ABSTRACT
I t is impossible to exaggerate the significance of the contemporary claim that there is a business case for corporate responsibility, business ethics, corporate citizenship, environmental stewardship, pollution control, sustainable development, and the like. To be sure, improving the bottom
line is not the only possible reason for CSR. Many executives genuinely care about conducting their businesses in ways that are more environmentally sustainable, that respect human rights, and that foster economic development. Self-regulation can also reduce the likelihood of more government regulation or place a firm in a better competitive position if and when new regulations emerge. Some of the benefits of CSR to a firm, such as higher employee morale or a better reputation, never appear on a balance sheet. For profitable firms, CSR can represent a civic-minded allocation of discretionary resources. But while profitability may not be the only reason corporations will or should behave virtuously, it has become the must influential.
