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I N T E R N AT I O N A L S T U D E N T E D I T I O N

NOT
FO R S A LE
IN THE
U N ITED
S TA TES &
C A N A DA

STRATEGIC CORPORATE
SOCIAL RESPONSIBILITY
Sustainable Value Creation
FIFTH EDITION

DAVID CHANDLER
BRIEF CONTENTS

List of Figures xiv

Glossary xvii

Preface: Fifth Edition xxviii

Plan of the Book xxxiv

Supplementary Materials xxxvii

Acknowledgments xxxviii

PART I • CORPORATE SOCIAL

RESPONSIBILITY 1
CHAPTER 1 • What Is CSR? 2

CHAPTER 2 • The Driving Forces of CSR 21

CASE STUDY: Religion 40

PART II • A STAKEHOLDER PERSPECTIVE 55

CHAPTER 3 • Stakeholder Theory 56

CHAPTER 4 • Corporate Stakeholder Responsibility 72

CASE STUDY: Capitalism 95

PART III • A LEGAL PERSPECTIVE 109

CHAPTER 5 • Corporate Rights and Responsibilities 110

CHAPTER 6 • Who Owns the Firm? 127

CASE STUDY: Media 144

PART IV • A BEHAVIORAL PERSPECTIVE 161

CHAPTER 7 • Markets and Profit 162
CHAPTER 8 • Compliance and Accountability 179

CASE STUDY: Investing 202

PART V • A STRATEGIC PERSPECTIVE 219

CHAPTER 9 • Strategy + CSR 220

CHAPTER 10 • Strategic CSR 240

CASE STUDY: Supply Chain 258

PART VI • A SUSTAINABLE PERSPECTIVE 275

CHAPTER 11 • Sustainability 276

CHAPTER 12 • Sustainable Value Creation 298

FINAL THOUGHTS 316

APPENDIX • Implementing Strategic CSR 320

Notes 339
Index 420
About the Author 437
DETAILED CONTENTS

List of Figures xiv

Glossary xvii
CSR Terms xvii
Strategy Terms xxv

Preface: Fifth Edition xxviii

Why CSR Matters xxix
CSR as Value Creation xxx
Studying CSR xxxii

Plan of the Book xxxiv

Content Chapters xxxiv
Case Studies xxxv

Supplementary Materials xxxvii

CSR Newsletter xxxvii
Additional Online Support xxxvii
Instructors xxxvii
Students xxxviii
Acknowledgments xxxviii

PART I • CORPORATE SOCIAL

RESPONSIBILITY 1
CHAPTER 1 • What Is CSR? 2
A New Definition of CSR 4
The Evolution of CSR 8
Foundations of CSR 13
An Ethical Argument for CSR 13
A Moral Argument for CSR 15
A Rational Argument for CSR 17
An Economic Argument for CSR 19
´´ STRATEGIC CSR DEBATE 20
Questions for Discussion and Review 20
CHAPTER 2 • The Driving Forces of CSR 21
Affluence 21
Inequality within Countries 22
Inequality among Countries 23
Sustainability 24
Globalization 26
Communication 31
Mobile Devices 33
Social Media 34
Brands 36
Brands with Attitude 37
´´ STRATEGIC CSR DEBATE 39
Questions for Discussion and Review 39

CASE STUDY: Religion 40

Religion and Capitalism 45
Islamic Finance 47
´´ STRATEGIC CSR DEBATE 53
Questions for Discussion and Review 53

NEXT STEPS 54

PART II • A STAKEHOLDER PERSPECTIVE 55

CHAPTER 3 • Stakeholder Theory 56
Stakeholder Definition 56
A New Definition 57
Stakeholder Prioritization 61
Organizational, Economic, and Societal
Stakeholders 63
Evolving Issues 64
Prioritizing among Issues and Stakeholders 65
A Model of Stakeholder Management 68
´´ STRATEGIC CSR DEBATE 70
Questions for Discussion and Review 71

CHAPTER 4 • Corporate Stakeholder Responsibility 72

CSR: A Corporate Responsibility? 75
Milton Friedman vs. Charles Handy 75
CSR: A Stakeholder Responsibility? 77
Stakeholder Engagement 81
Caring Stakeholders 82
Informed Stakeholders 84
Transparent Stakeholders 86
Educated Stakeholders 88
 Engaged Stakeholders 92
´´ STRATEGIC CSR DEBATE 94
Questions for Discussion and Review 94

CASE STUDY: Capitalism 95

The Financial Crisis 95
Moral Hazard 96
Global Capitalism 97
Occupy Wall Street 99
The Financial Crisis—Ten Years On 101
The Rise of Socialism? 103
´´ STRATEGIC CSR DEBATE 106
Questions for Discussion and Review 106

NEXT STEPS 107

PART III • A LEGAL PERSPECTIVE 109

CHAPTER 5 • Corporate Rights and Responsibilities 110
Corporate Rights 111
Citizens United 113
Corporate Responsibilities 117
Corporate Governance 119
Benefit Corporations 122
´´ STRATEGIC CSR DEBATE 126
Questions for Discussion and Review 126

CHAPTER 6 • Who Owns the Firm? 127

History of the Corporation 127
Limited Liability and the Stock Market 129
Shareholders Own Shares 133
A Legal Person 135
Business Judgment Rule 136
Fiduciary Duty 138
Dodge v. Ford 138
Stakeholders, Not Shareholders 140
´´ STRATEGIC CSR DEBATE 143
Questions for Discussion and Review 143

CASE STUDY: Media 144

CNN 145
Facebook 148
Fake News 150
Addiction 153
Privacy 155
 ´´ STRATEGIC CSR DEBATE 159
Questions for Discussion and Review 159

NEXT STEPS 160

PART IV • A BEHAVIORAL PERSPECTIVE 161

CHAPTER 7 • Markets and Profit 162
Markets 163
Stakeholders as Market Makers 165
Profit 166
Economic Value + Social Value 167
Profit Optimization 169
Production Value and Consumption Value 170
Social Progress 171
The Next Billion 172
Unilever 175
´´ STRATEGIC CSR DEBATE 178
Questions for Discussion and Review 178

CHAPTER 8 • Compliance and Accountability 179

Voluntary vs. Mandatory 179
Self-Interest 181
Behavioral Economics 184
Nudges 184
Accountability 186
Defining CSR 187
Measuring CSR 188
CSR Reporting 190
Step 1: Standardizing CSR 190
Step 2: Certifying CSR 194
Step 3: Labeling CSR 195
CSR Pricing 196
Lifecycle Pricing 197
´´ STRATEGIC CSR DEBATE 200
Questions for Discussion and Review 200

CASE STUDY: Investing 202

Socially Responsible Investing 204
Environmental, Social, and Governance 207
Values-Based Funds 210
Sin Funds 212
 Impact Investing 213
Social Impact Bonds 214
´´ STRATEGIC CSR DEBATE 216
Questions for Discussion and Review 217

NEXT STEPS 218

PART V • A STRATEGIC PERSPECTIVE 219

CHAPTER 9 • Strategy + CSR 220
Vision, Mission, Strategy, Tactics 221
Strategic Analysis 222
Resource Perspective 223
Industry Perspective 225
Integrating CSR 228
Strategy Formulation 229
CSR Threshold 231
Strategy Implementation 234
CSR Filter 234
´´ STRATEGIC CSR DEBATE 239
Questions for Discussion and Review 239

CHAPTER 10 • Strategic CSR 240

Defining Strategic CSR 241
CSR Perspective 241
Core Operations 243
Stakeholder Perspective 243
Optimize Value 245
Medium to Long Term 246
Strategic CSR Is Not an Option 249
Not Philanthropy 249
Not Caring Capitalism 251
Not Sharing Value 253
Strategic CSR Is Business 254
´´ STRATEGIC CSR DEBATE 256
Questions for Discussion and Review 257

CASE Study: Supply Chain 258

An Ethical Supply Chain 259
Fair Trade 259
An Unethical Supply Chain 263
Apple 265
 A Strategic Supply Chain 267
Starbucks 269
´´ STRATEGIC CSR DEBATE 272
Questions for Discussion and Review 272

NEXT STEPS 273

PART VI • A SUSTAINABLE PERSPECTIVE 275

CHAPTER 11 • Sustainability 276
Sustainable Development 276
COP21 279
COP24 280
Sustainability in Practice 281
Climate Change 281
Resilience 283
Natural Capital 284
Stakeholders 286
Waste 289
e-Waste 290
Plastic 293
Beyond Sustainability 296
´´ STRATEGIC CSR DEBATE 297
Questions for Discussion and Review 297

CHAPTER 12 • Sustainable Value Creation 298

Values, Morals, and Business Ethics 299
Value Creation 302
Conscious Capitalism 304
Values-Based Business 306
Strategic CSR Is Good Business 312
´´ STRATEGIC CSR DEBATE 315
Questions for Discussion and Review 315

FINAL THOUGHTS 316

APPENDIX • Implementing CSR 320

Strategic Planning 320
Short- to Medium-Term Implementation 321
Executive Leadership 322
Board Support 323
CSR Officer 323
Vision, Mission, and Values 324
 Performance 326
Integrated Reporting 327
Ethics Code and Training 329
Ethics Helpline 331
Medium- to Long-Term Implementation 332
Stakeholder Engagement 332
Marketing 334
Corporate Governance 334
Social Activism 335
The Socially Responsible Firm 336

Notes 339
Index 420
About the Author 437
 LIST OF FIGURES

PREFACE
Figure P.1 Bloom’s Taxonomy of Learning xxxii

PART I • CORPORATE SOCIAL

RESPONSIBILITY
Figure 1.1 The Corporate Social Responsibility Hierarchy 5
Figure 1.2 The Evolution of CSR 10

Figure 2.1 The Four Phases of Stakeholder Access to Information 28

Figure 2.2 Globalization in Two Phases of Empowerment 30
Figure 2.3 The Free Flow of Information 31

Figure I.1 Religion in the United States (2001–2017) 41

Figure I.2 Religion in the United Kingdom (2001–2018) 42

PART II • A STAKEHOLDER PERSPECTIVE

Figure 3.1 Concentric Circles of Stakeholders 60
Figure 3.2 Analyzing Issues 65
Figure 3.3a Prioritizing among Issues 66
Figure 3.3b Prioritizing among Stakeholders 66
Figure 3.4 The Five Steps of Stakeholder Management 69

Figure 4.1a The Firm and Stakeholders as Independent Actors 81

Figure 4.1b The Firm and Stakeholders as Integrated Actors 81
Figure 4.2 The Strategic CSR Window of Opportunity 82
Figure 4.3 The CSR Sweet Spot vs. Danger Zone 85
Figure 4.4 The Honesty and Ethics of Business Executives (1990–2017) 86
Figure 4.5 Willingness to Pay for CSR (2011–2014) 87
Figure 4.6 Stakeholder Responsibilities 93

Figure II.1 Fines Paid by US Banks (2010–2013) 101

xiv  
PART III • A LEGAL PERSPECTIVE
Figure 5.1 Rights, Responsibilities, and Self-Interest 113
Figure 5.2 S&P 500 Incorporations by State (US, 2016) 120

Figure 6.1 Primary vs. Secondary Markets for Securities 130

Figure 6.2 Shareholder Rights in the United States 134

Figure III.1 Hours Spent Online Daily (US, 2015) 154

PART IV • A BEHAVIORAL PERSPECTIVE

Figure 7.1 The Four Levels of Global Income (2018) 173
Figure 7.2 Unilever—The Sustainability Leader (2018) 177

Figure 8.1 The Evolution of CSR Reporting 192

Figure 8.2 The Product Lifecycle 197

Figure IV.1 Timeline of SRI and Impact Investing 206

Figure IV.2 Global Growth of ESG-Themed ETFs (2011–2017) 208
Figure IV.3 SIBs by Country (2017) 215

PART V • A STRATEGIC PERSPECTIVE

Figure 9.1 Porter’s Five Competitive Forces 226
Figure 9.2 The Business-Level CSR Threshold 233
Figure 9.3 Strategy Formulation vs. Strategy Implementation 234
Figure 9.4 Operational Constraints and the CSR Filter 235

Figure 10.1 Porter and Kramer’s Strategy and Society Model 242
Figure 10.2 The Difference between CSR and Strategic CSR 255
Figure 10.3 Mainstream CSR vs. Strategic CSR 256

Figure V.1 Fairtrade Retail Sales by Country (2017, €mn) 261

Figure V.2 Ripples of Responsibility across the Supply Chain 267

PART VI • A SUSTAINABLE PERSPECTIVE

Figure 11.1 Sustainability vs. Strategic CSR 277
Figure 11.2 Total Carbon Emissions by Country (2015) 282
Figure 11.3 The Carbon Footprint of Tropicana Orange Juice 287
Figure 11.4 Total e-Waste in the United States 292
Figure 11.5 Annual Global Plastic Production (1950–2015) 294

List of Figures  xv
 Figure 12.1 Objective + Subjective Value 302
Figure 12.2 Strategic CSR + Value Creation 304
Figure 12.3 Strategic Decision Making in a Values-Based Business 309

APPENDIX: IMPLEMENTING STRATEGIC CSR

Figure A.1 The Triple Bottom Line 329
Figure A.2 Lobbying Spending in the US (1998–2017) 333
Figure A.3 A Firm’s CSR Plan of Implementation 337

xvi  STRATEGIC CORPORATE SOCIAL RESPONSIBILITY

GLOSSARY

C onsistent definitions, rhetoric, and vocabulary are the entry point to understanding
any discipline, yet they remain fiercely debated in the field of corporate social respon-
sibility (CSR). As such, the range of terminology used can be a source of confusion for
executives, academics, journalists, and other students of CSR. Ostensibly part of the
same discussion, for example, it is common to see CSR referred to in numerous ways:

•• “Corporate responsibility” or “corporate citizenship”

•• “Conscious capitalism” or “sustainable business”
•• “Corporate community engagement” or “strategic philanthropy”
•• “Sustainability” or “corporate environmental responsibility”
•• “Corporate social performance” or “corporate social strategy”

Often, different terms are being used to mean similar things, yet heated debates can
sprout from semantic subtleties. In order to clarify some of this confusion and provide a
consistent vocabulary with which to read this book, brief definitions of key concepts are
provided in this glossary.

CSR TERMS
These terms are discussed in the CSR literature (some more widely than others) and
referred to throughout this book.

Accountability: The extent to which a firm attends to the needs and demands of its stakeholders
(see Transparency).
Activism: Actions (e.g., campaigns, boycotts, protest) by individuals, nonprofit organizations, or
NGOs designed to further social, political, or environmental goals.
Advocacy advertising: Efforts by firms to communicate social, environmental, or political posi-
tions to stakeholders (see Cause-related marketing).
Anthropocene: A new geological epoch, estimated to have begun in 1950, due to the effects of
human behavior on the planet’s ecosystem. It replaces the Holocene epoch.
Aspirational recycling: “People setting aside items for recycling because they believe or hope
they are recyclable, even when they aren’t” (see Recycling).1

xvii
 Attention economy: A business model that depends on the amount of time spent with the
­product, such as an app, often underwritten by advertising revenue.
Badvertising: Advertising, marketing, or PR activities by a firm that promote socially irresponsible
behavior, often generating a backlash by stakeholders.
Balanced scorecard: A means of measuring the impact of a business across multiple stakeholder
groups.
B Corp: A certification awarded to firms that meet specific standards of transparency and account-
ability set by the nonprofit B Lab (http://www.bcorporation.net/).
Benefit corporation: A type of legal structure for businesses (http://benefitcorp.net/) that is
available only in those US states that have passed benefit corporation legislation.
Behavioral biometrics: A collection of unique online behaviors, gathered surreptitiously via a
phone or keyboard, which can be used to confirm an individual’s identity.2
Biodiversity: The variety of species alive on Earth.

Bottom of the pyramid: A concept introduced by C. K. Prahalad and Stuart L. Hart that dis-
cusses the market potential for firms among the poorest societies.3
Brand hijacking: When an antisocial or otherwise offensive/peripheral group becomes associated
with a firm’s product or service, without the express permission of that firm.
Business citizenship: Socially oriented actions by firms designed to demonstrate their role as
constructive members of society.
Business ethics: The application of ethical theory to organizational decision making.

Cap-and-trade: A market established to buy and sell the right to emit carbon. It is underwritten
by government-issued credits and is designed to limit the total amount of carbon in the atmosphere.
Carbon budget: The amount of carbon that can safely be emitted, by all countries combined,
before the damage to the planet’s climate becomes too severe.
Carbon capture: A range of technological innovations designed to remove carbon from the
Earth’s atmosphere.
Carbon footprint: A firm’s total emissions of carbon-related greenhouse gases, often measured in
terms of tons of carbon or carbon dioxide (see Greenhouse gas).
Carbon insetting: A firm’s integration of sustainable practices directly into the supply chain to
take responsibility for its carbon emissions (see Carbon offsetting).
Carbon intensity: A measure of a firm’s environmental impact that is calculated by dividing car-
bon emissions by annual sales.
Carbonivore: An organization or technology that removes more carbon from the air than it emits,
“either storing it, turning it into a useful product or recycling it.”4
Carbon negative emissions: The extraction from the atmosphere of previously emitted carbon
via technology such as solar geoengineering.
Carbon-neutral: A state when a firm’s net carbon emissions are zero. This is achieved by offsetting
existing emissions with carbon reduction efforts (see Net positive).

xviii  STRATEGIC CORPORATE SOCIAL RESPONSIBILITY

Carbon offsetting: A firm’s reduction of its carbon footprint by paying for environmentally ben-
eficial behavior by a third party (see Carbon insetting).
Carbon trading: See Cap-and-trade.

Cash mob: A group of community members who use social media to assemble at a given date and
time to spend money in support of a local business.
Cause-related marketing: Efforts to gain or retain customers by tying purchases of a firm’s
goods or services to the firm’s philanthropy (see Advocacy advertising).
Circular economy: A means to reduce waste via greater efficiency or by reuse, repair, or recycling
(see Cradle-to-cradle).
Civic engagement: Efforts by a firm to improve a local community.

Clicktivism: A form of protest that is conducted online via social media.

Climate change: The term used to describe the effect of human economic activity on the planet’s
atmosphere and weather systems.
Climate finance: Investments designed to generate carbon-neutral outcomes.

Closed-loop recycling: Products recycled into the same product (e.g., plastic bottles recycled
into more plastic bottles)—retaining quality, rather than downcycling, where quality deteriorates (see
Downcycling).
Closed-loop sourcing: Utilizing existing materials to create zero waste (see Circular economy).

Coalitions: Collections of organizations, stakeholders, or individuals who collaborate to achieve

common goals.
Cobot: A robot that is designed to complement people at work, rather than replace them—“a col-
laborative robot.”5
Compliance: Actions taken by firms to conform to existing laws and regulations.

Conscious capitalism: An economic system based on four principles that encourage the devel-
opment of values-based businesses: higher purpose, stakeholder orientation, conscious leadership, and
conscious culture (see Values-based business).
Conscious consumer: A customer “who considers the social, environmental, ecological, and
political impact of their boycott and boycott actions.”6
Conspicuous virtue: Consumption intended to demonstrate not wealth (“conspicuous consump-
tion”) but “innate goodness.”7
Consumer activism: Efforts by customers to have their views represented in company policies
and decision making. Organized activism is more likely referred to as a “consumer movement,” which
can advocate for more radical changes in consumer laws.
Consumer boycott: Customers who avoid specific industries, firms, or products based on perfor-
mance metrics or issues that they value.
Consumer buycott: Customers who actively support specific industries, firms, or products based
on performance metrics or issues that they value.
Corporate citizenship: See Business citizenship.

Glossary  xix
 Corporate philanthropy: Contributions by firms that benefit stakeholders and the community,
often made through financial or in-kind donations to nonprofit organizations.
Corporate responsibility: A term similar in meaning to CSR, but preferred by some firms
because it de-emphasizes the word social.
Corporate social opportunity: A perspective that emphasizes the benefits to firms of adopting
CSR, mitigating the perception of CSR as a cost to business.8
Corporate social performance: The benefits to the firm (often measured in traditional finan-
cial or accounting metrics) gained from implementing CSR.
Corporate social responsibility (CSR): A responsibility among firms to meet the needs of
their stakeholders and a responsibility among stakeholders to hold firms to account for their actions.
Corporate social responsiveness: Actions taken by a firm to achieve its CSR goals in response
to demands made by specific stakeholder groups.
Corporate stakeholder responsibility: A responsibility among all of a firm’s stakeholders to
hold the firm to account for its actions by rewarding behavior that meets expectations and punishing
behavior that does not meet expectations.
Corporate sustainability: Business operations that can be continued over the long term without
degrading the ecological environment (see Sustainability).
Cradle-to-cradle: A concept introduced by William McDonough that captures the zero-waste,
closed-loop concept of the circular economy (see Circular economy).9
CSR deficit: The difference in stakeholder value created between what is theoretically possible
and what is actually created by the firm. The deficit can be calculated as an aggregate amount across
all stakeholders, or within each stakeholder group.
CSR Threshold: The point beyond which the need to be responsive to a broader set of stakehold-
ers becomes essential to the survival of the firm and/or industry.
Deindustrialization: A process of industrial decline in one country, often due to the outsourcing
of production to another part of the world.
Digital philanthropy: Donations to a charitable cause or disaster relief made possible by Internet
technology, often via mobile devices.
Downcycling: A recycling process that reduces the quality of the recycled material over time (see
Recycling and Upcycling).
Eco-efficiency: An approach to business that is characterized by the need to “do more with less”
and popularized by the phrase “reduce, reuse, recycle.”
Ecopreneur: An entrepreneur who utilizes for-profit business practices to achieve environmental
goals (see Social entrepreneur).
Ecosystem: A self-sustaining community.

Enlightened self-interest: The recognition that firms can operate in a socially conscious manner
without forsaking the economic goals that lead to financial success.
Ethics: A guide to moral behavior based on social norms and culturally embedded definitions of
right and wrong.

xx  STRATEGIC CORPORATE SOCIAL RESPONSIBILITY

E-waste: Toxic pollutants that are a byproduct of discarded consumer electronic goods, such as
televisions, computers, and smartphones.
Extended producer responsibility: Ownership of a product and its environmental conse-
quences, up and down the supply chain.10
Externality: See Externality under “Strategy Terms.”

Fair trade: Trade in goods at prices above what market forces would otherwise determine in order
to ensure a living wage for the producer (see Living wage).
Freecycling: A process by which items that are no longer needed are donated to others who can
put them to productive use (see Recycling).
Garbology: The study of what humans throw away.11

Gig economy: A metaphor for the evolving nature of work that is characterized by short-term,
insecure gigs performed by self-employed freelancers or micro-entrepreneurs and traded online (see
Sharing economy).12
Glass cliff: Similar to a glass ceiling, which constrains success, the glass cliff is a “theory that holds
that women are often placed in positions of power when the situation is dire . . . and the likelihood
of success is low.”13
Global change: The combination of change to the climate and other natural features of the planet,
such as the soil and the sea (see Climate change).
Global Compact: A United Nations–backed effort to convince corporations to commit to multi-
ple principles that address the challenges of globalization.14
Globalization: The free flow of people, ideas, trade, and finance around the world.

Global Reporting Initiative (GRI): A multi-stakeholder organization designed to produce a

universal measure of a firm’s CSR efforts.
Global warming: See Climate change.

Glocalization: “Dealing with big global problems through myriad small or individual actions.”15

Grassroots: A social movement that originates among individuals and grows upward.

Greenhouse gas: A gas that pollutes the atmosphere by trapping heat, causing average tempera-
tures to rise (e.g., carbon dioxide; see Carbon footprint).
Green noise: “Static caused by urgent, sometimes vexing or even contradictory information [about
the environment] played at too high a volume for too long.”16
Greenwash: “The act of misleading consumers regarding the environmental practices of a com-
pany or the environmental benefits of a product or service”17 (see Pinkwash).
Gross National Happiness (GNH): An attempt, most advanced in the Kingdom of Bhutan,
to replace gross domestic product (GDP) as the primary measure of an economy’s health and
well-being.18
Human rights: Freedoms that are an integral element of what it is to be human.19

Impact investing: A variety of investment tools (e.g., mutual funds, low-interest loans, and bonds)
that seek to solve social problems not previously addressed by market forces. The measurement of
outcomes/impact is emphasized (see Social finance).

Glossary  xxi
 Inclusive capitalism: The idea that “those with the power and the means have a responsibility to
help make society stronger and more inclusive for those who don’t.”20
Individual social responsibility: The application of CSR concepts to the individual.

Integrated reporting: The publication of a firm’s economic, environmental, and social perfor-
mance in a unified document (see Triple bottom line).
Intrapreneurship: A combination of the terms innovation and entrepreneur to capture innovative
behavior within a large, bureaucratic organization.
Iron Law of Social Responsibility: The axiom that those who use power in ways society deems
abusive will eventually lose their ability to continue acting in that way.21
Islamic finance: An investment philosophy guided by sharia law, which prohibits the investment
of funds in firms that generate “the majority of their income from the sale of alcohol, pork products,
pornography, gambling, military equipment or weapons.”22
Leanwashing: Advertising by food- or nutrition-related companies that misleadingly suggests a
product is healthy (e.g., using terms such as natural on labels).
Lifecycle pricing: An economic model designed to minimize waste by including the total costs of
a product or service in the price that is charged to the customer.
Living wage: A level of pay intended to meet an employee’s basic living standards, above subsis-
tence levels. A living wage, which is culturally embedded, is usually set at a higher level than a minimum
wage, which is legally defined (see Fair trade).
LOHAS: An acronym that stands for “lifestyles of health and sustainability.”

Microfinance: A range of personal financial services (e.g., loans, accounts, insurance, and money
transfers) provided on a smaller scale to meet the specific needs of poorer consumers and structured
to encourage entrepreneurship (see Social finance).
Moral hazard: To take risk in search of personal benefit where the consequences of that risk are not
borne by the individual. The effect is to privatize gains and socialize losses.
Natural capital: The stock of all resources that exist in the natural environment.

Natural corporate management (NCM): A business philosophy “based upon genetic, evolu-
tionary, and neuroscience components that underlie and help drive corporate management, including
behavior, organizational, and eco-environmental relationships.”23
Net positive: An effort by a firm to ensure that it draws on few or no virgin natural resources in its
operational processes (see Carbon-neutral).
Nongovernmental organizations (NGOs): Organizations that operate with a legal and
accounting structure that allows them to pursue political, environmental, and/or social goals without
the need to generate a profit (see Nonprofits).
Nonprofits: Nonprofits are similar to NGOs but often differ by having a domestic, rather than an
international, focus (see Nongovernmental organizations).
Organic: A method of producing food without using pesticides, chemical fertilizers, or other indus-
trial aids; designed to promote ecological balance and preserve biodiversity.
Pastorpreneur: A religious figure who applies business principles to a church or related religious
activity, or who applies religious principles to a business.

xxii  STRATEGIC CORPORATE SOCIAL RESPONSIBILITY

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 Italy and the New Order

For many centuries Italy has been known as producing the opera
of the world. Of late years opera has not been considered the highest
form of musical art, so with the coming of the 20th century, a group
of composers has been working in Italy, trying to get away from the
old opera writing and to develop along the line of orchestral and
chamber music.
Alfredo Casella (1883) is perhaps responsible for this movement
for he lived in Paris for many years and came in contact with
Debussy’s music and the modern movement there. One of his earliest
works to attract attention in America was War Films, a series of
orchestral pictures that were very real. He has written piano pieces,
chamber music and orchestral works and one of his latest is a ballet,
in which it looks as though he were leaving his path of dissonance for
in this he has used folk song as a basis for a new and delightful
expression.
G. Francesco Malipiero (1882) has written two string quartets, one
of which received the Coolidge Prize of the Berkshire Chamber Music
Festival; in these he has broken away from the large sonata form. He
has also written lovely songs.
Ildebrando Pizzetti (1880) has written two operas on texts by
Gabrielle d’Annunzio called La Nave (The Ship) and Fedra. His most
recent work, Fra Ghirardo was performed at the Metropolitan in
1929.
Ottorino Respighi (1879) wrote operas in true Italian fashion, but
deserted them for chamber music and orchestral works. Pines of
Rome and Fountains of Rome, we hear often. His Violin Concerto in
Gregorian Mode was played by Albert Spalding. His latest opera, La
Campana Sommersa (The Sunken Bell) was given at the
Metropolitan in 1928.
All these men show the traces of the Italian love of melody, with
the influence of French impressionism, and German romanticism.
Two or three of these modern Italians now live in Paris, among
them Santoliquido and Vincenzo Davico, both song writers.
And now Noah’s Ark has been put to music by a young Italian,
Vittorio Rieti with wit and humor, in a work for orchestra, played in
May, 1925, at the Prague Festival.
 Manuel de Falla

In Spain, one man who has continued along the lines of Albeniz
and Granados is Manuel de Falla (1876). He studied first with Felipe
Pedrell, the father of the modern Spanish school. In 1907 he went to
Paris where he met Debussy and Dukas. He wrote a ballet El Amor
Brujo (Love, the Magician). He combines a picturesque Spanish folk
style with a modern way of writing music. One of his most attractive
works is a scenic arrangement from a chapter in Don Quixote,
Cervantes’ masterpiece, as Spanish as a Spanish fandango. It is a
marionette ballet called El Retablo de Maese Pedro (Master Pedro’s
Puppet Show). It is a charming work and you will like it. His writings
have simplicity, and freshness, which can come only from deep study
and so perfect a mastery of art that there is no self-consciousness. He
is a true nationalist delighting in Spanish color; his music has
nobility and humanness as well as charm.
 The Netherlands

Clarence G. Hamilton says in his Outlines of Music History that

Netherland composers are patriotically laboring for a distinctive
school. Few names are known outside of Holland, with the exception
of Alphonse Diepenbroek (1862–1921), Dirk Schaefer (1874), Sem
Dresden (1881), James Zwart (1892), Julius Roentgen (1855), who
has collected many of the Dutch folk songs, and Dopper, conductor
and composer for orchestra.
In Belgium, Jan Blockx (1851–1912) wrote successful operas and
chamber music; Paul Gilson (1865) has written orchestral and
chamber music works which have won him a foremost place among
modern Flemish composers; both César Franck and Guillaume
Lekeu were Flemish (Belgian); Joseph Jongen, while not writing in
the very modern style, is well known for his symphonic poems,
chamber music, a ballet S’Arka (produced at the Théâtre de la
Monnaie, Brussels), songs, piano pieces and organ works.
 Switzerland

Jaques Dalcroze (1865) is better known as the inventor of

Eurythmics, a system of music study from the standpoint of rhythm,
than as composer, but he has written many charming songs in folk
style. Gustave Doret (1866), has written several operas, cantatas,
oratorios which have been performed in his native land and in Paris.
Hans Huber (1852) has a long list of compositions in all forms.
Ernest Bloch, though born in Switzerland is living in America and is
by far the greatest innovator of these Swiss writers. Emile Blanchet,
is a writer of piano music, rather more poetic than of the very
modern style. Arthur Honegger, the foremost young composer of
France, though born in Havre, is often claimed as a Swiss composer,
because his parents are Swiss. Rudolph Ganz, pianist, composer and
conductor in America was born in Switzerland.
 England

When we come to Frederick Delius (1863) we meet first with a new

feeling in English music. He has written orchestral pieces (Brigg
Fair, concertos, On Hearing the First Cuckoo in Spring), chorals
(Appalachia, The Song of the High Hills and others), chamber music
and songs. He was the first Englishman to write in the
impressionistic way. His opera The Village Romeo and Juliet is very
modern in form, and the music interprets the story and is not built
like the Italian operas.
Delius is of Dutch-French-German stock, but was born in England,
and has lived there and in France. He never tried for music posts or
prizes but has remained apart to compose. Though his work often
sounds like the 18th century virginal music, he is not conscious of it.
He has, in his chorals, done some of the best work since
Beethoven, says one biographer, and in them are strength, power
and beauty, quite different indeed from the sensuous and sweet
smaller works. He is a careful worker, a great idealist, and a truly
great musician.
There are many well-trained musicians like Holbrooke and
Hurlstone who have done much for music in England but this
chapter belongs to those who are carrying on 20th century ideas.
Among them is Vaughan Williams (1872) to whom folk music is as
bread to others. He uses it whenever he can. In his London
Symphony, his most famous work, he has caught the spirit of the city
and it is a milestone of the early 20th century. Isn’t it curious that the
most important work written on the poetry of our American Walt
Whitman is by an Englishman! This is the Sea Symphony for
orchestra and chorus, an impressive work by Vaughan Williams. He
has also written Five Mystical Songs, Willow Wood (cantata), On
Wenlock Edge (six songs), Norfolk Rhapsodies, In the Fen Country.
Granville Bantock (1868) is a musical liberator for he was the first
to free English composers from the old style of Mendelssohn and the
new kind of classicism of Brahms, and release them to write as they
felt. He wrote music on the Rubaiyat of Omar Khayyam (Persian),
Sappho, Pierrot of the Minute, Fifine at the Fair, Hebredean
(Scotch) Symphony, which shows his love of Scotch music, and many
other works. He succeeded Elgar at Birmingham University and has
made valuable studies and collections of Folk Music.
A lover of chamber music, the fantasy and fancy, is Frank Bridge
(1879). He is a thorough musician and has written The Sea, the
Dance Rhapsodies for orchestra, symphonic poem Isabella on Keats’
poem of the same name. Three Idylls for Strings and other works.
Gustave Holst (1874) whose original name was von Holst although
he is not of German descent, was a pupil of Sir Charles V. Stanford
and is now an inspiring teacher and conductor. He has had many
posts and has written many important works: an opera, The Perfect
Fool, the Hymn to Jesus, one of the finest choral works of the
century, The Planets, a very fine orchestral work, military band
music, songs and part songs, some of which are written with violin
accompaniment,—a charming idea!
John Ireland (1879), has written a fine piano sonata and a violin
sonata, Decorations (a collection of small pieces), Chelsea Reach,
Ragamuffin and Soho Forenoons, chamber music and orchestral
pieces.
Cyril Scott (1879) was trained in Germany. He is a mixture of
French impressionistic writing and Oriental mysticism, as you can
see from the titles of his pieces: Lotus Land (Lotus is an Egyptian
flower), The Garden of Soul Sympathy, and Riki Tiki Tavi, a setting
of Kipling’s little chap of the Jungle Book, which is very delightful.
He is one of the first English Impressionists who paved the way for
the young English School. He has made many interesting
experiments in modern harmony and rhythm.
Arnold Bax (1883), of Irish parentage, is a gifted and poetic
composer who has written many things in small and large forms,
chamber music and piano sonatas, The Garden of Fand for
orchestra, Fatherland, a chorus with orchestra and other things, all
of which show him to have a creative imagination and rich musical
personality.
Lord Berners (1883) (Gerald Hugh Tyrwhitt-Wilson), a lover of the
works of Stravinsky and Casella of the modern Russian and Italian
Schools, was trained in an old-fashioned way, and then Stravinsky
and Casella, seeing in his music possibilities for freer writing,
encouraged him to break away from old ways, and he became one of
the most modern of the young English composers. He writes
interestingly in caricature and sarcasm, in fact he is a musical
cartoonist in such pieces as the Funeral March of a Pet Canary,
Funeral March of a Rich Aunt, full of originality and of fun in
choosing subjects. He wrote, too, three pieces, Hatred, Laughter and
A Sigh which are amazing musical studies. His work is interesting
because of its daring in his very correct surroundings.
Eugene Goossens (1893) of Flemish ancestry, understands
dissonance and modern combinations, which he uses with
fascinating charm. His violin sonata and Nature Pieces for piano
show his depth of feeling, his Kaleidescopes (12 children’s pieces)
show his humor, love of the grotesque, and Four Conceits, his power
to be musically sarcastic. His Five Impressions of a Holiday and
Two Sketches for String Quartet are so delightful that modern music
would have lost much without them. He is a gifted conductor and has
directed concerts in London, in Rochester, New York, and is engaged
as guest conductor of the New York Symphony in 1925–26.
Arthur Bliss (1891) like Stravinsky, whom he admires, is the enfant
terrible of English music and is not held down by any rule or fixed
standards except that of good taste. He uses instruments in daring
ways, and shows a natural knowledge of them. One of his pieces is
for an unaccompanied Cor Anglais (English horn). Among his pieces
are The Committee, In the Tube (Subway) at Oxford Circus, At the
Ball. He wrote a Color Symphony, so-called because when
composing it, he experienced a play of color sensation, although he
did not write it to be used with the color organ, as does Scriabin in
Prometheus. He is a most daring experimenter, and altogether an
interesting young musician. In Rout, a gay piece for voice and
chamber orchestra, he used meaningless syllables in place of words.
He spent several years in Los Angeles, but has returned to England.
 America

In America we not only hear the works of all the people of whom
we have spoken in this chapter, but among our composers are a few
who show marked twentieth century ways of composing. Some of
them are American born, some have adopted the country, but all are
working for the advancement of American music: Loeffler, our first
impressionist, Bloch, Carpenter, Gruenberg, Whithorne, Morris,
Jacobi, Marion Bauer, Eichheim, Carl Engel, Ornstein, Varese,
Salzedo, Ruggles, Cowell, Antheil, and Copland.
Several organizations have worked for the cause of modern music
by presenting concerts devoted to works by contemporary Europeans
and Americans. The Pro Musica Society has been responsible for the
visits to this country of Maurice Ravel, Bela Bartok, Darius Milhaud,
Alexandre Tansman and Arthur Honegger.
The League of Composers (founded 1923) has had many notable
“first performances” of compositions by Schoenberg, Bloch, Bartok,
Stravinsky, Gruenberg, Malipiero, Hindemith, Copland, de Falla,
Whithorne, Carrillo, etc.
 Our Good-Bye

This book has been longer than it should have been, yet our sins
have been of omission rather than commission. But if we have only
made you realize that the world cannot stand still, that music is
always growing whether we understand it or not, and the good is
handed on to the next generation even though much “falls by the
wayside,” we will not have written in vain.
 SOME OF THE BOOKS WE CONSULTED

Afro-American Folk Music, H. E. Krehbiel. (Schirmer, 1914.)

The History of American Music, Louis C. Elson. (Macmillan Co.)
Music in America, Dr. Frederick Louis Ritter. (Charles Scribner’s
Sons, 1890.)
My Musical Life, Walter Damrosch. (Charles Scribner’s Sons,
1923.)
Stephen Collins Foster, Harold Vincent Milligan. (G. Schirmer,
1920.)
Francis Hopkinson and James Lyon, Two Studies in Early
American Music, O. G. Sonneck. (Printed by the Author in
Washington, D. C., 1905.)
Early Concert-Life in America (1731–1800), O. G. Sonneck.
(Leipsic, Breitkopf & Haertel, 1907.)
Musicians of Today, Romain Rolland. (Henry Holt, 1917.)
La Musique Française d’aujourd’hui, Jean Aubry. (Perrin & Cie.)
The History of Pianoforte Music, Herbert Westerby. (E. P. Dutton
& Co.)
Gustav Mahler, Paul Stefan. (G. Schirmer.)
The Symphony Since Beethoven, Felix Weingartner. (Oliver Ditson
Co., 1904.)
Voyage Musical au Pays du Passé, Romain Rolland. (Librairie
Hachette & Sons, Ltd., 1909.)
Modern Composers of Europe, Arthur Elson. (Sir Isaac Pitman
Sons, Ltd., 1907.)
The Player-Piano Up-to-Date, William Braid White. (Edward
Lyman Bill.)
Outlines of Music History, Clarence G. Hamilton. (Oliver Ditson
Co.)
The Romantic Composers, Daniel Gregory Mason. (Macmillan Co.)
Contemporary Russian Composers, M. Montagu-Nathan.
(Frederick A. Stokes Co.)
The Story of Music, W. J. Henderson. (Longmans, Green & Co.,
1889.)
Histoire Generale de la Musique, François Joseph Fetis.
Primitive Music, R. Wallaschek.
Grove’s Dictionary of Music and Musicians. (Macmillan & Co.)
Music of the Most Ancient Nations, Carl Engel. (South Kensington
Museum Art Handbooks.)
American Primitive Music, Frederick R. Burton.
The Art of Music: A Narrative History of Music. (D. G. Mason,
Editor-in-Chief.)
Music: Its Laws and Evolution, Jules Combarieu. (Paul, Trench,
Trübner & Co., 1903.)
Histoire de la Musique, Felix Clement.
History of Music, Emil Naumann.
Marcotone, Edward Maryon.
Mythology: Age of Fable, Bulfinch.
History of Music, W. J. Baltzell. (Theo. Presser.)
History of Rome, Dionysius Cassius.
Metropolitan Museum of Art Handbook No. 13.
Catalogue of Musical Instruments of All Nations.
Familiar Talks on the History of Music, A. J. Gantvoort. (G.
Schirmer.)
Analysis of the Evolution of Musical Form, Margaret H. Glyn.
(Longmans & Co.)
La Musique Grégorienne, Dom Augustin Gatard.
The Music of the Bible, Sir John Stainer. (Novello & Co. H. W.
Gray.)
Critical and Historical Essays, Edward MacDowell. (A. P.
Schmidt.)
Histoire de la Musique, H. Lavoix fils. (Concienne Maison
Quantin.)
Early History of Singing, W. J. Henderson.
The History of British Music, Frederick J. Crowest.
Story of the Art of Music, F. J. Crowest. (Appleton’s.)
La Musique des Troubadours, Jean Beck. (Laurens.)
Story of Minstrelsy, Edmundstoune Duncan. (Scribner’s.)
Trouvères et Troubadours, Pierre Aubry. (Alcan.)
Lecture on Trouvères et Troubadours, Raymond Petit. (MS.)
Cours de Composition Musicale, Vincent d’Indy. (Durand et Cie.)
Encyclopédie de la Musique et Dictionaire du Conservatoire,
Albert Lavignac (fondateur). V Vols.
The Threshold of Music, William Wallace. (Macmillan Co.)
Palestrina, Michel Brenet. (Alcan.)
Monteverdi, Henry Prunières. (Alcan.)
Twelve Good Musicians, Frederick Bridge. (Kegan Paul, Trench,
Trübner & Co.)
Les Clavecinistes, André Pirro. (Laurens.)
Lully, Henry Prunières. (Laurens.)
The Earlier French Musicians (1632–1834), Mary Hargrave.
(Kegan Paul, Trench.)
A History of Music, Paul Landormy. (Translated, F. H. Martens.)
(Scribner’s).
Chippewa Music, Frances Densmore. (Smithsonian Institution
Bureau of American Ethnology.) (Bulletin 45.)
Teton Sioux Music, Frances Densmore. (Bureau of American
Ethnology.) (Bulletin 61.)
Alla Breve, Carl Engel. (G. Schirmer.)
Complete Book of the Great Musicians, Percy A. Scholes. (Oxford
University Press.)
Baker’s Biographical Dictionary of Musicians. (3rd. revised
Edition.) (G. Schirmer, 1919.)
Pianoforte and its Music, H. E. Krehbiel.
The Story of Music and Musicians, Lucy C. Lillie. (Harpers.)
Johann Sebastian Bach, Johann Nikolaus Forkel.
Irish Folk Music, Capt. Francis O’Neill. (1910, Regan Printing
House, Lyon & Healy, Chicago.)
Histoire et Theorie de la Musique de L’Antiquité, par Fr. Aug.
Gevaert, 1881.
Grand Opera Singers of Today, Henry C. Lahee. (The Page Co.,
Boston.)
Richard Strauss (Living Masters of Music), Ernest Newman.
(John Lane, The Bodley Head.)
Great Singers—Series 1, 2, George T. Ferris. (T. Appleton Co., N.
Y., 1893.)
Richard Strauss the Man and His Works, Henry T. Finck. (Little
Brown & Co.)
The History of the Art of Music, W. S. B. Mathews. (The Music
Magazine Pub. Co., Chicago, 1891.)
Haydn (The Great Musicians), Pauline D. Townsend. (Samson,
Marston & Rivington, 1884.)
Mozart (The Great Musicians), Dr. F. Gehring. (Scribners, 1883.)
The World of Music, Anna Comtesse de Bremont. (Brentano’s,
1892.)
Contemporary Musicians. Cecil Gray. (Oxford University Press,
1924.)
Music and Its Story, R. T. White. (Cambridge University Press,
1924.)
Evolution of the Art of Music, C. Hubert H. Parry. (Appleton,
1896.)
Modern Composers of Europe, Arthur Elson. (Sir Isaac Pitman &
Son Ltd., London, 1909.)
One Hundred Folk Songs of All Nations, Granville Banstock. (G.
Schirmer.)
Sixty Patriotic Songs of All Nations, Granville Banstock. (G.
Schirmer.)
The Life of Ludwig van Beethoven, Alexander Wheelock Thayer.
Translated by H. E. Krehbiel. (Beethoven Association, 1921.)
Complete Opera Book, Gustave Kobbé. (G. P. Putnam’s Sons,
1924.)
In the Garret, Carl Van Vechten. (Alfred Knopf, 1920.)
The Music and Musical Instruments of the Arab, Francisco
Salvador Daniel.
Songs of the Russian People, Kurt Schindler.
Appreciation of Music, Thomas Whitney Surette and Daniel
Gregory Mason.
My Favorite Folk Songs, Marcella Sembrich. (Oliver Ditson Co.)
One Hundred Folk Songs, Cecil Sharp. (Oliver Ditson Co.)
Sixty Russian Folk Songs, Kurt Schindler and Deems Taylor. (G.
Schirmer Co.)
Russian Folk Songs, M. Balakirev. (M. P. Belaieff, Leipsic.)
Old Irish Folk Music and Song, P. W. Joyce. (Longmans, Green
Co.)
Ancient Irish Music, P. W. Joyce. (Longmans, Green Co.)
English Melodies, Vincent Jackson. (J. M. Dent & Son L’t’d, 1910.)
Songs Every Child Should Know, Dolores M. Bacon. (Doubleday
Page, 1906.)
The Orchestra and Its Instruments, Esther Singleton. (The
Symphony Society of New York, 1917.)
Reminiscences of Morris Steinert, Jane Marlin. (G. P. Putnam’s
Sons, 1900.)
Edward MacDowell, Lawrence Gilman. (John Lane, 1906.)
The Study of Folk-Songs, Countess Martinengo-Cesaresco. (E. P.
Dutton & Co.)
A History of Music, Sir Charles Villiers Stanford-Cecil Forsyth.
(The Macmillan Co., 1924.)
The History of Music, Waldo Selden Pratt. (G. Schirmer, 1907.)
The New Encyclopedia of Music and Musicians, Waldo Selden
Pratt, Editor. (The Macmillan Co., 1924.)
Ancient Art and Ritual, Jane Harrison. (Henry Holt & Co., 1913.)
Der Auftakt (Czecho-Slovakian Magazine). (Festival No., May,
1925).
Musical Quarterly, O. G. Sonneck, Editor. (G. Schirmer, April,
1924.)
German Music of the Last Decade, by Hugo Leichtentritt. League
of Composer Review. (New York.)
Franco-American Musical Society Bulletin. Ely Jade, Editor, (N.
Y.)
Book of American Negro Spirituals. James Weldon Johnson.
(Viking Press, N. Y.)
Miniature Essays. (J. & W. Chester, Ltd.)
Program Notes of the Philharmonic Society of New York.
Lawrence Gilman.
La Revue Musicale. Henry Prunières, Editor. (Paris.)
The Sackbut, Ursula Greville, Editor. (London.)
Musical America. (New York.)
Musical Courier. (New York.)
Musical Leader.
Some Music Writers According to Forms of
Composition
Troubadours and Trouvères
 Troubadours

(12th Century)

Guillaume d’Aquitaine
Bernart de Ventardorn
Bertran de Born
Richard the Lion-Hearted (1169–99)
Peire Vidal
Le Moine de Montaudon (The Monk of)
Guiraut de Borneil (Maestre dels trobadors)
Gaucelm Faidit (Jongleur)

(12th and 13th Centuries)

Peire Cardinal

(13th Century)

Pierre Mauclerc (Duke of Bretagne)

Uc de Saint-Circ
Thibaut de Champagne (King of Navarre)
Jean Bretel
Adam de la Hale
Guillaume de Machaut