Explain corporate social responsibility and sustainability.
What will be an ideal response?
Corporate social responsibility (CSR) can be defined as the actions of a firm to benefit society beyond the requirements of the law and the direct interests of the firm. Pressure for greater attention to CSR has emanated from a range of stakeholders, including civil society (the broad societal interests in a given region or country) and from nongovernmental organizations (NGOs). These groups have urged MNCs to be more responsive to the range of social needs in developing countries, including concerns about working conditions in factories or service centers and the environmental impacts of their activities. Sustainability can be defined as development that meets humanity's needs without harming future generations. In the boardroom, the term may first be associated with financial investments or the hope of steadily increasing profits, but for a growing number of companies, this term means the same to them as it does to an environmental conservationist.
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Indicate whether the statement is true or false
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a. True b. False Indicate whether the statement is true or false