What is corporate social responsibility refers to?
The term corporate social responsibility (CSR) refers to practices and policies undertaken by corporations that are intended to have a positive influence on the world. The key idea behind CSR is for corporations to pursue other pro-social objectives, in addition to maximizing profits.
What is corporate social responsibility based on quizlet?
A manner of doing business that takes into account the economic, social and environmental impact of the company’s actions. The measure of business performance which includes social, environmental and economical impacts.
What is the best definition for the term corporate social responsibility quizlet?
The definition of corporate social responsibility as the actions of an organization that prioritize social benefit over maximizing profits and meeting legal obligations assumes that. the corporation is operating in a competitive environment.
Who do managers have a primary responsibility to under the economic model of CSR?
says that part of the managerial responsibility to shareholders is to serve the social good. -The economic model of CSR states the primary responsibility of management is to maximize profit within the law.
What is social responsibility quizlet?
Social Responsibility: A business’s obligation to pursue policies, make decisions, and take actions that benefit society.
Why is corporate social responsibility important quizlet?
When a corporation responds to markets, it fulfills its first and most important social responsibility. Creating jobs, paying taxes, and making products is the major impact of a company on society.
What is the best definition of the term corporate social responsibility?
Corporate social responsibility (CSR) is a company’s commitment to manage the social, environmental and economic effects of its operations responsibly and in line with public expectations. CSR activities may include: Company policies that insist on working with partners who follow ethical business practices.
What is social web model of corporate social responsibility?
The social web model views business as a citizen of the society in which it operates and, like all members of a society, business must conform to the normal range of ethical duties and obligations that all citizens face.
What is the role of corporate social responsibility CSR in global organizations?
They define corporate social responsibility as “continuing commitment by business to contribute to economic development while improving the quality of life of the workforce and their families as well as of the community and society at large (World Business Council, 1998).”
What you should know about corporate social responsibility?
“…CSR is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.”
Why do corporations have a social responsibility?
Being a socially responsible company can bolster a company’s image and build its brand. Social responsibility empowers employees to leverage the corporate resources at their disposal to do good. Formal corporate social responsibility programs can boost employee morale and lead to greater productivity in the workforce. Nov 18 2019
Why is social responsibility important to some businesses?
When social responsibility is recognized as part of a company’s business model, it can attract positive publicity, help attract and retain top talent, and improve relationships with customers and their communities. The benefits can be far and wide, including client retention, improved sales, and financial success.
Why should your business care about social responsibility?
A corporate social responsibility program can entice a customer to try your business, and it’s a great way to create loyalty. It can impact the bottom line. Improved reputation and loyalty can lead to better revenue. But, your CSR efforts can also save you money by driving efficiency in your business operations.