Nowadays everyone agrees that CSR(corporate social responsibility) needs to be integrated in the business strategies of companies, but the definition of CSR isn’t the same in every country. CSR is mainly determined by traditions and priorities and this makes it impossible for global companies to use a one-size-fits all approach. The things that we find important can be considered less important in other countries. For example: emerging markets such as China will consider growth more important than human rights. This can lead to a competitive disadvantage for Western countries where NGOs force companies to respect the human rights. Nevertheless, foreign NGOs can also influence the business strategy of these Chinese companies by damaging their global brand reputation. The same can be said for foreign investors and global companies. They also have the power to force emerging markets to spend less effort on growth and more on CSR. But growth stays needed, because without the companies there will be no need for CSR.(The Economist)
As said in Evelyn’s article most people believe that integration of CSR in the business strategies of companies is needed, but this article shows that integration of CSR isn’t easy. It shows how difficult it is to create global laws that can control the ethics policy of global companies. It also shows that companies need to search for a balance between ethics and profit. Without profit the company won’t survive and without company there’s need for CSR.
Cedric Meyers
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