CSR

Question 1

CSR Definition:

Answer 1

Companies decide voluntarily to contribute to a better society and a cleaner environment and whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis

Question 2

What are the theoretical bases for CSR?

Answer 2

1. The stakeholder theory, making a normative assumption that businesses have a social accountability duty to their stakeholders.
2. The legitimacy theory, explaining CSR as a mechanism that allows businesses to continue operating with tacit stakeholders approval, by providing sufficient accountability to satisfy these stakeholders.

Question 3

Accountability is about?

Answer 3

1. Accepting responsibility fair actions and outcomes ( good or bad)
2. Delivering performance in respect of obligations and expectations
3. Accounting for actions and or inactions

Question 4

CSR reporting is primarily driven by two aspects:

Answer 4

1. The first is the significant emphasis that organizations have placed on responsible corporate citizenship as a tool for reputation management - presenting a polished report on CSR can mean the difference between a good reputation and an average to poor reputation
2. The second is that reporting framework have presented organizations with a tangible structure onto which they can anchor their CDR programms

Question 5

What are the areas which business activities and outputs be performed against measures and targets according to King IV?

Answer 5

1. The workplace - employment equity, fair remuneration, safety, health and dignity of employees
2. The economy: economic transformation, prevention, detection and responsive to fraud and corruption, and transparent, responsible tax policy
3. Society - public health and safety, consumer protection, community development and protection of human rights
4. The environment - responsibilities with regards to pollution, waste disposal and protection of biodiversity