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Corporate Social Responsibility: Three Key Approaches

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  • Duane Windsor

Abstract

abstract Corporate social responsibility remains an embryonic and contestable concept. This paper assesses three key approaches and offers a perspective gauging little prospect of theoretical synthesis. Ethical responsibility theory advocates strong corporate self‐restraint and altruism duties and expansive public policy strengthening stakeholder rights. Economic responsibility theory advocates market wealth creation subject only to minimalist public policy and perhaps customary business ethics. These two viewpoints embed competing moral frameworks and political philosophies. Any theoretical synthesis must discover some subset of ethical principles yielding corporate competitive advantage. Corporate citizenship language invokes a political metaphor providing neither true intermediate positioning nor theoretical synthesis. Two conflicting interpretations abandon responsibility language without adopting the economic viewpoint. An instrumental citizenship interpretation expands philanthropy as a strategic lever for increasing corporate reputation and market opportunities while retaining managerial discretion. An ideal citizenship interpretation restates ethical responsibility into voluntarism language intended to influence managerial discretion concerning universal human rights.

Suggested Citation

  • Duane Windsor, 2006. "Corporate Social Responsibility: Three Key Approaches," Journal of Management Studies, Wiley Blackwell, vol. 43(1), pages 93-114, January.
    • Handle: RePEc:bla:jomstd:v:43:y:2006:i:1:p:93-114
    DOI: 10.1111/j.1467-6486.2006.00584.x
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    References listed on IDEAS

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    1. Victor Fuchs & Alan Krueger & James Poterba, 1997. "Why Do Economists Disagree About Policy? The Roles of Beliefs About Parameters and Values," Working Papers 768, Princeton University, Department of Economics, Industrial Relations Section..
    2. Victor R. Fuchs & Alan B. Krueger & James M. Poterba, 1997. "Why do Economists Disagree About Policy?," NBER Working Papers 6151, National Bureau of Economic Research, Inc.
    3. Victor R. Fuchs & Alan B. Krueger & James M. Poterba, 1997. "Why Do Economists Disagree About Policy? The Roles of Beliefs About Parameters and Values," Working Papers 768, Princeton University, Department of Economics, Industrial Relations Section..
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