BBA 1st Year Business Ethics Corporate Social Responsibility Short Question Answer : BBA Corporate Social Responsibility Notes Study Material, Social Responsibility of business holders, arguments for and against social responsibility of business, social audit.
BBA 1st Year Business Ethics Corporate Social Responsibility Short Question Answer | Index
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Section-B (Short Answer Questions,) (BBA Notes)
Q.1. What is corporate social responsible,7 (2013)
Or What do you mean by corporate Social responsjbjJi,7
Discuss the social responsjbjlj,
of business with respect to different stakehold (2011)
Or What is social responsibi1ft, of business? (2o1
Ans. Corporate Social Responsibility : Corporate Social Respoflsibiljty (CSR) is becoming an increasingly important activity to businesses nationally and internationally. As globaJizatj0 accelerates and large corporations serve as global providers these corporations have progressively recognized the benefits of Providing CSR prograrns in their various locations. CSR activities are now being undertaken throughout the globe.
Meaning of Corporate Social Responsibility : The term is often used interchangeably for other terms such as corporate citizenship and is also linked to the concept of Triple Bottom Line Reporting (TBL), which is used as a framework for measuring an organisai’5 performance against economic, social and enronmental parameters The rationale for CSR has been articulated in a number of ways. In essence it is about building sustainable businesses, which need healthy economies, markets and Communities
Thus, corporate Social Responsibilitymeans:
(1) Conducng business in an ethical way and in the interests of the wider community
(2) Responding Positively to emerging societal priorjtje5 and expectations.
(3) A willingness to act ahead of regulato confrontation
(4) Balancing shareholder interests against the interests of the wider community
(5) Being a good citizen in the community
Definjtjo5 of Corporate Social Responsibility. Corporate social responsibility is:
(1) “An obligation, beyond that required by the law and economics, for a firm to pursue long term goals that are good for society.”
(2) “The Continuing commitment by business organisai005 to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as that of the local community and society at large”.
(3) “About how a company manages its business process to produce an overall Positive impact on its Society”
The key drivers of CSR are:
(1) Enlightened self-interest in creating a synergy of ethics, a cohesive society and a sustainable global economy where the markets, labour and communities are able to function well in coordination
(2) Social investment- contributing to physical infrastructure and social capital is increasingly seen as a necessary part of doing business.
(3) Transparency and trust- business has low ratings of trust in public perception. There is increasing expectation that companies will be more open, more accountable and be prepared to report publicly on their performance in social and environmental arenas.
(4) Increased public expectations of business – globally companies are expected to do more than merely provide jobs and contribute to the economy through taxes and employment.