Topic 2

Question 1

What is social

Answer 1

-refers to people

Question 2

What is Responsibility

Answer 2

-refers to a duty or obligation towards someone

Question 3

What is Social Responsibility

Answer 3

-refers to a businesses obligation towards the welfare of people

Question 4

What are Stakeholders

Answer 4

• Employees
• Suppliers
• Consumers
• Shareholders
• Investors
• Regulators
• Communities

Question 5

What is the Definition of corporate social repsonsibility

Answer 5

• To conduct business operations in such a way that it contributes to the welfare of stakeholders and the environment
• It is about businesses doing more than what is expected of them by regulators.
• Not only does a business’s involvement in corporate social responsibility benefit communities and the environment, it also benefits the business itself.

Question 6

How does it help for business being involvement

Answer 6

• Helps to recruit the best candidates.
• Helps to improve a business’s image.
• Helps to build customer loyalty.
• Helps to attract investors who want to invest in a business that is socially responsible.

Question 7

What are the Initiatives taken by businesses

Answer 7

• Each business has its own way of being socially responsible.
• Some businesses focus more on uplifting communities, while other businesses focus on the environment.

Question 8

What are the Social Responsibility Initiatives taken by businesses

Answer 8

• Protecting the environment.
• Providing education and training for disadvantaged people.
• Delivering services that government is slow to deliver.
• Investing in the well-being of employees, their families and communities.
• Investing in potential customers and their major stakeholders.
• Investing in potential suppliers and small businesses that can impact on job creation and poverty alleviation.