Corporate social responsibility is the ethical role of the corporation in society. It refers to actions that businesses take or refrain from taking based on the impact of those actions on the external environment and community Describe a business that you think practices good corporate social responsibility and provide some examples of what this business does to be a good corporate citizen.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
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**Corporate Social Responsibility**

Corporate social responsibility is the ethical role of the corporation in society. It refers to actions that businesses take or refrain from taking based on the impact of those actions on the external environment and community.

### Key Aspects

- **Goal:** Establish clear objectives for responsible business practices.
- **Long Term:** Focus on sustainable and lasting impacts.
- **Sincerity:** Genuine commitment to ethical practices.
- **Market:** Engage responsibly with the marketplace.
- **Responsibility:** Act with accountability towards society.
- **Resources:** Utilize and manage resources wisely.
- **Sustainability:** Ensure practices are environmentally sustainable.
- **Ethics:** Uphold high ethical standards in all operations.

### Activity

Describe a business that you think practices good corporate social responsibility and provide some examples of what this business does to be a good corporate citizen.

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**Diagram Explanation:**

The diagram illustrates the concept of Corporate Social Responsibility (CSR) with a central cloud labeled "CORPORATE SOCIAL RESPONSIBILITY," surrounded by eight labeled icons representing different aspects of CSR: Goal, Long Term, Sincerity, Market, Responsibility, Resources, Sustainability, and Ethics. Each icon symbolically represents its respective key aspect, emphasizing the multifaceted approach needed for effective CSR.
Transcribed Image Text:**Corporate Social Responsibility** Corporate social responsibility is the ethical role of the corporation in society. It refers to actions that businesses take or refrain from taking based on the impact of those actions on the external environment and community. ### Key Aspects - **Goal:** Establish clear objectives for responsible business practices. - **Long Term:** Focus on sustainable and lasting impacts. - **Sincerity:** Genuine commitment to ethical practices. - **Market:** Engage responsibly with the marketplace. - **Responsibility:** Act with accountability towards society. - **Resources:** Utilize and manage resources wisely. - **Sustainability:** Ensure practices are environmentally sustainable. - **Ethics:** Uphold high ethical standards in all operations. ### Activity Describe a business that you think practices good corporate social responsibility and provide some examples of what this business does to be a good corporate citizen. --- **Diagram Explanation:** The diagram illustrates the concept of Corporate Social Responsibility (CSR) with a central cloud labeled "CORPORATE SOCIAL RESPONSIBILITY," surrounded by eight labeled icons representing different aspects of CSR: Goal, Long Term, Sincerity, Market, Responsibility, Resources, Sustainability, and Ethics. Each icon symbolically represents its respective key aspect, emphasizing the multifaceted approach needed for effective CSR.
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