CSR

Question 1

what is CSR

Answer 1

business is assessing and taking responsibility for it’s effects on environment and impact on social welfare
businesses bear a responsibility beyond shareholders

Question 2

conscious capitalism

Answer 2

businesses need to rethink profit to balance ethical behavior
doing more than minimum
creates value for all stakeholders
focused leadership
profit v principal issue
easier for small business and large have to justify to shareholders and CEO

Question 3

benefits of CSR policy

Answer 3

adds value to stakeholders
allows business to pursue higher purpose
improve reputation
improve relationships with suppliers
USP
more ethical image, increase customers (PEOD)

Question 4

limitations of CSR policy

Answer 4

can increase costs, more expensive suppliers
can affect profit and shareholder wealth
time and resource heavy
need to advertise which has costs