What is corporate social responsibility quizlet?
Correspondingly, what is the best definition for the term corporate social responsibility?
Corporate social responsibility (CSR) is how companies manage their business processes to produce an overall positive impact on society. It covers sustainability, social impact and ethics, and done correctly should be about core business - how companies make their money - not just add-on extras such as philanthropy.
Furthermore, what does it mean to be socially responsible? Social responsibility is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility means sustaining the equilibrium between the two.
In respect to this, what is the best definition for the term corporate social responsibility quizlet?
Corporate Social Responsibility (CSR) "The way a corporation achieves a balance among its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations."
What are the five driving forces of corporate social responsibility quizlet?
- Market Failure awareness.
- Changed Corporate Image.
- The failure of the Public Sector.