Description

Economic developments of the last several decades have changed the economic and social structures of industrialized and developing countries, leading to new business opportunities but also to terrifying social risks and rising ecological catastrophes worldwide. Multinationals are increasingly expected by their stakeholders to find strategies and ways to respond to these global challenges, to play a more active role in addressing social issues, and to take responsibility for their actions in developing countries. Kathrin Bauer describes in her report how corporations can balance these societal demands and stakeholders' expectations with the goals of their company by using corporate social responsibility (CSR) as a public relations strategy. She explains how CSR can be used proactively as an opportunity to improve a corporation's image and financial success and/or reactively as a response to arising conflicts and crises. Both strategic approaches are discussed in detail and illustrated with practical examples from business operations in Latin America. The report is aimed at CSR and communications managers as well as those interested in responsible business operations.