Corporate Social Responsibility: An Issues Paper

Abstract

Corporate Social Responsibility (CSR) has been an increasingly important issue for private and non-government businesses to consider when investing in countries. The paper specifically addresses transnational corporations and how they can negatively affect the development of countries when socially irresponsible and notes the increasing consumer awareness of corporate irresponsibility. It argues that better relationships between governments and corporations need to be established to reduce low living standards, exploitation, poverty, and unemployment, which would contribute to overall sustainable development. The paper recommends having CSR indicators for measurement, addresses why CSR should matter to business corporations, and gives insight into how the ILO can act and relate to CSR.

This paper was written as an insight into the work of the World Commission on the Social Dimension of Globalization 2004 that aims to provide a fairer globalization for all.

Keywords: corporate social responsibility, issues, CSR

JEL Classification: M14