Which of the following does the term corporate social responsibility relate to
A. Ethical conduct
B. Environmental practices
C. Human rights & employees
D. All these
Answer: All of these
Corporate Social Responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders. CSR is a concept with many definitions and practices.
The International Organization for Standardization (ISO) defines CSR as “part of the business set-up, integrated throughout the business and part of the daily operations, core strategy and in their general ethos and values. ISO 26000 is an international standard that gives guidance on socially responsible behavior and on how to operate in a socially responsible manner.
As with many new concepts, there is no single definition of CSR but it can generally be regarded as a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment. CSR is about how companies integrate social and environmental concerns in their business operations and about their relationship with stakeholders.
CSR activities can include community investments, philanthropy, employing people from diverse backgrounds, offering products that are safe for the environment or consumers, providing financial services to low-income customers, or simply operating with honesty and integrity.