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What organizations spring to mind when corporate social responsibility is mentioned? Perhaps you think of the Body Shop which will not sell products that are tested on animals. Or maybe you picture Ben & Jerry's, the ice cream corporation that aims to recognize "the central role that businesses play in the structure of society by initiating innovative ways to improve the quality of life of a broad community - local, national, and international".
McDonalds' social conscience
Whoever you picked, it is probably fair to say that McDonalds was not very high up on your list. Even though allegations of rainforest destruction, third world exploitation and food poisoning were all deemed unjustified by a court of appeal in 1997, this organization is still viewed by many as the epitome of capitalist greed. But could all this be set to change? Earlier this year, McDonalds produced its first social responsibility report - 46 pages of information describing how the company is creating a positive effect upon the community, the environment and the global market.
Corporate social responsibility is hardly a new concept. It has been around since the eighteenth century when anti-slavery groups appealed to the public to buy sugar that had been produced in a country where unpaid labor was not enforced. And certain companies through the ages have taken great pride in "looking out for their employees" both in and out of their working lives. However, it was only relatively recently that the actual term CSR was coined. In the 1980s it was mainly a focus for environmental concerns, but over the last two decades the expression has expanded to encompass a range of issues including:
* business ethics;
* employee volunteering programs;
* overall role in society; and
* meeting the interests of shatholders, stakeholders, employees and customers.
The caring capitalist? Prove it!
Today organizations frequently give money to charity, raise funds for projects in the community and sponsor local events. However, CSR is still viewed by many businesses as peripheral to their core interests - an image enhancement opportunity with no tangible gains. Companies present lengthy social responsibility sections in their annual reports but include little more than glossy photos or promises for more commitment. All too often this is not enough for...