Advertisements
Advertisements
Question
What is corporate social responsibility?
Advertisements
Solution
Corporate Social Responsibility (CSR) is a self-regulating business model, aims to contribute to societal goals or support volunteering or ethically-oriented practices. It makes a company socially responsible and accountable. This accountability is towards itself, its stakeholders, the public in general, etc. By practicing social responsibility, companies can be conscious of the economic, social, and environmental aspects of society.
Applicability of CSR:
- The companies having a Net worth of 1500 Cr. or more or Turnover of 1000 Cr. or more; or Net
Profit of 15 Cr. or more during any financial year shall be required to constitute a Corporate
Social Responsibility Committee of the Board with effect from 1st April 2014. - The Board's report shall disclose the compositions of the CSR Committee.
- All companies shall spend, in every financial year, at least 2% of the average net profits of the company made during the three immediately preceding financial years, in pursuance of its
Corporate Social Responsibility Policy. - The companies shall be required to incorporate in its Board's report, an annual report on CSR.
APPEARS IN
RELATED QUESTIONS
Commercial organisations have different types of social responsibilities.
Business organisations have no social responsibilities.
Write a word or phrase or a term which can substitute the following.
Duties, obligations of business directed towards welfare to society.
Distinguish between the following.
Traditional social responsibility and corporate social responsibility.
Answer the following question.
What is social responsibility? Explain modern concept of social responsibility.
Choose the correct option for the following:
If business is to operate in a society which is full of diverse and complicated problems, it may have
What do you understand by social responsibility of business? How is it different from legal responsibility?
What are the major areas of social responsibility of business?
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | Employees | 1) | Good quality product |
| B) | Responsibility to Investors | 2) | To maintain solvency and prestige |
| C) | Responsibility towards government | 3) | To serve society |
| D) | Economic Objective | 4) | Voluntary |
| E) | Business ethics | 5) | Job security |
| 6) | Compulsory | ||
| 7) | Respecting rules and regulations | ||
| 8) | To earn profit | ||
|
9) |
Branch of Social Science |
||
| 10) | Protection and environment | ||
Give one word/phrase/term for the following sentence.
Name the philosophy related to social responsibility propounded by Mahatma Gandhi.
______ should be fixed according to the nature and importance of work.
What is the social responsibility of commercial organizations? towards consumers?
what is the need for social responsibility?
Select the correct option.
(responsibilities towards shareholders, responsibilities towards consumers, responsibilities towards government, responsibilities towards society, responsibilities towards owners)
| Group A | Group B |
| A. After Sales Service | _______________ |
| B. ______________ | timely payment of taxes |
| C. protest anti-social activities | _______________ |
| D. fair practices on stock exchange | _______________ |
| E. _____________ | Reasonable profit |
Choose the Correct Answer.
Which type of Responsibility gives the benefit to the Society out of its profits earned?
Choose the Correct Answer.
Social Responsibility towards employees represents the following except ______
Enumerate the points relating to why business units are Socially Responsible?
Explain in detail the concept and need for Social Responsibility?
