CSR in Latin America: The Moral Case, The Business Case

Different parts of the world use corporate social responsibility (CSR) in different ways. In the U.S., it's often synonymous with corporate philanthropy; in Europe, it's more likely to be associated with how socially responsible the day-to-day management of a company is. In Latin America? Expectations run higher. Its home-grown multinationals (MNCs) -- as well as governments and general public -- view CSR as a way to reduce poverty and address other pressing social issues across the region, while ultimately improving the sustainability of companies, asserts Lourdes Casanova in a published paper written with fellow Insead academic, Anne Dumas, titled, “Corporate Social Responsibility and Latin American Multinationals: Is Poverty a Business Issue?” Recently published in Universia Business Review, the paper raises questions about whether the region's home-grown MNCs are indeed able to run successful businesses while improving the lives of the under-privileged. In an interview with Universia Knowledge@Wharton, Casanova -- who is also the author of a 2009 book titled, Global Latinas: Latin America’s Emerging Multinationals -- shares her thoughts on the subject.

The following are edited extracts of the conversation.....