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Chapter Name: Handmaid of ethics: Corporate Social Responsibility Creative Question: (Some question have a requirements which...

Chapter Name: Handmaid of ethics: Corporate Social Responsibility

Creative Question: (Some question have a requirements which is give with the question)

  1. Why social responsibility of business in CSR?- Explain in your own word. ( Requirement: You must include in this topic :Accountability to society and Corporations’ debt to society) .Explain in your own word about The Classical Economic Model & The Socioeconomic Model. Explain in your own word about implementation of CSR.

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CORPORATE SOCIAL RESPONSIBILTY

Corporate social responsibility is the dedication of the business firm to contribute to the Interest of the society.It makes the company socially accountable for the welfare of the public.CSR involves the adherence such as supporting volunteering,charity,health,protection of environment and other ethical activities towards the society.

IMPLEMENTATION OF CORPORATE SOCIAL RESPONSIBILITY

· GET TO KNOW ABOUT YOUR LOCAL COMMUNITY:One best way to implement CSR is to getting to know about your local community around the business.Participate in their local community activitist,analyse the environment etc.

· IDENTIFY THE INTEREST OF THE SOCIETY:Identifying the needs and wants of the societal interest and acting according would help the firm to build a good reputation amoung the community.Examples like taking surveys,discussing with local community can help to collect data about the needs of the society.

· IMPLEMENTING MORE ECO-FRIENDLY METHODS:Encourage the staffs and workers of the firms to be efficient and eco-friendly.Try to save power and electricity when ever possible.

Turn off lights and computers when it is not in use,create awareness campaigns and rallies about the dangers of plastic waste.Thus it make the firm environmentally friendly.

· MOTIVATE AND ENCOURAGE YOUR EMPLOYEES:There should be proper communication amoung the employees and managers in the firm.Taking care of the needs and interest of the employees significantly important as taking care of the society.There should be proper development of overall aspects of employee.Thus it would help in his career development and overall good human.

The Classical Economic Model:

The Classical model states that the wages and prices increases or decreases with respect to the ups and downs of demand. This model was very popular before the great depression period. At this time the economy was free-flowing. during this period those who wants to work is working up to full utilisation of resources which is called potential output and while recession occurs, the work, wages and prices adjust downward.

The Socio economic Model;

Socio Economic model refers to the ability of the members to understand the social and economic issues and solve them by social cooperation.

Rahul Sunny answered 1 year ago
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