Should the government regulate CSR?

Corporate Social Responsibility is at the forefront of “bigger, better, brighter” business. Many companies have voluntarily adopted policies that make them more appealing to the eco-friendly and socially responsible consumer, but for the most part these efforts are left largely uncoordinated across the varying fields of business.

An event hosted by the Brookings Institute discussed topics relating CSR to government policy and what the link between the two should potentially be. The question that this brings to mind is: should the government have regulation over CSR practices? If the government does gain control of these policies will the “good natured” connotation behind a company practicing social responsibility change? How could government regulation affect business? The event summary and transcript from the event can be found here. Seeing the growth of CSR in the recent years, what do you see for its future (with or without government regulation)?

Can Wal-Mart make-up for its tarnished irresponsible past?

One of our students, Matt Dowthit, e-mailed out this recent NYTimes article highlighting Wal-Mart’s promise to be more socially responsible. As many of you know, Wal-Mart has an all but retched reputation when it comes to corporate citizenship. The article describes chief executive, H.Lee Scott’s promises:

“In a lofty address that at times resembled a campaign speech, the chief executive of Wal-Mart Stores, H. Lee Scott Jr., said that ‘we live in a time when people are losing confidence in the ability of government to solve problems.’ But Wal-Mart, he said, ‘does not wait for someone else to solve problems.’”

Can Wal-Mart actually change its perception? Can it really be responsible? Will you start shopping at Wal-Mart because of these promises?