The Corporate Social Responsibility worldview states that firms are governed by three principles: legitimacy; public responsibility;...

The Corporate Social Responsibility worldview states that firms are governed by three principles: legitimacy; public responsibility; and managerial discretion. Discuss two (2) of these principles – what they are and why they matter.

Expert Solution

Answer: Corporate social responsibility means that responsibility of an organisation towards completing the task in best possible manner.

There are various principles of corporate social responsibility as follows :

Public responsibility as it means that an obligation of an organisation towards contribution to an organisation. Ethical behaviour of an organisation and transparency which resulted to sustainable development include health and well being society as well as taken into account expectations of an individual and work towards betterment of the society.Business are responsible for outcome related to there primary and secondary area involvement in the society.
Managerial discretion : It means that it is duty of an organisation as it shows that the management should behave ethical in logical manner .Greater managerial remuneration resulted in better harmony in an organisation. There should usage of resources in best possible manner. Managers and other employees are moral actors and have a duty to exercise discretion towards social responsible , ethical outcomes.

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