I enjoyed your article on ghanaweb today, though nobody had commented
on it because most rejoinders come from less academic inclined
riff-raffs, with a few enlightened ones spicing the comments. I
disagree with you lumpin ... read full comment
I enjoyed your article on ghanaweb today, though nobody had commented
on it because most rejoinders come from less academic inclined
riff-raffs, with a few enlightened ones spicing the comments. I
disagree with you lumping Corporate Governance under CSR as I am well
versed in these issues. Please note the mistake and do not mix them up
again. CSR
is said to be undertaken for 'enlightened self interest' by Milton
Friedman and Co. who argue as you quoted rightly that, 'the business
of business is business. Business has no business doing the business
of Government by undertaking welfare acts, as that is tantamount to
double taxation.' However, in this globalised world of stiff
competition, CSR is a way to gain competitive advantage over rivals to
attract ethical consumers, investors, professionals, and the goodwill
of the public. It adds value in the long term survival game and
sustainability, as in Elkingham's Triple Bottomline of 3Ps of
attention to Profit, People, and Planet. Carroll's Pyramid model talks
of PEEELS, attention to Philanthropy, Economic, Ethical, Ecological,
Legal, Social aspects in a holistic manner, using Kaplan and Norton's
Balanced Scorecard model of performance metrics of customer
perspective, learning and innovation perspective, internal processes
perspective, etc. CSR is criticised as a publicity stunt. However,
Mintzberg and Sternberg argue that businesses cause more negative
externalities and social bads than they pay in tax, so undertaking CSR
is a way to compensate society by partnering with Govt. in economic
development. That businesses should conform to a Social Charter (not
Social Contract of JJ Rousseau) by publishing their beliefs and
standards to be ethical, and to undertake Environmental Impact
Assessment prior to any commencement of a project such as drilling
oil, through Cost-benefit analysis.
All the same, a nice academic stimulating piece. Warm regards.
I enjoyed your article on ghanaweb today, though nobody had commented
on it because most rejoinders come from less academic inclined
riff-raffs, with a few enlightened ones spicing the comments. I
disagree with you lumpin ...
read full comment