The three major factors associated with corporate social responsibility areMultiple Choiceusing ethically sourced materials, adding diversity to the workplace, and seeking to break even with profits.maximizing positive societal impact, minimizing negative societal impact, and acting in the organization’s best interest in returning a profit.using ethically sourced materials, adding diversity to the workplace, and seeking to return a profit to the shareholders.maximizing negative societal impact, minimizing positive societal impact, and returning a profit to shareholders.acting ethically, always using environmentally friendly products, and acting in the organization’s best interest in returning a profit.
Question
The three major factors associated with corporate social responsibility areMultiple Choiceusing ethically sourced materials, adding diversity to the workplace, and seeking to break even with profits.maximizing positive societal impact, minimizing negative societal impact, and acting in the organization’s best interest in returning a profit.using ethically sourced materials, adding diversity to the workplace, and seeking to return a profit to the shareholders.maximizing negative societal impact, minimizing positive societal impact, and returning a profit to shareholders.acting ethically, always using environmentally friendly products, and acting in the organization’s best interest in returning a profit.
Solution
The correct answer is: maximizing positive societal impact, minimizing negative societal impact, and acting in the organization’s best interest in returning a profit.
This is because corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. By practicing corporate social responsibility, also called corporate citizenship, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.
To engage in CSR means that, in the ordinary course of business, a company is operating in ways that enhance society and the environment, instead of contributing negatively to them. Therefore, the three major factors associated with CSR are maximizing positive societal impact (doing good deeds for society), minimizing negative societal impact (avoiding harm to society or environment), and acting in the organization’s best interest in returning a profit (ensuring the company's sustainability and growth).
Similar Questions
Required informationSkip to questioniSeeIt!: Corporate Social Responsibility This brief video describes the role of a business in relation to its environment. This concept is referred to as Corporate Social Responsibility. This activity is important, because businesses are often viewed and judged by consumers and the community for their overall ability to positively impact the environment through social programs, ethically sourced products, and hiring practices. The goal of this exercise is to demonstrate your understanding of the actions that lead toward a positive public image and good corporate citizenship. Click the ► button to watch the video. Then, answer the questions that follow. When companies follow the key factors of Corporate Social Responsibility, a ________ usually results, thus ________.Multiple Choicepositive public image; repelling more customersnegative public image; attracting more customersnegative public image; repelling more customerstax benefit; increasing profitspositive public image; attracting more customers
Task: Discuss the concept of ‘purpose washing’ in the context of business ethics andcorporate social responsibility (CSR).You are required to write a 2000-word essay that includes the following: Define and explain what purpose washing is Analyse the motivations behind companies’ efforts to showcase social andenvironmental initiatives Critically evaluate the potential ethical dilemmas and consequences that arise whengenuine commitment to purpose is overshadowed by marketing strategies Suggest strategies to mitigate purpose washing while fostering authentic corporatesocial responsibility Provide real-world examples throughoutRemember, your arguments, analysis and recommendations must be supported by citation.You must give due credit to the works of others that you use (see the Essay Guidelines and thematerial on Citation on MyAberdeen). Also remember that any work you cite must appear inyour bibliography and that works you don’t cite should not be in your bibliography (see EssayGuidelines and material on Bibliography on MyAberdeen).Read relevant sections from the course textbook and assigned readings found on MyAberdeenas closely as possible and take detailed notes as appropriate.Undertake further reading by; consulting relevant academic texts available within the library,accessing journal articles through Google Scholar (see https://scholar.google.co.uk/) and othersources (e.g., those available online). Avoid the use of Wikipedia as this does not always containaccurate information. It can be useful in pointing you towards other resource’s, but it is not agood one in itself.You should submit your assignment answer in essay format, including a word count.You must cite and include in your bibliography a minimum of three peer-reviewed academicjournals and one academic textbook. You may use headings to help structure your essay if you wish but be aware that this is an essayand not a report.Your work should adhere to the following basic structure – see below.• Title and word count.• Main section• BibliographyYour answers to the question will be assessed based on the following marking criteria:Excellent Very Good Good Pass BelowIntroduction (10%) – Do you provide adetailed description of the topic? Do youensure that the purpose of your essay isclear, stating the aims and objectives orgo off into irrelevant arguments?Critical evaluation of purposewashing (35%) Do you analyse existingarguments and think what is good/ bad/missing/ limiting about them? Do yourefer to existing theory/ies model/s indeveloping your arguments? Do youeffectively apply thesetheoy/ies/model(s)?Use of examples to illustratepoints and justify arguments(15%) – Do you draw on real-worldexamples to illustrate and strengthen yourarguments/analysisRecommendations/strategies (20%) –are your recommendations specific anddetailed, offering a close connection withthe business ethics and/or CSR issue(s)identified in your analysis? Do you makegood use of prior research, includingscholarly articles to support theserecommendations?Writing style, flow and grammar(10%)Do you use appropriate English,paragraphs, and linkage sentences? Isyour essay structured and organised to aidcomprehension? Are your references citedappropriately?Sources/Referencing (10%)
How can organizations promote corporate social responsibility?*a. Address community needs and concerns for business gainb. Implement fair labor practices and supply chain ethicsc. Increase transparency about other organizational actionsd. Decrease unethical practices for short-term gains
Corporate social responsibility (CSR) has been fundamentally integrated into the operating principles of global businesses. With corporations becoming more aware of their societal repercussions, perceptions towards business practices are transforming. ______ the fusion of CSR initiatives into principal business strategies is progressively recognized as indispensable from an ethical standpoint and for enduring viability.26 Mark For Review26Which choice completes the text with the most logical transition?A) Consequently, B) In comparison, C) Moreover, D) To illustrate, Select Answer(s)
Why do businesses adopt ethical strategies? Group of answer choices It demonstrates corporate value and business principles It’s in compliance with the law It’s in the best interest of shareholders It’s a good marketing exercise
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