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CSR as a business strategy designed either to avoid

CSR as a business strategy designed either to avoid - CSR...

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: CSR as a business strategy designed either to avoid risks that threaten the company’s shareholders’ interests or to promote innovation that benefits the company’s interests; CSR as a policy based upon ethical and moral values; and CSR as a means for achieving social ‘sustainability’. While the authors see evidence of all approaches represented in Australian business they argue that the strategic approach is the dominant one. In their view, even companies adept at economic, political and technological risk management now face new challenges from social and environmental issues. However, without a focus on CSR, by the time a social or environmental issue becomes visible to management it will be too late to manage the issue. The corporation will inevitably be ‘at the mercy’ of government, civil activists and public opinion. Hence the need to pursue active CSR policies and to make CSR a corporate governance issue.
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