Key Elements of Corporate Social Responsibility of Companies Operating in Global Markets

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Key Elements of Corporate Social Responsibility of Companies Operating in Global Markets Objective The objective of this study is to analyze key elements of corporate social responsibility of companies operating in global markets and to evaluate the progress made by international agencies and NGOs in establishing international standards for this area. Introduction The work of Kytle and Ruggie (2005) states that there are three aspects of the global operating environment that are necessary to understand in order to comprehend the ""¦evolving contributions of CSR to corporate risk management" and states those such as operations that are networked including value chains and the global economy as well as global stakeholders being empowered and the dynamic tension existing "between and among stakeholders." (Kytle and Ruggie , 2005, p.2) The global operating environment is characterized by (1) governments who hold primary roles as enforcers and providers, in preserving order and in the representation of citizens; (2) Corporations or Non-governmental Organizations (NGOs) that hold primary roles of innovators, deliverers of value to shareholders, and provision of customer support; and (3) Civil Society with the primary roles of watchdogs, protecting the rights of people and their well-being and service delivery. (Kytle and Ruggie, 2005, p.4) I. Key Elements of Corporate Social Responsibility Shifts in policy since the ending of the Cold War is reported in the work of
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