Social

• What does CSR stand for?

  Corporate Social Responsibility
• What concept does CSR sit alongside?

  Stakeholder concept
• What is Carol's CSR pyramid used for?

  To illustrate levels of corporate social responsibility
• What are the reasons for implementing CSR?

  • Improves brand image
  • Increases sales
  • Attracts skilled workers
  • Enhances employee retention
  • Growth in ESG funds
  • Access to easier finance
  • Benefits society and the business
• How does CSR potentially improve economic performance?

  By enhancing brand image and sales growth
• What are some societal benefits of CSR initiatives?

  Climate change initiatives and improved workforce skills
• What are the reasons against CSR?

  • Higher costs leading to lower profits
  • Inefficient production methods
  • Potential for increased prices
  • Less feasible during a recession
  • Smaller businesses may struggle with CSR
  • Customer cynicism towards CSR as marketing
• Why might CSR be less feasible for smaller businesses?

  Due to limited resources and lower sales
• How might CSR initiatives affect a business's costs?

  They may lead to higher costs and lower profits
• What could happen if customers perceive CSR as marketing ploy?

  They might become cynical towards the business
• How can CSR initiatives impact shareholder satisfaction?

  Higher costs may lead to lower revenues
• What are the main responsibilities of an organization under CSR?

  To benefit society, environment, and communities