGO GoNGOS : government NGO CSR goals: Improve financial performance: financial performance of business ethics best citizens was significantly higher than others Enhanced Brand Image and Reputation- attract capital Reduced Regulatory Oversight- fewer inspections, fast track treatment
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Hypocrisy: BP (Beyond Petroleum) spent $200 million on ad campaign meanwhile caused worst oil The Triple Bottomline: Economic
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CSR midterm_StudyGuide - CORPORATE SOCIAL RESPONSIBILITY...

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