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Open Access
Article
Publication date: 15 May 2020

Vojko Potočan, Matjaž Mulej and Zlatko Nedelko

The purpose of this paper is to report about research how Society 5.0 balances Industry 4.0, responsible economic development and resolution of social problems by advancement of…

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Abstract

Purpose

The purpose of this paper is to report about research how Society 5.0 balances Industry 4.0, responsible economic development and resolution of social problems by advancement of corporate social responsibility (CSR) in organizations.

Design/methodology/approach

Drawing from organization, sustainable development and social functionalism theories, the authors designed an integral model of CSR in line with goals of a forward-looking and socially responsible society. This study includes analyzing of present governing principles, multidisciplinary and multifunctional consideration and developing of integral framework for CSR in organizations.

Findings

This study’s findings suggest incorporation of technology in models of CSR, a regionally grounded solving of individuals’ social problems and changing of CSR’s environmental, social and economic dimensions according to circumstances of Society 5.0.

Practical implications

This study has created guidance for improvement of CSR practice in organizations through its responsible operating and behavior grounded on the governing environmental and social circumstances in modern society. It also revealed new possibilities for interest-based usage of human-centered society among individuals and organizations.

Originality/value

The reported study proposed an integral model of CSR for solving the main social problems with usage of advanced technologies in responsible economic growth founded on circumstances of Society 5.0, previously not considered in literature.

Abstract

Details

Responsible Investment Around the World: Finance after the Great Reset
Type: Book
ISBN: 978-1-80382-851-0

Book part
Publication date: 30 March 2017

Julia M. Puaschunder

The 2008/2009 World Financial Crisis underlined the importance of social responsibility for the sustainable functioning of economic markets. Heralding an age of novel heterodox…

Abstract

The 2008/2009 World Financial Crisis underlined the importance of social responsibility for the sustainable functioning of economic markets. Heralding an age of novel heterodox economic thinking, the call for integrating social facets into mainstream economic models has reached unprecedented momentum. Financial Social Responsibility bridges the finance world with society in socially conscientious investments. Socially Responsible Investment (SRI) integrates corporate social responsibility in investment choices. In the aftermath of the 2008/2009 World Financial Crisis, SRI is an idea whose time has come. Socially conscientious asset allocation styles add to expected yield and volatility of securities social, environmental, and institutional considerations. In screenings, shareholder advocacy, community investing, social venture capital funding and political divestiture, socially conscientious investors hone their interest to align financial profit maximization strategies with social concerns. In a long history of classic finance theory having blacked out moral and ethical considerations of investment decision making, our knowledge of socio-economic motives for SRI is limited. Apart from economic profitability calculus and strategic leadership advantages, this paper sheds light on socio-psychological motives underlying SRI. Altruism, need for innovation and entrepreneurial zest alongside utility derived from social status enhancement prospects and transparency may steer investors’ social conscientiousness. Self-enhancement and social expression of future-oriented SRI options may supplement profit maximization goals. Theoretically introducing potential SRI motives serves as a first step toward an empirical validation of Financial Social Responsibility to improve the interplay of financial markets and the real economy. The pursuit of crisis-robust and sustainable financial markets through strengthened Financial Social Responsibility targets at creating lasting societal value for this generation and the following.

Content available
Article
Publication date: 4 January 2022

Sandra G. Hamilton

This paper examines the role of government procurement as a social policy mechanism within a multilateral open trading system. Government regulations globally are being…

2686

Abstract

Purpose

This paper examines the role of government procurement as a social policy mechanism within a multilateral open trading system. Government regulations globally are being transformed to foster more responsible business conduct in multinational enterprises (MNEs). Yet, concern that sustainability may present a discriminatory barrier to trade has stalled the progress of sustainable public procurement (SPP) at the international level, raising questions regarding the role and scope of the World Trade Organisation’s (WTO) Government Procurement Agreement (GPA) to align taxpayer-funded contracts with the United Nations (UN) Sustainable Development Goals.

Design/methodology/approach

With a focus on social sustainability, this paper reviews the grey and academic literature to assess the changing landscape of public procurement policy and supply chain legislation in high-income countries.

Findings

Frontrunner nations are adopting a mandatory approach to sustainable public procurement and due diligence legislation is elevating supply chain risk from reputational damage to legal liability. While technological innovation and the clean, green production of manufactured goods dominates the sustainable public procurement literature, the social aspects of sustainability poverty, inequality and human rights remain underrepresented.

Research limitations/implications

The scope of this paper is limited to the examination of government procurement covered by the WTO-GPA (2012). Smaller value contracts, under the WTO-GPA thresholds and the category of defence are beyond the scope of the paper.

Social implications

The paper focusses on the underserved topic of social sustainability in business-to-government (B2G) – business to government – supply chains arguing that for responsible business conduct to become a competitive advantage, it must be more meaningfully rewarded on the demand-side of all taxpayer-funded contracts in organisation for economic co-operation and development countries. The paper introduces the idea of priceless procurement as a mechanism to build system capacity in the evaluation of non-financial sustainability objectives.

Originality/value

To build the capacity to stimulate competition based on social and environmental policy objectives, the paper introduces the concept of priceless procurement in B2G contracts.

Article
Publication date: 27 January 2021

Tjaša Štrukelj, Dejana Zlatanović, Jelena Nikolić and Simona Sternad Zabukovšek

The consequences of human social irresponsibility urge socially responsible reactions. The authors expose the consequences of socially irresponsible behaviour and state possible…

Abstract

Purpose

The consequences of human social irresponsibility urge socially responsible reactions. The authors expose the consequences of socially irresponsible behaviour and state possible requisitely holistic tools to eliminate organisations’ dangerous and socially irresponsible behaviour. This paper aims to examine how the viable system model (the VSM) used as a diagnostic tool can help organisations support socially responsible behaviour.

Design/methodology/approach

Given the variety of systems methodologies, the authors selected the VSM as a key methodological tool of Organizational Cybernetics. A case-study approach is used to demonstrate the power of the VSM as a diagnostic tool.

Findings

Humans need to replace recklessness and selfishness by faster re-orientation towards a socially responsible society. By following the cybernetic circle of the preparation and implementation of the management process and practising social responsibility via the VSM, organisations can conduct socially responsible business operations for a socially responsible society. Respecting the pluralist nature of social responsibility and a limited framework of the VSM, the VSM analysis needs to be supported by interpretive systems approaches, such as Strategic Assumptions Surfacing and Testing (SAST).

Research limitations/implications

The presented study’s limitation is the case study of a selected organisation from Europe. The discussion could be relevant to each organisation, which is observed as a viable system. The insights gained with this case study can be broadened by empirical research involving diverse organisations from various countries.

Practical implications

Research results indicate socially irresponsible behaviours of the researched organisation and possible ways of overcoming them. The cybernetic circle of the preparation and implementation of socially responsible management processes through the VSM offers a possible path towards more social responsibility in organisations. Moreover, the VSM should be used in combination with interpretive systems approaches, such as SAST.

Social implications

The generality of the VSM indicates that decision-makers could use the VSM for diagnosing socially irresponsible behaviour in organisations and for redesigning organisations to help develop a more socially responsible society.

Originality/value

The paper contributes to a cybernetic framework and methodological support to social responsibility. This study could serve as an essential starting point for organisations wishing to take further steps towards social responsibility.

Article
Publication date: 4 January 2013

Duffy Morf, Dale L. Flesher, Mario Hayek, Stephanie Pane and Caroline Hayek

The purpose of this paper is to analyze how social power and pressures over the past century have shifted the audience towards which organizations find themselves accountable, as…

1530

Abstract

Purpose

The purpose of this paper is to analyze how social power and pressures over the past century have shifted the audience towards which organizations find themselves accountable, as reflected in their social responsibility reporting.

Design/methodology/approach

The authors use historical analysis to analyze qualitatively the annual reports of prominent US organizations between the 1900s to the early 2000s. Adopting an integrationist perspective, the authors ground their research in stakeholder theory and reviewed passages in annual reports identifying the audiences of socially responsible organizational initiatives.

Findings

The study revealed that the degree and focus of corporate accountability shifted over the course of the 1900s, and that this change was due to shifts in influence and power stemming from different stakeholders. During the early 1900s, organizations were more concerned with pleasing internal stakeholders (i.e. employees); however, economic and social events shifted this attention towards external stakeholder groups (i.e. the environment) during the latter part of the century. More recent events fueled social pressures, resulting in legislation and social reporting guidelines during the first decade of the twenty‐first century.

Practical implications

Organizations will continue to be held accountable as new stakeholder groups emerge and different social movements and economic changes transpire, exerting more pressure on organizations to be socially responsible. Furthermore, organizations need to remain current on social reporting guidelines, as these increasingly become the means of communication with multiple stakeholder groups. In summary, findings suggest that organizations would benefit by staying abreast of economic and social cues when developing their socially responsible initiatives and reporting.

Originality/value

The unique contribution of this paper is to identify how economic and social events place pressure on organizations and shift organizational attention through an accountability mechanism, resulting in changes in the focus of social responsibility reporting.

Details

Journal of Management History, vol. 19 no. 1
Type: Research Article
ISSN: 1751-1348

Keywords

Article
Publication date: 26 July 2013

Fara Azmat and Ramanie Samaratunge

The purpose of this paper is to provide insights into the under‐researched area of social responsibility of small scale individual entrepreneurs (SIEs) and how that impacts on…

1215

Abstract

Purpose

The purpose of this paper is to provide insights into the under‐researched area of social responsibility of small scale individual entrepreneurs (SIEs) and how that impacts on customer loyalty at the bottom of the pyramid (BoP) in the context of South Asia.

Design/methodology/approach

Drawing from the literature, the paper expands and builds on the previous work of Azmat and Samaratunge on SIEs and develops a set of propositions that provide insights into the probable link between customer awareness, responsible business practices of SIEs and customer loyalty at the BoP level.

Findings

Findings highlight the uniqueness of SIEs, BoP customers and the contextual variables in developing countries. The authors further contribute to knowledge by developing the concept of blind customer loyalty, where SIEs are likely to experience customer loyalty regardless of being socially responsible.

Research limitations/implications

Given the limited literature on the social responsibility practices of SIEs, this paper makes a significant contribution to two different but important inter‐related discourses on SIEs and their adoption of socially responsible practices, as well as to the BoP literature.

Practical implications

The paper concludes by outlining the implications for SIEs, policy‐makers, and practitioners, advancing the agenda of social responsibility for future research in the fields of both the BoP and SIEs.

Originality/value

Given their unique characteristics and realities, SIEs in developing countries are involved with customers at the BoP on a day‐to‐day basis. However, there is a significant knowledge gap in the literature on their social responsibility and customer loyalty. This paper is the first of this kind to address and link this critical issue.

Details

Social Responsibility Journal, vol. 9 no. 3
Type: Research Article
ISSN: 1747-1117

Keywords

Article
Publication date: 30 September 2014

Antonis Skouloudis, Athanasios Chymis, Stuart Allan and Konstantinos Evangelinos

The purpose of this paper is to outline a set of propositions for the Greek business sector concerning the value of strategically adopting a responsible business behaviour. The…

Abstract

Purpose

The purpose of this paper is to outline a set of propositions for the Greek business sector concerning the value of strategically adopting a responsible business behaviour. The recent economic downturn of the Greek economy stresses the need for redefining current business models, attitudes and practices.

Design/methodology/approach

The authors draw from prior literature on strategic corporate responsibility and build their arguments on the value of social responsibility as an important component of an exit strategy from the domestic economic crisis.

Findings

Promoting the social responsibility of business could yield win–win opportunities for Greek firms and have a positive effect on the regeneration of the national economy’s dynamics. Connecting the well-established strategic CSR literature with the specific handicaps of an economy under pressure, we point out that the current deep crisis can be alleviated by regaining the trustworthiness, supporting the competitiveness potential and enhancing the extroversion of the Greek economy.

Practical implications

Strategic options from which policymakers and managers can endorse the development of a CSR agenda as an exit strategy component are set forth. Such practical implications pertain to the creation of an enabling environment for strategic CSR implementation, an emphasis on CSR-related amelioration of competitiveness parameters and a redefinition of market orientation of domestic firms under the scope of socially responsible business behaviour.

Originality/value

An economic–business environment under extreme pressure is discussed; problems relevant to the Greek case are outlined while a new approach in the way of doing business is proposed.

Details

Social Responsibility Journal, vol. 10 no. 4
Type: Research Article
ISSN: 1747-1117

Keywords

Book part
Publication date: 8 July 2010

Christopher G. Worley and Edward E. Lawler

The increasing interest in economic, social, and ecological sustainability has important implications for the traditional views on organization effectiveness, organization design…

Abstract

The increasing interest in economic, social, and ecological sustainability has important implications for the traditional views on organization effectiveness, organization design, and organization development. Managers need to design organizations to achieve a “triple bottom line.” A review of the organization effectiveness literature suggests that no single model seems to provide the necessary guidance, and there is a clear need for creation, revision, and integration. Organization effectiveness criteria in the future require a clearer modeling of the multistakeholder demands so that organization designers can specify appropriate strategies, structures, systems, and processes as well as the changes necessary to develop them. We propose an integration called “responsible progress” and suggest that it represents an important new stream of organization development theory. The relationships between this new criterion of organization effectiveness and the design features necessary to pursue them must be tested.

Details

Research in Organizational Change and Development
Type: Book
ISBN: 978-0-85724-191-7

Article
Publication date: 1 March 1990

Roger J. Sandilands

Allyn Young′s lectures, as recorded by the young Nicholas Kaldor,survey the historical roots of the subject from Aristotle through to themodern neo‐classical writers. The focus…

Abstract

Allyn Young′s lectures, as recorded by the young Nicholas Kaldor, survey the historical roots of the subject from Aristotle through to the modern neo‐classical writers. The focus throughout is on the conditions making for economic progress, with stress on the institutional developments that extend and are extended by the size of the market. Organisational changes that promote the division of labour and specialisation within and between firms and industries, and which promote competition and mobility, are seen as the vital factors in growth. In the absence of new markets, inventions as such play only a minor role. The economic system is an inter‐related whole, or a living “organon”. It is from this perspective that micro‐economic relations are analysed, and this helps expose certain fallacies of composition associated with the marginal productivity theory of production and distribution. Factors are paid not because they are productive but because they are scarce. Likewise he shows why Marshallian supply and demand schedules, based on the “one thing at a time” approach, cannot adequately describe the dynamic growth properties of the system. Supply and demand cannot be simply integrated to arrive at a picture of the whole economy. These notes are complemented by eleven articles in the Encyclopaedia Britannica which were published shortly after Young′s sudden death in 1929.

Details

Journal of Economic Studies, vol. 17 no. 3/4
Type: Research Article
ISSN: 0144-3585

Keywords

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