Journal Article

Corporate Social Responsibilities: Alternative Perspectives About the Need to Legislate

Shelly, Marita, Deegan, Craig

2014

Overview

This research involves a review of the submissions to a 2005/06 Australian Government Inquiry into Corporate Social Responsibility. The Inquiry was established to investigate whether corporate social responsibilities and accountabilities should be regulated, or left to be determined by market forces. Our results show that the business community overwhelming favour an anti-regulation approach whereby corporations should be left with the flexibility to determine their social responsibilities and associated accountabilities and 'enlightened self-interest' should be retained as the guiding mechanism for social responsibility initiatives. In stark contrast, the submissions from social and environmental organisations and individuals provided counter-arguments in favour of a pro-regulation view. Ultimately Government embraced the 'free market perspective' promoted by the business community and decided against the introduction of national legislation pertaining to corporate social responsibilities.

• Publisher: Springer,Springer Netherlands,Springer Nature B.V
• Subject: Accountability / Accounting / Analysis / Business / Business and Management / Business communication / Business communities / Business community / Business Ethics / Business structures / Climate change / Committees / Communities / Community associations / Corporate responsibility / Corporate social responsibility / Corporations / Ecological sustainability / Education / Environmental groups / Environmental impact / Environmental organizations / Ethics / Free markets / Government / Green businesses / Legislation / Management / Market forces / Markets / Philosophy / Quality of Life Research / Regulation / Reporting requirements / Self interest / Shareholders / Social responsibility / Social responsibility of business / Stockholders / Studies / Sustainable development