Corporate Social Responsibility Flashcards
1
Q
What is CSR?
A
Corporate social responsibility (CSR) refers to organisations aiming to act in an ethical way or in any way that benefits either society or the environment.
2
Q
What are methods to ensure good CSR?
A
- Ethical and environmental responsibilities, eg avoiding the use of child labour.
- Philanthropy, eg donating to charity.
- Economical responsibilities, eg using fair and competitive marketing.
- Legal responsibilities, eg abiding by laws that governs businesses.
3
Q
What are advantages of CSR?
A
- The business gains a good reputation for its caring nature.
- Customers who agree with the aim are likely to use the business.
- The business can attract high-quality staff who believe in the ethics of the business.
- Society and the environment are kept in good order, which will benefit the business in the long run.