ABSTRACT
Good corporate social responsibility (CSR) implies socially responsible restructuring, especially as changes in employment during periods of recession are necessary attributes of today's world. Experience has shown that socially responsible restructuring is not only possible, but that it also makes good business sense. This chapter explores a number of related issues, beginning with several paradoxes. The issue of corporate social and environmental responsibility remains perplexing to many who continue to be convinced that the business of business is to increase profits. The chapter considers restructuring as the deliberate modification of formal relationships among organizational components. Many corporations have enhanced shareholder value through restructuring their capital, ownership or assets. Three common techniques are spin-offs, equity carve-outs and leveraged buy-outs. Revitalization and growth strategies have many advantages over time-worn practices of cost cutting and downsizing. All stakeholders benefit from this more responsible approach.
