Question 2 Corporate social responsibility (CSR) as actions of an organization that are targeted towards the...

Question 2
Corporate social responsibility (CSR) as actions of an organization that are targeted towards
the achievement of a social benefit over and above maximizing profits for its shareholders
and meeting all its legal obligations. Deciding how to communicate CSR can be difficult.

(a) Discuss FOUR (4) the driving forces behind corporate social responsibility (CSR).

(b) Describe TWO (2) types of corporate social responsibility (CSR). Provide ONE (1)
example for each types of CSR.

Expert Solution

a) The fundamental driving forces behind Corporate Social Responsibility of any organization are as follows:

Sustainability: Every company is striving hard for making its business sustainable. The CSR activities and interventions of the organization will facilitate the long term sustainability quotient of the business.
Knowledge and Awareness: The overall knowledge and awareness level of both consumers and employees is enhancing. The employers are also becoming aware about the importance of giving back to the society. Hence they are getting inclined to CSR interventions.
Globalization: Globalization has enhanced the overall visibility as well as viability of business. The companies are having coverage across the globe. The wealth creation rate of the companies has also increased. In such a scenario, companies feel responsible for the society and environment and hence get aligned with CSR.
Consumer Expectations and Brand value: With the advent of technology, consumers have become more aware. Also the transparency in business processes has enhanced. In such a scenario, consumers value companies who are socially responsive. Customers like to be associated with such moral companies. Hence the companies are getting attracted to CSR interventions to increase their brand value.

b) The 2 primary types of Corporate Social Responsibility (CSR), are as follows:

Philanthropic responsibility: The focus of this CSR is doing good to overall society and humanity. The companies come up with ways in which the development and upliftment of overall society can be facilitated. There are donations and efforts put to facilitate the same. The organizations come up with interventions for facilitating the education of girl child, orphans or to support the employment of the disabled. These are some of the activities conducted under philanthropic responsibility of CSR. Microsoft has Bill and Melinda Gates Foundation to support its philanthropic interventions.
Environmental responsibility: The companies are become aware as well as conscious about the damages done to the environment by their business. The carbon footprint of supply chain of various global companies can be quite detrimental for the ecological balance of the environment. Hence the companies are coming up with interventions to retain the ecological balance and to mend the damages done to the environment. Such interventions can be about planting more trees as well as processing the organization’s waste before discharging in the environment. Companies like Zappos and Tesla Motors are striving hard to reduce their carbon footprint to a minimum.

**Do rate the solution. Thank You.

keosha answered 1 year ago

Define corporate social responsibility (CSR). And explain its importance in running the organization. &nb

Define corporate social responsibility (CSR). And explain its importance in running the organization. (min 100 words – 3 marks)

What is corporate social responsibility (CSR)? Is the principle of CSR one that is likely to...

What is corporate social responsibility (CSR)? Is the principle of CSR one that is likely to be widely adopted by companies around the world. Is it likely to significantly change corporate behaviour? Will behavioural change benefit the public? In your answer refer to examples of companies debating CSR or implementing practices of CSR.

On the subject of Corporate Social Responsibility (CSR) (issue is that CSR is better than Firedman's...

On the subject of Corporate Social Responsibility (CSR) (issue is that CSR is better than Firedman's view of CSR and Conscious capitalism) Does CSR issues impact stakeholders in different ways? What might the views of various stakeholders be on the topic? Place the CSR issue within its historical (when) context. What is the history of the position? Has it changed?

In the _____ model of corporate social responsibility (CSR), social goals are brought into the core...

In the _____ model of corporate social responsibility (CSR), social goals are brought into the core of a firm's business model, and economic goals are balanced against social goals. ethics

Select Organizations that promote Corporate social responsibility (CSR) and answer these: •What are the CSR initiatives...

Select Organizations that promote Corporate social responsibility (CSR) and answer these: •What are the CSR initiatives the organizations are taking? •What CSR strategies are they using? •The four dimensions of CSR, how do the CSR strategies connect with them? •What are the benefits? •What are the likely disadvantages or risks to these CSR initiatives •Are the organizations considering other CSR initiatives?

1. Explain the importance of Corporate Social Responsibility (CSR). 2. What is a values statement and...

1. Explain the importance of Corporate Social Responsibility (CSR). 2. What is a values statement and how important do you think this may be to the strategic process?

Describe the current status of corporate social responsibility (CSR) as an expectation for businesses.

The basic notion of Corporate Social Responsibility (CSR) is that not only the shareholders but all...

The basic notion of Corporate Social Responsibility (CSR) is that not only the shareholders but all groups of society should be given a share from earnings of corporation. Suggest any THREE (3) activities that can be carried out by an Islamic financial institution by giving a relevant example for each.

what is social contract and stakeholder theories of Corporate Social Responsibility (CSR) andexpalin use the social...

what is social contract and stakeholder theories of Corporate Social Responsibility (CSR) andexpalin use the social demandingness, social activist and stakeholder theories of corporate social responsibility in order to discuss the case study below.

QUESTION 3 In contemporary times, almost all organizations are engaged in Corporate Social Responsibility (CSR). Discuss...

QUESTION 3 In contemporary times, almost all organizations are engaged in Corporate Social Responsibility (CSR). Discuss five (5) factors that propel them to engage in CSR.

Question