As job losses mount, profits fall and companies fail, phrases such as “sustainable business” or “corporate responsibility” have taken on a whole new meaning. But while the terminology describing companies’ attempts to manage their social and environmental impacts may be flawed, many argue that the new scrutiny of global capitalism will only strengthen the case for ethical and responsible business practices.
Even so, some of this optimism may be misplaced. In the food industry, for example, “CSR” appears to be eclipsed by other concerns. In a survey released this week* of the top 10 priorities for food retail and manufacturing decision makers in 54 countries, CIES, a global food business network, found CSR had dropped from first place in January last year to third place a year later, and now languishes in fifth place.
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