The corporate social responsiblity movement is picking up steam. Should you worry about it?
Corporate social responsibility (CSR), the idea that companies have obligations not just to their investors but also to their stakeholders, society, and the environment, is hot. A recent Google search turned up 4,680,000 hits for the phrase, compared with 2,340,000 hits for "shareholder value." Here and abroad, consumers, nongovernmental organizations, and socially responsible investors are prodding companies to pursue a variety of social and environmental goals.
At the same time, CSR has provoked a backlash. Critics denounce the idea as wrongheaded or worse, and some argue that companies should focus narrowly on maximizing shareholder value.
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