Munich Personal RePEc Archive

Social Responsibility: The Good, the Bad and the Ugly

Suarez, Ronny (2020): Social Responsibility: The Good, the Bad and the Ugly.

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Abstract

Social Responsibility is the process of commitment of an organization to contribute to the economic, social, and environmental well-being of society. The correct actions of the company can contribute to enforce its image/reputation, to improve motivation of its workforce, to reduce its costs and risks, and to strengthen its competitive advantage. Regrettably, the notion of what is responsible changes with time and place, limiting the possibility of replicating standards that currently lie in the scope of voluntarism. Furthermore, companies, unfortunately, may engage in dishonest practices (e.g. greenwashing), to access the benefits derivate from social responsibility

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