Corporate Social Responsibility (CSR)

Question 1

What is CSR

Answer 1

CSR is based on belief that businesses have a greater duty to society than just providing jobs and making profits.

CSR can help improve society and promote positive brand image for companies.

Question 2

What are the four main types of CSR

Answer 2

Environmental responsibility – An organisations commitment to sustainability and environmentally friendly operations.

Economic responsibility – The practice of making financial decisions based on a commitment to doing good.

Philanthropic responsibility – A corporations aims, goals and objectives for actively bettering society as a whole.

Ethical responsibility – A company’s commitment to operate their business in an ethical manner that upholds human rights principle, such as fair treatment of all stakeholders, fair trade practices and equal pay.

Question 3

What is environmental responsibility - CSR

Answer 3

Environmental responsibility – An organisations commitment to sustainability and environmentally friendly operations.

Question 4

What is economic responsibility - CSR

Answer 4

Economic responsibility – The practice of making financial decisions based on a commitment to doing good.

Question 5

What is philanthropic responsibility - CSR

Answer 5

A corporations aims, goals and objectives for actively bettering society as a whole.

Question 6

What is ethical responsibility - CSR

Answer 6

A company’s commitment to operate their business in an ethical manner that upholds human rights principle, such as fair treatment of all stakeholders, fair trade practices and equal pay.

Question 7

The 3 P’s - CSR

Answer 7

People

Planet

Profit