Question

The Board of Directors should be actively involved in the implementation of each of the company's Corporate Responsibility programs. Based on the above statement, state your opinion whether you agree or disagree with the statement by submitting three (3) arguments.

More explaination please

Answer 1

Corporate Social Responsibility:

Corporate social responsibility may be a self-imposed restriction by the companies on their activities. It's supported ethics, companies following corporate social responsibility policies always strive to develop the society and environment. CSR refers to those activities through which companies control their actions and check whether they are following ethical and legal norms. CSR should be followed voluntarily by each and each company whether it's small or big, or multinational or local. It involves various issues associated with society, economy, and environment. Activities involving CSR is suffering from the changes within the market.

In most of these companies, members of the Board of Directors are directly involved within the decision-making, and therefore, the implementation of every of the firm's corporate responsibility programs. The following are the arguments in favor of the concept;

1. Changed Public Expectation of Business: the foremost important argument in favor of CSR is said to the inspiration of the structure called business. Within the present times, the society has evolved into an understanding that companies should fulfill their social responsibilities reciprocally for what it's received from the society, viz., the charter to exist and perform its activities. Businesses survive and prosper due to society at large. Firstly, society buys goods/services sold by businesses to satisfy their needs. Secondly, society pays taxes to the government, which are employed by the government to supply various facilities and benefits to businesses.
2. Improved Business Environment: Businesses can thrive during a peaceful environment, and during a happy society. To satisfy CSR, businesses provide better facilities and amenities for the society and perform welfare activities — of these create a peaceful and happy environment and enhanced quality of life for society. Also, the fulfillment of CSR creates an environment of trust and confidence, leading to lesser labor problems, and good management-labor relationships.
3. Enhanced Reputation: a corporation that diligently fulfills CSR enjoys a superb reputation, which translates into an outsized number of loyal customers; faithful employees; and straightforward availability of credit from lenders.

The observations explained above where strongly agree as true with the statement that the board of directors actively involved within the implementation of every of the company's corporate responsibility programs.