By Subhabrata Bobby Banerjee
It is a travel de strength that conscientiously assembles and incisively interrogates possibly the main urgent challenge of our age: the way to harness the assets of firms to take on worldwide difficulties of poverty, oppression and environmental degradation? Banerjee doesn't current us with glib pronouncements or simplistic fixes. as a substitute, he brilliantly illuminates the dimensions of the demanding situations and lucidly assesses the relevance and cost of CSR responses to date.'- Hugh Willmott, college of Cardiff, UK'Bobby Banerjee takes at the well known mythologies of neo-liberal company social accountability with enviable aptitude and a thoroughness of scholarship that might dismay its apologists. His critique extends from the origins of the fashionable company and its famous abuses and excesses to some distance tougher objectives - the extra beautiful possible choices which were constructed for idea and perform that, as Banerjee exhibits brilliantly, purely serve to masks carrying on with neo-colonial abuses. Banerjee isn't content material just to reveal the impossibilities of doing stable works while maximizing shareholder price, the win-win view of CSR, yet he bites the bullet with a few uncompromising yet practical proposals for the long run reconstruction of CSR either as a box of research and as a company perform. we've got wanted this publicity of the undesirable and the grotesque for a very long time. the present types of CSR are easily simply no longer strong enough.'- Stephen Linstead, college of York, UK'Banerjee pulls the beguiling masks off company social accountability. Taking the vantage aspect of the world's negative, he exhibits CSR to be a merciless hoax - businesses' cynical attempt to undermine growing to be calls for for financial and environmental justice.'- Paul S. Adler, college of Southern California, US'This ebook problematizes the win-win assumption underlying discourses of CSR and means that it's a rhetoric that's always subordinated to that of company rationality. instead of see CSR as delivering the capability to remodel agencies by means of advocating a stakeholder view of the enterprise it argues that CSR represents an ideological stream designed to consolidate the ability of transnational firms and supply a veneer of liberality to the intolerant fiscal schedule of the most important international institutions.'- Stewart Clegg, collage of know-how, Sydney, Australia 'Professor Banerjee deals us a fresh research of company social accountability (CSR) in an in a different way relatively turgid literary panorama. humans might disagree along with his feedback that due to its preoccupation with shareholder worth, the company is an beside the point A''agent for social changeA'' however it is subsidized up by means of robust theoretical and substantial empirical research. within the absence of laws, he argues, agencies will defend the pursuits of shareholders and different basic stakeholder teams comparable to staff or collectors instead of the pursuits of susceptible groups which are the sufferers of socially and environmentally damaging company practices. This publication is key analyzing for an individual excited about what will be noticeable because the such a lot severe trouble of our age.'- David Knights, college of Keele, UK'Bold, insightful and bold, this significant and provocative booklet exposes the contradictions and hypocrisies of company social accountability. Dr Banerjee attracts from a wealth of data and concept to improve an available and compelling research that locates company social accountability in its old, criminal, social, and political context. this can be a infrequent paintings that appears past the A''win-winA'' rhetoric of company social accountability to ascertain the impression of company energy within the international political economic climate on improvement, human rights, and the surroundings.
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Despite the indigenous people being legitimate stakeholders and holding ‘assets’ that were critical to the organization (although their ‘ownership’ of the land does not meet Western property rights criteria because Native Title in Australia imposes severe constraints on land use by its indigenous ‘owners’), the worldview of indigenous stakeholders was not really a legitimate alternative to Western notions of progress and development. Thus while indigenous stakeholders are positioned as legitimate stakeholders whose needs will be ‘constructively addressed’, the stakes that are involved for Aboriginal communities affected by mining are somehow positioned as ‘illegitimate’ or against ‘national interest’.
As Milton Friedman said famously, ‘just as an artificial structure like a building cannot have moral opinions or social responsibility, an artificial legal structure like the corporation cannot have morals or social responsibility’. If an investment on a particular CSR issue results in enhancing shareholder value then according to the neoclassical theorists it is a sound fiduciary decision whose ‘social’ benefit is irrelevant. Second, stakeholder theory is instrumental in that it provides a basis for exploring a relationship between a firm’s CSR activities and other corporate performance parameters like profitability, revenue, return on investments, and so on.
Margolis and Walsh (2003) in a study of 127 empirical studies conducted during 1972–2002 measuring the relationship between corporate social performance and corporate financial performance found that about half the studies reported a positive rela- 26 Corporate social responsibility tionship. , 2003). However, the authors found little evidence of a negative relationship. In other words there is no evidence to state that corporate social responsibility can harm the wealthgenerating ability of business firms, which should lead to alleviating concerns about diminishing shareholder value.