“Corporate Digital Responsibility”

TLDR

Digitalization is reshaping private and work life, with pervasive new technologies creating opportunities and challenges, prompting the emergence of Corporate Digital Responsibility to address corporate impacts, risks, and opportunities. The paper reviews Corporate Digital Responsibility through a multi‑step approach. The authors first summarize existing uses and definitions of CDR, then derive a definition, and identify and categorize twenty key CDR topics into ESG categories. An opinion poll of 509 US respondents highlights perceived opportunities and threats, underscoring the need for a strategic CDR approach, and the study discusses theoretical and managerial implications while offering a practical guide for implementing CDR.

Abstract

Abstract Digitalization is leading to profound changes in our private and work lives. New technologies are pervasive and create opportunities for new business models and lifestyles. Recently, the term “Corporate Digital Responsibility” has been coined to summarize the emerging responsibilities of corporations relating to their digitalization-related impacts, risks, challenges, and opportunities. The paper at hand reviews the topic of CDR using a multi-step approach. First, results from an opinion poll of 509 US-based respondents are reported which illustrate the perceived opportunities and threats associated with the topic of digitalization, underlining the need for a strategic approach to CDR implementation. Second, existing uses and definitions of the CDR terminology are summarized and a definition of CDR is derived. Third, twenty important topics related to CDR are identified, summarized and categorized into three categories using the ESG (Environmental, Social, Governance) framework. Finally, results are discussed with regards to their theoretical and managerial contributions and a hands-on guide which companies can use to implement a suitable CDR strategy is presented.