Corporate Social Responsibility

Corporate Social Responsibility

DOI: 10.4018/978-1-5225-7362-3.ch020
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In Asia, societies have a long history of cultural and religious giving. The idea of businesses giving back to the communities in which they operate is also age old. In many of the countries studied, an alternative discourse encompassing culture, traditional values, and politics provides a socio-economic context and a national backdrop for CSR action. Based on 10 country studies, key elements that define the practice of CSR in Asian companies are cultural influences, classical philanthropy, state capacity, participation in global supply chains, and home-grown corporate misdemeanors. Culture matters to how societies approach CSR. There are important cultural influences on ideas of obligation and responsibility that are significant in the Asian context, and this is where the Asian discourse on CSR diverges from that in the West.
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The days when corporate social responsibility (CSR) was a concept and practice confined to North American and European companies are over. Particularly in the past ten years or so, Asian businesses have increasingly brought to bear their considerable energy and thought to matters of regional and global concern. From climate change and other sustainability questions to product safety and global labor standards, Asian business leaders have an opportunity to shape the international response to some of the broad issues facing global society. Not only will Asian business leaders who embrace corporate social responsibility offer their own distinctive approach, but their participation in sweeping worldwide matters can have far-reaching and beneficial impact for all.

Key Terms in this Chapter

Stakeholder Relations: It is about improving your professional relationships - or lack of them - with governments, regulators, membership, industry, media or communities.

Stakeholders: Are those individuals, organizations who ‘hold’ a ‘stake’ in your organization’s interests.

Multinational Corporation [(MNCs) or Multinational Enterprise]: It is an organization, that owns or controls productions of goods or services in one or more countries other than the home country.

Government Linked Corporations (GLCs): A term that is related to Asian businesses where companies in which some of the shares are owned by the government.

Local Private Companies (Privately Held Company or Close Corporation): It is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock (shares) to the general public on the stock market exchanges, but rather the company's stock is offered, owned and traded or exchanged privately.

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