This study examines the job postings for open innovation (OI) specialists to determine a universal archetype of what competencies and tasks are requested from said professionals and their implications for corporate sustainability and responsibility. This research uses Bayesian statistics and latent Dirichlet allocation (LDA) topic modeling to measure multiple dimensions of the 341 sampled job postings. Our empirical findings unveil the pivotal role that OI specialists have in engaging with stakeholders and monitoring OI dynamics. Multiple dimensions are (...) expected from OI specialists, addressing a multitude of concerns, such as the environment and technologies. Moreover, this study underlines the need for OI specialists to comprehend both internal and external stakeholders' needs. This research contributes to the literature as follows. First, it underlines the value of topic modeling analysis in job profiling research. Second, it bridges existing knowledge gaps on OI specialists' competencies and roles with empirical evidence obtained from a global dataset. Third, it outlines the current market expectations and requirements for OI specialists, which is useful to both candidates and companies. (shrink)

The book examines the evolution and current state of corporate social responsibility (CSR), using a five-stage maturity model: defensive, charitable, promotional, strategic and transformative CSR. The first four stages are dubbed CSR 1.0 and characterise most current CSR practice, while the fifth stage is named CSR 2.0 (also transformative or systemic CSR) and describes emergent and future CSR practices. Reasons are given why CSR 1.0 approaches have failed to have any significant impact on the most serious global social, (...) environmental and ethical challenges. The emergent CSR 2.0 will then be explored in detail by elaborating on five principles underlying the new approach, including: creativity, scalability, responsiveness, glocality and circularity. A four-part DNA Model is also introduced, covering value creation, good governance, societal contribution and ecological integrity, which provides the basis for defining and measuring CSR 2.0. Finally, a 70-question CSR 2.0 self-assessment diagnostic tool developed by the author is presented, with sample data to show how the tool can be used for future research and practitioner application. (shrink)

In the quest to build truly sustainable corporations and supply chains, we propose the moral responsibility theory of corporate sustainability and the moral responsibility theory of sustainable supply chain. Built from morality literature in philosophy, the view of corporations as moral agents in law, and analyses of corporate hypocrisy and its role in an organization’s and its members’ behaviors, our theories show how a truly sustainable corporation and its external supply chain could emerge. At the (...) core, we believe that without a sense of moral responsibility businesses throughout the supply chain will not be truly sustainable. In today’s highly globalized and fragmented business environments, corporations do businesses with external supply chain partners, and without the truly sustainable supply chain partners, they may not be able to achieve sustainability goals. Moreover, for such a supply chain to be truly sustainable, each member of the supply chain must also be truly sustainable. For each member of the supply chain to be truly sustainable, the individuals who work in a corporation must be truly sustainable as well. That is, a truly sustainable supply chain cannot be established without its member corporations’ and employees’ commitment to and successes in sustainability. This paper shows how business moral responsibility and corporate sustainability are closely intertwined. How these theories could be applied in the corporate and supply chain settings are discussed, and future research opportunities are presented. (shrink)

In a world undergoing rapid change, the effective use of strategic alliances is important for a company to gain a competitive advantage. While previous research has mentioned the importance of understanding the authority and responsibilities of a successful alliance manager, few studies have investigated this topic using systematically gathered real-world data. This study aims to determine the kind of authority and responsibilities an alliance manager has in successful sustainability alliance projects. These generally require cooperation with players in heterogeneous sectors. (...) An analytical framework was developed to examine sustainability alliance cases. Findings reveal that alliance managers at companies with excellent sustainability performance operate in an environment in which psychological safety is ensured. This enables them to autonomously develop emergent activities inside and outside the organization and have greater influence over alliance projects than the authority granted to them. This study suggests that it is essential for an organization to have a management philosophy based on sustainability as a standard for making value judgments. The communication of this philosophy contributes to the psychological safety of staff and thus their initiative taking in boundary spanning. (shrink)

Sustainable development (SD) – that is, “Development that meets the needs of current generations without compromising the ability of future generations to meet their needs and aspirations” – can be pursued in many different ways. Stakeholder relations management (SRM) is one such way, through which corporations are confronted with economic, social, and environmental stakeholder claims. This paper lays the groundwork for an empirical analysis of the question of how far SD can be achieved through SRM. It describes the so-called SD–SRM (...) perspective as a distinctive research approach and shows how it relates to the wider body of stakeholder theory. Next, the concept of SD is operationalized for the microeconomic level with reference to important documents. Based on the ensuing SD framework, it is shown how SD and SRM relate to each other, and how the two concepts relate to other popular concepts such as Corporate Sustainability and Corporate Social Responsibility. The paper concludes that the significance of societal guiding models such as SD and of management approaches like CSR is strongly dependent on their footing in society. (shrink)

The objective of this paper is to examine the relationship between business model innovation, corporate sustainability, and the underlying organisational values. Moreover, the paper examines how the three dimensions correlate with corporate financial performance. It is concluded that companies with innovative business models are more likely to address corporate sustainability and that business model innovation and corporate sustainability alike are typically found in organisations rooted in values of flexibility and discretion. Business model innovation (...) and corporate sustainability thus seem to have their origin in the fundamental principles guiding the organisation. In addition, the study also finds a positive relationship between the core organisational values and financial performance. The analysis of the paper is based on survey responses from 492 managers within the Swedish fashion industry. (shrink)

This article explores how corporate governance processes and structures are being used in large Australian companies to develop, lead and implement corporate responsibility strategies. It presents an empirical analysis of the governance of sustainability in fifty large listed companies based on each company’s disclosures in annual and sustainability reports. We find that significant progress is being made by large listed Australian companies towards integrating sustainability into core business operations. There is evidence of leadership structures (...) being put in place to ensure that board and senior management are involved in sustainability strategy development and are then incentivised to monitor and ensure implementation of that strategy through financial rewards. There is evidence of a willingness to engage and communicate clearly the results of these strategies to interested stakeholders. Overall, there appears to be a developing acceptance amongst large corporations that efforts towards improved corporate sustainability are not only expected but are of value to the business. We suggest that this is evidence of a managerial shift away from an orthodox shareholder primacy understanding of the corporation towards a more enlightened shareholder value approach, often encompassing a stakeholder-orientated view of business strategy. However, strong underlying tensions remain due to the insistent market emphasis on shareholder value. (shrink)

Corporate citizenship, social responsibility and sustainability reports could be analyzed from a philosophical viewpoint. In this article, we will use Paul Ricoeur’s hermeneutic philosophy to assess the narrativity of such reports. Out of a philosophical viewpoint, our exploratory study analyzes the contents of ten reports: two corporate citizenship reports, three corporate social responsibility reports, and five sustainability reports. Those reports are arising in-time and are thus referring to past corporate events and phenomena. (...) Sometimes such reports introduce a corporate world-dream that could emphasize various issues such as human dignity and inclusiveness/diversity, global health, and planetary stewardship. They could even convey a subversive ideal that could strongly shake the foundations of business. The way business corporations are understanding corporate citizenship and sustainability could, more or less radically, change the way we are doing business. However, those corporate citizenship, social responsibility and sustainability reports do not have any emplotment. They are thus stories that cannot be considered as narratives. We could call them “would-be” narratives. (shrink)

An increase in the number of companies that publish corporate social responsibility (CSR) statements, and a rise in their ‘sustainability’ research, reflects a growing acceptance that broad ethical considerations are key for any type of company. However, little is known about how companies consider moral objectives for their research and development (R&D) activities, or the basis upon which these activities are chosen. This research involves qualitative investigation into Responsible Research and Innovation (RRI) in the Information and Communication (...) Technology (ICT) industry, comprising 30 in-depth, pan-European interviews with key personnel in the industry, and focus groups with employees at 14 different companies. Through investigation of the ‘responsible’ activities these companies currently undertake, we shed light on the types of moral goals they set and their underlying ethical standpoints. By reviewing both the responsible innovation and sustainability discourses, and presenting phenomenological evidence, we demonstrate that companies have adopted some aspects of RRI, even though it might not be recognised as such. Our findings indicate that these innovators recognise some of the ethical and societal concerns associated with their activities but their approach is often piecemeal; primary focus is upon the most immediate issues and on legal compliance, to the detriment of broader societal issues and wider challenges. We recommend explicit mechanisms that draw upon established ethical thought and practical academic work to improve companies' abilities to carry out their sustainability activities, and incorporate them into a responsible business strategy. We conclude with recommendations for innovators, corporate research and development, and policy. (shrink)

This book explores sustainability and social responsibility from the point of view of accountability reporting systems. The contributions to this volume open up discussions about the theory and application of sustainability and social responsibility across various corporate sectors and assists the reader in applying sustainable corporate social responsibility reporting across those sectors. As a central theme, the book addresses how the theory and application in sustainability and social responsibility has different dimensions (...) and aspects which are impossible to apply across different sectors. This point of view is supported by chapter contributions from countries around the world including Turkey, Serbia, Malaysia, United States, South Africa, Italy, China, Brasil, Romania, Serbia, Puerta Rico, Algeria. Academics worldwide will discover in Sustainability and Social Responsibility of Accountability Reporting Systems: A Global Approach the latest developments about corporate social responsibility and sustainability of accountability reporting systems. (shrink)

Operational and financial sustainability have, over time, remained as issues in the microfinance industry. The microfinance industry is struggling to gain self-sufficiency in Pakistan due to non-performing loans and operating costs. Simultaneously, deliberation on corporate social responsibility is also considered in academic literature and organizational practices. However, studies on CSR and financial performance in the microfinance sector are scarce, especially in Pakistan. CSR will develop customer attraction and loyalty, employee attraction, motivation and commitment, MFIs' reputation and access (...) to capital, and eventually build financial performance. Interviews were conducted with branch managers of microfinance institutions to test previous questionnaires. A self-administered survey was conducted to collect data from the managers of the microfinance banks operating in Punjab. Descriptive and inferential statistics were performed to answer research questions using Smart PLS. Most of the microfinance institutions believe in social responsibilities but lacks fund allocation and approval from higher management, and results are in line with prior studies. These empirical findings lead to the perception that CSR is not a barrier performance in microfinance banks as they have access to capital. The results indicated a strong positive correlation between CSR and the financial performance of the MFIs. CSR also positively correlates with customer retention, employees' motivation and attraction, and business reputation. CSR was associated with access to capital but was found to be weak. The research also narrated the limitation and practical implications of the study. The study also discusses further research directions. (shrink)

ABSTRACT:This article reviews four key orientations in environmental ethics that range from an instrumental understanding of sustainability to one that acknowledges the intrinsic value of sustainable behavior. It then shows that the current scholarly discourse around corporate sustainability management—as reflected in environment management, corporate social responsibility, and corporate political activity —mostly favors an instrumental perspective on sustainability. Sustainable business practices are viewed as anthropocentric and are conceptualized as a means to achieve competitive advantage. (...) Based on these observations, we speculate about what corporate sustainability management might look like if it applied ethical orientations that emphasize the intrinsic value of nature. This discussion also includes an introduction to two articles in this special section focused on the role of the environmental manager and sustainability standards, both of which offer paths for incorporating intrinsic valuation of the environment into sustainability management. (shrink)

Business and Society Review, Volume 127, Issue 1, Page 23-48, Spring 2022.

ABSTRACT:Of the many developments in business ethics that Thomas Donaldson has helped pioneer, one is the application of social contract theory to address questions about the responsibilities of business actors. InCorporations and Morality, Donaldson develops one of the most sustained and comprehensive accounts that aims to justify the existence of for-profit corporations and to specify and ground their responsibilities. In order to further our understanding about the purpose and responsibilities of productive organizations, and as a contribution to the scholarship on (...) Donaldson’s thought, this paper gathers together the critical responses to Donaldson’s account along with Donaldson’s replies to his critics. The paper argues that we would do well to continue engaging with Donaldson’s account because of its distinctive and challenging conception of the purpose and responsibilities of productive organizations, but that many of the insights to be gained come from reframing the role played by social contract theory. (shrink)

The purpose of this study is to examine whether corporate social responsibility activities perceived by consumers affect brand trust and corporate sustainability management. In other words, this study tried to examine whether the compatibility and authenticity of CSR influences brand trust, thereby affecting CSM including economic viability, environmental soundness, and social responsibility. To measure this, an empirical analysis was conducted on 479 consumers who had experience purchasing products from cosmetic companies that are carrying out CSR. (...) As a result of the analysis, it was found that the compatibility and authenticity of CSR have a positive effect on brand trust. Also, it was found that brand trust had a positive effect on social responsibility among the sub-concepts of CSM, but did not affect economic viability and environmental soundness. The results of this study are expected to provide strategic implications for social responsibility performance and brand trust building necessary for cosmetics companies to grow continuously. (shrink)

To make a business case for corporate sustainability, firms must be able to sell their sustainable products. The influence that firm engagement with non-governmental organizations may have on consumer adoption of sustainable products has been neglected in previous research. We address this by embedding corporate sustainability in a cosmopolitan framework that connects firms, consumers, and civil society organizations based on the understanding of responsibility for global humanity that underlies both the sustainability and cosmopolitanism concepts. (...) We hypothesize that firms’ sustainability engagement and their NGO engagement influence consumer adoption of sustainable products. Empirically, we investigate the adoption of sustainable Eco-circle products made from recycled fibers marketed by Li Ning, a China-based global sportswear brand. We apply a stepwise regression approach to test our hypotheses with paper-and-pencil survey data from 217 Chinese consumers. We find adoption to be positively associated with consumers’ sustainability attitude but not with firms’ sustainability engagement. For firm–NGO engagement, these relationships are reversed: Adoption is positively associated with firm–NGO engagement, but not with consumers’ related attitude. Our results present a picture of the Chinese context in which there is a business case for corporate sustainability if firms’ words about sustainable product strategies are supported by signals from civil society about firm deeds. The results imply that in a Chinese context, firms need to be particularly aware of the role of NGOs when hoping to be rewarded for sustainability. (shrink)

Improving corporate governance, business sustainability, and accountability for business organizations appears to be a global trend. Society is holding public companies responsible and accountable for their business activities and their financial reporting process. The public, regulators, accounting profession, and academic community are also taking a closer look at colleges and universities to find ways to hold these institutions more accountable for achieving their mission of providing higher education with relevant curriculum. Three areas that have recently received long-awaited attention (...) are business sustainability, professional ethics, and corporate governance. Business schools play an important and everlasting role in preparing the next generation of business leaders who possess life-long education and training of acting with integrity and upholding the highest level of ethical conduct and the heavy burden of public trust. These next generations of business leaders must understand the importance of ethical conduct, business sustainability and corporate governance corporations to our society and the complexity of financial reporting. Thus, business curriculum must reflect promotion of ethical behavior, professional accountability, and personal integrity taught to business students. Corporate governance, business sustainability, ethics including accountability, integrity, and transparency must be integrated throughout the business curriculum. The book is organized into three modules. Module I presents business sustainability, its importance, five dimensions of business sustainability performance including economic, governance, social, ethics and environmental (EGSEE), sustainability reporting and assurance and sustainability research and education. Module II provides the emergence of corporate governance, a framework for discussion of important functions of corporate governance including oversight, managerial, compliance, advisory, auditing, and monitoring as well as and integrating corporate governance into accounting research and business curricula. Module III discusses the importance of business and professional ethics, workplace ethics and trends in ethics research and education. (shrink)

We seek to add to the Corporate Social Responsibility (CSR) and Sustainable Development (SD) literature through the empirical study of Latin American firm membership in the United Nations Global Compact (GC) and Global Report Initiative (GRI). Within an institutional-based framework, we explore through three filters – commercial, state-signaling, and distinguished peers – the impact of normative and mimetic pressures associated with GC/gri membership. Our sample includes 207 public firms from six Latin American countries (Argentina, Brazil, Chile, Colombia, Mexico, (...) and Peru). Our results suggest Latin American firms from countries with a greater European influence (normative pressure) are twice as likely to be enrolled in the GC/gri. Additionally, we find that Latin American firms listed on the NYSE (mimetic pressure) are also twice as likely to sign up under the GC/gri. Hence, the normative and mimetic pillars of institutional theory are found to be significant factors for Latin American firms adopting sustainability initiatives. (shrink)

We argue the need for academics to resist and challenge the hegemonic discourse of sustainable development within the corporate context. Laclau and Mouffe’s discourse theory provides a useful framework for recognizing the complex nature of sustainable development and a way of conceptualizing counter-hegemonies. Published empirical research that analyzes sustainable development discourse within corporate reports is examined to consider how the hegemonic discourse is constructed. Embedded assumptions within the hegemonic construction are identified including sustainable development as primarily about economic (...) development, progress, growth, profitability, and “responsibly” managed levels of resource depletion. We call for multiple voices in the discursive field to debate and to resist closure and highlight the possibilities for academic researchers to actively resist the hegemonic construction. Specifically, we advocate vigilance and awareness, critical and reflective analyses, challenge and resistance based on other frames of reference, and strategies for communicating both within and outside the academy. (shrink)

Business Ethics, the Environment & Responsibility, EarlyView.

The financial services sector has the potential to be an important driver for improved corporate social and environmental responsibility through its control over corporate financing. But, so far, only ad hoc policy initiatives have arisen in the European Union and other countries. Because the financial services sector is where wholesale decisions regarding future development, and thus pressures on the environment, arise, the reform of investment and banking services to promote long term investment and better consideration of environmental (...) impacts may be an effective way to promote sustainable development. Reforms such as corporate environmental reporting requirements and lender liability for borrowers’ environmental harm, are some of the ways by which an institutional framework for mobilising financial organizations as instruments of environmental regulation could be constructed. (shrink)

Strategic leadership and corporate sustainability have recently come together in conspicuously explicit fashion through the emergence of top management team positions with dedicated corporate sustainability responsibilities. These TMT positions, commonly referred to as “Chief Sustainability Officers,” have found their way into the upper echelons of many of the world’s largest corporations alongside more traditional TMT positions including the CEO and CFO. We explore this phenomenon and consider the following two questions: Why are corporate (...) class='Hi'>sustainability positions being installed to the TMT?What effects do corporate sustainability TMT positions have at their organizations? We consider these questions through strategic leadership and neoinstitutional theoretical frameworks. Through the latter, we also engage with Weberian considerations of bureaucracy. We find that the reasons why corporate sustainability TMT positions are installed can be in response to a crisis at the corporation for which its legitimacy is challenged. We also find the corporate sustainability TMT position can be installed proactively in an effort to realize external opportunities that may have otherwise gone unrealized without concerted attention and coordination afforded by a strategic level position. Regarding effects, we determine the position can relate to the establishment of bureaucratic structures dedicated to corporate sustainability within the corporation through which formalized processes and key performance indicators to drive corporate sustainability performances are established. In the face of our finding that many corporate sustainability TMT positions are being removed despite having only relatively recently been introduced to their respective TMTs, we find that the successful implementation of bureaucratic machinery can help considerations to sustainability extend beyond the tenure of a corporate sustainability position within the TMT. (shrink)

Over recent years, there has been a focus in corporate activity upon the concept of corporate social responsibility (CSR) and one of its central platforms, the notion of sustainability, and particularly sustainable development. We argue in this article that the use of such a term has the effect of obfuscating the real situation regarding the effect of corporate activity upon the external environment and the consequent implications for the future. One of the effects of persuading (...) that corporate activity is sustainable is that the cost of capital for the firm is reduced as investors are misled into thinking that the level of risk involved in their investment is lower than it actually is. We analyse the effects of this misrepresentation and argue for a fuller debate about sustainability. (shrink)

According to Dr. Clare Graves, mankind has developed eight core value systems,1 as responses to prevailing circumstances. Given different contexts and value systems, a one-solution-fits-all concept of corporate sustainability is not reasonable. Therefore, this paper presents various definitions and forms of sustainability, each linked to specific (societal) circumstances and related value systems. A sustainability matrix– an essential element of the overall European Corporate Sustainability Framework – is described showing six types of organizations at different (...) developmental stages, with different forms of corporate sustainability, each supported by specific institutional arrangements. (shrink)

The lack of attention to sustainability, as a concept with multiple dimensions, has presented a developmental gap in green marketing literature, sustainability, and marketing literature for decades. Based on the established premise of customer–corporate (C–C) identification, in which consumers respond favorably to companies with corporate social responsibility initiatives that they identify with, we propose that consumers would respond similarly to companies with sustainability initiatives. We postulate that consumers care about protecting and preserving favorable economic (...) environments (an economic dimension of sustainability) as much as they care about natural environments. Thus, we investigate how two sustainability dimensions (i.e., environmental and economic) and price can influence consumer responses. Using an experimental method, we demonstrate that consumers favor sustainability in both dimensions by giving positive evaluations of the company and purchase intent. In addition, consumers respond more negatively to poor company sustainability than to high company sustainability. In comparison, consumers respond more negatively to the company’s poor commitment to caring for the environment than to the company’s poor commitment to economic sustainability. We also find that consumers do not respond favorably to low prices when they have information about the firm’s poor environmental sustainability. Finally, we find support for an interaction effect between consumer support for sustainability and corporate sustainability; that is, consumers evaluate a company more favorably if the company shares the consumers’ social causes. Overall, we conclude, from our empirical study, support for the idea that consumers do respond to multiple dimensions of sustainability. (shrink)

While proponents of sustainability reporting believe in its potential to help corporations be accountable and transparent about their social and environmental impacts, there has been growing criticism asserting that such reporting schemes are utilized primarily as impression management tools. Drawing on Goffman’s self-presentation theory and its frontstage/backstage analogy, we contrast the frontstage sustainability discourse of a sample of large U.S. oil and gas firms to their backstage corporate political activities in the context of the passage of the (...) American-Made Energy and Good Jobs Act, also known as the Arctic National Wildlife Refuge Bill. The ANWR Bill was designed to allow oil exploration within the most sensitive environmental areas in the Refuge and this bill was vigorously debated in the United States Congress in 2005 and 2006. Our results suggest that the firms’ sustainability discourse on environmental stewardship and responsibility contrasts sharply with their less visible but proactive political strategies targeted to facilitate the passage of the ANWR Bill. This study thus contributes to the social and environmental accounting and accountability literature by highlighting the relevance of Goffman’s frontstage/backstage analogy in uncovering and documenting further the deceptive nature of the discourse contained in stand-alone sustainability reports. In addition, it seeks to contribute to the overall understanding of the multifaceted nature of sustainability reporting by placing it in relation to corporate political activities. (shrink)

Over the last two decades, corporate sustainability has been established as a legitimate research topic among management and organization scholars. This introductory article explores potential avenues for advances in research on corporate sustainability by readdressing some of the fundamental aspects of the sustainability debate and approaching some novel perspectives and insights from outside the corporate sustainability field. This essay also sketches out how each of the six articles of this special issue contribute to (...) the literature by going back to some of the conceptual roots of sustainability and/or by offering novel perspectives for research on corporate sustainability. As these six articles and the outlook on future research opportunities show, broadening the inquiry of corporate sustainability in terms of topics, theories, and methodologies holds considerable potential to improve our understanding of how decision makers and organizations respond to sustainability. (shrink)

Business Ethics, the Environment &Responsibility, Volume 33, Issue 2, Page 184-200, April 2024.

Company decision makers constantly face the competing demands of business and sustainability. Although chief executive officers (CEOs) are the main actors responsible for ensuring overall company performance and addressing multiple competing demands, few studies have explored their understanding of business and sustainability and how these understandings relate to tensions and tension handling. The present study uses a discursive approach to analyse CEO interview data and identifies three distinct discourses—instrumental, normative and transformative discourses—through which the CEOs construct corporate (...) sustainability. These discourses occur simultaneously and result in different tensions and tension management strategies. By offering an approach for examining individual CEOs' corporate sustainability constructions alongside tension construction and management in their contexts, this study contributes to the literature on tensions in corporate sustainability. The simultaneous presence of contradictory yet intertwined discourses illustrates how CEOs respond to complexity related to corporate sustainability, including multiple strategic objectives, diverse stakeholder demands and associated tensions. The discourses also reveal how CEOs' language use fosters or hinders corporate sustainability actions and determines who and what is taken into consideration. The findings related to the CEOs' transformative discourse introduced in this paper demonstrate such constructions that have potential to address and transcend competing business and sustainability demands. (shrink)

This paper summarizes a discussion session investigating the corporate representatives behind corporate citizenship and sustainability initiatives.

Despite a strong plea for integrating sustainability goals into traditional corporate bonus schemes, a comprehensive implementation of these systems has been lacking until recently. This article explores four illustrative cases from the Netherlands, where several multinationals started to pioneer with sustainable bonuses in the past few years. The article examines the setups and the different elements of bonus programmes used, in terms of performance criteria (focusing in particular on external vs. internal benchmarking), their link to specific stakeholders, type (...) and size of bonuses, target levels and transparency. While sustainable bonuses signal corporate awareness of responsibility vis-à-vis society and stakeholders, credibility varies considerably depending on these elements. Our case evidence sheds some light on the extent to which sustainable bonuses may be a credible sign of corporate responsibility or rather just another perverse mechanism meant to keep up bonus levels (window dressing). A definite assessment is hampered by the emergent state and lack of full transparency—while ‘justified’ by companies for competitive reasons, this raises questions. Insights are offered to appraise current and future systems and provide directions for further research. (shrink)

This paper provides an overview of the contemporary debate on the concepts and definitions of Corporate Social Responsibility (CSR) and Corporate Sustainability (CS). The conclusions, based on historical perspectives, philosophical analyses, impact of changing contexts and situations and practical considerations, show that "one solution fits all"-definition for CS(R) should be abandoned, accepting various and more specific definitions matching the development, awareness and ambition levels of organizations.

The concept of sustainable and responsible (SR) investments expresses that every investment should be based on the SR investor’s code of ethics. To a large extent the allocation of SR investments to more sustainable companies and ethical practices is based on the environmental, social, and corporate governance (ESG) scores provided by rating agencies. However, a thorough investigation of ESG scores is a neglected topic in the literature. This paper uses Thomson Reuters ASSET4 ESG ratings to analyze the influence of (...) firm size, a company’s available resources for providing ESG data, and the availability of a company’s ESG data on the company’s sustainability performance. We find a significant positive correlation between the stated variables, which can be explained by organizational legitimacy. The results raise the question of whether the way the ESG score measures corporate sustainability gives an advantage to larger firms with more resources while not providing SR investors with the information needed to make decisions based on their beliefs. Due to our results, SR investors and scholars should reopen the discussion about: what sustainability rating agencies measure with ESG scores, what exactly needs to be measured, and if the sustainable finance community can reach their self-imposed objectives with this measurement. (shrink)

Paradox theory offers a unique approach through which the complex and often conflicting aspects of corporate sustainability (CS) can be addressed. Although a growing body of literature has focused on the organizational-level outcomes of a paradox approach to sustainability, we know less about how such an approach creates business contributions to sustainable development beyond the organization (societal sustainability). The present study addresses this gap in research through a qualitative meta-analysis of 32 empirical case studies. While the (...) analyzed studies confirmed the effectiveness of a paradox approach to managing CS tensions from an organizational perspective, indications of contributions to societal sustainability were ambiguous. This finding led to the creation of a typology of response–outcome pathways. These pathways illustrate variations in the societal sustainability outcomes of CS paradox responses based on the moderating effects of three factors: level of commitment to sustainability, the approach to stakeholder engagement, and the level of strategy–practice alignment. This analysis contributes to the CS paradox perspective by offering important boundary conditions to the commonly held assumption that a paradox approach leads to superior business contributions to sustainability and highlights the need for research that examines outcomes of extant CS approaches beyond the organization. (shrink)

This paper explores the integration of John Rawls’s (1921–2002) theory of “justice as fairness” into corporate social responsibility (CSR). It accentuates the shift from solely focusing on profit maximization to a model that prioritizes ethical governance and sustainable development. The paper reinterprets Rawls’s theory for corporate ethics and governance, asserting that businesses have a moral obligation to uphold fairness and equity beyond mere compliance or public perception. It acknowledges the role of the government in this integration. It (...) recognizes the challenges in aligning Rawlsian principles with corporate objectives while balancing economic and societal obligations. The fusion of CSR with Rawlsian ideas can potentially bring transformative impacts to businesses, paving the way for a more equitable form of capitalism that combines economic goals with a strong commitment to social justice and ethical practices. (shrink)

This book provides a rich collection of essays discussing and showcasing the transformation of businesses around the world towards sustainability and responsibility. Based on a framework of global theoretical approaches, it presents practical examples and cases from a variety of industries, regions and corporate functions. It also highlights the latest insights on how corporations consider sustainability in the governance of their respective organization. Furthermore, the book features a section dedicated to responsible finance, and outlines business and (...) management-driven approaches that contradict the traditionally held belief that a trade-off exists between sustainability, social responsibility and profit. (shrink)

This book explores the current state of Corporate Social Responsibility (CSR) in 24 European nations, examining the state of the development and practice of CSR and sustainability for organizations in these countries. The common denominator for all of the book's 25 chapters is a management perspective rather than an ethical discourse. The book therefore represents a comprehensive survey of initiatives and activities in the field of CSR and provides a wealth of complete cases and examples for different (...) approaches to sustainable and responsible management practice. The book also reviews the relevant political and governmental guidelines and frameworks for organizations, both on a national and a European level. Europe has taken a leading role in the promotion and implementation of CSR. This book showcases how, through CSR, enterprises can significantly contribute to achieving the European Union's treaty objectives of sustainable development and a highly competitive social market economy. (shrink)

This article describes the European Corporate Sustainability Framework (ECSF). This framework addresses complex issues such as Corporate Sustainability, Corporate Responsibility and Corporate Change. It is a conceptual framework based on the tradition of the quality management approach and the concept of phase-wise development. The framework is based on several theories and models, all proven individually over several decades. These theories are the Emergent Cyclical Levels of Existence Theory (ECLET) of Professor Graves, The Four (...) Phase Model© (Hardjono), EFQM's Business Excellence Model, Kaplan and Norton's Business Balanced scorecard, the research deliverables of the project "The European Way to Excellence" and the SqEME® methodology. All these models, theories and/or studies belong to the interpretative sociology (Milwax Burell and Morgan, 1992). The aim of the ECSF is to support organizations in their implementation of Corporate Sustainability and Corporate Responsibility (CS-R) by addressing the ambiguity and complexity of these issues. (shrink)

This paper offers a critical overview of the newly proposed Corporate Sustainability Due Diligence Directive by the European Commission. The aim is to uncover potential opportunities, challenges, gaps, and contradictions, within the directive. We provide insights on how companies can effectively navigate through these issues and leverage upon the directive for more environmentally friendly and ethically sound operations within the global value chain. Ultimately, our aim is to offer researchers, managers, and policymakers a viewpoint on the potential impacts (...) of the new directive on organizations and provide future research directions around responsible corporate conduct across global value chains. (shrink)

Environmental, social and ethical issues have become increasingly important for businesses due to changed customer expectations, more regulation and stakeholder pressure, amongst others. This led to the development of concepts such as sustainability management, corporate social responsibility, stakeholder management and business ethics. Though mostly developed in isolation, scholars have increasingly worked on their integration. This editorial sheds light on overlaps between these concepts. We find that sustainability management and CSR have become more integrated and are increasingly (...) grounded in an “embedded view“ in which business and society is part of the natural environment. In contrast, business ethics has not been integrated to the same extent, expect for the subfield of environmental ethics. After this general overview, we introduce the individual contributions to the special issue which are advancing the conceptual and empirical foundation of sustainability management, CSR, and business ethics. (shrink)

This paper aims to examine the credibility value of sustainability assurance and the type of assurance provider on cost of capital. A large sample of international companies from the period 2007–2014 was used to develop our models of analysis. We find a greater decrease in cost of capital for companies that publish and assure their social and environmental reports. Thus, voluntary sustainability disclosures decrease the cost of capital. However, companies also have the opportunity to reinforce this decrease by (...) providing an assurance statement, so increasing the credibility of corporate social responsibility information. In addition, the decrease in the cost of capital is significantly higher when such assurance is provided by a top-tier accountancy firm instead of by engineering or consultancy firms; this result supports also the reputational capital of accountancy firms. (shrink)

Trade-offs between the conflicting aspects of corporate sustainability have hindered the realization of win–win opportunities that advance both sustainable development and the bottom line. The question today is no longer whether these trade-offs are encountered in the pursuit of CS, but under which circumstances they occur, with which responses, and how best to navigate them. This study conducted a systematic review and content analysis of the trade-off literature published to-date at both conceptual and applied levels. Through this process, (...) a hierarchical framework is proposed for the analysis of trade-offs based on their different categories, their root tensions, their interconnections, and where they are encountered in the practice of CS, from policy to implementation. Based on this, a number of recommendations are provided on how managers may better navigate the hierarchy of trade-off decision-making, to ultimately transform trade-offs into synergies. Several suggestions for future trade-off research are also provided. (shrink)

This paper examines how progress on gender equality in the field of corporate social responsibility (CSR) might contribute to broader EU gender and sustainability objectives. It focuses on corporations and citizenship, and on company stakeholder relations (SR) in particular. While the literature on SR has previously engaged with scholarship on feminist ethics, and in particular the ‘ethics of care’, this paper draws upon the feminist citizenship and feminist ethics literature, and upon gender mainstreaming strategy to suggest a (...) more comprehensive approach to gender equality within SR. The aim is to extend our understanding of CSR as a potential policy instrument to advance gender equality. (shrink)

The world is faced with unprecedented global economic, environmental, and social challenges. Sustainable development has emerged as an organizing principle for addressing these issues. Corporate social responsibility is seen as the business contribution to sustainable development. The article defines CSR as an organization's efforts to secure resources and legitimacy for survival or competitive advantage by managing nonmarket and nonregulated issues arising from complex social and environmental problems. Supporting this definition, the “sustainability issue management” model is presented to (...) help managers and researchers assess and manage CSR issues. Based on ecological economics, the tool originated from a larger study. The model is used to explain and discuss how the UK Government's National Indicator 185 shaped the action of a supplier to Local Authorities. The case illustrates how the SIM model can help both managers and researchers understand and manage CSR issues. (shrink)

The study examines the effect of corporate social responsibility (CSR) culture on the relationship between CSR strategy–sustainability linkages, ethics and the CSR outcomes in public sector organizations in India. Using a sample of 200 lower-, middle- and upper-level CSR managers, a mediation model by Baron and Kenny was outlined and tested. Results demonstrate that CSR strategy–sustainability linkages and ethics have a positive relationship with CSR culture and CSR outcomes. Further, CSR culture has a positive relationship with (...) the CSR outcomes of employees’ CSR perceptions and competence. While CSR culture fitfully mediated the relationship between ethics and competence, partial mediation was found in all other cases. Thus, the adoption of strategic and sustainable CSR not only leads to desirable CSR outcomes but is also associated with a better fit between CSR and culture. Hence, strategic and sustainable CSR and organizational ethics must facilitate greater congruence between CSR and organizational culture. (shrink)

The purpose of this study is to explore the extent and nature of sustainability disclosure practices of companies from environmentally sensitive industries in India. It further investigates the influence of potential determinants on sustainability information disclosure of the companies. The study analyzed the data of 57 energy and mining companies included in NIFTY500 index at National Stock Exchange of India (NSE) for the period 2016 to 2019. In the present study, environment, social, and governance (ESG) parameters were considered (...) to measure the corporate sustainability disclosure practices. Panel data analysis was conducted to investigate the impact of possible determinants on sustainability reporting. The results indicate that variables, such as firm size, market capitalization, and a standalone sustainability reporting, are positively associated with the sustainability information disclosure of companies. The finding also suggests that policymakers should promote a standalone sustainability reporting based on Global Reporting Initiative (GRI) standards and also broaden the existing scope of business responsibility reporting in India. Overall findings should help the policymakers and regulators to assess and advance the disclosure reforms to improve sustainability reporting in India. (shrink)

The first edition of A Better World, Inc. showed how companies can profit by solving global problems. Increasingly, companies and investors are capitalizing on these opportunities. The three factors necessary for success were revealed to be effective corporate governance, stakeholder engagement, and collaboration. Racial equity and justice, and gender equity, were also themes in the original edition. By drawing on new research and case studies, this updated edition shows that inclusion and sustainability are in fact fundamental prerequisites for (...) prosperity for companies and society. Specifically, racial inequity and injustice, and gender inequity, are systemic problems that impede businesses from achieving their greater potential in the global marketplace; in the meantime, society suffers as well. The second edition of A Better World, Inc. builds on the first by showing that companies have the power and incentives – and their boards of directors have the responsibility and the authority – to drive solutions to social, economic, and environmental challenges. Readers will learn how companies and their boards, together with nonprofits and governments, can drive prosperity by centering equity and sustainability. This edition is organized to address environmental, social, and governance practices, which are priority interests for investors, media, the public, government, and others to assess company practices and profitability. (shrink)

This study examines how the leading beverage company handles the strategic paradox between its core business and the social issue of obesity. A discursive analysis reveals how the organization does embrace a social goal related to obesity but not the paradoxical tension between this goal and its core business. The analysis further shows how the tension, along with the responsibility for the social goal, is projected outside the organization. This response is underpinned by the paradoxical constructions of consumers and (...) the concept of obesity in the organization’s communication. Based on these findings, I outline a new type of process for projection, one of the defensive mechanisms recognized in the literature. The findings increase our understanding of defensive responses to organizational paradoxes and help distinguish between different kinds of strategic paradoxes. They also highlight the need to further open up the complexity and multiplicity of strategic paradoxes related to corporate sustainability. (shrink)