What factors are pressuring companies to adopt more Corporate Socially Responsible (CSR) practices today than in the past?
There are several factors that could be listed and explained. Some of the most relevant include:
? Consumers are more educated and wealthy than ever before. It is known that consumers with greater levels of education tend to be more socially inclined. With increasing wealth consumers are now willing to pay for the privilege of buying CSR.
? Consumers are now more informed (via news media and internet) about the practices of firms and what they do that can be harmful to the environment and workers.
? Firms see the CSR strategy as means of differentiating themselves from the competition. This is also an attractive means to acquire capital, as the growth of ethical investing takes hold.
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