Corporate Social Responsibility

Question 1

Pros of csr

Answer 1

1. Balance corporate power with responsibility
2. Discourage regulations
3. Promote long term profits
4. Improve stakeholders relationship
5. Improve business reputation

Question 2

Cons of csr

Answer 2

1. Lower economic profits & efficiency
2. Impose unfair costs among competitors
3. Impose hidden costs to stakeholders
4. Business lack required skills
5. Responsibility on corporations than on individuals

Question 3

Enlightened self interest

Answer 3

Providing value to stakeholder is in the company’s long term self interest

Because of reputation and brand loyalty

Question 4

Principles of corporate citizenship

Answer 4

ESSECECI

1. Ethical biz behavior
2. Suppliers
3. Stakeholders commitment
4. Employees
5. Community
6. Environment
7. Consumers
8. Investors

Question 5

B corporation

Answer 5

Focus on social responsibility by blending both social and financial goals

Question 6

Corporate citizenship

Answer 6

1. Proactively build stakeholder relationship
2. Discover opportunities to serve society
3. Vision of integrated financial and social performance

Question 7

Corporate social responsibility

Answer 7

Enhance society and be accountable for its actions that affect people, communities and environment