Topic 1 A New Corporate Philosophy

Past

Organizations were only interested in:

  • short-term profitability
  • operating for a general nonspecific purpose

Their vision was based solely in quantitative perspectives: 

  • maximizing the shareholder wealth
  • without taking into consideration the other stakeholders of the organisation, like employees, suppliers, and society at large.

Present and Future  

Organizations are striving to identify tools and techniques that will enable them not only to survive but to gain competitive advantage as well.

In recent years, the impact of corporations upon our world has become undeniable. Citizens nowadays demand a responsible business behavior from all kinds of orga­nizations (for-profit and not-for-profit), corporations and their leaders, who have become aware of the crucial role of social responsibility in seeking performance excellence and sustainable growth.

CSR has never been more important.

Source: Gatheringbooks

The last decades witnessed a vigorous debate over the role of corporations in society.

Interest in CSR became intense as shareholders, consumers, activists, governments, and society in general called for higher standards of business.

Ιt became clear that CSR is not a “niceto-do” thing. It is a must-do” thing.

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