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Corporate Social Responsibility

Using the information covered in Chapter 3 of your textbook, briefly define corporate social responsibility (CSR). Then, find a current activity in the past 1-2 years in which the company you selected from the approved company list went above and beyond to demonstrate CSR or where they may have sorely failed. In your post, provide details on the good or bad deed. Do your findings change or enhance the way you will support the company in the future?

Sample Answer

Brief definition of corporate social responsibility (CSR)

Corporate social responsibility (CSR) is the concept that businesses have a responsibility to operate in a way that benefits society as a whole. This includes not only making a profit, but also considering the social and environmental impacts of their business operations.

CSR can take many forms, such as:

Reducing environmental impact
Promoting ethical and responsible business practices
Giving back to the community
Supporting sustainable development

Example of a company going above and beyond to demonstrate CSR:

In 2022, Patagonia, an outdoor clothing and gear company, pledged to donate all of its profits to environmental causes. This was a significant commitment, as Patagonia made $1.8 billion in revenue in 2021.

Full Answer Section

Patagonia’s decision to donate its profits to environmental causes is a great example of CSR. The company is putting its values into action and using its business to make a positive impact on the world.

Example of a company failing to demonstrate CSR:

In 2021, Amazon was criticized for its poor working conditions in its warehouses. Employees reported being forced to work long hours in hot and dangerous conditions. Some employees even said that they were unable to take bathroom breaks.

Amazon’s failure to provide its employees with safe and humane working conditions is an example of poor CSR. The company is putting profits ahead of the well-being of its workers.

How my findings change or enhance the way I will support the company in the future:

My findings have made me more aware of the importance of CSR. I am now more likely to support companies that are committed to operating in a socially and environmentally responsible manner.

In the case of Patagonia, I am more likely to support the company in the future because of its commitment to environmental causes. I admire the company’s values and I believe that it is a good corporate citizen.

In the case of Amazon, I am less likely to support the company in the future because of its poor working conditions. I am concerned about the company’s treatment of its employees and I do not want to support a company that does not value its workers.

Overall, I believe that CSR is an important factor to consider when deciding which companies to support. I encourage everyone to do their research and learn more about the CSR practices of the companies they buy from.

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