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Bounded goodness: marketing implications of Drucker on corporate responsibility

Author: Smith, N. Craig INSEAD Area: Faculty at LargeIn: Journal of the Academy of Marketing Science, vol. 37, no. 1, spring 2009 Language: EnglishDescription: p. 73-84.Type of document: INSEAD ArticleNote: Please ask us for this itemAbstract: Drucker’s immense contribution to the thinking and practice of management extends to social responsibility in business. This work goes back over 60 years but remains relevant today—notwithstanding the impacts of globalization and the greater interconnectedness of business and society—and not least to marketing. Given trends in marketing research and practice as well as the importance of paying tribute to Drucker and preserving his legacy, this paper examines the implications of Drucker’s CSR “principles” for marketing practice. As well as revealing their significance, it also considers Drucker’s views on the limits of social responsibility, referred to here as “bounded goodness”. It examines how Drucker’s thinking informs the challenging question of “how much is enough?” in relation to corporate responsibility issues such as food marketing and obesity, availability of AIDS drugs in Africa, and supply chains and labor rights
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Drucker’s immense contribution to the thinking and practice of management extends to social responsibility in business. This work goes back over 60 years but remains relevant today—notwithstanding the impacts of globalization and the greater interconnectedness of business and society—and not least to marketing. Given trends in marketing research and practice as well as the importance of paying tribute to Drucker and preserving his legacy, this paper examines the implications of Drucker’s CSR “principles” for marketing practice. As well as revealing their significance, it also considers Drucker’s views on the limits of social responsibility, referred to here as “bounded goodness”. It examines how Drucker’s thinking informs the challenging question of “how much is enough?” in relation to corporate responsibility issues such as food marketing and obesity, availability of AIDS drugs in Africa, and supply chains and labor rights

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