Corporate Social Responsibility in Europe and Asia: Critical Elements and Best Practice

Abstract

This paper maps out 20 elements of corporate social responsibility (CSR) that businesses can adopt. The elements are based on international conventions, codes of conduct and industry best practice. The usefulness of the elements is tested in a survey of the written policies of companies in 12 countries in Europe and Asia. Results point to an emphasis on internal aspects of CSR and supply chain management. However, wider ethical, accountability and citizenship aspects of CSR are less well developed, and the paper points to a need for more action from the business community in this respect. With respect to many elements, Asian companies seem to be doing less than are European companies. However, there are some notable exceptions to this when it comes to elements associated with trade. Moreover, some significant differences in priorities can, in part, reflect issues that are identified as more important in specific countries. Although European companies are usually ahead of Asian companies with respect to their CSR agendas, there is great scope for companies to learn from each other.