Corporate Social Responsibility: The Dawning of a New Age in Capitalism?

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Buying Influence Inc. is non profit organization committed to positively impacting substandard business practices, thereby cultivating corporate social reasonability in the business community at large. 'Corporate social responsibility' may seem like a new buzzword, but it simply means that corporations act fairly and in a socially responsible manner. Buying Influence believes that this will be accomplished through two grassroots channels: First by gathering and disseminating specific facts about corporate behaviors; and second, by educating consumers regarding the power they possess to alter corporate behavior with every purchasing decision they make. Thus, consumers en masse can have a positive effect on corporate social responsibility mentality taking hold in American businesses today.

According to the online encyclopedia Sourcewatch, corporate social responsibility is commonly described by its promoters as aligning a company's activities with the social, economic and environmental expectations of its "stakeholders." That said, there are many viewpoints as to what exactly the spectrum of issues that are encompassed by the term 'corporate social responsibility," including: Business ethics, investments, green and environment, governance and board accountability, human rights, values, and the workplace environment.

Digging Deeper into Corporate Social Responsibility

Social responsibility is an ethical or ideological theory that an entity whether it is a government, corporation, organization or individual has a responsibility to society. It can also imply that corporations have an implicit obligation to give back to society (such as is claimed as part of corporate social responsibility and/or stakeholder theory). However, social responsibility is voluntary; it is about going above and beyond what is called for by the law, and involves an idea that it is better to be proactive toward a problem rather than reactive to a problem. Corporate social responsibility means eliminating corrupt, irresponsible or unethical behavior that might bring harm to the community, its people, or the environment before the behavior happens. In fact, corporate social responsibility is a concept which encourages organizations to consider the interests of society by taking responsibility for the impact of the organization's activities on customers, employees, shareholders, communities and the environment in all aspects of its operations. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and society at large. (Wiki)

Buying Influence is not the only organization committed to improving corporate social responsibility. Interestingly, the Haas School of Business, Berkeley, CA, is re-defining what good business, and corporate social responsibility means. Launched in 2003, the vision of the Center for Responsible Business is to create a more sustainable, ethical, and socially responsible business and society. They seek to educate a new generation of business leaders who are knowledgeable about and committed to corporate socially responsibility.

The Business Case for Corporate Social Responsibility

Making a business case for corporate social responsibility will be intertwined with more than one of the following concepts: Human resources and employee recruitment, reducing risk management, corporate image and public perception, and brand differentiation in the marketplace.

The interest in corporate social responsibility continues to proliferate. Even the US Dept of State now provides a chapter in their online English learning series covering business ethics and socially responsible business practices. An excerpt:

Socially Responsible Business means doing the right thing. Businesses have an ethical responsibility to customers who buy goods and services from them. Socially responsible business means that companies do the right thing for their customers. Companies consider profit, consumer satisfaction, and societal well being as equally important in the way business is conducted.