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What is Corporate Social Engagement

Chapter 2
CSR and Socially Responsible Investing Strategies in Transitioning and Emerging Economies
Paying attention to strategic opportunities and risks of societal challenges, CSR departments must assign leaders to adopt social responsibility policies, integrate social responsibility in corporate mission plans, and assist the implementation of ethical codes of conduct. Corporate leaders must promote a shared CSR vision and provide responsible leadership throughout the corporation and supply chain. At the operational level, the integration of CSR must be guided by action plans on day-to-day corporate social practices.
Published in Chapter:
Corporate and Financial Social Leadership in Emerging Markets and the Developing World
Julia M. Puaschunder (The Schwartz Center for Economic Policy Analysis,The New School, USA & Graduate School of Arts and Sciences, Columbia University, USA)
Copyright: © 2020 |Pages: 23
DOI: 10.4018/978-1-7998-2193-9.ch002
Abstract
Corporate social responsibility (CSR) attributes economic, legal, social, and philanthropic responsibilities within the corporate sector. Sustainable financial social responsibility is primarily addressed by socially responsible investment (SRI). This chapter addresses the concepts of CSR and SRI in emerging markets and the developing world with special attention to top-down and bottom-up approaches. Theoretical descriptions discuss the human constituents of responsibility and the international emergence of CSR, with special attention to multi-stakeholder partnerships. The rise of SRI in the international arena in the wake of stakeholder activism and intrinsic socio-psychological motives are outlined. Recommendations target ingraining social responsibility in economic systems by global governance, multi-stakeholder management, and governmental assistance of the implementation and administration of corporate and financial social responsibility.
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