Corporate Social Responsibility

Question 1

What is Corporate Social Responsibility?

Answer 1

A duty for management to take into consideration the broader social welfare of the community when making business decisions.

Question 2

What does CSR stand for?

Answer 2

Corporate Social Responsibility

Question 3

What are some advantages of CSR?

Answer 3

Answers may include
-Enhanced reputation of the company
-Possibility of competitive advantage
-Can promote employee engagement
-can attract investors
-helps in risk mitigation

Question 4

What are some disadvantages of CSR?

Answer 4

Answers may include
-Financial cost will increase
-can lead to inconsistent implementation among departments
-Some companies falsely greenwash
-Difficulty measuring CSR effectiveness
-Balancing stakeholder expectations