which of the following is a business benefit from corporate social responsibility course hero

What is Corporate Social Responsibility (CSR)?

Business; Operations Management; Operations Management questions and answers; Which of the following is a business benefit from corporate social responsibility? revenue decreases increase in brand value risk assessment cost increases; Question: Which of the following is a business benefit from corporate social responsibility? revenue decreases ...

What should a socially responsible firm strive to do?

Jan 04, 2017 · A. Socially responsible companies are good corporate citizens to the community and to the environment . B. Socially responsible companies have fewer conflicts with stakeholder groups who disagree with the company over how it uses its resources .

What are some arguments commonly made against corporate social responsibility?

Why Is Social Responsibility Important? Upload to your portfolio when done Part A: Go to the following website and answer the questions below Corporate Social Responsibility: The Definitive Guide 1. The website separates the benefits for corporation, non-profit and employees, pick the benefit for each that you determine is the most important for each group and explain why …

What is the modern era of corporate social responsibility?

11. Which of the following is a practice related to corporate social responsibility? Instituting reforms to prevent discrimination Giving just salaries to employees Participating in relief operations during calamities All options indicated are related to corporates social responsibility. 12. The presence of many cultures leads to different ...

What are the benefits of corporate social responsibility for businesses?

The potential benefits of CSR to companies include:better brand recognition.positive business reputation.increased sales and customer loyalty.operational costs savings.better financial performance.greater ability to attract talent and retain staff.organisational growth.easier access to capital.

Which of the following websites support corporate social responsibility?

Here's our list of the best sites for resources on corporate social responsibility and sustainability:1% For the Planet. ... 3BL Media. ... B Impact Assessment. ... B The Change. ... Business For Social Responsibility (BSR) ... Business & Human Rights Resource Centre. ... Carbon Disclosure Project (CDP) ... Center for Humane Technology.More items...•May 6, 2019

What are the 4 corporate social responsibility?

Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility.Apr 8, 2021

Which of the following is the importance of CSR?

CSR demonstrates that you're a business that takes an interest in wider social issues, rather than just those that impact your profit margins, which will attract customers who share the same values. Therefore, it makes good business sense to operate sustainably.Jan 26, 2018

What is an example of corporate social responsibility?

The key idea behind CSR is for corporations to pursue other pro-social objectives, in addition to maximizing profits. Examples of common CSR objectives include minimizing environmental externalities, promoting volunteerism among company employees, and donating to charity.

What are some examples of corporate social responsibility?

Some of the most common examples of CSR include:Reducing carbon footprints.Improving labor policies.Participating in fairtrade.Diversity, equity and inclusion.Charitable global giving.Community and virtual volunteering.Corporate policies that benefit the environment.Socially and environmentally conscious investments.Sep 1, 2021

What are the main benefits of social responsibility?

What are the benefits of CSR?CSR increases employee engagement.CSR improves bottom-line financials.CSR supports local and global communities.Contributes to the United Nations' 17 Sustainable Development Goals.Increases investment opportunities.Presents press opportunities.Increases customer retention and loyalty.More items...•Mar 10, 2022

How can a business demonstrate Corporate Social Responsibility?

Here are seven tips you can follow to ensure your company is a responsible corporate citizen.Adopt a business code of ethics. ... Follow a workplace health and safety program. ... Commit to protecting the environment. ... Get your suppliers on board. ... Be smart about donating money. ... Don't greenwash your business.More items...

What is social responsibility of a business?

Social responsibility means that businesses, in addition to maximizing shareholder value, should act in a manner that benefits society. Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them.

What is CSR in business?

Corporate social responsibility (CSR) has become the buzzword of the corporate world during the last decade, and it seems to have become a “must have” for any decent size firm. CSR is a broadly used term, but it essentially refers to any self-regulated initiative that a company might pursue to contribute to a societal goal, ...

How much does Fortune spend on CSR?

Some reports estimate that Fortune Global firms spend around $ 20 billion a year on CSR activities, and that more than 90 percent of the 250 largest companies in the world produce an annual CSR report. This is not too surprising, since investing in CSR appears to pay off, both in terms of sales and lobbying power.