, Volume 21, Issue 1-2, pp 5-9
Date: 19 Jan 2013

Stakeholder management and CSR: questions and answers

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Alexander Moutchnik (AM): Dear Mr. Freeman, at the 5th International Conference on Corporate Social ResponsibilityThe Future of CSRorganized by Professor Joachim Schwalbach that has taken place in October 2012 in Berlin

http://www.csr-hu-berlin.org/.

you have talked about “The role of CSR in the New Narrative of Business”. Do you think that we are now witnessing the watershed between the “old” and the “new” fundamentals of business?

Edward Freeman (EF): Yes. There is no doubt that the story of business needs to change. The changes have been going on for over 30 years, as technology has driven globalization, a much different operating environment for business, and a publicness to everything that a business does. The old story of business as just about profits and the money and shareholders, just doesn’t work anymore, if it ever did. The Global Financial Crisis of 2008 brought this point home, but the changes have been going on for some time.

The new narrative says that successful busines ...