As straightforward as this defi nition seems, CSR can
be a diffi cult concept to grasp because different people
have different beliefs as to which actions improve society’s
welfare.25 To make matters worse, social responsibility
covers a range of issues, many of which are
ambiguous with respect to right or wrong. If a bank
deposits the money from a trust fund into a low-interest
account for 90 days, from which it makes a substantial
profi t, is it being a responsible corporate citizen? How
about two companies engaging in intense competition?
Is it socially responsible for the stronger corporation to
drive the weaker one into bankruptcy or a forced merger?
Or consider companies such as Chiquita, Kmart, or Dana
Corporation, all of which declared bankruptcy—which is
perfectly legal—to avoid mounting fi nancial obligations
to suppliers, labor unions, or competitors. These examples
contain moral, legal, and economic considerations
that make socially responsible behavior hard to defi ne