Question 6: Should corporations be regulated by government to ensure that agreed policies in respect of CSR are fully implemented?
             Global markets need global rules. While governments may not want to regulate their firms, they should want to find ways to encourage best practices. Poll after poll reveals that citizens are concerned about globalization and, in particular, the role of corporations. Strategies such as codes of conduct and reporting standards may be tools to address some of the concerns. But in the United States, as in most of the world, citizens are not aware of these strategies and their costs and benefits.
             No one code can fit all sectors, all corporations, or all issues that make globalization controversial. Governments can provide guidance to corporate officials on how to respond to the plethora of codes. Governments can also help promote a rationalization among the codes, many of which are redundant or lack mechanisms for accountability. Moreover, by promoting widespread business adherence to the codes, governments can help ensure that responsible corporate actors are not disadvantaged in global markets.
             The following resource provide information on public policies governments can use and are using to promote corporate social responsibility:
             Globalization presents great opportunities, but difficult choices for policymakers. Global firms bring investment, technology, employment, and cost efficiencies. Thus, policymakers will want to develop policies that encourage foreign investment. But global corporations can also despoil the environment, produce defective products, unfairly compete with domestic firms, or abuse workers. Policymakers are torn between the need to attract such firms and their desire to regulate them.
             However, many government officials are reluctant to regulate global business at the national level. This is particularly true for policymakers in the developing world. Developing country o...