Category Archives: Corporate Social Responsibility

Announcing a Call for Chapters (for Springer)

Strategic Corporate Communication and Stakeholder Engagement in the Digital Age

 

Abstract submission deadline: 30th September 2019
Full chapters due: 31st December 2019

 

Background

The latest advances in technologies and networks have been central to the expansion of electronic content across different contexts. Contemporary communication approaches are crossing boundaries as new media are offering both challenges and opportunities. The democratisation of the production and dissemination of information via the online technologies has inevitably led individuals and organisations to share content (including images, photos, news items, videos and podcasts) via the digital and social media. Interactive technologies are allowing individuals and organisations to co-create and manipulate electronic content. At the same time, they enable them to engage in free-flowing conversations with other online users, groups or virtual communities (Camilleri, 2017). Innovative technologies have empowered the organisations’ stakeholders, including; employees, investors, customers, local communities, government agencies, non-governmental organisations (NGOs), as well as the news media, among others. Both internal and external stakeholders are in a better position to scrutinise the organisations’ decisions and actions. For this reason, there is scope for the practitioners to align their corporate communication goals and activities with the societal expectations (Camilleri, 2015; Gardberg & Fombrun, 2006). Therefore, organisations are encouraged to listen to their stakeholders. Several public interest organisations, including listed businesses, banks and insurance companies are already sharing information about their financial and non-financial performance in an accountable and transparent manner. The rationale behind their corporate disclosures is to develop and maintain strong and favourable reputations among stakeholders (Camilleri, 2018; Cornelissen, 2008). The corporate reputation is “a perceptual representation of a company’s past actions and future prospects that describe the firm’s overall appeal to all of its key constituents when compared to other leading rivals” (Fombrun, 1996).

Business and media practitioners ought to be cognisant about the strategic role of corporate communication in leveraging the organisations’ image and reputation among stakeholders (Van Riel & Fombrun, 2007). They are expected to possess corporation communication skills as they need to forge relationships with different stakeholder groups (including employees, customers, suppliers, investors, media, regulatory authorities and the community at large). They have to be proficient in specialist areas, including; issues management, crises communication as well as in corporate social responsibility reporting, among other topics. At the same time, they should be aware about the possible uses of different technologies, including; artificial intelligence, augmented and virtual reality, big data analytics, blockchain and internet of things, among others; as these innovative tools are disrupting today’s corporate communication processes.

 

Objective

This title shall explain how strategic communication and media management can affect various political, economic, societal and technological realities. Theoretical and empirical contributions can shed more light on the existing structures, institutions and cultures that are firmly founded on the communication technologies, infrastructures and practices. The rapid proliferation of the digital media has led both academics and practitioners to increase their interactive engagement with a multitude of stakeholders. Very often, they are influencing regulators, industries, civil society organisations and activist groups, among other interested parties. Therefore, this book’s valued contributions may include, but are not restricted to, the following topics:

 

Artificial Intelligence and Corporate Communication

Augmented and Virtual Reality in Corporate Communication

Blockchain and Corporate Communication

Big Data and Analytics in Corporate Communication

Branding and Corporate Reputation

Corporate Communication via Social Media

Corporate Communication Policy

Corporate Culture

Corporate Identity

Corporate Social Responsibility Communications

Crisis, Risk and Change Management

Digital Media and Corporate Communication

Employee Communications

Fake News and Corporate Communication

Government Relationships

Integrated Communication

Integrated Reporting of Financial and Non-Financial Performance

Internet Technologies and Corporate Communication

Internet of Things and Corporate Communication

Investor Relationships

Issues Management and Public Relations

Leadership and Change Communication

Marketing Communications

Measuring the Effectiveness of Corporate Communications

Metrics for Corporate Communication Practice

Press and Media Relationships

Stakeholder Management and Communication

Strategic Planning and Communication Management

 

This publication shall present the academics’ conceptual discussions that cover the contemporary topic of corporate communication in a concise yet accessible way. Covering both theory and practice, this publication shall introduce its readers to the key issues of strategic corporate communication as well as stakeholder management in the digital age. This will allow prospective practitioners to critically analyse future, real-life situations. All chapters will provide a background to specific topics as the academic contributors should feature their critical perspectives on issues, controversies and problems relating to corporate communication.

This authoritative book will provide relevant knowledge and skills in corporate communication that is unsurpassed in readability, depth and breadth. At the start of each chapter, the authors will prepare a short abstract that summarises the content of their contribution. They are encouraged to include descriptive case studies to illustrate real situations, conceptual, theoretical or empirical contributions that are meant to help aspiring managers and executives in their future employment. In conclusion, each chapter shall also contain a succinct summary that should outline key implications (of the findings) to academia and / or practitioners, in a condensed form. This will enable the readers to retain key information.

 

Target Audience

This textbook introduces aspiring practitioners as well as under-graduate and post-graduate students to the subject of corporate communication – in a structured manner. More importantly, it will also be relevant to those course instructors who are teaching media, marketing communications and business-related subjects in higher education institutions, including; universities and colleges. It is hoped that course conveners will use this edited textbook as a basis for class discussions.

 

Submission Procedure

Senior and junior academic researchers are invited to submit a 300-word abstract on or before the 30th June 2019. Submissions should be sent to Mark.A.Camilleri@um.edu.mt. Authors will be notified about the editorial decision during July 2019. The length of the chapters should be between 6,000- 8,000 words (including references, figures and tables). These contributions will be accepted on or before the 31st December 2019. The references should be presented in APA style (Version 6). All submitted chapters will be critically reviewed on a double-blind review basis. The authors’ and the reviewers’ identities will remain anonymous. All authors will be requested to serve as reviewers for this book. They will receive a notification of acceptance, rejection or suggested modifications – on or before the 15th February 2020.

Note: There are no submission or acceptance fees for the publication of this book. All abstracts / proposals should be submitted via the editor’s email.

 

Editor

Mark Anthony Camilleri (Ph.D. Edinburgh)
Department of Corporate Communication,
Faculty of Media and Knowledge Sciences,
University of Malta, MALTA.
Email: mark.a.camilleri@um.edu.mt

 

Publisher

Following the double-blind peer review process, the full chapters will be submitted to Springer Nature for final review. For additional information regarding the publisher, please visit https://www.springer.com/gp. This prospective publication will be released in 2020.

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Filed under Business, Corporate Governance, Corporate Social Responsibility, Corporate Sustainability and Responsibility, CSR, digital media, ESG Reporting, Integrated Reporting, internet technologies, internet technologies and society, Marketing, online, Shared Value, Stakeholder Engagement, Sustainability

Announcing a Call for Chapters (for Springer)

Call for Chapters

Strategic Corporate Communication and Stakeholder Engagement in the Digital Age

 

Abstract submission deadline: 30th June 2019 (EXTENDED to the 30th September 2019)
Full chapters due: 31st December 2019

 

Background

The latest advances in technologies and networks have been central to the expansion of electronic content across different contexts. Contemporary communication approaches are crossing boundaries as new media are offering both challenges and opportunities. The democratisation of the production and dissemination of information via the online technologies has inevitably led individuals and organisations to share content (including images, photos, news items, videos and podcasts) via the digital and social media. Interactive technologies are allowing individuals and organisations to co-create and manipulate electronic content. At the same time, they enable them to engage in free-flowing conversations with other online users, groups or virtual communities (Camilleri, 2017). Innovative technologies have empowered the organisations’ stakeholders, including; employees, investors, customers, local communities, government agencies, non-governmental organisations (NGOs), as well as the news media, among others. Both internal and external stakeholders are in a better position to scrutinise the organisations’ decisions and actions. For this reason, there is scope for the practitioners to align their corporate communication goals and activities with the societal expectations (Camilleri, 2015; Gardberg & Fombrun, 2006). Therefore, organisations are encouraged to listen to their stakeholders. Several public interest organisations, including listed businesses, banks and insurance companies are already sharing information about their financial and non-financial performance in an accountable and transparent manner. The rationale behind their corporate disclosures is to develop and maintain strong and favourable reputations among stakeholders (Camilleri, 2018; Cornelissen, 2008). The corporate reputation is “a perceptual representation of a company’s past actions and future prospects that describe the firm’s overall appeal to all of its key constituents when compared to other leading rivals” (Fombrun, 1996).

Business and media practitioners ought to be cognisant about the strategic role of corporate communication in leveraging the organisations’ image and reputation among stakeholders (Van Riel & Fombrun, 2007). They are expected to possess corporation communication skills as they need to forge relationships with different stakeholder groups (including employees, customers, suppliers, investors, media, regulatory authorities and the community at large). They have to be proficient in specialist areas, including; issues management, crises communication as well as in corporate social responsibility reporting, among other topics. At the same time, they should be aware about the possible uses of different technologies, including; artificial intelligence, augmented and virtual reality, big data analytics, blockchain and internet of things, among others; as these innovative tools are disrupting today’s corporate communication processes.

 

Objective

This title shall explain how strategic communication and media management can affect various political, economic, societal and technological realities. Theoretical and empirical contributions can shed more light on the existing structures, institutions and cultures that are firmly founded on the communication technologies, infrastructures and practices. The rapid proliferation of the digital media has led both academics and practitioners to increase their interactive engagement with a multitude of stakeholders. Very often, they are influencing regulators, industries, civil society organisations and activist groups, among other interested parties. Therefore, this book’s valued contributions may include, but are not restricted to, the following topics:

 

Artificial Intelligence and Corporate Communication

Augmented and Virtual Reality in Corporate Communication

Blockchain and Corporate Communication

Big Data and Analytics in Corporate Communication

Branding and Corporate Reputation

Corporate Communication via Social Media

Corporate Communication Policy

Corporate Culture

Corporate Identity

Corporate Social Responsibility Communications

Crisis, Risk and Change Management

Digital Media and Corporate Communication

Employee Communications

Fake News and Corporate Communication

Government Relationships

Integrated Communication

Integrated Reporting of Financial and Non-Financial Performance

Internet Technologies and Corporate Communication

Internet of Things and Corporate Communication

Investor Relationships

Issues Management and Public Relations

Leadership and Change Communication

Marketing Communications

Measuring the Effectiveness of Corporate Communications

Metrics for Corporate Communication Practice

Press and Media Relationships

Stakeholder Management and Communication

Strategic Planning and Communication Management

 

This publication shall present the academics’ conceptual discussions that cover the contemporary topic of corporate communication in a concise yet accessible way. Covering both theory and practice, this publication shall introduce its readers to the key issues of strategic corporate communication as well as stakeholder management in the digital age. This will allow prospective practitioners to critically analyse future, real-life situations. All chapters will provide a background to specific topics as the academic contributors should feature their critical perspectives on issues, controversies and problems relating to corporate communication.

This authoritative book will provide relevant knowledge and skills in corporate communication that is unsurpassed in readability, depth and breadth. At the start of each chapter, the authors will prepare a short abstract that summarises the content of their contribution. They are encouraged to include descriptive case studies to illustrate real situations, conceptual, theoretical or empirical contributions that are meant to help aspiring managers and executives in their future employment. In conclusion, each chapter shall also contain a succinct summary that should outline key implications (of the findings) to academia and / or practitioners, in a condensed form. This will enable the readers to retain key information.

 

Target Audience

This textbook introduces aspiring practitioners as well as under-graduate and post-graduate students to the subject of corporate communication – in a structured manner. More importantly, it will also be relevant to those course instructors who are teaching media, marketing communications and business-related subjects in higher education institutions, including; universities and colleges. It is hoped that course conveners will use this edited textbook as a basis for class discussions.

 

Submission Procedure

Senior and junior academic researchers are invited to submit a 300-word abstract on or before the 30th June 2019. Submissions should be sent to Mark.A.Camilleri@um.edu.mt. Authors will be notified about the editorial decision during July 2019. The length of the chapters should be between 6,000- 8,000 words (including references, figures and tables). These contributions will be accepted on or before the 31st December 2019. The references should be presented in APA style (Version 6). All submitted chapters will be critically reviewed on a double-blind review basis. The authors’ and the reviewers’ identities will remain anonymous. All authors will be requested to serve as reviewers for this book. They will receive a notification of acceptance, rejection or suggested modifications – on or before the 15th February 2020.

Note: There are no submission or acceptance fees for the publication of this book. All abstracts / proposals should be submitted via the editor’s email.

 

Editor

Mark Anthony Camilleri (Ph.D. Edinburgh)
Department of Corporate Communication,
Faculty of Media and Knowledge Sciences,
University of Malta, MALTA.
Email: mark.a.camilleri@um.edu.mt

 

Publisher

Following the double-blind peer review process, the full chapters will be submitted to Springer Nature for final review. For additional information regarding the publisher, please visit https://www.springer.com/gp. This prospective publication will be released in 2020.

 

Important Dates

Abstract Submission Deadline:          30th June 2019 30th September 2019
Notification of Acceptance:               31st July 2019 31st October 2019

Full Chapters Due:                             31st December 2019

Notification of Review Results:         15th February 2020
Final Chapter Submission:                 31st March 2020

Final Acceptance Notification:          30th April, 2020

References

Camilleri, M.A. (2015). Valuing Stakeholder Engagement and Sustainability Reporting. Corporate Reputation Review18(3), 210-222. https://link-springer-com.ejournals.um.edu.mt/article/10.1057/crr.2015.9

Camilleri, M.A. (2017). Corporate Sustainability, Social Responsibility and Environmental Management, Cham, Switzerland: Springer Nature. https://www.springer.com/gp/book/9783319468488

Camilleri, M.A. (2018). Theoretical Insights on Integrated Reporting: The Inclusion of Non-Financial Capitals in Corporate Disclosures. Corporate Communications: An International Journal23(4), 567-581. https://www.emeraldinsight.com/doi/full/10.1108/CCIJ-01-2018-0016

Cornelissen, J.P. (2008). Corporate Communication. The International Encyclopedia of Communication. https://onlinelibrary.wiley.com/doi/abs/10.1002/9781405186407.wbiecc143.pub2

Fombrun, C.J. (1995). Reputation: Realizing Value from the Corporate Image. Cambridge, MA, USA: Harvard Business School Press.

Gardberg, N.A., & Fombrun, C. J. (2006). Corporate Citizenship: Creating Intangible Assets across Institutional Environments. Academy of Management Review31(2), 329-346. https://journals.aom.org/doi/abs/10.5465/AMR.2006.20208684

Van Riel, C.B., & Fombrun, C.J. (2007). Essentials of Corporate Communication: Implementing Practices for Effective Reputation Management. Oxford, UK: Routledge. http://repository.umpwr.ac.id:8080/bitstream/handle/123456789/511/Essentials%20of%20Corporate%20Communication.pdf?sequence=1

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Filed under Analytics, Big Data, blockchain, branding, Business, Corporate Governance, Corporate Social Responsibility, Corporate Sustainability and Responsibility, CSR, digital media, ESG Reporting, Higher Education, Human Resources, Impact Investing, Integrated Reporting, internet technologies, internet technologies and society, Marketing, online, Shared Value, Stakeholder Engagement, Sustainability, Web

The Circular Economy and the Sustainability Agenda

This is excerpt from my latest paper that was accepted by ‘Sustainable Development’ (Wiley).

How to Cite: Camilleri, M.A. (2018). The Circular Economy’s Closed Loop and Product Service Systems for Sustainable Development: A Review and Appraisal. Sustainable Development. Forthcoming.

The Brundtland Report (WCED, 1987) defined sustainable development as; “development that meets the needs of the present without compromising the ability of future generations to meet their own needs” (p. 43). Its underlying assumption is that the world’s physical resources are not finite, therefore, they have to be managed responsibly to sustain future generations. Subsequently, the United Nations (UN) Conference on Environment and Development has put forward Agenda 21 that dedicated a chapter that was focused on unsustainable patterns of production and consumption. This document recommended that the UN’s member states ought to intensify their efforts to reduce the use of scarce resources during production processes, whilst minimising the environmental impacts from generation of waste and pollution (Agenda 21, 1992).

In 2002, the UN Report of the World Summit on Sustainable Development also made reference to unsustainable patterns of production and consumption. The UN’s member states were urged to manage their natural resources sustainably and with lower negative environmental impacts; by promoting the conservation and sustainable use of biodiversity and ecosystems, whilst reducing waste (WSSD, 2002, p 13). Moreover, in another resolution, entitled; “The future we want”, the General Assembly at the UN Conference on Sustainable Development has reaffirmed its commitment to implementing green economy policies in the context of sustainable development. The Heads of State and Government or their representatives have agreed to continue promoting the integrated and sustainable management of eco-systems; whilst facilitating their conservation, regeneration and restoration of resources (UNCSD, 2012). Furthermore, during the UN’s General Assembly Resolution of 25 September 2015, entitled; “Transforming our world: the 2030 Agenda for Sustainable Development” the world leaders have agreed to adopt the Sustainable Development Goals that replaced the previous millennium development goals that were established in the year 2000. Specifically, the Sustainable Development Goal (SDG) 12 of the 2030 agenda, namely; “Sustainable Consumption and Production” explained that there is an opportunity for business and industry to reap economic gains through resource and energy efficiencies. It also raised awareness on the use of sustainable infrastructures and urged the UN member states to address air, water and soil pollution to minimise their environmental impact (UNDP, 2015). Moreover, the Paris Climate Agreement (COP 21) and Resolutions 1/5 and 2/7 on chemicals and waste, and 2/8 on sustainable production and consumption, as adopted by the 1st and 2nd sessions of the United Nations Environment Assembly (that was held in Nairobi, Kenya on the 27th June 2014 and the 27th May 2016), are also considered as important policy instruments for many stakeholders, as they have paved the way for the transition toward the circular economy strategy.

These intergovernmental policy recommendations on sustainable consumption and production have led to increased regulatory pressures on business and industry toward controlled operations management and environmentally-responsible practices. In 2014, the European Union (EU) Commission anticipated that, “new business models, eco-designs and industrial symbiosis can move the community toward zero-waste; reduce greenhouse emissions and environmental impacts” (EU, 2018). Eventually, in March 2017, the EU Commission and the European Economic and Social Committee organised a Circular Economy Stakeholder Conference, where it reported on the delivery and progress of some of its Action Plan. It also established a Finance Support Platform with the European Investment Bank (EIB) and issued important guidance documents to Member States on the conversion of waste to energy.

Other EU Communications on this subject, comprised: “Innovation for a sustainable future – The Eco-innovation Action Plan“; “Building the Single Market for Green Products: Facilitating better information on the environmental performance of products and organisations“; “Green Action Plan for SMEs: enabling SMEs to turn environmental challenges into business opportunities“; “Closing the loop –An EU action plan for the Circular Economy” and the report on its implementation, and “Investing in a smart, innovative and sustainable Industry – A renewed EU Industrial Policy Strategy“, among others (EU, 2017). Recently, the EU commission has adopted a set of measures, including; a “Strategy for Plastics in the Circular Economy” that specified that all plastics packaging will have to be recyclable by 2030; It released a communication on the interface between chemical, product and waste legislation, as it explains how they relate to each other. Moreover, the commission launched a Monitoring Framework that may be used to assess the progress of its member states towards the implementation of the circular economy action plan. This framework is composed of a set of ten key indicators, comprising; 1) EU self-sufficiency for raw materials; 2) Green public procurement; 3a-c) Waste generation; 4) Food waste, 5a-b) Overall recycling rates, 6a-f) Recycling rates for specific waste streams, 7a-b) Contribution of recycled materials to raw materials demand, 8) Trade in recyclable raw materials, 9a-c) Private investments, jobs and gross value added, and 10) Patents. Furthermore, (EU, 2018) published a report on the supply and demand of critical raw materials that are used in mining, landfills, electrical and electronic equipment, batteries, automotive sector, renewable energy, defence industry as well as for chemicals and fertilizers.


References

Agenda 21. 1992. United Nations Conference on Environment & Development. Rio de Janerio, Brazil, 3 to 14 June 1992. United Nations Sustainable Development. https://sustainabledevelopment.un.org/content/documents/Agenda21.pdf [6 July 2018].

EU 2017. Council conclusions on eco-innovation: enabling the transition towards a circulareconomy. European Council of the European Union, Brussels, Belgium. http://www.consilium.europa.eu/en/press/press-releases/2017/12/18/council-conclusions-on-eco-innovation-transition-towards-a-circular-economy/#[5th July 2018].

EU 2018. Implementation of the Circular Economy Action Plan. European Commission.  http://ec.europa.eu/environment/circular-economy/index_en.htm[5th July 2018].

UNCSD 2012. The Future We Want – Outcome document. Resolution adopted by the General Assembly on 27 July 2012. United Nations  General Assembly. http://www.un.org/ga/search/view_doc.asp?symbol=A/RES/66/288&Lang=E [25 June 2018].

UNDP 2015. Transforming our World. Resolution adopted by the General Assembly on 25 September 2015. http://www.un.org/en/development/desa/population/migration/generalassembly/docs/globalcompact/A_RES_70_1_E.pdf [25 June 2018].

WSSD 2002. United Nations Report of the World Summit on Sustainable Development. Johannesburg, South Africa, 26 August- 4 September 2002.  http://www.un-documents.net/aconf199-20.pdf [29 June 2018].

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The Way Forward: Corporate Sustainability and Responsibility

An Excerpt from: Camilleri, M.A. (2017). Corporate Sustainability and Responsibility: Creating Value for Business, Society and the Environment. Asian Journal of Sustainability and Social Responsibility 2(1) 59-74. https://link.springer.com/article/10.1186/s41180-017-0016-5

In the past, CSR may have been more associated with corporate philanthropy, stewardship principles, contributions-in-kind toward social and environmental causes, environmental protection, employees’ engagement in community works, volunteerism and pro-bono service among other responsible initiatives. Very often, such altruistic CSR activities may have not resulted in financial performance to the business per se. On the contrary, certain discretionary
expenses in corporate philanthropy could have usurped the businesses’ slack resources (including financial assets, labour and time) without adding much value (in terms of corporate reputation and goodwill) to the businesses. Nevertheless, this research reported that the contemporary discourses on corporate social responsibility are opening new opportunities for the businesses themselves. The academic discourse about CSR is moving away from ‘nice-to
do’ to ‘doing-well-by-doing-good’ mantra. Evidently, the value-based approaches that were discussed in this paper could be considered as guiding principles that will lead tomorrow’s businesses to long term sustainability (in social and economic terms). Debatably, the profit motive (the business case or corporate sustainability concepts) could be linked with the corporate responsibility agenda. This way, the multinational corporations could be better prepared to address their societal and environmental deficits across the globe, whilst adding value to their business.

This review paper has built on the previous theoretical underpinnings of the corporate social responsibility agenda including Stakeholder Management, Corporate Citizenship and Creating Shared Value as it presents the latest Corporate Sustainability and Responsibility perspective. This value-based model reconciles strategic CSR and environmental management with a stakeholder approach to bring long term corporate sustainability, in terms of economic performance for the business, as well as corporate responsibility’s social outcomes. Recently, some international conferences including Humboldt University’s gatherings in 2014 and 2016 have also raised awareness on this proposition. The corporate sustainability and responsibility concept is linked to improvements to the companies’ internal processes including environmental management, human resource management, operations management and marketing (i.e. Corporate Sustainability). At the same time, it raises awareness on the
businesses’ responsible behaviours (i.e. Corporate Responsibility) toward stakeholders including the government, suppliers, customers and the community, among others. The fundamental motivation behind this approach is the view that creating connections between stakeholders in the value chain will open-up unseen opportunities for the competitive advantage of responsible businesses, as illustrated in Figure 1.

cs model

Multinational organizations are under increased pressures from stakeholders (particularly customers and consumer associations) to revisit their numerous processes in their value chain activities. Each stage of the company’s production process, from the supply chain to the transformation of resources could add value to their businesses’ operational costs as they produce end-products. However, the businesses are always expected to be responsible in their internal processes toward their employees or toward their suppliers’ labour force. Therefore, this corporate sustainability and responsibility perspective demands that businesses create economic and societal value by re-aligning their corporate objectives with stakeholder management and environmental responsibility. In sum, corporate sustainability and responsibility may only happen when companies demonstrate their genuine willingness to add corporate responsible dimensions and stakeholder engagement to their value propositions. This occurs when businesses opt for responsible managerial practices that are integral to their overall corporate strategy. These strategic behaviours create opportunities for them to improve the well-being of stakeholders as they reduce negative externalities on the environment. The negative externalities can be eliminated by developing integrated approaches that are driven by ethical and sustainability principles. Very often, multinational businesses are in a position to mitigate risk and to avoid inconveniences to third parties. For instance, major accidents including BP’s Deep Horizon oil spill in 2010, or the collapse of Primark’s Rana Plaza factory in Bangladesh, back in 2013, could have been prevented if the big businesses were responsible beforehand.

In conclusion, the corporate sustainability and responsibility construct is about embedding sustainability and responsibility by seeking out and connecting with the stakeholders’ varied interests. As firms reap profits and grow, there is a possibility that they generate virtuous circlesof positive multiplier effects (Camilleri, 2017). Therefore, corporate sustainability and responsibility can be considered as strategic in its intents and purposes. Indeed, the businesses are capable of being socially and environmentally responsible ‘citizens’ as they are doing well, economically. This theoretical paper has contributed to academic knowledge as it explained the foundations for corporate sustainability and responsibility. Although this concept is still evolving, the debate among academic commentators is slowly but surely raising awareness on responsible managerial practices and on the skills and competences that are needed to deliver strategic results that create value for businesses, society and the environment.

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RESEARCH: The Small Business Owner-Managers’ Attitudes toward Digital Media

An Excerpt from my latest paper: Camilleri, M.A. (2018). The SMEs’ Technology Acceptance of Digital Media for Stakeholder Engagement. Journal of Small Business and Enterprise Development (Forthcoming).


small-businesses-social-media

This contribution sheds light on the SME owner-managers’ attitudes toward the pace of technological innovation, perceived use and ease of use of digital media; as they communicate and interact with interested stakeholders online. It also explored their stance on responsible entrepreneurship, specifically on commercial, ethical and social responsibilities, as well as on their willingness to support other responsible stakeholders.

This empirical study and its theoretical underpinnings contribute to an improved understanding as to why today’s SMEs are expected to communicate with stakeholders through digital media. At the same time, it raises awareness of responsible entrepreneurial initiatives that could be promoted through digital media, including; corporate websites, social media and blogs, among others.

Generally, the results reported that there were high mean scores and low standard deviations, particularly when the participants were expected to indicate their attitudes on their commercial and ethical responsibilities. The nature of the SMEs’ CSR activities is usually integrated into their company culture, often implicitly in habits and routines that are inspired by highly motivated owner-managers; rather than explicitly in job descriptions or formalized procedures (Jenkins, 2006). The factor analysis indicated that the SME owner-managers were increasingly perceiving the usefulness of digital media to engage with marketplace stakeholders, including; consumers, suppliers and other businesses, as they promoted their responsible entrepreneurship behaviors.

The communications on their businesses’ social responsibility and environmentally-sound practices also served them well to engage with other interested groups; including; human resources, shareholders and investors, among others. This finding mirrors Baumann Pauly et al.’s (2013) argumentation as these authors remarked that each business decision on economic, social, and environmental aspects must take into account all stakeholders. Notwithstanding, the businesses and their marketers need to possess relevant knowledge on their stakeholders, as this will impact on the effectiveness of their CSR communication (Morsing and Schultz, 2006; Vorvoreanu, 2009).

The value of their communications lies in their ability to open-up lines of dialogue through stories and ideas that reflect their stakeholders’ interests (Fieseler and Fleck, 2013; Moreno and Capriotti, 2009). For these reasons, companies cannot afford to overstate or misrepresent their CSR communications. Their online communication with stakeholders could foster positive behaviors or compel remedial actions, and will pay off in terms of corporate reputation, customer loyalty and market standing (Tantalo and Priem, 2016; Du et al, 2010).

This study suggests that the SME owner-managers were recognizing that they had to keep up with the pace of technological innovation. Yet there were a few participants, particularly the older ones, who were still apprehensive toward the use of digital media. Eventually, these respondents should realize that it is in their interest to forge relationships with key stakeholders (Lamberton and Stephen, 2016; Taiminen and Karjaluoto, 2015; Rauniar et al., 2014; Uhlaner et al., 2004). This research posits that the owner-managers or their members of staff should possess relevant digital skills and competences to communicate online with interested parties.

Likewise, Baumann Pauly et al., (2013) also recommended that the managers must be trained, and that their CSR activities must be evaluated. These findings are in line with other contributions (Spence and Perrini, 2011; Perrini et al., 2007) that have theoretically or anecdotally challenged the business case perspective for societal engagement (Penwar et al., 2017; Baden and Harwood 2013; Brammer et al. 2012).

The regression analysis has identified and analyzed the determinants which explain the rationale behind the SME owner-managers’ utilization of digital media for stakeholder engagement and for the promotion of responsible entrepreneurship. It reported that the respondents’ technology acceptance depended on their perceived “use” and “ease of use” of digital media; and on their willingness to communicate online on their commercial, ethical and social responsibilities.

The results from the regression analysis reported positive and significant relationships between the SMEs’ online stakeholder engagement and the pace of technological innovation; and between the SMEs’ online engagement and the owner-managers’ perceived usefulness of digital media. This study indicated that the pace of technological innovation, the owner-managers’ perceived ease of use of the digital media, as well as their commercial responsibility were significant antecedents for their businesses’ online communication of their responsible behaviors. Arguably, the use of technology is facilitated when individuals will perceive its usefulness and its ease of use (Davis, 1989).

In fact, the findings from this research have specified that the owner-managers’ intention was to use digital media to communicate about their responsible entrepreneurship. They also indicated their desire to use this innovation to engage with stakeholders on other topics, including commercial and ethical issues. This is in stark contrast with Penwar et al.’s (2017) findings, as the authors contended that the SME owner-managers’ perceptions on social engagement did not hold the same virility when compared to the context of their larger counterparts. These authors argued that the tangible benefits of CSR engagement had no effect on SMEs. In a similar vein, Baumann Pauly et al.’s (2013) study reported that the larger businesses were more effective than SMEs in their CSR communications.

However, the findings from this study’s second, third and fourth regression
equations indicated that the small and micro businesses were using digital media to improve their stakeholder engagement and to communicate about their responsible entrepreneurship issues.

Implications and Conclusions

SME managers and executives are in a position to enhance the effectiveness of their businesses’ communication efforts. This study has identified and analyzed the SME owner-managers’ attitudes toward the utilization of digital media for the communication of commercial, ethical and social responsibility issues.

Previous academic research has paid limited attention to the technology acceptance of digital media among small businesses, albeit a few exceptions (Taiminen and Karjaluoto, 2015; Baumann Pauly, Wickert, Spence and Scherer, 2013; Durkin et al., 2013; Taylor and Murphy, 2004). In this case, the research findings indicated that digital technologies and applications were perceived as useful by the SME owner-managers. This implies that the utilization of digital media can be viewed as a critical success factor that may lead to an improved engagement with stakeholders.

Several SMEs are already communicating about their responsible entrepreneurship through conventional and interactive media, including; social media, review sites, blogs, et cetera. These savvy businesses are leveraging their communications as they utilize digital media outlets (e.g., The Guardian Sustainability Blog, CSRwire, Triple Pundit and The CSR Blog in Forbes among others) to improve their reach, frequency and impact of their message.

In addition, there are instances where consumers themselves, out of their own volition are becoming ambassadors of trustworthy businesses on digital media (Du et al., 2010). Whilst other stakeholders may perceive these businesses’ posturing behaviors and greenwashing (Camilleri, 2017; Vorvoreanu, 2009).

A thorough literature review suggested that the positive word-of-mouth publicity through digital media may lead to strategic and financial benefits (Camilleri, 2017; Taiminen and Karjaluoto, 2015; Durkin et al., 2013). Therefore, businesses, including SMEs, are increasingly joining conversations in social media networks and online review sites. These sites are being used by millions of users every day. Indeed, there is potential for SMEs to engage with their prospects and web visitors in real-time.

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The Corporations’ Non-Financial Disclosures

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The American Institute of Certified Public Accountants’ Jenkins Report may be considered as one of the major documents that has provided the foundations for non-financial disclosures. Notwithstanding, there were other guidelines that were developed by other non-governmental organizations (NGOs), including; the Global Reporting Initiative, AccountAbility, Accounting for Sustainability (A4S), the World Intellectual Capital Initiative (WICI), the Enhanced Business Reporting Consortium, the CDP (formerly known as the Carbon Disclosure Project), the International Corporate Governance Network, the Sustainability Reporting Standards Board and the Climate Disclosure Standards Board, among others. The International Standards Organization (ISO), Forest Stewardship Council (FSC), Greenpeace, Rainforest Alliance and Home Depot Certifiable, Fair Trade and the US Department of Agriculture’s USDA Organic Labelling, among others, have formulated uncertifiable, multi-stakeholder standards and instruments to support organizations in their CSR communication. In addition, certain listed corporations are adopting Fortune’s reputation index, the KLD Social index or RepTrak (Camilleri, 2017). Such measures require corporate executives to assess the extent to which their organization behaves responsibly towards the environment and the community. Despite the development of these guiding principles and indices, their appropriateness remains doubtful (Camilleri, 2015).

In 2010, the development of ISO 26000 had represented a significant milestone in integrating socially and environmentally responsible behaviors into management processes. ISO 26000 was developed through a participatory multi-stakeholder process as the International Labor Organization (ILO) had established a Memorandum of Understanding (MoU) to ensure that ISO’s social responsibility standard is consistent with its own labor standards. In fact, ISO 26000’s core subject on ‘Labor Practices’ is based on ILOs’ conventions on labor practices, including; Human Resources Development Convention, Occupational Health and Safety Guidelines, Forced Labor Convention, Freedom of Association, Minimum Wage Fixing Recommendation and the Worst Forms of Child Labor Recommendation, among others. Moreover, ISO’s core subject on ‘human rights’ is based on the Universal Declaration of Human Rights (that was adopted by the UN General Assembly in 1948). On the other hand, many academic commentators argue that ISO 26000 has never been considered as a management standard (Camilleri, 2017). The certification requirements have not been incorporated into ISO 26000’s development and reinforcement process, unlike other standards, including ISO 9000 and ISO 14001. Notwithstanding, ISO 14001 belongs to a larger set of ISO 14000 certifications that conform with the European Union’s Eco-Management and Audit Scheme (EMAS).

The European Union (EU) has developed its non-binding guidelines for the non-financial disclosures of large, public-interest entities that engage more than 500 employees (Stubbs and Higgins, 2015; EU, 2014). The European Parliament mandated Directive 2014/95/EU on non-financial reporting; that was subsequently ratified by the European member states. Therefore, large undertakings are expected to disclose material information on their ESG behaviors. These entities are required to explain any deviations from their directive’s recommendations in their annual declaration of conformity, as per the EU’s “Comply or Explain” principle (Camilleri, 2015; EU, 2014). Their non-financial disclosures include topics, such as; social dialogue with stakeholders, information and consultation rights, trade union rights, health and safety and gender equality, among other issues. Moreover, the organizations’ environmental reporting could cover; material disclosures on energy efficiencies, the monitoring of efficiency levels their energy generation capacities, assessments on the co-generation of heating facilities, the use of renewable energy, greenhouse gas emissions, water and air pollution prevention and control from the production and processing of metals, mineral industry, chemical industry, waste management, livestock farming, etc. (Camilleri, 2015). Therefore, large undertakings are expected to bear responsibility for the prevention and reduction of pollution. The EU recommends that the large organizations implement ILO’s Tri-partite Declaration of Principles on Multinational Enterprises and Social Policy, as well as other conventions that promote the fair working conditions of employees. It also makes reference to the OECD Guidelines for Multinational Enterprises, the 10 principles of the UN Global Compact, the UN Guiding Principles on Business and Human Rights, and mentions ISO 26000 Guidance Standard on Social Responsibility (EU, 2014). Following, the EU’s mandate for non-financial reporting, it is expected that 6,000 European public interest entities will be publishing their sustainability reports in 2018, covering financial year 2017-2018 (GRI, 2017).

 


Additional Reading:

Camilleri, M.A (2015). Environmental, Social and Governance Disclosures in Europe. Sustainability Accounting, Management and Policy Journal. 6 (2), 224 – 242. Emerald.  http://www.emeraldinsight.com/doi/abs/10.1108/SAMPJ-10-2014-0065 Download this paper

Camilleri, M.A. (2015). Valuing Stakeholder Engagement and Sustainability Reporting. Corporate Reputation Review, 18 (3), 210-222. Palgrave Macmillan DOI:10.1057/crr.2015.9 http://www.palgrave-journals.com/crr/journal/v18/n3/full/crr20159a.html Download this paper

Camilleri, M.A. (2017). Measuring the corporate managers’ attitudes toward ISO’s social responsibility standard. Total Quality Management & Business Excellence. (forthcoming). http://dx.doi.org/10.1080/14783363.2017.1413344 http://www.tandfonline.com/doi/full/10.1080/14783363.2017.1413344 Download this paper

Camilleri, M.A. (2017). Corporate Sustainability, Social Responsibility and Environmental Management: An Introduction to Theory and Practice with Case Studies. Springer, Heidelberg, Germany. ISBN 978-3-319-46849-5 http://www.springer.com/us/book/9783319468488

CSRWire (2015). Environmental, Social and Governance Reporting in Europe. http://www.csrwire.com/blog/posts/1574-environmental-social-and-governance-disclosures-in-europe

 

 

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Emerald’s must-read textbook for tourism students and practitioners

“Tourism Planning and Destination Marketing” was recently edited by Dr. Mark Anthony Camilleri, Ph.D. (Edinburgh).

This publication is written in an engaging style to entice the curiosity of its readers. It presents all the theory and the empirical studies in a simple and straightforward manner. It reports on the global tourism marketing environments that comprise a wide array of economic, socio-cultural and environmental issues. It also explains how ongoing advances in technology are bringing interesting developments in the tourism industry and its marketing mix.

This authoritative book provides theoretical and empirical insights on different tourism topics, including; destination marketing and branding, sustainable and responsible tourism, tourism technologies, digital marketing, travel distribution and more. It is also relevant to the industry practitioners, including consultants, senior executives and managers who work for destination management organisations, tourism offices, hotels, inbound / outbound tour operators and travel agents, among others.


Preface

The marketing of a destination relies on planning, organisation and the successful execution of strategies and tactics. Therefore, this authoritative book provides students and practitioners with relevant knowledge of tourism planning and destination marketing. The readers of this publication are equipped with a strong pedagogical base as they are presented conceptual discussions as well as empirical studies on different aspects of the travel and tourism industries.

The readers of this book will acquire a good understanding of the tourism marketing environment, destination branding, distribution channels, etourism, as well as relevant details on sustainable and responsible tourism practices, among other topics. They will appreciate that the tourism marketers, including destination management organisations (DMOs) are increasingly using innovative tools, including; digital media and ubiquitous technologies to engage with prospective visitors. Hence, this book also sheds light on contemporary developments in travel, tourism, hospitality, festivals and events.

Chapter 1 introduces the readers to the tourism concept as it describes the travel facilitators and motivators. Afterwards, it explains several aspects of the tourism product, including; the visitors’ accessibility, accommodation, attractions, activities and amenities. It categorises different travel markets; including; adventure tourism, business tourism (including meetings, incentives, conferences and events), culinary tourism, cultural (or heritage) tourism, eco-tourism (or sustainable tourism), educational tourism, health (or medical tourism), religious tourism, rural tourism, seaside tourism, sports tourism, urban (or city) tourism, wine tourism, among other niche areas.

Chapter 2 offers a critical review and analysis of relevant literature on the tourism product’s experiential perspective. The authors suggest that the customers’ experience is affected by cognitive, emotional, relational and sensorial aspects.

Chapter 3 examines Plog’s model of venturesomeness. The author provides a thorough review of 26 studies that have adopted this behavioural model. He maintains that this model could be used to identify the travellers’ psychographic characteristics as he correlates them with the destinations they visit.

Chapter 4 focuses on the coopetition features of tourism destinations. The author held that (competing) tourism service providers, including destination marketing organisations often cooperate to deliver positive customer experiences. In addition, he explained how seasonality and colocation issues can influence specific features of coopetition and collaborative practices in tourism destinations.

Chapter 5 explored the residents’ attitudes towards incoming tourism at Punta del Este, Uruguay. The authors suggest that the respondents were perceiving economic benefits from increased tourism figures. However, the same respondents indicated that they were aware about the socio-cultural costs of tourism.

Chapter 6 appraises the notions of sustainable and responsible tourism. It traces the origins of the concept of sustainable development and includes a critical review of key theoretical underpinnings. The author provides relevant examples of the social, environmental and economic impacts of tourism in vulnerable or sensitive climates.

Chapter 7 investigates the tourists’ experiences of Japan’s Tateyama and Hirakawa rural areas. The author suggests that the tourists’ experience of rural tourism has led them to appreciate the Japanese culture.

Chapter 8 sheds light on the eco-tourism concept. Following a thorough literature review, the authors imply that the service providers ought to identify their visitors’ motivation for eco-tourism destinations.

Chapter 9 clarifies how emerging technologies, including; augmented reality (AR) and virtual reality (VR) are being used in the travel and tourism industries. The authors introduce the readers to the term, “phygital” as they argue that the tourists are seeking physical and virtual experiences. They suggest that AR and VR have the power to blend together the individuals’ perception of real and virtual spaces.

Chapter 10 explains the importance of organising events for destination marketing. The authors suggest that festivals and events can create a positive image of a destination. The destinations’ ongoing activities may lead to economic benefits to tourism operators as well as to the community, at large.

Chapter 11 posits that the destinations marketers ought to formulate their strategies prior to the planning and organising of events. The author contends that the effective management of events relies on stakeholder engagement, attracting sponsorships and the use of interactive media.

Chapter 12 describes Smart Tourism Local Service Systems (S-TLSS) that are intended to facilitate the engagement among various stakeholders. The authors suggest that S-TLSS supports the tourism planning and destination marketing in Caserta, Italy.

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Filed under Airlines, Business, Corporate Social Responsibility, destination marketing, digital media, responsible tourism, SMEs, Stakeholder Engagement, Sustainability, tourism, Travel

Closing the loop for resource efficiency, sustainable consumption and production: a critical review of the circular economy

Abstract: The circular economy proposition is not a novel concept. However, it has recently stimulated sustainable consumption and production ideas on remanufacturing, refurbishing and recycling of materials. A thorough literature review suggests that the circular economys regenerative systems are intended to minimise industrial waste, emissions, and energy leakages through the creation of long-lasting designs that improve resource efficiencies. In this light, this research critically analyses the circular economys closed loop systems. The findings suggest that this sustainable development model could unleash a new wave of operational improvements and enhanced productivity levels through waste management and the responsible use and reuse of materials in business and industry. In conclusion, this research implies that closed loop and product service systems could result in significant efficiencies in sustainable consumption and production of resources

How to Cite: Camilleri, M.A. (2018). Closing the Loop for Resource Efficiency, Sustainable Consumption and Production: A Critical Review of the Circular Economy. International Journal of Sustainable Development (forthcoming). DOI: 10.1504/IJSD.2018.10012310

Keywords: circular economy; resource efficiency; corporate sustainability; creating shared value; corporate social responsibility; strategic CSR; stakeholder engagement; social responsibility; recycling resources; reusing resources; restoring resources; reducing resources.

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An Authoritative Textbook on Responsible Management for Business Students

Springer Nature’s “Corporate Sustainability, Social Responsibility and Environmental Management” was one of the top 25% most downloaded eBooks in 2017.

This book can be ordered/downloaded directly from its home pa ge.Alternatively,  it is available in the following online shop(s):


This publication provides a concise and authoritative guide on corporate social responsibility (CSR) and related paradigms, including environmental responsibility, corporate sustainability and responsibility, creating shared value, strategic CSR, stakeholder engagement, corporate citizenship, business ethics and corporate governance, among others. It is primarily intended for advanced undergraduate and / or graduate students. Moreover, it is highly relevant for future entrepreneurs, small business owners, non-profit organisations and charitable foundations, as it addresses the core aspects of contemporary strategies, public policies and practices. It also features case studies on international policies and principles, exploring corporate businesses’ environmental, social and governance reporting.

“Mark Camilleri’s new book provides an excellent overview of the eclectic academic literature in this area, and presents a lucid description of how savvy companies can embed themselves in circular systems that reduce system-wide externalities, increase economic value, and build reputation. A valuable contribution.”
Charles J. Fombrun, Founder of Reputation Institute and a former Professor of Management at New York University and The Wharton School, University of Pennsylvania, USA

“I am pleased to recommend Dr. Camilleri’s latest book, Corporate Sustainability, Social Responsibility, and Environmental Management. The book is a rich source of thought for everyone who wants to get deeper insights into this important topic. The accompanying five detailed case studies on a wide array of corporate sustainable and responsible initiatives are helpful in demonstrating how theoretical frameworks have been implemented into practical initiatives. This book is a critical companion for academics, students, and practitioners.”
Adam Lindgreen, Professor and Head of Department of Marketing, Copenhagen Business School, Denmark

“This book is an essential resource for students, practitioners, and scholars. Dr. Mark Camilleri skillfully delivers a robust summary of research on the business and society relationship and insightfully points to new understandings of and opportunities for responsible business conduct. I highly recommend Corporate Sustainability, Social Responsibility, and Environmental Management: An Introduction to Theory and Practice with Case Studies.”
Diane L. Swanson, Professor and Chair of Distinction in Business Administration and Ethics Education at Kansas State University, KS, USA

“Mark’s latest book is lucid, insightful, and highly useful in the classroom. I strongly recommend it.”
Donald Siegel, Dean of the School of Business and Professor of Management at the University at Albany, State University of New York, NY, USA

“The theory and practice of corporate sustainability, social responsibility and environmental management is complex and dynamic. This book will help scholars to navigate through the maze. Dr Camilleri builds on the foundations of leading academics, and shows how the subject continues to evolve. The book also acknowledges the importance of CSR 2.0 – or transformative corporate sustainability and responsibility – as a necessary vision of the future.”
Wayne Visser, Senior Associate at Cambridge University, UK. He is the author of CSR 2.0: Transforming Corporate Sustainability & Responsibility and Sustainable Frontiers: Unlocking Change Through Business, Leadership and Innovation

“Corporate Sustainability, Social Responsibility and Environmental Management: An Introduction to Theory and Practice with Case Studies” provides a useful theoretical and practical overview of CSR and the importance of practicing corporate sustainability.”
Geoffrey P. Lantos, Professor of Business Administration, Stonehill College. Easton, Massachusetts, USA

“This book offers a truly comprehensive guide to current concepts and debates in the area of corporate responsibility and sustainability. It gives helpful guidance to all those committed to mainstreaming responsible business practices in an academically reflected, yet practically relevant, way.”
Andreas Rasche, Professor of Business in Society, Copenhagen Business School, Denmark

“A very useful resource with helpful insights and supported by an enriching set of case studies.”
Albert Caruana, Professor of Marketing at the University of Malta, Malta and at the University of Bologna, Italy

“A good overview of the latest thinking about Corporate Social Responsibility and Sustainable Management based on a sound literature review as well as useful case studies. Another step forward in establishing a new business paradigm.”
René Schmidpeter, Professor of International Business Ethics and CSR at Cologne Business School (CBS), Germany

“Dr. Camilleri’s book is a testimony to the continuous need around the inquiry and advocacy of the kind of responsibility that firms have towards societal tenets. Understanding how CSR can become a modern manifestation of deep engagement into socio-economic undercurrents of our firms, is the book’s leading contribution to an important debate, that is more relevant today than ever before.”
Mark Esposito, Professor of Business and Economics at Harvard University, MA, USA

“Mark’s book is a great addition to the literature on CSR and EM; it will fill one of the gaps that have continued to exist in business and management schools, since there are insufficient cases for teaching and learning in CSR and Environmental Management in Business Schools around the globe.”
Samuel O. Idowu, Senior Lecturer in Accounting at London Metropolitan University, UK; Professor of CSR at Nanjing University of Finance and Economics, China and a Deputy CEO, Global Corporate Governance Institute, USA

“Corporate Social Responsibility has grown from ‘nice to have’ for big companies to a necessity for all companies. Dr Mark Camilleri sketches with this excellent book the current debate in CSR and CSR communication and with his cases adds valuable insights in the ongoing development and institutionalization of CSR in nowadays business.”
Wim J.L. Elving, Professor at the University of Amsterdam, Netherlands

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The Integrated Reporting of Financial, Social and Sustainability Capitals

An excerpt from my latest paper, entitled, “The Integrated Reporting of Financial, Social and Sustainability Capitals: A Critical Review and Appraisal” that will be published by the International Journal of Sustainable Society (this journal is indexed in Scopus).

 

A thorough literature review suggests that the integrated report is more than just a summary of financial, social, sustainability and governance information in corporate disclosures (Adams, 2015). The integrated disclosures constitute a full picture of a company’s overall business performance. Organisations are looking at all aspects of their value-creating capitals, including; financial; manufactured; intellectual; human; social (and relationship); as well as natural capitals (IR, 2013). These capitals complement and compete against each other. Therefore, the practitioners who would like to comply with IIRC’s <IR> framework will probably experience a dynamic process of adaptation, learning and action to redesign their disclosures. They may have to change their internal management systems, processes and strategies to incorporate ESG issues into their core business model (Camilleri, 2015b, Adams, 2015, Churet & Eccles, 2014; Eccles & Krzus, 2010).

Relevant academic literature has yielded many recommendations, ideas and concepts that have surely improved corporate reporting (Crowther, 2016). This contribution also reported how “integrated thinking” in corporate reporting involves the inclusion of material information on financial and non-financial matters (Adams & Simnett, 2011). Moreover, it linked the organisations’ integrated reporting with the conceptual developments that were conspicuous in the stewardship, institutional and legitimacy theories, among others. This paper has indicated that these theoretical insights have focused on the rationale for the inclusion of non-financial information in corporate disclosures (Adams et al., 2016; Eccles & Krzus, 2010). Although, there are reasonable arguments in favour and against integrated reporting; in sum, the researcher believes that the IIRC’s framework has proved to be a useful instrument for those responsible organisations who are communicating about their financial and non-financial capitals (IIRC, 2017). The framework contains guiding principles and content elements that will enable organisations to disclose a true and fair view of their holistic activities. Conversely, the avoidance of ESG disclosures from their corporate reports can result in a highly-distorted picture of current and future business activities (Camilleri, 2017).

This research has evidenced how the theoretical insights from academic literature have led to the development of integrated reporting. It explained that the organisations’ stewardship behaviours, including their ‘integrated thinking’ can help them improve their legitimacy among stakeholders and institutions. The researcher contended that IIRC’s <IR> framework supports organisations in their holistic reporting approaches as it takes into account material information on financial, manufactured, intellectual, human, social and natural capitals.

Indeed, the IIRC’s <IR> framework was a recent development in corporate reporting. This framework has its inherent limitations that were duly pointed out in this paper. However, this contribution maintains that integrated reporting provides a road map for those organisations who would like to pursue the sustainability path (Dacin et al., 2007). The framework is based on the general notion that integrated accounting considers both financial and non-financial information to give a true and fair view of the company’s overall business performance. When practitioners embed ESG disclosures and “integrated thinking” they help to catalyse positive behavioural change within their respective organisation (Adams & Simnett, 2011). This integrated thinking influences the practitioners’ ethical behaviours and their stance on financial and non-financial performance (Camilleri, 2015b). The researcher believes that the framework’s strategic focus calls for both internalisation and externalisation processes. Internalisation is a process through which the organisation’s human resources adopt the framework’s external ideas, opinions, views or concepts, as their own. This process starts with learning about the reporting framework, and why its development makes sense to the organisation, as a whole. The internal stakeholders will probably experience a process of adaptation until they finally accept that their organisation’s integrated reporting of financial and non-financial capitals creates value over time. Thus, the internalisation process can be understood as a process of acceptance of a new set of norms and working practices that will improve the organisation’s performance, in the long term.

The organisations’ internal transformation may lead to significant changes in terms of the embeddedness of ESG performance in their operational processes. The non-financial disclosures will shed light on the externalities that affect stakeholders and other unrelated parties. In other words, through integrated reporting; the internal effects of integrated reporting are finally externalised outside the organisations’ boundaries. At times, organisations may intentionally or unintentionally conceal ESG information from stakeholders. Certain unethical practices may result from conscious or unconscious organisational behaviours or simply from misconduct when dealing with extensive information outputs.

In conclusion, this contribution suggests that the <IR> framework is a step in the right direction as integrated reporting leads to the re-evaluation of the organisations’ legitimacy (Beck et al., 2015; Dacin et al., 2007; Brown & Deegan, 1998). Hence, IIRC’s framework encourages organisations to report both positive and negative behaviours that substantively affect their ability to create value over the short, medium and long term. Practitioners are also expected to provide an adequate and sufficient context about their strategy, governance and prospects in a balanced way (Camilleri, 2017).

 

References

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