Responsabilit socitale et dveloppement durable

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The financial crisis, investor activists and corporate strategy: will this mean shareholders in the boardroom?

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Abstract  The concept of stakeholder engagement is gaining increasing attention in the mainstream media and may feature as part of a corporation’s strategy for corporate social responsibility. Not only are boards considering how they might engage with key stakeholders, but stakeholders are also pursuing greater participation in the strategic decisions of companies in which they invest. While this is an emerging concept in companies governed by unitary boards, as in North America, the issue of stakeholder engagement in various forms is also entering debate in other countries around the world. In general, however, the idea of shareholder or stakeholder representation on the boards of most UK and Commonwealth companies is anathema. Forces now influencing the development of strategies for stakeholder engagement and the rise of active investors include changing corporate governance rules which give investors more power in the election of directors, the increasing role of pension plans and hedge fund investment groups which have produced investors who keep a close eye on company performance and value, and a sluggish or turbulent stock market as a result of the financial crisis initiated by the credit crunch in the sub-prime mortgage markets. In this paper the phenomenon of stakeholder representation is examined and results of a recent survey conducted among a large sample of New Zealand directors are presented. The findings suggest that these traditionally oriented boards are increasingly inwardly focused and are without an agenda for building and managing shareholder and stakeholder relations. Accordingly, such boards are unlikely to regard stakeholder engagement as a serious strategic issue and are thus also likely to miss significant opportunities in the changed business environment to benefit from stakeholder support.

  • Content Type Journal Article
  • Pages 1-31
  • DOI 10.1007/s10997-010-9130-9
  • Authors
    • Coral Ingley, Faculty of Business and Law, Auckland University of Technology, Private Bag 92006, Auckland, 1142 New Zealand
    • Jens Mueller, Waikato Management School, Hamilton, New Zealand
    • Graeme Cocks, Melbourne Business School, 200 Leicester St, Carlton, VIC 3053, Australia

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Conceptualising Corporate Social Responsibility: ‘Relational Governance’ Assessed, Augmented, and Adapted

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Abstract  
Academic interest in corporate social responsibility (CSR) can be traced back to the 1930s. Since then an impressive body of empirical data and theory-building has been amassed, mainly located in the fields of management studies and business ethics. One of the most noteworthy recent conceptual contributions to the scholarship is Midttun’s (Corporate Governance 5(3):159–174, 2005) CSR-oriented embedded relational model of societal governance. It re-conceptualises the relationships between the state, business, and civil society. Other scholars (In Albareda et al. Corporate Governance 6(4):386–400, 2006; Business Ethics: A European Review 17(4):347–363, 2008; Lozano et al., Governments and Corporate Social Responsibility, 2008) have recently successfully used the model as the basis for their analytical framework for researching CSR activities in a large number of western European countries. While this research offers valuable insights into how CSR is operationalised, it also suffers from a number of significant limitations. To develop a stronger analytical framework with which to explore CSR, this article draws more deeply on political science literature concerned with governance and public policy analysis. This represents the main purpose of this article. In addition, this article also addresses a second and more modest aim: to reflect on the ways in which relational governance-inspired frameworks could be adapted and applied to politico-economic systems where state-industry-third sector relations differ from those found in North America and Western Europe. Both lines of argument are illustrated using vignettes from a case study of the Evenkia Hydro-Electric Station building project in the Russian Federation.

  • Content Type Journal Article
  • Pages 1-15
  • DOI 10.1007/s10551-011-0968-9
  • Authors
    • Jenny Fairbrass, School of Management, University of Bradford, Emm Lane, Bradford, BD9 4JL UK
    • Anna Zueva-Owens, School of Management, University of Bradford, Emm Lane, Bradford, BD9 4JL UK

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Role of Socioeconomic Status on Consumers’ Attitudes Towards DTCA of Prescription Medicines in Australia

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Abstract
The Pharmaceutical Benefits Scheme, operating in Australia under the National Health Act 1953, provides citizens equal access to subsidised pharmaceuticals. With ever-increasing costs of medicines and global financial pressure on all commodities, the sustainability of the PBS is of crucial importance on many social and political fronts. Direct-to-consumer advertising (DTCA) of prescription medicines is fast expanding, as pharmaceutical companies recognise and reinforce marketing potentials not only in healthcare professionals but also in consumers. DTCA is currently prohibited in Australia, but pharmaceutical companies continuously lobby for the ban to be lifted. There is evidence that such marketing strategies influence consumer behaviour and concerns have been raised about whether DTCA could affect government expenditure on the PBS in Australia. This pharmacy-based study explored Australian consumer attitudes towards DTCA and whether consumer attitudes regarding DTCA differ based on socioeconomic status, measured in terms of income and education. Consumers from different socioeconomic areas in Sydney were asked to respond to a survey about an advertisement created specifically for the promotion of a mock prescription medicine. Their views about the intent, value and reliability of the advertisement were explored. The study found that consumers of lower socioeconomic status were more likely to perceive DTCA as a source of valuable and reliable medical information, and that they were more likely to request an advertised medication from their physician. If DTCA of prescription medicines was to be introduced in Australia, an increase in government expenditure on the PBS would be anticipated. Findings of this study also expose a deficit in respect for patients’ right to autonomy and informed consent which should be based on evidence-based, unbiased, information rather than advertisements.

 

  • Content Type Journal Article
  • Pages 1-14
  • DOI 10.1007/s10551-011-0977-8
  • Authors
    • Betty B. Chaar, Faculty of Pharmacy, University of Sydney, Room N508-Bldg A15, Sydney, NSW 2006, Australia
    • Johnson Lee, Faculty of Pharmacy, University of Sydney, Room N508-Bldg A15, Sydney, NSW 2006, Australia

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Mise à jour le Lundi, 29 Août 2011 12:01

The MIT Sustainability Interview Series

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Our interviews feature thought leaders from management, urban studies, energy science, civil engineering, design and more. Conversations are wildly varied, but their goal is to help leading managers answer two crucial questions: As sustainability becomes the defining business issue of our times, what decisions will I need to face? And what will I need to [...]

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