Unit 7: Corporate Social Responsibility

Question 2

What is Corporate Social Responsibility (CSR)?

Answer 2

How a corporation manages its business in order to have an overall positive impact on society.

Question 3

What does the ‘triple bottom line; approach consider?

Answer 3

The economic, social and environmental aspects of corporate activity.

Question 4

What does CSR involve?

Answer 4

• Conducting business in an ethical way, in the interests of the wider community.
• Responding positively to emerging social expectations.
• A willingness to do more than just meet regulatory requirements.
• Balancing shareholder interests against the interests of the wider community.
• Being a good community citizen.