Exploring Corporate Social Responsibility and Its Impact

The video introduces Corporate Social Responsibility (CSR), emphasizing its importance in modern business. It explores CSR theories, including the free-market view and social responsibility perspective. Arguments for and against CSR are discussed, highlighting its impact on business reputation and employee motivation. Examples from companies like IKEA and Unilever illustrate CSR in practice. The video concludes with challenges and questions about CSR's role in business.

What does CSR stand for?

• Customer Service Requirement

• Customer Support Role

• Corporate Social Requirement

• Corporate Social Responsibility

According to the video, why has CSR become a significant corporate objective?

• To reduce employee turnover

• To increase executive bonuses

• Because of increased stakeholder pressure

• Due to legal requirements

What is the primary debate around CSR as discussed in the video?

• The role of CSR in international business

• If CSR should be mandatory for all businesses

• The cost implications of CSR for small businesses

• Whether businesses should focus only on profits

Who is associated with the free-market view of CSR?

• Raymond

• Milton Friedman

• Paul Polman

• Kotter

Which of the following is a stakeholder view opposed to Milton Friedman's perspective?

• Profit maximization theory

• Free-market view

• Shareholder value theory

• Social responsibility view

What is a key benefit of CSR mentioned in the video?

• Enhancement of business reputation

• Increase in short-term profits

• Reduction in taxes

• Decrease in government regulation

Which company is noted for making CSR a core part of their business model?

• Google

• IKEA

• Amazon

• Apple

What does the 'Plan A' initiative by Marks and Spencer focus on?

• Expanding to new markets

• Becoming the most sustainable retailer

• Cutting operational costs

• Improving employee benefits

How does CSR potentially affect a company's operating costs according to the video?

• Increases due to higher employee salaries

• No impact on costs

• Decreases due to sustainable practices

• Increases due to more regulations

What role does CSR play in business ethics?

• It is unrelated to business ethics

• It is a foundational aspect

• It opposes the principles of business ethics

• It is occasionally considered in business ethics