Development and Responsible Business

Dr. Kenneth Amaeshi’s corporate social responsibility lecture looks at sustainable business in emerging markets. He begins with a background on the theory of CSR and different applications it has, such as stakeholder engagement, business philosophy, governance of externalities, accountability and citizenship. CSR takes many forms, like ethical decision making, accountable corporations and the triple bottom line (people, planet, profit).

In the corporate social responsibility lecture, he notes that there is a handful of companies that are bigger and richer than some countries. While emerging markets will benefit from population growth, the weak institutions and governance in developing countries can create a problem. CSR is also related to the similar concept of corporate shared values. Where CSR is about doing good, CSV is about economic and societal benefits relative to the cost. This may be the more appropriate stance to take in an emerging market. However, compliance with laws and ethics must be present in both to be effective.