2. In no more than 2 pages you should review the most important current academic thinking in the area (The need for the business to be a socially responsible entity).
Corporate governance and corporate social responsibility: Lessons from the land of OZ
Notes from article:
* A growing proportion of citizens have more awareness of economic, environmental, political and social ills throughout the world because of twenty first century technology.
* This means people are aware of actions and inactions of corporations who directly influence the lives of human beings beyond their own employees.
* These massive corporations with their wealth and organisational capacity can alter society
* “Well researched, documented evidence of the negative impact of corporations’ conduct on human lives has given legitimacy to the call for CSR.”
* World Business Council for Sustainable Development’s. (2007). CSR annual report. Brussels: WBCSD. Zadkovich, J. (2007). Mandatory requirements, voluntary rules and ‘‘please explain’’: A corporate governance quagmire. Deakin Law Review, 12(2), 23–39.
* Csr will be ignored where the sole purpose is financial success and returns to share holders.
* Have the basic rules of society expanded to include CSR
* National business leaders forum on sustainable development – key speaker K Rudd, demonstrating the increased interest and recognition that sustainability is gaining.
* CRI – Corporate Responsibility Index funded by the Australian Federal Government – report on community, workplace, marketplace, and environment.
* Corporate law economic reform program (Audit reform and corporate disclosure) bill 2003 became a law on 1st july 2004 “many board members felt that legislation is unlikely to stop corporate greed, unethical behaviour and avoidance of social responsibility.