- The worker is an important stakeholder in the conduction of business. They must have a voice, considering that they bear a part of the risk of failed investment. CSR can only be implemented if it is built on the foundation of existing legislation and guidelines of ILO and OECD. Regulation must be simple, and deal with specific issues, e.g. collective bargaining.
- Microsoft’s role in society is played out along three pillars in its corporate citizenship mission; cooperation with NGOs to help and empower the poor and disabled, the inducement of productivity through ICT and by creating better access to technology. No need to over regulate – let’s make sure the right values are installed in the organisation. We can learn a lot from the NGOs. One of the parameters in the Microsoft manager bonus system is corporate citizenship.
- A credible CSR debate is a pre-condition for NGO involvement. There are examples of very successful and effective cooperation between NGOs and multinational corporations, yet fractions of the NGO community are highly sceptical towards MNCs and would rather work to gain influence at the political level. We need a EU framework for standards, reporting and auditing, based on existing tools.
- How do externalities fit into the notion of ‘the business of business is business’?
- The company needs to make sure that everyone touched by the company is better off. No contract can be comprehensive enough to deal with all externalities.
- The concept of the embedded firm, i.e. the recognition of the social context of the firm, is nothing new. The term has been used in organisational theory for years.
- There is no need for developing a new paradigm. Rather it is a matter of going back to the old one and to perceive the corporation as a large modern citizen in a complex world.
Business has been made worse, not better by moving into the 2nd mode.
- In Unilever’s experience activities in developing nations requires a high degree of local involvement. They find that when they engage substantially, local people will protect them.
- What is the situation with the financial community?
- Involvement is quite fragmented. It is not the large pension funds, which are involved. It’s the smaller actors that see a niche market opportunity.
- Socially responsible investment remains tiny. One of the strengths of European companies is the integration of responsibility throughout the organisation, as opposed to the concept of ‘the responsible CEO’, which is most prevalent in the US and UK. In Europe we need to argue for our model.
- The role of business schools
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