Summary - An introduction to responsible management (Responsible management in emerging markets)
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Course
Management Accounting
Institution
Universidad Carlos III De Madrid (UC3M)
Summary of the chapter named "An introduction to responsible management : A Corporate Social Responsibility, Green Marketing, and Sustainability Management Perspective " of the book Responsible management in emerging markets by Erik Kwame, John Paul Basewe Kosiba, Robert Ebo Hinson, Kojo Kakra Tw...
Lectura 1 1.2 Corporate Social Responsibility as a
An Introduction to Responsible Responsible Management Tool
Management: A Corporate Social
Responsibility, Green Marketing, and Social Responsibility: strategies and tactics
aimed at ensuring that an organization
Sustainability Management Perspective
prioritizes its relationships with multiple
stakeholders
1.1 Introduction
Responsible management seeks to integrate
Enforces companies to become aware of the
ethics, sustainability, social responsibility and
impacts of their activities on their stakeholders,
green practices to achieve economic
(both current and future generations), and to
development, environmental sustainability and
consider the interests of the wider society and
social development.
the environment.
Triple bottom line: pursuing three bottom
Corporate Social Responsibility (CSR): the
lines for people (societal responsibility),
voluntary actions that a corporation
planet (environmental sustainability), and
implements as it pursues its mission and fulfills
profit (firm financial performance).
its perceived obligations to stakeholders,
including employees, communities, the
The environment does not exist in isolation
environment, and society as a whole.
from human activities, ambitions, and needs.
CSR was positioned as a nonmarket
Responsible management: the designing of
strategic tool (for the creation and
business processes and activities in a way that
management of relationships with nonmarket
meet certain social and environmental
stakeholders).
minimum standards, without compromising the
However, it is now being positioned as a
ability of future generations to actualise their
competitive tool that is increasingly
own needs.
becoming a strong determinant of brand
choice.
SDGs: Sustainable Development Goals
(ensure economic, social, and environmental
Sustainability: balancing the need to
sustainability) - 17 goals
maximize economic profit for investors, with
People: determination to end poverty and
the need to positively impact employees,
hunger; ensure dignity and equality
society and the environment.
Planet: protect the planet from degradation
and manage natural resources sustainably
Criticism on CSR:
Prosperity: ensure fulfilling and prosperous
- Has largely become a tool for
lives for all humans; economic and
corporate lack of authenticity
technological development is kept in harmony
- Has helped avert the pressures for
with nature
environmental and public scrutiny of
companies.
Central goal for an economy: attain economic
- Has been used for corporate
growth and sustainable development
deceptions and expressions of
selfishness by businesses:
Journey to achieving sustainability and
“wokewashing”, “bluewashing”,
responsible management within most
“pinkwashing” and “greenwashing”.
emerging economies is long and challenging.
Emerging markets face many sustainable
development dilemmas, as many economic
activities that can reduce poverty also come
with the risk of threats and damage to the
biosphere.
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