Corporate social responsibility motives of Australia and South Africa: A socio-economic perspective

Abstract

This study analyses the socio-economic similarities and differences between Australia and South Africa, a developed and developing country, respectively. In particular, we consider the corporate social responsibility motives and mechanisms in lieu of social, economical, cultural and environmental influences in these two countries. The study reveals that, despite some significant similarities, corporate social responsibility values have been constructed with different social, economic and cultural interactions in the aforementioned countries. This is owing to the different socio-economic infrastructure that exists in each country. The study pointed out that it is important for multinational companies and policy makers to understand corporate social responsibility motives of different countries in order to fulfil stakeholders' demands. Also, taking cognizance of the fact that the stakeholders' expectations can vary across nations.