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By and large, corporations of the 21st century have come to realise
that their obligations to societies in terms of corporate social
responsibility are fourfold: economic, ethical, altruistic and
strategic. Meeting these four responsibilities is crucial to their
survival in their various markets and industries; it also requires
them to rewrite their previously less socially responsible business
models in order to do so. All indications continue to suggest that
it is those organisations that are perceived to be socially
responsible by stakeholders in modern markets that survive and
prosper. Corporations have equally realised that by being
innovative in all things including their CSR activities and
initiatives they will add value to the so-called bottom line, to
the positive contributions they make to society and to how they are
perceived by their key stakeholders."
The first book specifically written for teaching and professional
training in responsible investment (RI)12 hypothetical case studies
examining the challenges facing RI professionalsSuggested responses
from 35 professionals in the RI community
The history of modern Socially Responsible Investment began with
the Apartheid crisis in South Africa in the 1970s. When asked if
divestment played a role in ending South African Apartheid, Nelson
Mandela answered "undoubtedly". But what about SRI in the 21st
century, does it make a difference for society? The first part of
this book explores the innovative approach of socially responsible
investors in building engagement approaches, mobilizing networks,
developing new products, and proposing alternative models showing
the potential to create change. The second part interrogates the
limits of SRI in making a difference. It questions the potential of
SRI to create change but also proposes ways to increase societal
impacts of SRI. The last section of the volume addresses the
boarder issues of values and governance and shows how they are
central in the SRI discussion. The book takes a critical but
constructive stance on SRI with the objective of contributing to
the capacity and ability of SRI to make a difference. Little
research has been undertaken on the societal impacts of SRI. With
this book we contribute to this debate, pushing the boundaries of
SRI even further.
The recent global financial crisis has indicated that the
conventional dominant paradigm in finance is unable to cope with
the problems of financial systems, markets, and behaviour of
financial institutions, and failed to understand the proper role of
finance in society and the economic system as a whole. Drawing on
the recent movements of corporate social responsibility, socially
responsible investing and sustainable development, this volume goes
further to examine the ongoing making of financial reality towards
social responsibility and sustainability, and aims at a better
understanding of finance as a collective construct and endeavour
embedded in societal context. Bringing together leading scholarly
thinking, this collection opens new avenues of comprehending
corporate social responsibility, reveals mechanisms and strategies
in shaping the reality of responsible finance, searches alternative
approaches towards financial sustainability, and explores new
thinking of coping with complex financial choice and financial
risks. Moving away from the conventional financial paradigm, this
volume demonstrates paradigm shifting in the financial world and
provides fresh insights on how we may reshape the financial reality
to enable societal betterment and prevent any future financial
crisis.
Our experiences of life have enabled us to understand that new
times create new problems and perhaps new opportunities as well for
those who can spot them. Some fifty or so years ago, issues
relating to global warming, environmental pollution, terrorism,
human rights abuses and a host of other social and environmental
problems that are of concern for us today were not of too much of
concern to us. It is therefore reasonable to assume that the
problems future generations of man would face in 50 years time
would certainly be dissimilar to the problems of our time In order
to ensure that man's future situations are not unnecessarily made
more problematic and unbearable than they need be, the present
generation must ensure that they embed in all their many activities
socially responsible behaviours. This was the goal of this book.
After all, today's CSR students are tomorrow's managers,
politicians, opinion leaders, customers, suppliers, social
activists etc. Taking all the issues explored in the fourteen
chapters of Theory and Practice of Corporate Social Responsibility
direct to these leaders of tomorrow was an attempt to begin a
journey which would help us to achieve this goal. It is hoped that
this book has successfully set the scene for socially responsible
behaviours to thrive in our world.
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