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To what extent do companies benefit - Essay Example
Author : laurianepurdy
Pages 8 (2008 words)
Corporate social responsibility as an area of scientific inquiry has received little attention in the popular and academic press during the last decade. Efforts to investigate social responsibility and its relationship to corporate performance have been frustrated by a lack of adequate operationalizations and measures of social responsibility…
Such actions suggest that corporations will increasingly be held accountable for activity of concern to multiple stakeholder groups. As a result there will likely be a renewed interest in identifying the dimensions and consequences of corporate social responsibilities.
Cameron has suggested that multiple perspectives of organizational effectiveness exist and that "consensus regarding the best, or sufficient, set of indicators of effectiveness is impossible to obtain" (1986: 541). The same arguments can be made regarding social performance as a specific aspect of overall corporate performance. Social responsibility continues to be a poorly defined as well as difficult to measure concept. There appears to be no real agreement as to what constitutes social performance. What is indicated, however, is the need to apply measures which address multiple criteria of social performance. This study attempts to specify the underlying dimensions of a multiple measure of corporate social responsibility and investigate the relationship between corporate social performance and multiple measures of financial performance. For the purposes of this study, corporate social performance represents a measure of a firm's attentiveness to multiple stakeholder groups. ...