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Question
Distinguish between the following.
Traditional social responsibility and corporate social responsibility.
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Solution
| Basis of Difference |
Traditional Social Responsibility |
Corporate Social Responsibility |
| Meaning | Traditionally, traders and emperors used to help the poor and underprivileged with the profits they made. |
In modern times, business units commit to behave ethically and work towards the welfare of society. |
| Scope | Operates at an individual or micro level | Operates at the macro level, i.e., whole economy |
| Concept | It has the philanthropic concept. |
It includes philanthropic, ethical, legal and economic concepts. |
| Evolution | It evolved in ancient India and the pre-Christian era. | It evolved after the World War II. |
| Type | It includes tangible goals; so, it is narrowly defined. | It includes both tangible and intangible goals; so, it is broadly defined. |
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