Question: Levy and Kaplan argue that CSR initiatives are assuming global governance functions, but that these initiatives represent a contested terrain. On the one hand, they

Levy and Kaplan argue that CSR initiatives are assuming global governance functions, but that these initiatives represent a “contested terrain.” On the one hand, they seem to offer new possibilities for democratic problem-solving and enhanced corporate accountability; on the other hand, these new CSR initiatives may threaten to bring about a privatization of governance. What is meant by “privatization” of regulatory authority here? Explain, giving examples from real life organisations.

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