The ruling economic paradigm has it that markets
– whether global or national – are about efficiency in
resource allocation, about competition as a source
of economic dynamism, about productivity gains
that translate into lower costs and/or higher quality.
Companies, through seeking to maximise their profits,
ensure that economies grow, consumer demand
is met and economic development processes are set
in motion. Where, however, does this leave issues
related to corporate responsibility? Is the business
of business to generate profi ts no matter under what
conditions, or does the business agenda encompass
human, environmental and social dimensions? And
if so, are these dimensions tantamount to additional
costs, or can they be a source of competitiveness and
thus market access?
In a signifi cant political move, the European Commission
has designated 2005 as the year of corporate
social responsibility in European Union countries.
Likewise, individual EU member states have taken
important steps, such as the UK appointing a Minister
for CSR within the Department for Trade and Industry,
France legally requiring companies to include social