ACTUAL
ADMIN
[COMPANY NAME]
, QUESTION 1 With suitable examples, explain the following concepts related
to corporate social responsibility (CSR). a) Philanthropy (3) b) Sustainability
(3) c) Created shared value (2) d) Corporate citizenship (2) [10]
a) Philanthropy: Philanthropy in the context of corporate social responsibility (CSR)
refers to the practice of companies contributing financial resources, donations, or
support to charitable causes and community development projects. It involves giving
back to society and addressing social issues through financial contributions. For
example, a company might donate a percentage of its profits to a local charity, sponsor
educational programs, or contribute to disaster relief efforts.
Example: The Coca-Cola Company has a philanthropic arm called the Coca-Cola
Foundation, which supports various initiatives such as clean water projects, education
programs, and community development efforts worldwide.
b) Sustainability: Sustainability in CSR involves integrating environmental, social, and
economic considerations into a company's business practices to ensure long-term
success while minimizing negative impacts on the environment and society. It goes
beyond short-term profit goals and focuses on responsible resource use, environmental
conservation, and social responsibility. An example is a company adopting eco-friendly
production processes, reducing carbon emissions, or using sustainable sourcing of raw
materials.
Example: Unilever, through its Sustainable Living Plan, aims to reduce its environmental
footprint, improve health and well-being, and enhance livelihoods. They commit to
sourcing 100% of agricultural raw materials sustainably.
c) Creating Shared Value (CSV): Creating shared value involves aligning a company's
business activities with societal needs and challenges, creating mutual benefits for both
the company and society. It goes beyond traditional philanthropy by integrating social
and environmental considerations into the core business strategy. An example would be
a company addressing a societal issue through its products or services, creating value
for both the company and the community.
Example: Nestlé focuses on creating shared value by addressing nutritional challenges.
Their efforts include fortifying products with essential nutrients to tackle malnutrition,
benefiting both the company's market position and public health.
d) Corporate Citizenship: Corporate citizenship refers to a company's commitment to
behaving ethically, contributing positively to the community, and fulfilling its role as a
ADMIN
[COMPANY NAME]
, QUESTION 1 With suitable examples, explain the following concepts related
to corporate social responsibility (CSR). a) Philanthropy (3) b) Sustainability
(3) c) Created shared value (2) d) Corporate citizenship (2) [10]
a) Philanthropy: Philanthropy in the context of corporate social responsibility (CSR)
refers to the practice of companies contributing financial resources, donations, or
support to charitable causes and community development projects. It involves giving
back to society and addressing social issues through financial contributions. For
example, a company might donate a percentage of its profits to a local charity, sponsor
educational programs, or contribute to disaster relief efforts.
Example: The Coca-Cola Company has a philanthropic arm called the Coca-Cola
Foundation, which supports various initiatives such as clean water projects, education
programs, and community development efforts worldwide.
b) Sustainability: Sustainability in CSR involves integrating environmental, social, and
economic considerations into a company's business practices to ensure long-term
success while minimizing negative impacts on the environment and society. It goes
beyond short-term profit goals and focuses on responsible resource use, environmental
conservation, and social responsibility. An example is a company adopting eco-friendly
production processes, reducing carbon emissions, or using sustainable sourcing of raw
materials.
Example: Unilever, through its Sustainable Living Plan, aims to reduce its environmental
footprint, improve health and well-being, and enhance livelihoods. They commit to
sourcing 100% of agricultural raw materials sustainably.
c) Creating Shared Value (CSV): Creating shared value involves aligning a company's
business activities with societal needs and challenges, creating mutual benefits for both
the company and society. It goes beyond traditional philanthropy by integrating social
and environmental considerations into the core business strategy. An example would be
a company addressing a societal issue through its products or services, creating value
for both the company and the community.
Example: Nestlé focuses on creating shared value by addressing nutritional challenges.
Their efforts include fortifying products with essential nutrients to tackle malnutrition,
benefiting both the company's market position and public health.
d) Corporate Citizenship: Corporate citizenship refers to a company's commitment to
behaving ethically, contributing positively to the community, and fulfilling its role as a
