||The increasing importance of corporate social responsibility and investment around the world has been accompanied by the establishment of a number of global organisations addressing these issues and the development of international standards to which it is hoped all businesses will aspire.
This emphasis on corporate social responsibility and investment has been driven by several global factors:
• The constraints on government’s role as the sole driver of national development and deliverer of all social and economic needs.
• The increased interest in the ethical conduct of business and the consequent growing demand for corporate disclosure and accountability from customers, suppliers, employees, communities, investors, and activists.
• The globalisation of business operations and communication, resulting in better and quicker information flows which have decreased business’s ability to conceal its socially irresponsible behaviour.
• The growing understanding by business that positive relationships with stakeholders and socially responsible behaviour can have significant benefits for profitability and branding.