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The concerns around CSR are mainly about to the real motives of companies for adopting it. While CSR can improve a company's image, build trusting relationships with its customers and the community, many critics argue that the CSR efforts are mere marketing strategies distract customers and legislators from the true negative impacts of their main activities on society and the environment and the need of tight regulation. Philanthropy sponsorships are the main CSR approaches used by the oil, tobacco and alcohol companies to heal their reputation and contrast the increasingly strict regulations in their industries.
One clear example of misleading and hypocritical CSR is greenwashing, the use of misleading sustainability and environmental claims used to distract the public from the environmental damages of corporate operations.
Greenwashing has been widely used in the 90s by oil and petrochemicals industries when the public started becoming more aware and critical of their activities, following researches in the field of pollution and climate change and many incidents that permeated the news for weeks with shocking images.
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One recent incident was the BP offshore oil platform explosion in Louisiana in 2010, considered by many researchers the worst oil spilling in history.
Research also shows that when companies involved in CSR are convicted of corporate crimes they receive laxer fines and are in general abler to lobby favourable regulations. In recent years, however, their political influence achieved through CSR has declined. In response to bad business practices, hypocritical CSR and an ever-increasing wealth inequality the public has increasingly demanded tougher regulations on big corporations — often supporting breaking up monopolies — stronger antitrust overseeing and higher taxation.
To reinstate trust in corporations and in capitalism itself it's clear that traditional CSR approaches aren't enough anymore. Companies, as stated before, should refocus their business model and mission on creating not just economic value but also tangible social and economic benefits for their surrounding clusters.
Corporate Social Responsibility Strategies. (2020, Apr 28). Retrieved from https://studymoose.com/corporate-social-responsibility-strategies-essay
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