Global Business Strategy, 2nd Edition

CHAPTER 4

The Globalization of Corporate Social Responsibility

Introduction

Whether it is called corporate social responsibility (CSR), environmental, social and corporate governance (ESG) or sustainability, a common understanding is emerging worldwide: a company’s long-term financial success is increasingly tied to its social responsibility record, environmental stewardship, and corporate ethics.

As business has become global, so has the idea and practice of corporate responsibility.

Importantly, several trends indicate that corporate sustainability is here to stay:

1. Transparency. Transparency is hard to reverse: demands for reporting and disclosure will continue to grow, driven by improved information access, higher public interest, and ...