This article looks at the meaning of Corporate
Social Responsibility (CSR), as well as the traditional arguments for
the
practice of CSR. The four traditional arguments are the moral (or ethical)
argument, the license-to-operate (or legal) argument, the sustainability
argument, and finally the reputation (brand image) argument. While
acknowledging that these are solid arguments in support of CSR, the article
further argues that another solid reason for pursuing a
strategic CSR program
is that it could lead to
innovation. The article highlights the value chain
analysis that DuPont has developed to tackle the climate change problem,
showing how it has led to innovations that are not only helping the company,
but also addressing the global warming issue at a global level, while also
making DuPont’s business safer and more profitable in the medium to long term. In
conclusion, the article argues that CSR should not just be considered an
expense, but rather an investment.