Explain corporate social responsibility and why some CEOs of large corporations are engaging in social responsibility...

Explain corporate social responsibility and why some CEOs of large corporations are engaging in social responsibility regardless of the ethical outcomes?

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Expert Solution

• Corporate social responsibility.

It is a type of management in which the companies provide facilities to the society, community and environment and do not harm human rights and environment through their business.

Types of corporate social responsibility.

1. Environmental responsibility.

• To make the environment carbon dioxide free, pollution free.

• Reduce greenhouse effect.

2. Human rights responsibility.

• provide fair labor practice ( equal pay for equal work.)

• Prohibited child labour.

• Fair trade practices.

3.philanthropic responsibility.

• Supporting health initiatives.

• Funding educational programs.

•Supportung community beautification project.

4. Economic responsibility.

• Reduction of the business investment cost through manufacturing process and minimising the wastage.

• Some CEOs of large corporations are engaging in social responsibility because- They can improve their business pattern and reduce investment cost with their competence. Which induces social acceptance of their products and improve their business policies.

Nightingale answered 1 year ago

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