Harvard Business Review on Corporate Responsibility (Harvard Business Review Paperback Series)

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Summary: 8essays that see corporate responsibility as an opportunity
Review: Traditional corporate executives may shudder when they hear the term "corporate responsibility". In their view, the corporation's responsibility is to maximize shareholder value within the bounds of the law. That's a tall order as it is, so resistance to the thought of additional sources of responsibility and additional relevant "stakeholders" isn't surprising. The writers gathered in this collection of papers from HBR see corporate responsibility less as a burden and more as an opportunity. The opportunity lies in creating new markets, resolving age-old business problems, improving public perception, strengthening brands, and melding the best ideas for governments and nonprofit institutions for doing well while doing good.

This collection of eight essays provides a firm foundation in both critical and creative thinking on issues of corporate responsibility and active philanthropy. If the terrain is unfamiliar, the collection's fifth essay - "The Path of Kyosei should be a comfortable entry point. Canon's honorary chairman, Ryuzaburo Kaku, sets out five steps along a path toward a "spirit of cooperation". Practical but still intellectually not so challenging is Rosabeth Moss Kanter's "From Spare Change to Real Change: The Social Sector as Beta Site for Business Innovation". Craig Smith in "The New Corporate Philanthropy" sees philanthropic strategies as giving a competitive edge. A similar perspective, worked out in some detail, comes from Michael Porter and Mark Kramer in their contribution, "The Competitive Advantage of Corporate Philanthropy".

Charles Handy takes his turn at defining the extent of corporate responsibility in "What's A Business For?". A more impressive piece with far more potential payback for the executive reader comes from C.K. Prahalad and Allen Hammond in their recent essay, "Serving the World's Poor, Profitably". Also of high quality is Roger Martin's "The Virtue Matrix: Calculating the Return on Corporate Responsibility". For the more philosophical, a challenging and well-presented argument for strong corporate responsibility appears in "Can a Corporation Have a Conscience?" by the fittingly-named Kenneth Goodpaster and John Matthews. With a couple of weaker spots, this collection succeeds in bringing together some of the best recent thinking on the issue in recent years. To fill in the gaps, be sure to look at the best pieces from other publications.