Introduction

Abstract

When something does not go according to plan, or disaster strikes, the ‘go to’ position is to find out who is to blame for any detrimental effects that may have befallen those questioning. Apportionment of blame is not a new concept and indeed underscores some of the key premises of society, and our legal infrastructure, as it exists today. Financial crises are no different. With the most recent global financial crisis, many sought to apportion blame, with numerous groups being targeted: bankers, regulators, politicians, market participants, credit rating agencies, and so on. Corporate social responsibility (CSR) has been heralded as the manner in which corporations position themselves in society. In recent times the scope of CSR has evolved beyond management school and business rhetoric to become a term recognised by most in society. Whereas the term CSR may be part of general parlance, the nuances of the concept evade many people. This may be attributed to the fluid development of the ideology and, in accordance its evolution has been in a constant state of flux. Discussions on CSR have developed considerably in recent years, to the extent that CSR can now be considered a strategic tool in the relationship between business, government and stakeholders alike. This book is concerned with capital generated by MNCs and the relationship between MNCs and the state. The government’s role within CSR, then, is primarily as an external stakeholder of MNCs. This, and stakeholder management more generally, is explored in more detail in Chapter 4, but the idea behind this chapter is to introduce CSR and to consider the character of CSR today.