Corporate Social Responsibility for Businesses: A Broader Perspective

The video discusses corporate social responsibility (CSR) and how businesses can adopt a broader perspective beyond profit-making. It highlights the importance of considering external factors like customer satisfaction, environmental impact, and employee welfare. The video examines Tesco's CSR initiatives and the benefits and risks of CSR, including trust and profitability issues. It also explores CSR challenges in the banking sector and efforts in other industries like food manufacturing. The transition from a shareholder to a stakeholder concept is discussed, along with Carroll's CSR pyramid, which outlines business responsibilities.

What is the primary focus of businesses in the private sector?

• Profit generation

• Employee well-being

• Customer satisfaction

• Environmental sustainability

Which of the following is NOT one of Tesco's CSR initiatives?

• Increasing short-term profits

• Reducing environmental impact

• Greater trading responsibility

• Supporting the local community

How can CSR initiatives serve as a unique selling point for businesses?

• By building customer trust

• By increasing short-term profits

• By limiting product variety

• By reducing employee wages

What is a potential risk of adopting a broader CSR perspective?

• Increased short-term profits

• Higher customer turnover

• Reduced short-term profitability

• Decreased employee motivation

Which industry faced a scandal that affected its reputation despite low customer turnover?

• Food manufacturing

• Banking

• Retail

• Automotive

What concept emphasizes considering the interests of all parties involved in a business?

• Shareholder concept

• Market expansion

• Stakeholder concept

• Profit maximization

What is the main goal of businesses according to the shareholder concept?

• Maximizing stakeholder satisfaction

• Enhancing employee well-being

• Minimizing environmental impact

• Maximizing shareholder returns

What is the first priority in Archie Carroll's CSR pyramid?

• Profit generation

• Legal responsibilities

• Ethical responsibilities

• Philanthropic responsibilities

What is a critique of Carroll's CSR pyramid?

• It is too complex

• It oversimplifies business responsibilities

• It ignores profit generation

• It focuses too much on legal issues

Which responsibility is at the top of Carroll's CSR pyramid?

• Economic responsibilities

• Legal responsibilities

• Ethical responsibilities

• Philanthropic responsibilities