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Norms Advanced in the Csr Debate

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Chapter Summary

This chapter identifies three levels on which corporate social responsibility (CSR) arguments develop. The three levels are the following: (1) the role of the large business in society; (2) the duties of management; and (3) the norm managers should use to approach complexity. Milton Friedman is concerned that acceptance of CSR, and the managerial discretion it entails, is the first step on a slippery slope. If the private tax raising that CSR is deemed to be is allowed then for the sake of ensuring accountability and the supremacy of democratic state institutions the political machinery should check such tax raising. In stakeholder theories, shareholders lose their central position in the economy of the firm. They are just one among many stakeholders whose interests management must consider and balance. The stakeholder norm roughly proposes that managers need to identify the stakeholders and then balance their interests.

Keywords:corporate social responsibility (CSR); Milton Friedman; stakeholder norm



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