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Making Globalization GoodThe Moral Challenges of Global Capitalism$
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John Dunning

Print publication date: 2003

Print ISBN-13: 9780199257010

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199257019.001.0001

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The Business Community: Social Responsibility and Corporate Values

The Business Community: Social Responsibility and Corporate Values

Chapter:
(p.301) 13 The Business Community: Social Responsibility and Corporate Values
Source:
Making Globalization Good
Author(s):

Robert Davies

Publisher:
Oxford University Press
DOI:10.1093/0199257019.003.0014

This chapter looks at the ethical ingredients, strategies, and conduct of business institutions. This is an important subject, as a great deal of criticism has been, and is being, levelled against the social responsibilities and moral conduct of large enterprises (particularly multinational enterprises, MNEs); some of this, as Robert Davies acknowledges, is justified in respect of some firms, while some is not. This chapter attempts to set the record straight by acknowledging that MNEs do have a responsibility to all their stakeholders and to the community at large, and at the end of the day, judicial or ’proper’ selfishness pays off. He also addresses the social‐cum‐altruistic role of businesses and the business community, and gives several examples of recent businesses, both in the USA and the UK, which by their actions portray the unacceptable face of global capitalism. This is an open‐minded look at the demands being made on the business community by the various stakeholders in global capitalism, and acknowledges that business leaders need to play a more proactive and progressive role in fashioning corporate values and social responsibility, and upgrading these from the realm of business philanthropy.

Keywords:   business, business community, companies, conduct, corporate values, ethics, firms, multinational enterprises, philanthropy, responsibility, social responsibility, stakeholders, strategies, values

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