CSR Motivations
CSR
Motivations behind Corporate Social Responsibility
Organizations embark on social and environmental reporting for a variety of different reasons and not to simply improve credibility with stakeholders; although that is a primary reason in many organizations. However, other organizations have different objectives altogether that can include a range of different motivations. Some models have broken the range of motivations into signaling or greenwashing or used legitimacy theory to explain the motivations by firms to report on their social and environmental performances. This analysis will look at some of the different models that have been constructed to attempt to explain why firms utilize CSR frameworks.
Discussion
The popularity of CSR has grown substantially in the last couple of decades. Many people may have grown skeptical of business in the wake of corporate scandals such as Enron, Tyco, and WorldCom followed by the sub-prime mortgage market which have all gained large amounts of negative publicity. Stakeholders are more aware of the performance of companies along a broader set of metrics that portray the company's operations in a more comprehensive manner that provides information about social performances and environmental performances. Much of the concept of corporate sustainability is rooted in the notion of sustainable development with can be defined as the ability to meet the needs of the current population without compromising the ability of future generations to meet their own needs as well (Searcy & Buslovich, 2014).
Much of the business world has also been viewed as an enemy of the environment. Many firms have tried to promote their positive environmental practices in their reporting while often leaving out the negative aspect which has become known as greenwashing (Lyon & Maxwell, 2011). Greenwashing has been defined as the "act of misleading consumers regarding the environmental practices of a company or the environmental benefits of a product or service" (Tsai, 2010). They will try to skew CSR reporting to attempt to portray the firm in a positive light rather than accurately reporting the firm's collective performance on environmental impacts from business activities.
As a result of greenwashing many firms of the subject of activist attention to point out the discrepancies between the actual firm performance and the published CSR statements. In turn this...
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