Corporate Social Responsibility (CSR)

Question 1

Corporate Social Responsibility

Answer 1

the implied obligation of managers to serve or protect the interests of groups other than themselves.

Question 2

Corporate Sustainability

Answer 2

focuses on the possible future impact of an organization on society, the economy, and the environment

Question 3

Carroll’s Pyramid

Answer 3

1. Economic responsibilities – The first responsibility of any organization is to deliver an acceptable return for shareholders.
2. Legal responsibilities – The second responsibility requires that organizations operate within the law at all locations where they do business.
3. Ethical responsibilities – The third responsibility requires organizations to consider the social and environmental impacts of their operations and to do no harm while pursuing business interests.
4. Discretionary responsibilities – The fourth responsibility is proactively seeking opportunities to contribute positively to society beyond profitability, compliance, and business ethics.