ADM 1101 Lecture Notes - Lecture 10: Csa Group
27 Feb 2016
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Self-regulation: regulation imposed by the corporation or industry and not by the government or market forces. No need for government-imposed laws or regulations. Consumers can force companies to behave in particular ways by refusing to purchase goods or services or through boycotts. Corporate self-discipline regulation: mission, values statement, codes of conduct or ethics o. Token basis and not for true intention of being a csr company. Industry self-regulation voluntary codes o: members of an industry can attempt to influence corporate behaviour and even enforce standards, associations regulate these standards. Self-regulation involving stakeholders o o the industry includes non-industry stakeholders by its own volition in the development, application and enforcement of standards. Stakeholders would include rep. from consumers and government or independent member of society (ngos) such as canadian standards association. Some outside body voluntarily negotiates regulatory standards for example an ngo- separate entity from the business: not common because it is expensive.
