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Applying an eMASS Customization Program as a Research Tool to Evaluate Consumer Benefits
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Value creation and CSR.

Thomas Donaldson1

  • 1Wharton School, University of Pennsylvania, Philadelphia, PA USA.

Journal of Business Economics
|April 16, 2024
PubMed
Summary
This summary is machine-generated.

A new model for value creation is needed to improve Corporate Social Responsibility (CSR) theories. This approach addresses conflicts in measuring value and acknowledges industry-specific responsibilities for better corporate decision-making.

Keywords:
Communicative actionCorporate ethicsCorporate social responsibilityDeliberative democracyIntrinsic valuesStakeholder theoryValue creation

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Applying an eMASS Customization Program as a Research Tool to Evaluate Consumer Benefits
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Applying an eMASS Customization Program as a Research Tool to Evaluate Consumer Benefits

Published on: September 27, 2019

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Area of Science:

  • Business Ethics
  • Corporate Social Responsibility
  • Value Creation Models

Background:

  • Current Corporate Social Responsibility (CSR) theories struggle with measuring value creation, oscillating between narrow financial metrics and broader value-oriented approaches.
  • A key issue is the assumption that all industries have identical CSR responsibilities, which conflicts with diverse corporate realities.
  • Existing CSR frameworks, like stakeholder theory and communicative/deliberative democracy, fail to reconcile normative convictions with prescribed corporate decision-making.

Purpose of the Study:

  • To propose a more robust and inclusive model of value creation.
  • To enhance dominant normative theories of CSR, including stakeholder theory and the theory of communicative/deliberative democracy.
  • To resolve the conflict between traditional financial metrics and value-oriented approaches in CSR.

Main Methods:

  • Analysis of the contradiction between normative CSR convictions and prescribed corporate decision-making.
  • Examination of the pharmaceutical industry's response to the 2019 Covid-19 pandemic as a case study.
  • Critique of stakeholder theory and the theory of communicative/deliberative democracy using a defective value creation model.

Main Results:

  • The current model of value creation is identified as defective, creating a conflict within CSR theories.
  • Pharmaceutical companies faced pressure to prioritize health over profit during the Covid-19 pandemic, a stance not fully supported by existing CSR theories.
  • Different industries may have distinct focal goals (e.g., health for healthcare, profit for semiconductor firms) to fulfill CSR.

Conclusions:

  • Reconceiving the model of value creation is crucial for advancing CSR theories.
  • Corporate governance may need adjustment to align focal goals with industry-specific responsibilities and societal expectations.
  • A refined value creation model can better guide corporate decision-making and enhance the effectiveness of CSR practices across diverse industries.