CSR

Question 1

Corporate social repsonsibilities

Answer 1

Obligations a business has over and above its legal responsibilities to the wellbeing of employees and customers, shareholder and the community as well as the enviornemnt.

Question 2

How do business benefit through CSR?
Increased sales

Answer 2

Increased sales.
-the community recognises the efforts the organisation is making to act in a socially responsible manner.
-The brand image of the organisation improves and customers become more willing to buy from the organisation.
-this can translate into higher sales and ultimately higher profits.

Question 3

How do business’ benefit through CSR?
Attraction and retention of quality staff.

Answer 3

Attraction and retention of quality staff.
-many people want to work for an organisation that is socially responsible.
-more high quality job applicants means the organisation has the ability to choose the best and brightest.
-high quality staff are more productive, producing more output with each hour they work.

Question 4

How do business’ benefit through CSR?
Reduced costs.

Answer 4

Reduced costs.
reducing or recycling waste can be expensive in the short term because businesses may need to change suppliers or set up recycling facilities, but..
organisations pay for waste to be removed and processed. (It’s not like for residents where the garbage truck picks up your bin and your neighbour’s bin and the council pay for everyone). The less waste an organisation produces the lower their waste costs will be, increasing profits.

Question 5

Stakeholders and Conflict

Answer 5

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