Weekend CSR Wrap Up
This weekâs stories that touch on a number of issues at the heart of corporate social responsibility right now.Â Have a great weekend!
Some sensible new proposals for curbing corporate greed
-This approach will infuriate pitchfork populists, who were hoping the Obama administration would impose a regulatory straitjacket on corporate pay after an outcry earlier this year over hefty bonuses dished out at firms rescued with taxpayersâ cash. But Mr Geithner warned that such an approach would ultimately be âcounterproductiveâ. In practice only firms that have been bailed out will face stiff restrictions on bonuses and other forms of pay. Some will have to submit senior managersâ compensation for review by a new, government-appointed âspecial masterâ.-
Listen to some of the Harvard MBAs behind the MBA Oath share their thoughts on the endeavor.
Social enterprise â the fledgling fourth sector
-Although experiencing a huge upsurge in interest and visibility globally, social enterprise is still in its nascent stages. Today it can be characterised as a fragmented sector filled with many small-scale enterprises struggling with scale. Growth and scalability are important concerns for all businesses but maybe more so for social enterprise, in that the scope of the social problem(s) it is trying to solve is so large.-
Focus on image excises a fondness for tax havens
-More generally, corporate attitudes to tax have shifted in line with broader business trends. Until the 1990s, companies saw paying taxes as part of their "general responsibility to society". But that changed, says Prof Avi-Yonah, as "shareholder profit maximisation the sole legitimate goal of corporate activity".-
Greed Layered on Greed, Frosted With Recklessness
-In short the current global financial crisis is a story about people who thought they were the smartest guys in the room and who turned out to be remarkably naÃ¯ve, reckless or, in some cases, downright stupid. Itâs a story - novelistic in its narrative and moral arc - about hubris and greed and heedlessness, about people, as Fitzgerald wrote in âThe Great Gatsby,â who âsmashed up things and creatures and then retreated back into their money or their vast carelessnessâ and âlet other people clean up the mess they had made.â-