Corporate Social Responsibility

Question 1

What are the factors of corporate social responsibility?

Answer 1

1. Sustainability
2. Business Ethics
3. Shareholders
4. Stakeholders
5. Profit

Question 2

What are the factors of CSR’s Pyramid? (4 responsibilities (bottom to top))

Answer 2

1. Economic
2. Legal
3. Ethical
4. Philanthropic

Question 3

What are the Strengths to CSR

Answer 3

1. easy to understand
2. simple message
3. emphasizes importance of profit

Question 4

What are the limitations to CSR?

Answer 4

1. Perhaps too simple
2. ethics should be at the top
3. green washing

Question 5

Ways to be Ethical

Answer 5

1. Donating to charities.
2. Treat employees well.
3. Keeping the workplace safe.
4. keep hours for working flexible.

Question 6

Costs to being ethical

Answer 6

1. costs a lot of money.
2. can take a lot of time.
3. Reduces shareholder wealth.
4. Reduces innovation.