Archive for the ‘Book Reviews’ Category
Author: Peter Koslowski
Publisher: Springer
Year: 2011
Pages: 214
Did the attitude of the banking industry towards ethical issues play a starring role in the financial crash of 2008? In this book, the recently-deceased expert on ethics and finance Peter Koslowski provides a thorough overview of the ethical requirements relevant to all banking business areas… most of which have been far from fulfilled in recent years.
In a great introduction, the author outlines the main arguments used by financial industry managers in order to justify the alleged “irrelevance of ethics” in modern finance: creation of shareholder value and maximum return on investment are priority and non-negotiable, as well as a strict adherence to neoliberal economic orthodoxy (which involves an unconditional belief in full rationality of market participants, perfect information and infallibility of the market). Considering these approaches to be utterly unsustainable and irresponsible, professor Koslowski devotes the rest of the book to dismantling them one by one, with an authority informed by his deep knowledge of the particularities and nuances of the banking business.
The first part shows the conceptual alternatives that underpin Finance Ethics: Ethical Economy, Economic Ethics and Business Ethics. The second and most extensive part details a number of ethical and economic implications of the markets for credit, capital and derivatives which, together with bad corporate governance, had a decisive influence on the rise of the financial crisis of 2008, as explained in the third part.
The book can be read at different levels. On the one hand, anyone interested in the subject can easily make the most of it, thanks to the plain language used, the many examples and the references to cases we all know through the media. However, some of the sections on capital and derivatives markets do provide arguments of significant technical depth, more aimed at financial professionals, who can find economic, legal, academic… and even semantic, philosophical and theological arguments.
In short, The Ethics of Banking: Conclusions from the Financial Crisis is essential reading for those who think that the future sustainability of the banking industry relies on a rigorous application of the ethical filter to all its business areas.
Review by
Cristina Carrillo, CSR International
Author: William B. Werther, Jr. and David Chandler
Publisher: Sage Publications, Inc
Year: 2011
Pages: 415
How can CSR become a core competency and in some cases even represent a competitive advantage if embedded in the true strategic values of a company? This book, a second edition of Strategic Corporate Social Responsibility, starts off by emphasising the even greater relevance of better management of CSR in the context of the recent financial crisis. Could history have unfolded differently with better and more sufficiently implemented CSR strategies? The authors take us on an extensive journey through CSR-related subjects and provide a broad initial overview of the topic.
The material is organised into two distinct sections. In Part One, the reader is guided through the breadth, depth and embedding of CSR within the general business environment and its terminology. The core concepts of CSR are further explored with a particular emphasis on stakeholder management before it moves on to the overall importance of CSR. The section is rounded off by looking at the strategic context and suggestions for implementation.
In Part Two, CSR-related issues are examined to a deeper extent, each with correlating case studies. The extensive set of examples provides a broad base for understanding the possible implications of CSR, with a wide range of online resources made available for further detail.
The book successfully serves as an introduction and source of inspiration in showing how powerful a tool CSR is and may become in the future. The material is presented in a pragmatic and realistic light, taking into consideration many of the potential pit-falls of the trade. It could, however, have elaborated even further on how “do no harm” principles can be enforced. The material is neatly structured and even complex themes appear effortless to follow. The intended audience can expect to be left with a general understanding of CSR in an international and strategic context.
Overall, the book offers a great starting point for readers interested in the topic of CSR.
Review by
Helene Frimannslund, CSR International
Author: Sandra Waddock
Publisher: Greenleaf Publishing Ltd
Year: 2008
Pages: 320
Have you ever wanted to get behind-the-scenes, first-hand stories of how the corporate responsibility (CR) movement emerged and most importantly, who are the people behind it?
If yes, then The Difference Makers by Sandra Waddock is for you.
In a series of interviews, the author tells the story of “difference makers” – visionary social and institutional entrepreneurs who developed and fostered such important initiatives as the United Nations Global Compact, the Global Reporting Initiative, SustainAbility, the Institute for Responsible Investment, AccountAbility, the International Business Leaders Forum, Fair Labour Association and Boston College Centre for Corporate Citizenship, just to name a few.
Besides giving the reader a chance to hear directly from the difference makers themselves, the book aims to address broader issues such as the concept of long-term social change and the drivers behind it as well as the role of individual in creating social movements and the vision behind these changes.
To give you a full view of the creation of this social movement, the book is divided into 9 chapters, each focusing on a different aspect of CR. The difference makers, people from all walks of life, share their experience on such topics as developing sustainability reporting, assessment and analysis of corporate performance through ratings and public monitoring mechanisms as well as the origins of responsible investing and multi-stakeholder dialogue. In the last chapter, the author asks the interviewees to share their view on major obstacles to systemic change and provide insights into the corporate responsibility movement’s key areas for development.
Rooted in the historical context, the book highlights key developments in the emergence of corporate responsibility infrastructure by examining the motivation and inspiration of 23 outstanding difference makers. This book is recommended for those who want to get valuable insights and lessons learned from the founders of the CR movement and “connect the dots” in the journey that was the emergence of corporate responsibility.
Review by
Svetlana Skryagina, CSR International
Author: Danah Zohar and Ian Marshall
Publisher: Brett-Koehler Publishers
Year: 2004
Pages: 171
It is the assumption of this book that capitalist culture and business-as-it-is are in crisis, and are set to ultimately kill the business. Business today is killing itself because it is not using its whole brain, not using its full intelligence, and thus not being sustainable.
‘Spiritual Capital’ is introduced by this book as a new vision for sustainable society that acknowledges and nourishes SQ (spiritual intelligence) along with IQ and EQ, where SQ allows us to recognise what we and our organizations are about.
The first two chapters describe two very different states of capitalism, the first being short-term business-as-it-is, with all its limitations, while the second portrays value-based business culture generating wealth that nurtures all our human needs.
The core message of this book is that a critical mass of individuals and organisations acting from their highest motivations can make a shift from the first to the second scenario. Using a number of examples, the book demonstrates that motivation is a key to this change, showing how this critical mass of present and potential leaders can use their spiritual intelligence to create spiritual capital in their organisations and cultures, making them more sustainable.
Authors argue that no good can come from negative motivation, not even corporate CSR programs. The deepest CSR that will build SQ will come from a genuine devotion to perform to a level of excellence that is built in the heart of the company’s vision.
They suggest twelve dynamic processes of SQ transformation, providing a well-developed framework for applying the change, which could be appealing to those interested in change management.
The book will definitely inspire individuals seeking a deeper meaning to their work. Looking in-depth at the nature of business systems and human intelligence, it reminds us that human beings are always seeking a deeper sense and richer vision for their existence.
Review by
Vanja Jankovic, CSR International
Author: Jorgen Randers
Publisher: Chelsea Green
Year: 2012
Pages: 392
2052 is a bold declaration on the likely state of the world one generation from now, by veteran trend-tracker and future-modeller Jorgen Randers. In this book, almost uniquely, a highly respected scientist has nailed his colours to the mast and said not what should happen, or what he would like to happen, or even what might happen, but rather what he thinks will happen – in our lifetimes.
The book picks up where the controversial series of Limits to Growth reports for the Club of Rome left off, but with a number of crucial differences. First, all three Limits to Growth books – which Randers co-authored with Dennis Meadows and Donella Meadows in 1972, 1992 and 2002 – were framed as scenarios, whereas 2052 is a forecast, i.e. a prediction, rather than a set of stories about the future.
Second, the Limits to Growth models covered the period to 2100, whereas 2052 is only for the next forty years. Third, while the Limits to Growth scenarios all ended in an ‘overshoot and collapse’ of resources and population, Randers does not see this happening at a global scale by mid-century, although he does issue sober warnings about the decades that will follow.
2052 is nothing if not ambitious. The five mega-issues it tackles are capitalism, economic growth, democracy, intergenerational equity and climate change. The book is packed with data and charts on everything from population and labour productivity to food and CO2 emissions, but it remains highly readable, with fascinating analyses presented at global and regional levels. It also has short ‘glimpses’ of the future on particular issues that are written by guest contributors (for example, I wrote one on the future of CSR). In addition, Randers offers some very practical advice in the conclusions.
Randers describes the book as a kind of self-therapy – an attempt to lay to rest the ghosts of the future that have haunted him all his life. In the process, he surprises himself – and the reader – with some of his conclusions. For example, population is expected to peak much earlier (in 2040) and much lower (at 8.1 billion) than most would predict, while global economic growth will slow, with GDP doubling by 2052 rather than the more commonly expected tripling.
The consequence is that, on some issues, the world is in better shape in forty years than many – especially sustainability activists – expect it to be. But Randers is at pains to point out that this only buys us a little more time to solve our global challenges. Runaway climate change in particular could still overwhelm us before 2100 and prove the original ‘overshoot and collapse’ hypothesis of the Limits to Growth studies to be accurate.
Happily, armed with the insights from 2052, we have every motivation we need to be proactive. As Randers told me in an interview for Cambridge University in 2008, ‘having a positive view has a stronger motivational force than scare tactics.’ Therefore, as he says in the closing words of 2052, ‘please help make the forecast wrong. Together we could create a much better world.’
—
Postscript: A Cambridge University summary of 2052 by Jorgen Randers can be downloaded here. There is also more information on http://www.2052.info/
Review by
Wayne Visser, CSR International
1. 2052: A Global Forecast for the Next Forty Years (Jorgen Randers)
2052 is a bold declaration on the likely state of the world one generation from now, by veteran trend-tracker and future-modeller Jorgen Randers. In this book, almost uniquely, a highly respected scientist has nailed his colours to the mast and said not what should happen, or what he would like to happen, or even what might happen, but rather what he thinks will happen – in our lifetimes. Review by Wayne Visser. Read more
2. Spiritual Capital: Wealth We Can Live By (Danah Zohar and Ian Marshall)
The core message of this book is that a critical mass of individuals and organisations acting from their highest motivations can make a shift from the first to the second scenario. Using a number of examples, the book demonstrates that motivation is a key to this change, showing how this critical mass of present and potential leaders can use their spiritual intelligence to create spiritual capital in their organisations and cultures, making them more sustainable. Review by Vanja Jankovic. Read more
3. The Difference Makers: How Social and Institutional Entrepreneurs Created the Corporate Responsibility Movement (Sandra Waddock)
In a series of interviews, this book tells the story of “difference makers” – visionary social and institutional entrepreneurs who developed and fostered such important initiatives as the United Nations Global Compact, the Global Reporting Initiative, SustainAbility, the Institute for Responsible Investment, AccountAbility, the International Business Leaders Forum, Fair Labour Association and Boston College Centre for Corporate Citizenship, just to name a few. Review by Svetlana Skryagina. Read more
4. Strategic Corporate Social Responsibility: Stakeholders in a Global Environment (William B. Werther, Jr. and David Chandler)
How can CSR become a core competency and in some cases even represent a competitive advantage if embedded in the true strategic values of a company? This book, a second edition of Strategic Corporate Social Responsibility, starts off by emphasising the even greater relevance of better management of CSR in the context of the recent financial crisis. Could history have unfolded differently with better and more sufficiently implemented CSR strategies? The authors take us on an extensive journey through CSR-related subjects and provide a broad initial overview of the topic. Review by Helene Frimannslund. Read more
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Editor(s): Jeffrey Unermann, Jan Bebbington and Brendan O’Dwyer
Publisher: Routledge
Year: 2007
Pages: 384
As more and more companies report on their CSR practices and the initial approach of mere environmental reporting is shifting to a rather integrated one, incorporating a variety of different principles, standards and techniques, the question arises what sustainability reporting or accounting actually encompasses, where it is now and where it is heading.
All of these questions are being answered throughout the four parts of the book Sustainability Accounting and Accountability. A total of 22 contributors describe, explain and analyse specific aspects centring sustainability accounting. The first part sets the context for non-financial accounting predominantly reviewing the literature and discussing the philosophical background of sustainability. The second part, which is also the longest one, provides the reader with an in-depth overview on external reporting of sustainability policies and practices. The third part focuses more thoroughly on the development of CSR activities within organisations, particular highlighting the public as well as finance sector and questioning the overall impact of sustainable accounting in organisations. Finally, the book ends with four chapters addressing different issues, such as accountability practices within non-governmental organisations or the investigation of the evolution of social and environmental accounting in British and Australian universities.
Even though the uptake of non-financial reporting can be considered impressive and has been applauded by the non-academic press as well as academia alike, it should be pointed out that every author gives a holistic approach to the pros and cons of sustainability reporting within its designated chapter. Especially the second part of the book triggers the reader to reflect on common practices, what has been achieved so far and at what cost, as well as every aspect that needs to be improved in the long run. Owen’s critical examination of the current status of assurance practices, for instance, shows that external verification of reports is important in order to gain credibility towards different stakeholder groups. At the same time, however, he observes that the conducted scrutiny of reports over the last decade has not met stakeholder needs completely and states empirical evidence for inconsistencies and ambiguities adherent to these methods.
The constant comparison between the developments of non-financial reporting, the way organisations have been implementing and addressing guidelines and stakeholder’s expectations as well as the critical observations given by each author make this book a great reading in order to get insight in the complex and evolving field of sustainability reporting and accountability.
Review by
Sabrina Vetters, CSR International
Author: Al Iannuzzi
Publisher: CRC Press
Year: 2012
Pages: 222
The CSR community keeps talking about integrating the concept of sustainability into a company’s everyday business and one of the best ways to do so is to have products and services that work towards this end. Al Iannuzzi talks about greener products – rather than “green” ones – because for the most part this is about continuous improvements to the products that are out there. As a Senior Director at the Worldwide Environment, Health and Safety department at Johnson & Johnson, and with thirty years of work in this area under his belt, the author knows what he is talking about.
Greener Products is divided into three well-organised sections – the case for greener products, making greener products and green marketing. The first section looks at the “why” in the journey towards greener products. The changes in the way consumers perceive companies, the market drivers, eco-innovation as a value driver as well as regulatory issues and supply chain concerns in today’s globalised economy – all these topics are covered quite well in the first three chapters. The author does not bore the reader with too much detail, but complements the information he provides with examples that make things clear and also interesting. Section two of the book looks more at the “what” – the greener products that are out there today. There is a huge range of examples brought from the real world that cannot but convince even the most sceptical reader that some serious ground is being made in this area by some companies today. GE, Timberland, SC Johnson, Clorox, Apple, Unilever, Procter & Gamble, Johnson & Johnson – the examples from just about all business sectors flow freely from this part of Greener Products. The author then begins to look a bit more at the “how”, which he describes in greater detail in the third section – the framework for developing greener products and how they can be marketed – as well as the “who” by looking at the current consumers who are interested in responsible products and services.
There is also a brilliant chapter on greenwashing, without which this book would not have been complete. Iannuzzi deftly outlines the “seven sins of greenwashing” and looks at some of the standards regulating this area. Finally, the book reviews some of the best practices for making greener products and focuses on some of the key factors for success – top management endorsement, the use of scorecards and other tools, company-wide product stewardship goals, the use of lifecycle analysis and so on. The author also focuses on some of the best practices for green marketing, reminding readers in the end that this is not just about consumer marketing, but also the B2B sector.
Greener Products is a book that will appeal to both people with years of experience in corporate sustainability and responsibility as well as to relative newcomers to the field. Al Iannuzzi has succeeded in finding a great balance between making a book readable and informative, even of academic value. There are examples all over its pages and the structure of the book, as well as the little grey boxes with useful asides, mean that you can read this book in the order of the chapters or just start off from the topic that interests you most. More than thirty years of knowledge and experience compressed into just over 200 pages? With Greener Products, you’ve got it!
Review by
Nazareth Seferian, CSR International
Author(s): Howard Schultz with Joanne Gordon
Publisher: Rodale books
Year: 2011
Pages: 384
In 2008, Howard Schultz, the president and chairman of Starbucks, made the unprecedented decision to return as the CEO eight years after he stepped down from daily oversight of the company and became chairman. Concerned that Starbucks had lost its way, Schultz was determined to help it return to its core values and restore not only its financial health, but also its soul. In Onward, he shares the remarkable story of his return and the company’s ongoing transformation under his leadership, revealing how, during one of the most tumultuous economic times in history, Starbucks again achieved profitability and sustainability without sacrificing humanity.
By far, the greatest appeal of this book is the way the narrative is driven by Howard Schultz’s personal account of all the dilemmas he faced, combined with insights from Starbucks’ employees in letters they sent to him. In addition, Schultz describes in detail the relationships he struck up with mentors, which included Michael Dell of Dell Corporation, and communications agencies, organizational specialists and more. The blow-by-blow account of the way Schultz put in place the right people to deliver his renewed vision is well worth reading.
At all times, Howard Schultz takes pains to reiterate the importance of values and the way conflicts were resolved in the organisation from a values-based standpoint under his leadership. Schultz is not usually the first name that springs to mind when people talk about sustainability visionaries of stature from the business sector – Anita Roddick, Yves Chouinard, Ray Anderson, and Ben and Jerry, and a few others, generally make the list. Schultz doesn’t usually figure. However, in Onward, Schultz stands out as a visionary and a person of principle, striving to make his business as relevant and valuable to society and environmentally sustainable as have any of the other business sustainability celebs. Another demonstration of this is the way Starbucks confirms its impacts on society and accepts accountability through the transparent reporting practices of the Company.
Offering readers a snapshot of a moment in history that left no company unscathed, the book zooms in to show how one company struggled and recreated itself in the midst of it all. Onward is a compelling, candid narrative documenting the maturing of a brand as well as a businessman.
Review by
Elaine Cohen, Beyond Business Ltd.
Adapted from a review originally published on www.csr-books.com
The Social Entrepreneur Revolution: Doing Good By Making Money, Making Money By Doing Good
2012
Author(s): Martin Clark
Publisher: Midpoint Trade Books Inc.
Year: 2009
Pages: 208
One of the most discussed concepts in the world of sustainability and sustainable business today is that of social entrepreneurship. If you have heard the term being bounced around and have been vaguely intrigued by what it is, then this book is for you.
The rather long sub-title of this book tries to summarize the essence of social entrepreneurship in one sentence. In case you feel it does not succeed, there is a whole chapter dedicated to what a social entrepreneur is and then another where you ask yourself whether you can be one. The author then goes on to profile four leading social entrepreneurs – focusing on Muhammad Yunus and his Grameen Bank, John Bird and The Big Issue, Victoria Hale and the Institute for OneWorld Health as well as Nic Frances and the Furniture Resource Centre. For each entrepreneur, Clark tried to look at their characteristics by providing a few bullet points about what made them tick. He then talks about ‘mega social entrepreneurs’ with Bill Drayton’s founding of Ashoka as well as the establishment of the Skoll Foundation and Schwab Foundation by Jeff Skoll and Klaus Schwab. The author once again tries to profile the individuals and their takes on social entrepreneurship.
The remaining chapters of the book look at social entrepreneurship around the world, classify the seven types of social entrepreneur and invite you as the reader to reflect on your abilities and shortcomings, asking yourself how you can become a social entrepreneur and give you a few tips to get you started on your journey.
The Social Entrepreneur Revolution is peppered with examples and is written in engagingly simple language, making the world of social entrepreneurship seem fun, exciting and simple. Perhaps it is written too positively, meaning that a few bumps along the road might discourage any aspiring social entrepreneur who misread the rosy picture painted by the book. If you read between the lines a bit and carefully scrutinise the stories of how the profiled leaders of the field became successful social entrepreneurs, you will have the whole picture and – book in hand – you will be set for your journey on the road to being a successful social entrepreneur.
Review by
Nazareth Seferian, CSR International
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