Key models for delivering sector‐level corporate responsibility

Abstract

Purpose

The purpose of this paper is to provide a blueprint for an optimal model of sectoral corporate responsibility (CR), through exploring a variety of current approaches. The necessity for a more sector‐wide approach is discussed and the best way to make it happen identified.

Design/methodology/approach

An exploration of the models for industry‐wide CR, based on practical experience and case study evidence. The approaches are critically appraised and developed into an overarching model for sector change. The paper answers five key questions: why is sector corporate responsibility important; how does this relate to competitiveness; what are the five existing models for sector change; what are their advantages and disadvantages and what does this teach us about the approach to take?

Findings

There are five established models for sector‐level corporate responsibility, each has pros and cons and each contributes to company and/or sector competitiveness and performance. The optimal model for sector change combines two or three models and that's where competitiveness gains really lie. Ideally all sectors would have a clear vision of the shift that they need to make. This vision would then drive leadership, some specific market‐based action and potentially form the basis for some smart regulation. Finally, education on CR would ensure embedding of a responsible approach into the future.

Practical implications

This viewpoint delivers a very useful model for industry groups to take a more meso‐level approach to corporate responsibility or address particular challenges that an industry faces.

Originality/value

More and more industries are facing clear social and environmental risks and opportunities. This paper provides an important model for them to address them effectively. It is based on the author's knowledge and experience and as such is an original piece of work.

Citation

Draper, S. (2006), "Key models for delivering sector‐level corporate responsibility", Corporate Governance, Vol. 6 No. 4, pp. 409-419. https://doi.org/10.1108/14720700610689522