When principles pay : corporate social responsibility and the bottom line / Geoffrey Heal.

Format:

Book

Author/Creator:

Heal, G. M.

Series:

Columbia Business School Publishing

Language:

English

Subjects (All):

Social responsibility of business--Economic aspects.

Social responsibility of business.

Profit--Moral and ethical aspects.

Profit.

Industrial management--Social aspects.

Industrial management.

Social justice.

Business ethics--Case studies.

Business ethics.

Physical Description:

1 online resource (289 p.)

Other Title:

Corporate social responsibility and the bottom line

Place of Publication:

New York : Columbia Business School Pub., c2008.

Language Note:

English

Summary:

Stories of predatory lending practices and the reckless destruction of the environment by greedy corporations dominate the news, suggesting that, in business, ethics and profit are incompatible pursuits. Yet some of the worst lenders are now bankrupt, and Toyota has enjoyed phenomenal success by positioning itself as the green car company par excellence. These trends suggest that antisocial corporate behavior has its costs, especially in terms of the stock market, which penalizes companies that have poor environmental track records and rewards more socially conscious brands.The political context of our economy is rapidly changing, particularly in regard to incentives that operate outside the marketplace in a strict and narrow sense and involve interactions between corporations and nongovernmental organizations (NGOs), activist groups, regulatory bodies, consumers, and civil society. These interactions can significantly color a corporation's alternatives, making socially or environmentally harmful behavior much less attractive. British Petroleum, for example, has voluntarily reduced its greenhouse gas emissions over the past ten years, Starbucks, has changed the environmental impact of its coffee production, and Nike and other footwear and textile makers now monitor the labor conditions of their subcontractors.When Principles Pay jumps headfirst into this engaging and vital issue, asking whether profit maximization and the generation of value for shareholders is compatible with policies that support social and environmental goals. Geoffrey Heal presents a comprehensive examination of how social and environmental performance affects a corporation's profitability and how the stock market reacts to a firm's social and environmental behavior. He looks at socially responsible investment (SRI), reviewing the evolution of the SRI industry and the quality of its returns. He also draws on studies conducted in a wide range of industries, from financials and pharmaceuticals to Wal-Mart and Monsanto, and focuses on the actions of corporations in poor countries. In conclusion, Heal analyzes how social and environmental performance fits into accounting and corporate strategy, presenting an executive perspective on the best way to develop and implement these aspects of a corporation's behavior.

Contents:

Frontmatter

Contents

Preface

1. Introduction

2. Social, Environmental, and Financial Performance

3. Socially Responsible Investment

4. Financial Institutions and Social and Environmental Performance

5. Pharmaceuticals and Corporate Responsibility

6. Wal-Mart and Starbucks

7. Interface and Monsanto

8. Outsourcing

9. Getting Rich by Selling to the Poor

10. Cell Phones and Development

11. Measuring Corporate Responsibility

12. Social and Environmental Policies and Corporate Strategy

13. Conclusions

Notes

Index

Notes:

Description based upon print version of record.

Includes bibliographical references (p. [247]-262) and index.

ISBN:

9780231512930

0231512937

OCLC:

818856183