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Why we need a theory of CSR

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  • Richard Warren

    (Manchester Metropolitan University, Business School)

Abstract

The contention of this paper is that, at the moment, the concept of CSR lacks a theory to give it clarity and direction in the corporate context, this makes it difficult for managers to know what to do, how far to go, and how to evaluate and account for the results they are achieving in their endeavours to implement CSR policies. To come to grips with the CSR movement we need briefly to consider why the demand for CSR has arisen, how it manifests itself in business practice, and whether it can be understood in theoretical terms so that it could become institutionalized in an accountable way. A candidate theory of CSR is offered: the communitarian theory of corporate purpose is to, within and upholding the rules of ethical business, produce the maximum sustainable value for stakeholders. The measure of this is profits for shareholders and deposits of social and natural capital for other stakeholders.

Suggested Citation

  • Richard Warren, 2011. "Why we need a theory of CSR," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 197-211.
    • Handle: RePEc:ura:ecregj:v:1:y:2011:i:1:p:197-211
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    References listed on IDEAS

    as
    1. Kuznetsov, A. & Kuznetsova, O. & Warren, R., 2009. "CSR and the legitimacy of business in transition economies: The case of Russia," Scandinavian Journal of Management, Elsevier, vol. 25(1), pages 37-45, March.
    2. Ruskin, John, 1860. "Unto This Last," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number ruskin1860.
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