Corporate Social Responsibility

• What does CSR stand for?

  Corporate Social Responsibility
• What is the main goal of Corporate Social Responsibility?

  To exceed basic legal requirements
• How might a business satisfy employees under CSR?

  By offering safe working conditions
• What is one way businesses can satisfy customers through CSR?

  By offering reliable products
• How do businesses satisfy shareholders according to CSR principles?

  By increasing share price and paying dividends
• What is a method for businesses to satisfy suppliers under CSR?

  By making regular on-time payments
• How can businesses satisfy the community through CSR?

  By creating employment opportunities
• What is a disadvantage of implementing CSR?

  It can increase business costs
• How can CSR ultimately benefit a business?

  By attracting customers and increasing market share
• What are the four levels of Carroll's Corporate Social Responsibility Pyramid?

  • Economic
  • Legal
  • Ethical
  • Philanthropic
• What is the first responsibility a business should fulfill according to Carroll's Pyramid?

  Its economic responsibility
• What is an example of a legal responsibility for businesses?

  Paying employees the national minimum wage
• What does ethical responsibility involve for a business?

  Making moral decisions for employees
• What is an example of philanthropic responsibility?

  Supporting charitable events
• What does the shareholder concept emphasize?

  Raising value for shareholders
• What is the primary focus of profit maximization according to the shareholder concept?

  Increasing share prices