Question

4 (a)  Define CSR.  

4 (b) Assume that you are the Vice President of a large very profitable public limited company, not known for a strong ethical culture. How would you convert it into an ethical organization?

Answer 1

4(a). Define CSR

• CSR Stands for Corporate Social Responsibility
• Corporate Social Responsibility(CSR) is a self-regulated business model that helps a company be socially accountable- to itself,it's stakeholders and the public.
• it is achieved by practicing corporate social responsibility, also called corporate citizenship.
• Companies can be conscious of the kind of impact they are having on all aspects of society, including economic,social and environmental.
• To Engage in CSR means that, in the ordinary course of business, a company is operating ways that enhance society and environment, instead of contributing negatively to them.

4(b). Inorder to convert an ethical organization i will follow the below mentioned steps ;

1. Engage, communicate and train the Staff
2. Engage Staff and other stakeholders such as suppliers,investors,regulators and consumer communities through effective and informative communication.
3. Good, Regular and consistent communication and training will help to embed an ethical culture.
4. Principled Leadership
5. Equitable Systems
6. Ethical Citizenship
7. Make your products ethically. One of many ways that you can be ethical as a business is to make ethical products.
8. Accept Feedback and act on it.
9. Stick to your values.
10. Give back to the community
11. Create an ethical culture..