The document discusses the application of deliberative democracy theory to corporate social responsibility. It describes a theory put forward by Scherer and Palazzo that envisions companies as political actors in a globalized society, participating in deliberative processes involving civil society and governments. This view draws on the theory of deliberative democracy developed by Jurgen Habermas, which derives legitimacy from the involvement of all groups in democratic interaction. However, critics argue that companies may still prioritize their economic interests over public interests in these processes. The document also discusses whether integrated social contract theory or international law standards provide a better normative framework to guide business behavior globally.