Corporate Social Responsibility Overview

Corporate social responsibility (CSR) involves businesses using ethical objectives to commit to behaving in a socially responsible way towards their internal and external stakeholders.

What is the primary purpose of CSR?

Which of the following are potential benefits of a business pursuing CSR?

What is one of the key ways the Internet and social media influence CSR?

What is the slogan of Ocean52, a company that focuses on reducing plastic pollution?

What is the name of the campaign launched by IKEA Australia and Save the Children to raise awareness about homelessness caused by domestic violence?

What type of products does Bombas sell, and what is its charitable initiative called?

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CSR involves positive societal impacts through business decisions and actions.
It's about a company's ethical duties to its stakeholders, community, and environment.
CSR extends beyond shareholders and includes all internal and external stakeholders.
Businesses understand the importance of ethical objectives as part of CSR to build a positive image.
Positive CSR can boost customer loyalty and employee morale, improving retention and productivity.
Ethics and transparency are necessary; companies may face public backlash for unethical practices.
A strong CSR approach can provide long-term competitive advantages.

Case Studies of CSR

Ocean52: Donates 52% of profits to ocean protection. Aims to reduce plastic use and raise awareness. Has prevented 3 million plastic bottles from entering oceans since 2018. Also engages in educational programs and beach clean-ups.
IKEA and Save the Children: Launched a campaign addressing homelessness from domestic violence. Showcased real-life scenarios like tents and cars as temporary homes in-store to create awareness. Aims to provide financial aid, housing, and furnishings to survivors.
Bombas Giving: A charitable arm of a sock, underwear, and T-shirt company. Donates an item for every item sold to support homeless individuals. Provides items designed for need like socks with antimicrobial and reinforced seams. Shows how philanthropy can strengthen a company’s brand and social impact.

Quotes on Honesty and Success

"Honesty is the cornerstone of all success.” - Mary Kay Ash
"You may not always see the results of your kindness, but every bit of positive energy you contribute to the world makes it a better place for us all." - Lisa Currie

This quiz covers the concept of Corporate Social Responsibility (CSR) and its societal impacts. It highlights the importance of ethical business practices, stakeholder engagement, and case studies such as Ocean52 and IKEA's initiatives. Understanding CSR can enhance a company's reputation and foster customer loyalty.