"Theories of Corporate Social Performance (CSP) have been criticized for lacking a clear normative theory of business in society capable of prescribing how management practice can reasonable move from ‘what is' to ‘what should be'. This paper argues for a pragmatic approach to the role and responsibility of business in society in which the normative deficiencies of CPS theory can be strengthened through democratic iterations over some or the other ethical treatise, and thus come to constitute a justified foundation for companies' efforts in the societal arena. We illustrate our approach to a normative theory of business in society by reinterpreting the principles of corporate social responsibility (CSR) – constituting the normative foundation of CSP theory – from the vantage point of sustainable development."

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