Corporate Social Responsibility Quiz

Main Goal of Corporate Social Responsibility (CSR)

• Promote ethical behavior and accountability in business practices.
• Enhance positive social, economic, and environmental impacts on communities.
• Foster long-term sustainability and stakeholder trust.

Activities Associated with CSR

• Implementing environmentally sustainable practices, such as reducing carbon footprints.
• Engaging in philanthropy through donations and community service programs.
• Supporting fair labor practices and employee welfare initiatives.
• Encouraging diversity and inclusion in the workplace.
• Developing transparent communication channels with stakeholders.

Standards and Laws Developed to Promote CSR

• International guidelines such as the UN Global Compact, which encourages businesses to adopt sustainable and socially responsible policies.
• The ISO 26000 standard offering guidance on social responsibility for organizations.
• Various national regulations focused on corporate disclosures related to social and environmental impacts.

Evolution of CSR Over Time

• Emerged in the 1950s as a response to increasing corporate influence on society.
• Gained traction in the 1970s with heightened awareness of social and environmental issues.
• Expanded in the 1990s with formal frameworks and voluntary guidelines for businesses.
• Currently, CSR is integrated into core business strategies and stakeholder expectations.

Difference Between CSR and Environmental, Social, Governance (ESG)

• CSR focuses on a company’s initiatives and responsibilities toward society.
• ESG refers to specific criteria used to evaluate a company’s performance in those areas.
• CSR is often seen as voluntary, while ESG incorporates measurable metrics that can affect investment decisions.
• ESG provides a framework for assessing risks and opportunities related to sustainability and ethical practices in business.

Test your knowledge of Corporate Social Responsibility (CSR) with this quiz! Explore the principles, practices, and impact of CSR, including philanthropy, community development, and professional service volunteering. Assess your understanding of how businesses contribute to societal goals through CSR initiatives.