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Friday, January 21, 2022

g-f(2)841 THE BIG PICTURE OF THE DIGITAL AGE (1/21/2022), MIT SMR, Why Companies Practice Corporate Social Responsibility




ULTRA-condensed knowledge


"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital age, Digital Transformation, Corporate Social Responsibility (1/21/2022)  g-f(2)426 


Lessons learned, MIT SMR

EXCEPTIONAL “Full Pack Golden Knowledge Container”


A meta-analysis of 200 surveys over 20 years finds that CSR is often embraced as a “halo” strategy.


  • An army of researchers has toiled for two decades to survey companies’ CSR motivations because they provide valuable information: They tell us why companies practice CSR and can help us predict and influence company behavior. In the end, the surveys tell us that companies practice CSR mainly because they want to burnish their own images.
  • This motivation presents a lever of change. Companies’ intentions to use CSR to bolster their own images can be exploited to increase social welfare: Company images are potential targets for activists who want to punish CSR laggards.


Genioux knowledge fact condensed as an image




ABOUT THE AUTHORS



Shawn Pope works at Léonard de Vinci Pôle Universitaire, Research Center, and is an instructor at Stanford University. Alwyn Lim is associate professor of sociology at Singapore Management University.



Extra-condensed knowledge


Lessons learned, MIT SMR

Golden Knowledge (GK) juice


  • For two decades now, the question of why companies practice corporate social responsibility (CSR) has gripped practitioners, policy makers, and academics alike. Strong interest in this question has been driven by the increasing engagement of companies worldwide in all manner of CSR activities, from reducing carbon emissions to increasing the gender and racial diversity of boards of directors.
  • The breadth of almost 200 surveys that have queried business leaders in over 70 countries on their CSR motivations offers evidence of the high level of interest in this topic. Research has been conducted by nearly every blue-chip consultancy, including McKinsey, EY, BCG, PwC, KPMG, Deloitte, and Accenture, as well as by major political bodies, such as the United Nations, the European Commission, and the U.S. Chamber of Commerce.


Condensed knowledge




Learned lessons, MIT SMR

Golden Knowledge (GK) juice


  • Companies’ intentions to use CSR to bolster their own images can be exploited to increase social welfare: Company images are potential targets for activists who want to punish CSR laggards. Indeed, our findings suggest a converse dynamic: By creating satirical greenwashing awards and subverting companies’ own brand identities to name and shame them, for instance, concerned stakeholders can threaten companies with a range of negative outcomes, such as higher capital costs and a reduction in consumer purchases. By harnessing company motivations, stakeholders can gain the traction to further advance the CSR field.
  • What can be learned about companies’ CSR motivations from these high-profile surveys? Emerging from our recent meta-analysis is a picture of CSR as a halo strategy: By presenting themselves as true believers in CSR (saints), businesses seek to improve the overall corporate image (the halo) and expect broad benefits from diverse stakeholders to follow (the warm glow). 


Some relevant characteristics of this "genioux fact"

  • Category 2: The Big Picture of the Digital Age
  • [genioux fact deduced or extracted from MIT SMR]
  • This is a “genioux fact fast solution.”
  • Tag Opportunities those travelling at high speed on GKPath
  • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
  • Type of validity of the "genioux fact". 

    • Inherited from sources + Supported by the knowledge of one or more experts.


References


“genioux facts”: The online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)841, Fernando Machuca, January 21, 2022, blog.geniouxfacts.com, geniouxfacts.com, Genioux.com Corporation.


ABOUT THE AUTHORS


PhD with awarded honors in computer science in France

Fernando is the director of "genioux facts". He is the entrepreneur, researcher and professor who has a disruptive proposal in The Digital Age to improve the world and reduce poverty + ignorance + violence. A critical piece of the solution puzzle is "genioux facts". The Innovation Value of "genioux facts" is exceptional for individuals, companies and any kind of organization.



Key “genioux facts”


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