Question 1

What is meaning of corporate social responsibility?

Accepted Answer

Corporate social responsibility or CSR is a regulatory business model followed by organizations who would like to become socially accountable to various stakeholders, consumers and the public at large.

Question 2

What is the main purpose of corporate social responsibility?

Accepted Answer

The main purpose of CSR or Corporate social responsibility is to integrate both social and environmental goals across business operations. Mainly CSR results in cost control, brand substantiation, talent attraction and facilitation of long-term success.

Question 3

What are the main characteristics of CSR?

Accepted Answer

6 core characteristics of CSR are; (1) voluntary activities that go beyond those prescribed by law, (2) internalizing or managing externalities, (3) multiple stakeholder orientation, (4) alignment of social and economic responsibilities for profit maximization, (5) practices and values about u201cwhy they do itu201d and (6) acknowledging that CSR is more than philanthropy.

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