| Abstract: | Corporate social policy can be viewed as three legs of a tripod: efficient production, stable employment, and a social and political environment that promotes high performance of both workers and managers. Social policy process consists of achieving a balance of corporate interest with other interests in the society. Each policy position taken by the firm alters its relationships with all other interests and creates a new balance. This entails the risk of creating unfriendly interests and losing the support of others, depending on the issue and shift in power. The substance of policy affects this balance according to varying degrees of risk ranging from low to high: provision of good pay and working conditions, and justice; participation in local community affairs, charitable and cultural contributions, corporate lobbying, and electing candidates. Social policy formation is, thus, the search for a balance of public policy and private interests. It is an experiment in governance; in mediating differences over values between public and private interests. |
