Quick Answer: What Are The 4 Areas Of Social Responsibility?

What is philanthropic social responsibility?

Philanthropic corporate social responsibility involves donating funds, goods, or services to another organization or cause.

For example, the local branch of a bank might donate money to fund the purchase of uniforms for a school sports team, or a health care company might donate to the city opera..

How many types of social responsibility are there?

Types of Corporate Social Responsibility. There are several different forms of corporate social responsibility, all of which address individual issues. However, the three main types of CSR are environmental, ethical, philanthropic.

What are the six main characteristics of CSR?

(2008) describe the six core characteristics of CSR as followed; (1) voluntary activities that go beyond those prescribed by law, (2) internalizing or managing externalities for example a reduction on pollution, (3) multiple stakeholder orientation and not only focusing on shareholders, (4) alignment of social and …

What are the 3 elements of social responsibility?

The four components of social responsibility are ethical, legal, economic and philanthropic.

What are the social responsibilities of a student?

Keeping the school or college building and surrounding neighborhood clean, picking up the litter and putting it in the trash can, can be your one step as a socially responsible citizen. You can also keep a check on reducing energy and water consumption.

What is CSR advantages and disadvantages?

A CSR policy improves company profitability and value. The introduction of energy efficiencies and waste recycling cuts operational costs and benefits the environment. CSR also increases company accountability and its transparency with investment analysts and the media, shareholders and local communities.

What you mean by social responsibility?

Social responsibility means that individuals and companies have a duty to act in the best interests of their environment and society as a whole. … The crux of this theory is to enact policies that promote an ethical balance between the dual mandates of striving for profitability and benefiting society as a whole.

What are the three concepts of social responsibility?

there are three concepts of social responsibility: (1) profit responsibility, (2) stakeholder responsibility, and (3) societal responsibility. holds that companies have a simple duty: to maximize profits for their owners or stockholders.

What are the levels of responsibility?

The 4 Levels of ResponsibilityLevel 1: Transferring Responsibility (no growth)Level 2: Acknowledging Responsibility (no growth)Level 3: Accepting Responsibility (growth happens)Level 4: Mastering Responsibility (no growth)

What is CSR in ethics?

Corporate Social Responsibility is the current terminology for defining the role of business in the well-being of society. Often this is referred to as the “tripple bottom line” – People, Planet and Profit.

What are the major areas of social responsibility with which businesses should be concerned?

The major areas of concern are the responsibilities toward the environment (controlling air pollution, water pollution and land pollution), its customers (advertising, price management and consumer rights), its employees (recruiting, hiring, training and compensating) and its investors (financial management and inside …

What are the main benefits of social responsibility?

The potential benefits of CSR to companies include:better brand recognition.positive business reputation.increased sales and customer loyalty.operational costs savings.better financial performance.greater ability to attract talent and retain staff.organisational growth.easier access to capital.

Legal Responsibility Legal responsibilities are not only liable to the individuals in the society but also to the businesses in the society. … These rules and regulations are set for maintaining balance and the greater good of the society. A law-abiding enterprise is a socially responsible enterprise as well.

What is the lowest level of social responsibility?

Understanding the Four Levels of CSRCarroll’s pyramid suggests that corporate has to fulfil responsibility at four levels – Economic, Legal, Ethical and Philanthropic. … The lowest level of the pyramid represents a business’s first responsibility, which is to be profitable. … The second level of the pyramid is the business’s legal obligation to obey the law.More items…•

What is CSR class 11?

Social responsibility is the obligation of businessmen towards the society. … According to Peter F Druker, “Social responsibility requires managers to consider whether their action is likely to promote the public good, to advance the basic beliefs of our society, to contribute to its stability, strength and harmony.”

What is Amazon’s corporate social responsibility?

Amazon maintains a corporate social responsibility program for communities. These stakeholders are significant because they influence consumer perception on the company’s goods and services. The interests of communities include development support, such as through education, healthcare and environmental conservation.

What are the 4 types of social responsibility?

The four types of Corporate Social Responsibility are philanthropy, environment conservation, diversity and labor practices, and volunteerism.

What are the areas of social responsibility?

ISO 26000-2010: Guidance on Social Responsibility identifies seven core social responsibility subjects:Organizational governance.Human rights.Labor practices.Environment.Fair operating practices.Consumer issues.Community involvement and development.