Why There Is a Case for Corporate Social Responsibility, Despite WSJ's Obituary - A blog by Aman Singh
Why There Is a Case for Corporate Social Responsibility, Despite WSJ's Obituary
The cover essay in The Wall Street Journal's special Executive Advisor report yesterday attacks advocates of corporate social responsibility, calling the belief that "businesses have a responsibility to act in the public interest and will profit from doing so" ineffective and flawed.
Aneel Karnani, an associate professor of strategy with University of Michigan's Stephen M. Ross School of Business—ironically the venue for the 2011 Net Impact Conference, where I am headed in October as a speaker on Diversity as a Strategic Advantage--brings up several issues in his op-ed, some that rankle, and others that well underline today's complex market.
To get some perspective on how Karnani's claims have been received, I reached out to many of my contacts in the CSR community, largely through social media. Everyone who responded has a distinct stake in Karnani's article: they are professionals committed to furthering corporate responsibility, and while they view the debate from a variety of standpoints, there is unanimous agreement that business strategies must evoke sustainable practices for continued growth—whether we call it CSR or not.
