Historical Phases of CSR

Play an AI-generated podcast conversation about this lesson

What is the primary focus of economic responsibility?

Making financial decisions that benefit society (correct)

Upholding human rights principles

Donating to charitable causes

Environmental sustainability

Which of the following is an example of environmental responsibility?

Prioritizing sustainable practices (correct)

Upholding human rights principles

Donating to charitable causes

Investing in education programs

What is the main goal of philanthropic responsibility?

To uphold human rights principles

To prioritize sustainable practices

To invest in alternative energy sources

To give back to society and support community development (correct)

What is ethical responsibility?

A company's commitment to operate in an ethical manner Signup and view all the answers

Why should a corporation perform its social responsibility?

To return a fair portion of its profit to the people Signup and view all the answers

What is the main purpose of corporate social responsibility?

To benefit society and give back to the community Signup and view all the answers

What aspect of social responsibility involves ensuring supply chains adhere to ethical standards?

Ethical Sourcing Signup and view all the answers

What is a key consideration for companies in terms of social responsibility towards the environment?

Reducing waste and minimizing carbon emissions Signup and view all the answers

Why is community engagement an important aspect of social responsibility?

To demonstrate social responsibility and contribute to the community Signup and view all the answers

What is meant by accessibility in the context of social responsibility?

Designing products that are accessible to all consumers Signup and view all the answers

What is a key benefit of social responsibility towards the community and the environment?

Minimizing negative impacts on the environment Signup and view all the answers

What is an example of a social responsibility initiative?

Sponsoring a community event Signup and view all the answers

During Profit Maximizing Management phase, what was the main focus of management's actions?

Maximizing profit Signup and view all the answers

What is a characteristic of Profit Maximizing Management phase regarding working conditions?

Ignoring unsafe working conditions Signup and view all the answers

In the Trusteeship Management phase, who was management considered to be a trustee for?

All groups contributing to the business Signup and view all the answers

What distinguished Quality of Life Management phase from previous phases regarding basic goods and services?

Security of basic goods no longer a principal problem Signup and view all the answers

Which phase expanded the concept of social responsibility due to social and economic problems?

Quality of Life Management Signup and view all the answers

What was a common practice during the Profit Maximizing Management phase to cut costs and boost profits?

Utilizing child labor and paying starvation wages Signup and view all the answers

What is expected of businesses regarding the improvement of the quality of life?

Prioritize the needs and interests of the whole society Signup and view all the answers

Which of the following views emphasizes balancing the interests of employees, customers, suppliers, and the local plant community?

Managerial View Signup and view all the answers

What is the primary responsibility of business, as per the Classical View?

Maximizing profits Signup and view all the answers

Which perspective emphasizes giving excess wealth to the less fortunate?

Christian View Signup and view all the answers

What does the Public View primarily focus on?

Needs and interest of the whole society Signup and view all the answers

Which perspective advocates for harmony between business operations and public interest?

Public View Signup and view all the answers

What is one strategy mentioned in the text to promote sustainability?

Using renewable or recyclable materials Signup and view all the answers

Which practice ensures that supply chains are adhering to ethical standards?

Promoting fair labor practices Signup and view all the answers

Why is transparency important for companies with regards to sustainability?

It fosters accountability Signup and view all the answers

What is a way in which companies can invest in the long-term prosperity of communities?

Supporting education and workforce development programs Signup and view all the answers

How do companies promote reparability of products?

Designing products with repairable components Signup and view all the answers

What is a key benefit of adhering to sustainable practices in the supply chain?

Preventing environmental degradation Signup and view all the answers