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PEOPLE,PLANET,PROFIT
Good.Smart.Business.Profit.Thosearethecriteriafornominationasoneofthe WorldsMostEthicalCompanies,awardedbytheEthisphereInstitute.(AboutEthisphere, 2009)In1970,MiltonFriedmanwrotehisessay,TheSocialResponsibilityofBusinessisto IncreaseitsProfits.(FriedmanM.,1970)JuxtaposedwithFriedmanisTheStakeholder TheoryoftheModernOrganization,writtenbyR.EdwardFreeman,whicharguesthat companiescanbegood,smart,businessoriented,andprofitable,whileatthesametimebeing goodcorporatecitizens,reducinginequality,andengagingtheirstakeholders.(Freeman,2002) Ourstudiesinthisclasshavemadeclearthateconomicstratificationshaveincreasedmarkedly inthepastthreedecades.CouldFriedmansprofitspecificviewbecontributingtoinequality? Isittimetorethinkthesocialresponsibilityofbusiness?Thispaperwillexplorebothspectrums oftheargumentandhighlightwaysthatmanyorganizationsandcorporationsareworking withintheirmissiontogrowthetriplebottomlineofpeople,planet,andprofit.(Price,2007) Whyallthisclamoroverthesocialresponsibilityofbusiness,otherwiseknownas corporateethicsorcorporatesocialresponsibilityCSR,forshort?AsRobertReichhastoldus inhisbookSupercapitalism,theriseofcapitalismanditsescalationintosupercapitalismhas widenedthegapinequality.(Reich,2007)Twentyyearsago,thetotalpayoftheaverage executivewas40timestheaverageworker;nowitis110timestheaverage.(Leaders:Rich man,poorman;Globalisationandtheriseofinequality,2007)Eightypercentoftheworlds grossdomesticproductbelongstothe1billionpeoplelivinginthedevelopedworld;the remainingtwentypercentissharedbythe5billionpeoplelivingindevelopingcountries.

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(ReportontheWorldSocialSituation,2005)In2001,11to13percentofAmericanswereliving onlessthanwhatgovernmentexpertsestimatetheyneedtobuybasicnecessities.These peoplecouldnotescapepoverty,despitelivingwithafulltimeworkerworking50weeksa year.(Kerbo,2006) Whatdoesthathavetodowithcorporations,youmayask?Again,IrefertoReich,who tellsusthatsupercapitalismhasspilledoverintodemocracy.Themergersandtakeoversof corporationsinthelate1990sandearly21stCenturyhavecreatedmegacorporationswhich arestronglyinfluencingourcultureanddemocracy.Theoligopoliesofthe20thCenturybig business,biglabor,regulatoryagencies,andlegislatureswhichusedtohelpspreadthe wealth;balanceworker,corporate,andcommunityrights,haveeroded.Corporatecampaign contributionstopoliticalcandidatesandthestampedeofWashingtonlobbyistsaredrowning outthevoicesofcitizenry,ineffortstoinfluencepublicpolicyinfavorofcorporations.Reich alsotellsusthatpowerhasshiftedtoconsumersandinvestorsandthatdemocraticcapitalism hasbeenreplacedbysupercapitalism.Additionally,asourcountryisinthemidstofthis economiccrisis,atitsheart,onalmostadailybasis,weseeexamplesofirresponsibleand unethicalcorporateleadership. Whyshouldwecareaboutthepowershifttoconsumersandinvestors,corporate ethics,andtheerodingofdemocraticcapitalismtotheproliferationofcorporateglobalization? Weshouldcareforseveralreasons.AsJohnF.Kennedysaidinhisinauguraladdressin1961, Ifafreesocietycannothelpthemanywhoarepoor,itcannotsavethefewwhoarerich.On ahumanitarianlevel,weshouldcarethatmillionsofpeoplearestarvinganddyinghungry

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everyday.Onamoreselfishlevel,weshouldbeconcernedaboutthegapbetweenwealthand povertybecause,astheworldbecomesmoreinterconnected,thewellbeingoftheworldsrich willbecomeincreasinglythreatened.(Kerbo,2006)Thevastmajorityofpoliticalviolenceand terrorismisbredinextremepovertyandsocialdisruption.Thishasbeenborneoutinrecent yearsintheMiddleEast.InAfghanistan,followingthedemiseoftheSovietUnionin1991, muchofthecountrywasdestroyed.Peoplewereverypoor,andtherewasanarchy.Islamic fundamentalistsfromoutsidethecountryinfiltrated;andtheultraconservativeTalibanwon controlofAfghanistan,whosepeopleweretiredoflivinginconflictandcorruption.InIraq, whentheIraqiarmywasdisbandedinthecurrentwar,andallofitssoldierslosttheirjobs, addingtothecountrysunemployment,againIslamicfundamentalismmadeinroadsin mainstreamIraqbecauseofitspromisestohelpimproveconditionsresultingfromthewarwith theAmericans.(Ferguson,2007) Safetyisnottheonlyconcern.Worldpovertyalsocontributestoloweringofwagesand standardsoflivingforthebottom50percentofAmericans.Themorepeoplegloballythatare willingtoworkinsubstandardsweatshops,thelessmultinationalcorporationshavetopay higherwagestoAmericansathome.Intermsofhealth,theWorldHealthOrganizationhas indicatedthatpeoplewhoareweakenedduetopovertyaremoresusceptibletodeadly infectiousdiseasesthatcouldalsospreadtowealthiernations.HIV/AIDS,acuterespiratory syndrome,andavianinfluenzaaresuchexamples.(Kerbo,2006) Inhisarticle,FromHegemonytoDemocracy,BostonCollegeProfessorofSociology CharlesDerberisalsoonparwiththeassessmentsofReichandKerbo.(Derber,Summer2007)

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Derberwritesaboutthreesuicidalprinciplesdeeplyembeddedincorporateglobalization.The firstandmostcomprehensiveishegemony,inthiscasetheobjectiveofdominationbyglobal corporationsandthesuperpowerswhichsupportthem,particularlytheUSgovernment.He pointstothe9/11attacksasevidenceofhowtechnologyhasmadeitpossibleforsmallnations, networks,orevenindividualswithsocioeconomicandpoliticalresentmentstodestroywhole citiesorcountries,inreactiontothisdomination. Derberssecondglobalsuicidalprincipleistheeconomicpolarization,thewideningof thegapbetweenrichandpoorinthemidstofvastglobalwealth.Hesaysthisissocially unsustainablebecauseitwillencourageclassbasedviolence,oftenunderthecloakofreligion. Finally,Derberaddressesenvironmentalsustainabilityand,inparticular,globalwarming.He tellsusthatmostclimatologistsbelievethatglobalwarmingwillthreatenthesurvivalof civilizedlifeandnatureinlessthanacentury. Ifwebelievetheclaimsabouttheinfluenceofthecorporationonworldpoverty,the environment,workingconditions,health,andsafety,wecanseethatthecorporationcanalso haveanimpactonsolutionstotheseproblems.Thusenterstheideaofcorporatesocial responsibility.Andlikeallcomplexissues,thesolutionsmaybealsocomplex.Ontheone hand,wehavetheviewoftheesteemedeconomist,MiltonFriedman,whoin1970wrotehis famousNewYorkTimesarticle,TheSocialResponsibilityofBusinessistoIncreaseitsProfits. Friedmanwrotethatbusinessmenwhopromotedesirablesocialends,takeserious responsibilityforprovidingemployment,eliminatingdiscrimination,avoidingpollution,or whateverothersocialconsciencedictates,wouldbepreachingpureandunadulterated

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socialism,notfreeenterprise.Friedmanelaboratesthatacompanysresponsibilityistoits shareholders;thatifmanagersthinksomethingbeyondmaximizingshareholdervalue,theyare operatinginviolationtotheirresponsibilities. IncontrasttoFriedman,wehaveTheStakeholderTheoryoftheModernCorporation, writtenbyR.EdwardFreeman,in1984.Freemanarguesagainsttheprimacyofthe shareholderandreplacesthisconceptwiththatofthefiduciaryrelationshiptostakeholders. Hedefinesstakeholdersassuppliers,customers,employees,stockholders,localcommunities, andmanagement.Thesearegroupswhoeitherbenefitfromorareharmedbycorporate activities.Freemantellsusthateachofthesestakeholdersisnotameanstoanendandmust participateinthefuturedirectionofthefirminwhichtheyhaveastake.Thequestionheasks isForwhosebenefitandatwhoseexpenseshouldthefirmbemanaged?Additionally, accordingtoFreeman,externalities,moralhazards,andmonopolypowerexist,whichpreclude managementsabilitytoactsolelyintheinterestsofitsstockholders.Externalitiescanbe regulations,suchastheEnvironmentalProtectionAct,TheEqualPayAct,andtheCivilRights Act.ExpandingonFreemanfromtodaysperspective,someaspectsofthesubprimemortgage debaclescreamofexamplesofmoralhazards. Aswecansee,thereiscompellingevidencebothdomesticallyandgloballyforthe rationaleandneedforcorporatesocialresponsibility.Whilewehavealongwaytogo,since thelate1980sandearly90s,amovementtowardsfundamentalchangehasbeenunderway. NotonlydowehavewriterssuchasFreemanraisingsocialconsciousnessonthematter,but alsowehavesuchhistoricallysignificanteventsasthefalloftheBerlinWallin1989.According

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toanotherFriedman,ThomasL.,inhisbook,TheWorldisFlat,thefalloftheBerlinWallwasa globaltippingpointtowarddemocratic,consensual,freemarketgovernance,andawayfrom communism.Friedmanwrote,Henceforth,moreandmoreeconomieswouldbegoverned fromthegroundup,bytheinterests,demands,andaspirationsofthepeople,ratherthanfrom thetopdown,bytheinterestsofsomenarrowrulingclique.(FriedmanT.L.,TheWorldisFlat, Release3.0,2007) Bythemid1990s,agrowingnumberofcorporationsbegantoseecorporatesocial responsibilityasbeneficialtothebottomline.In1992,theorganizationBusinessforSocial ResponsibilitywasfoundedbytheCEOsof50sociallyorientedcompanies.Theirmission:to supportgoodcorporatecitizenship.In1994,thephrasetriplebottomlinewascoinedbythe BritishconsultingfirmSustainAbility.Theircontention:corporationslongtermsuccess requiresattentiontosocietyandenvironment,aswellasshareholders.(Price,2007) InOctober2005,ReasonMagazinerevisitedMortonFriedmans1970contentionsand sponsoredadebatebetweenFriedman;JohnMackey,CEOofWholeFoodsMarket,Inc.;andT. J.RodgersofCypressSemiconductor.(RethinkingtheSocialResponsibilityofBusiness,2005) FriedmanstatedthathethoughtthedifferencesbetweenhimandMackeywereforthemost partrhetorical,yetMackeythoughtotherwise.Whilehehighlyregardstheaccomplished Friedman,herespectfullydifferedandcontinuedhiscallforanewbrandofcapitalism,onethat consciouslyworksforthecommongoodinsteadofdependingontheinvisiblehandto generatepositiveresultsforsociety.Mackeygoessofarastosaythatextendingourloveand

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carebeyondournarrowselfinterestisantitheticaltoneitherhumannaturenorfinancial success. Ofcourse,thecriticismsofcorporatesocialresponsibilitystillexist.IntheReason debate,T.J.Rodgers,referredtoasthespokesmanforthetoughloveschoolofLaissezfaireand dubbedasoneofAmericastoughestbossesbyFortune,arguedthatcorporationsaddfar moretosocietybymaximizinglongtermshareholdervaluethantheydobydonatingtime andmoneytocharity.FurthercriticismswerethatMackeyisrunningahybrid business/charityandthatMackeysphilosophyismoreattunedtoKarlMarxthanfreemarket capitalism. Yetastheyearsgoon,eveninthisverydifficulteconomy,wecontinuetoseesignsof continuedeffortstowardcorporatesocialresponsibility.TheDomini400SocialIndexwas launchedin1990asacommonstockbenchmarkindexfundconstructedusingenvironmental, social,andgovernancefactors.Thefundisconsideredastandardformeasuringtheimpactof socialandenvironmentalexcellence.Theindexiscomprisedof250S&Pcompanies,100 additionallargeandmidcapcompanies,and50smallercompanieswithexcellentsocialand environmentalrecords,suchasemployeeandhumanrelations,productsafety,environmental safety,andcorporategovernance.Businessesengagedinalcohol,tobacco,firearms,gambling, nuclearpower,andmilitaryweaponsneednotapplyforinclusion.Thefundwasdesignedfor sociallyconsciousinvestorstoweighsocialandenvironmentalfactorsintheirinvestorchoices. (Domini400SocialIndex,2009)ComparedtotheS&P500,theDominihasshownannualized

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returnsof8.43,comparedto7.78,respectively,sinceitsinception5/1/90.Thisisevidence thatfocusingonpeopleandtheplanetcanindeedyieldprofit. Thetopicsofcorporatesocialresponsibilityandbusinessethicshavealsobecome subjectsofdiscussionintherealmofhighereducation.Aspartofitscentennialin2008, HarvardBusinessSchoolheldanunprecedentedcolloquiumofworldwidebusinessschool deans,corporaterecruiters,andexecutives.Theirdiscussionssurroundedthefutureofthe MBA,followingcontinuedinstancesofcorporatescandals.HBSprofessorRakeshKhurana argued,Manybusinessschoolshavebeencomplicitincreatingrecentcorporatescandalsby turningoutgraduatesfixatedonshareholdervalueattheexpenseofallotherstakeholdersin society.SomeofthekeyideasarethatMBAprogramsputtoomuchweightontheoryandnot enoughonleadershipinourglobalenvironmentanddevelopmentofsoftskillsandcultural awarenessforstudents.ManyoftodaysMBAprogramsbeganduringthelate1950s,atatime ofverticalcorporatebureaucraciesmostlyintheUS.Today,withbusinessschoolschurningout 500,000MBAsayear150,000intheUSaloneandorganizationsbecomingflatter,theneed isforleaderswhocanseeopportunitiesacrossfunctionalandculturalboundaries. InadditiontotheHarvardBusinessSchoolstudy,anotherwayuniversitiesarepreparing studentsforglobalizationandsolvingsocietysproblemsistheconferringofdegreesinthe relativelynewsubjectareaofpublicpolicy.Publicpolicycurriculumcoverscrossdisciplinary subjectssuchaseconomics,socialsciences,andpoliticalscience,givinggraduatesamuch broadereducation.AtourownUniversityofChicago,studentscanspecializeinurbanstudies; humanrights;economics;education;sociologyworkandfamily;politics;ororganizations.

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Educatedinthesedisciplines,onecanonlyhopethatfuturegenerationsofbusinesspeoplewill actdifferentlythanthebusinesseshighlightedintheNovember8,2008,60Minutesexpos entitled,FollowingtheTrailofToxicEWaste. ThenewsshowtookustoGuiyu,China,toarecyclingdumpoftoxicewaste.Muchof thepoisoncomesfromhomes,schools,andofficesoftheUnitedStates,intheformofourold TVs,phones,andcomputers.Thewasteisbrokendownforthepreciousmetalsinside. Peasantworkers,withoutproperequipment,handlelead,cadmium,mercury,chromium,and polyvinylchlorides,allofwhichareknowntoxins.Whydotheseworkersworkinthese conditions?Whenasked,oneworkersaid,Becausethemoneysgood.Jim,Puckett,founder oftheBaselActionNetwork,awatchdoggroupforstoppingrichcountriesfromdumpingtoxic wasteonpoorcountries,remindsus,Desperatepeoplewilldodesperatethings.Butwe shouldneverputtheminthatsituation.Youknow,itsahellofachoicebetweenpovertyand poison.Weshouldnevermakepeoplemakethatchoice.(FollowingtheTrailofToxicEWaste [60Minutes],2008) Finally,wehavepeoplelikeNobellaureateMuhammadYunus,whourgesleadersto rethinksystemsthatkeeppeoplepoor.Yunus,aBangladeshieconomistknownasthebanker forthepoor,wonthe2006NobelPeacePrizeforhissystemofmicrocredit.ThroughGrameen Bank,whichhefounded,hehelpsthepoorlivebetterlivesbymakingtinyloans.Povertyis createdbythedecisionsthatwehavemadearoundtheworld,bytheframework,thetheory, andbusinessdefinitionswehavecomeupwith,saysYunus.(Mellgren,2007)

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Whilewehaveseensomehopefulsignstomovetowardssociallyresponsiblebusiness operations,wealsocontinuetoseethecausesandeffectsofcorporateirresponsibilityand inequality.Howcanwechangethesystem?AccordingtoBjornAndersen,inhisarticle,A FrameworkforBusinessEthics,aholisticframeworkisneededtodepictitasamanageable processandtoencouragemoreorganizationstoswitchtoabusinessethicsmodel.Anderson outlinesafourstepprocesswhichcanbefollowedtoconstructanethicalbusinessapproach. Thestepsareaprogressionoflegal,ethical,economic,andphilanthropicdimensions. (Andersen,2008) Atthemostbasiclevel,theorganizationmustcleanupanylegalissues.Afrequent exampleinourclassofcorporateirresponsibilityhasbeenWalMartStores,Inc.;andWalMart oflateseemstobeaddressingitslegalconcerns.OnthelistofHumanRightsWatch, http://www.hrw.org,forseveralyears,WalMarthasalsobeentherespondentinmanyclass actionlawsuitsfiledagainstitforsexdiscrimination,aggressiveantiunionorganizingtactics, andviolatingworkersrights.InDecember2008,WalMartsettledtwoclassactionlawsuits, oneinMinnesotafor$54.25million,andanotherfor$352millionforcasesfiledacrossthe country.OvertwomillioncurrentandformerWalMartemployeesaretheplaintiffs.Thisalso markstheendoftheembarrassingeraofoutgoingCEOH.LeeScott,Jr.,whowassucceededby MichaelT.DukeinFebruary.(Greenhouse,2008) Followingcompliancewithlawsandgovernmentregulations,thenextstepin Andersonsframeworkiscleaningupethicalissues.Thisisachievedbyfollowingstandardsof acceptablebehaviorasjudgedbystakeholders.AccordingtoAnderson,onlyafterthecleanup

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cantheorganizationbeseenasagoodcorporatecitizenthathasthewellbeingofits stakeholdersinmind.Finally,aftermaximizingstakeholderwealthand/orvalue,the corporationcantakethesteptowardsbeingaphilanthropicorganization.Whetherthe remedialactionsofourWalMartexamplewillreachthehighestlevelandcontribute,as Andersenwrites,beyondthedamageithasinflictedremainstobeseen. Insummary,thetitleofthispaperisPeople,Planet,Profit.Thatisthetriplebottom linethatproponentsofcorporatesocialresponsibilityseektomeasureintodayscorporation. ItiswhatWilliamGreiderdescribesasthemoraleconomy,inhisessayinInequalityMatters. (Greider,2005)Capitalismisahumanconstruct.Itwasnotinscribedontabletshandeddown byAdamSmithorGod;itwasmadebypeopleandsoitcanbealteredbypeople,Greider writes. CSRistheattempttoaltertheconstructofcapitalism.Itistheattempttobalance AdamSmithsothergreatwork,TheTheoryofMoralSentiments,(Smith,1790)withtheoneso oftenquotedbyeconomistslikeMiltonFriedman,TheWealthofNations.InTheTheoryof MoralSentiments,Smithtellsusthathumannatureisnotjustaboutselfinterest;itincludes sympathy,empathy,friendship,love,andthedesireforsocialapproval.Itisthesignof maturitythatonegrowsbeyondchildhoodegocentrismandbeginstocareaboutothers. (RethinkingtheSocialResponsibilityofBusiness,2005) Willcorporatesocialresponsibilityreduceinequality?Inourcurrenteconomic meltdown,thesearetryingtimes;thejuryisstillout.Afewthingsarecertain,however.The NorthernTrustBanklaidoff450peopleinDecember2008,itsCEOFrederickWaddellsaying,

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Themacroeconomicenvironmenthasbeenextraordinarilydifficultandhasimpactedall segmentsoftheglobaleconomy.Thenextmonth,thispastJanuary,Northernstoppeople lavishedatexclusivehotels,agolfouting,andbignameconcerts."ThekeypointisNorthern Trustisabusinessthatearnedanoperatingnetincomeof$641millionlastyear,"saidsenior vicepresidentDouglasHolt."Wepaidfortheseeventsourselves.Theywerepaidforaspartof abusinessdecisionregardinganannualeventtoshowappreciationforclients.NorthernTrust isnotabankthatwasorislosingmoneyandthereforehadtogotothegovernmentfor assistance."Thisflipflopinactionspointstocorporateirresponsibility,noteconomicequality. Thesubprimemortgagedebaclenomoneydownloansgrantedwithoutproofof creditworthiness,securitizationofloanstoinvestors,creditdefaultswapstohedgethe investmentsallpointtotheneedforamoralitycheck.Intheglobaleconomy,notonlyisthe USsuffering,butalsotherestoftheplanet,forthisirresponsibility.Currently,intheUnited Statesalone,12.5millionpeoplehavelosttheirjobs.Whenyouaddtothattheinvoluntary parttimeworkersanddiscouragedworkerswhohavegivenupfindingajob,thetotal unemploymentrateis14.8percent,oroneinsevenAmericans.(Aversa,2009)Recentnews reportsfromJapanandevenChinaindicaterisingunemploymentaswell. ThetownofGuiyu,China,anditspeoplearedrinkingcontaminatedwater,livingand workingintoxicewaste;thesignalspointtocorporateirresponsibility,noteconomicequality. Theworldsbiggestretailer,WalMart,paysitsemployeeswagessolowandprovideslimited healthinsurance,sothatmanyofitsemployeesneedtorelyonMedicaidandothersocial services,whilethecompanyanditsownersenjoybigprofits.Again,thesignalspointto corporateirresponsibility,noteconomicequality.Whencapitalismgrowstosupercapitalism,

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withoutanychecksandbalances,asReichtellsus,thesignalspointtocorporate irresponsibility,notequality.Whilethecompleteeffectsofcorporatesocialresponsibilityare notyetknown,Ithinkitisfairtosaythatthelackofcorporatesocialresponsibilitycertainly doesnotreduceinequalityeither. EventhebastionoftheMBA,HarvardBusinessSchool,feelsthepainandtheshame. BankofAmericasCEOKenLewisinthespotlightrecentlyforthegrantingof$3.6billionto topperformersatsubsidiaryMerrill,Lynch,whichlost$28billionin2008,andflyinghis expensivecorporatejettoNewYorkCitywhiletakingfederalbailoutmoneyisagraduateof theprogram. Themoderncorporation,asFreemancalledit,impactsmanymorepeoplethanAdam Smithcouldhaveeverimaginedin1790,whenhewrotehisfamousinvisiblehandessay.As weregularlysee,wecannolongerrelyontheinvisiblehandormoraljudgmentofafew. SomeonesdecisioninaskyscraperintheUSaffectsgenerationsinasmalltowninChina.We areinterconnectedasneverbefore;andweneedamoreproactiveapproach,capitalismwith someregulation.Wealsoneedindividualstoactethically.Theinvisiblehandisbecoming imperceptible.Disastrousthingshappenfartoorapidlytoday;reactionaryfixesmaycometoo late.Itistimetochangetheconstruct;itistimetogiveattentiontoAdamSmithslessquoted writing.Itistimetolookatnotonlyhowacompanyspendsitsprofitsbuthowitmakesits money. Inmyopinion,corporatesocialresponsibilityisalsoaresultofsupercapitalism.Both ReichandThomasL.Friedmantellusthatpowerhasshiftedfromtherulingelitetoconsumers

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andinvestors.Freidmanspeaksofthreeglobalizationdemocratizationsinhisbook,TheLexus andtheOliveTree.Theyare:thedemocratizationoftechnology,thedemocratizationof finance,andthedemocratizationofinformation.(FriedmanT.L.,TheLexusandtheOliveTree, 2000)Inthedemocratizationofinformation,nobodycanhide.Countriescannolongerkeep peopleinthedark,andneithercancorporations.Wearebombardedbyexamplesofcorporate irresponsibilityandmoralitygoneamuck.CSRisthemomentumbythoseconsumersand investorsadvocatingasustainableapproachtobusinessoperations.Itisthedemandsof consumersandinvestorsandotherpeopleimpactedbycorporateactionstolooksidebyside atsocial,environmental,andfinancialperformanceofbusinesses.(WhatisCorporateSocial Responsibility(CSR)?,2009)Itisthedemandstoendthegreedanddestructioninourglobal economy.Itisnotonlytimetorethinkthesocialresponsibilityofbusiness;itistimetoact.

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Bibliography
AboutEthisphere.(2009,March).RetrievedFebruary20,2009,fromEthisphere: http://ethisphere.com/about/ Andersen,B.(2008,March).AFrameworkforBusinessEthics.QualityProgress,41(3). Aversa,J.(2009,March6).JoblessRateBoltsto8.1Percent.RetrievedMarch7,2009,fromThe AssociatedPress: http://www.google.com/hostednews/ap/article/ALeqM5jsanM66tszKz1zFq0LOG4XvWS7zAD96OO4U01 Derber,C.(Summer2007).FromHegemonytoDemocracy.JournalofCorporateCitizenship,2829. Domini400SocialIndex.(2009).RetrievedFebruary20,2009,fromInvestopedia: http://www.investopedia.com/terms/d/domini_400.asp Ferguson,C.(Director).(2007).NoEndinSight[MotionPicture]. Pelley,S.(Performer).(2008).FollowingtheTrailofToxicEWaste[60Minutes].NewYork,NY,USA. Freeman,R.E.(2002).StakeholderTheoryoftheModernCorporation.InP.H.ThomasDonaldson, EthicalIssuesinBusiness(pp.3848).UpperSaddleRiver,NJ:PearsonEducation. Friedman,M.(1970,September13).TheSocialResponsibilityofBusinessistoIncreaseitsProfits.New YorkTimesMagazine. Friedman,T.L.(2000).TheLexusandtheOliveTree.NewYork:AnchorBooks,adivisionofRandom House,Inc. Friedman,T.L.(2007).TheWorldisFlat,Release3.0.NewYork:Picador/Farrar,StrausandGiroux. Greenhouse,S.a.(2008,December24).WalMarttoSettleSuitsOverPayfor$352Million.TheNew YorkTimes,Business/FinancialDesk(LateEdition(EastCoast)).NewYork,NY,USA. Greider,W.(2005).BuildingaMoralEconomy.InJ.L.Smith,InequalityMatters(pp.247257).NewYork: TheNewPress. Kerbo,H.R.(2006).WorldPoverty.NewYork,NY:McGrawHill. Leaders:Richman,poorman;Globalisationandtheriseofinequality.(2007).TheEconomist,12. Mellgren,D.(2007,March30).YunusUrgesLeaderstoRethinkSystemsThatKeepPeoplePoor.The AssociatedPress,p.450words. Price,T.(2007).CorporateSocialResponsibility.CQResearcher.

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Reich,R.B.(2007).Supercapitalism.NewYork:VintageBooks,adivisionofRandomHouse. (2005).ReportontheWorldSocialSituation.NewYork:UnitedNations. RethinkingtheSocialResponsibilityofBusiness.(2005,October).RetrievedFebruary6,2009,from Reason.com:http://www.reason.com/news/show/32239.html Smith,A.(1790).TheTheoryofMoralSentiments.RetrievedMarch6,2009,fromLibraryofEconomics andLiberty:http://www.econlib.org/library/Smith/smMS.html WhatisCorporateSocialResponsibility(CSR)?(2009,March6).RetrievedMarch6,2009,from CSRwire.com:http://www.csrwire.com/pdf/WhatIsCSR.pdf

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