5K – CSR considerations and change

Question 1

Corporate social responsibility (CSR)

Answer 1

is the ethical conduct of a business beyond legal obligations, and the consideration of social, economic, and environmental impacts when making business decisions.

Question 2

CSR considerations for employees during change:

Answer 2

• store closures = outplacement services to help employees find alternative work
• new equipment = extra training and support for employees to understand their roles and responsibilities

Question 3

CSR considerations for general community during change:

Answer 3

• changing suppliers = choosing local suppliers to create employment opportunities
• new technology to replace human labour = redeploying employees to other roles in the business

Question 4

CSR considerations for the environment during change:

Answer 4

• changing suppliers = minimise carbon emissions from transport
• new technology = that reduces the number of errors in production