On December 8th the GMBA team travelled to the Shin Marunouchi Building in Tokyo to film an Economist Intelligence Unit seminar on Corporate Social Responsibility. The seminar, entitled "The Internal and External Benefits of CSR" looked at what CSR means in Japan, how Japanese companies should be developing their international CSR programs, and how these programs can drive profitability.

In 1970, Milton Friedman famously argued that the business of business is business. In a nod to Friedman, Kenneth Cukier of the EIU began the seminar by asking "Is CSR any more than just marketing?" Cukier concluded that Corporate Responsibility may be viewed as little more than enlightened self interest. In response, the seminar panel, comprised of executives from Coca Cola, Nissan, Lawson, and Dow Chemical, were keen to point out that their CSR initiatives were genuinely concerned with social welfare and not only corporate financial gain.

The panelists went on to explain how their respective corporations were currently managing CSR activities. For the most part, 'green' policies were the order of the day, as they offer corporations the opportunity to 'do the right thing' as well as the most profitable thing. Cutting carbon footprints and using eco-friendly bags were highlighted as two ways in which the corporations were supporting social welfare.

Recent academic research has suggested that good corporate behavior leads to good financial performance, but the evidence for this theory is still weak. Still, the panelists reported that they must respond to and act upon societal concerns, such as environmental sustainability and diversity, in order to remain competitive. In addition, it was pointed out that the more corporations practice CSR, the smarter their leaders will be perceived to be.