Corporate social responsibility (CSR) has become a badge of respectability for major companies. But voluntary initiatives to promote socially responsible business practices can never replace protective legislation. Nevertheless, financial incentives would increase their effectiveness and improved inspectorates could encourage small and medium sized firms to improve their labour practices. Source(s):
‘Decent Workplaces, Self-Regulation and CSR: From Puff to Stuff?’, DESA Working Paper 62, DESA: New York, by Guy Standing, 2007 (PDF)