Corporate social responsibility Questions & Answers(RADED A)

What is CSR? -ANSWER Obligation of organisational management to make decisions and take actions that will enhance the welfare and interests of society as well as the organisation. I.e. responsibility is no longer limited to economic and legal domains Describe Carroll's CSR pyramid -ANSWER Discretionary responsibility - contribute to the community and quality of life Ethical responsibility - be ethical do what is right, avoid harm Legal responsibility - obey the law and maximise profits within the legal framework you operate within Economic responsibility - profit maximisation, business' responsibility is to produce the goods and services that society wants, and to maximise profits for its owners and shareholders What are the benefits of CSR? -ANSWER Image Risk management Resource endowment