Corporate social responsibility and corporate governance

It is almost inconceivable that you have not used at least one of the following items today: a computer, a notebook, a tablet, a mobile phone, a video game console, a television or another electrical item. You probably did so without considering the social impact of the product upon people and natural resources, perhaps automatically, or possibly because you trust the manufacturers and retailers of these products to have made these considerations on your behalf. Unfortunately, in recent years, various incidents have brought their negative impacts to public attention, damaging trust in them and the companies that produce them. The trust placed in business organizations represents a form of social contract between businesses, customers and wider society. It is central to the successful functioning of business organizations. Several processes and measures are utilized by businesses to manage these relationships, and two of them - corporate governance and corporate social responsibility - are explored in this chapter.