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.

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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.
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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.
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