Corporate Responsibility and the Value of Value(s)

Abstract

In this book, we ask readers to consider what value means in CSR (for business and society, both by drawing from the past and by looking into the future), where it comes from and how it is enacted (organizational legacies or managers’ values) and its purpose (communicative value, co-operation, community). The chapter introduces the idea of value from an economic perspective and then explores the integration of values at the core of ethical business practice and CSR activities. It also provides an overview of the chapters, including historical developments of value in CSR, how value is linked to a positive vision of the future and how it is communicated by a range of private and public organizations to various audiences. Finally, it explains how leaders’ values can drive responsible business practice and enhance social cohesion, solidarity and resilience in fractured and unequal communities.

Consumer Ethicality Perception and Legitimacy: Competitive Advantages in COVID-19 Crisis

“…During the COVID-19 crisis, people's lives changed and the "new normal" drove into new pattern consumption (McKinsey, 2020). During the first wave of the pandemic, .055 0.596 Madrid: legitimacy R 2 = .63, Q 2 = 0.63, purchase intention R 2 = .16, Q 2 = 0.12; New York: legitimacy R 2 = .55; Q 2 = 0.54; purchase intention R 2 = .16; Q 2 = 0.12 long months of lockdown gave people the chance to reassess their priorities, to reflect on our consumeristic habits, and to consider new and more sustainable and responsible ways of buying (Grigore et al, 2020). In this new and unexpected environment, companies changed their communication strategies and messages affecting customers' perceptions on their ethical behavior (Xifra, 2020).…”

“…During the COVID-19 crisis, people’s lives changed abruptly and worldwide individuals experienced a decrease in the personal and family economic conditions, the lockdowns accelerated the adoption of digital adoption, which drove into new pattern consumption ( McKinsey, 2020 ). According to several authors, COVID-19 changed everything and it looks like our lives will never be the same ( Grigore et al, 2020 ). We are getting use to a “new normality,” where social distance, masks, no travelling, and extreme hygiene are compulsory ( World Health Organization, 2020 ).…”

Strategic alignment and implementation of codes of conducts in organisations

“…As such, they reflect the efficiency of corporate operations and are a key indispensable prerequisite for market success of products and business models in a global market environment. In particular companies with a global scope of operations align their values with international standards, such as can be found in particular in the corporate social responsibility (CSR) approach (ISO 26000:2011;Grigore et al, 2020;Baumgartner, 2020). But the formal commitment to these values failed to avert major irregularities in many branches of the economy, with very public repercussions.…”