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Question
Explain the following term/concept.
Corporate Social Responsibility
Solution
The United Nations Industrial Development Organization (UNIDO) claims. A management concept known as "corporate social responsibility" refers to how businesses incorporate social and environmental issues into their operations and dealings with stakeholders.
Corporate Social Responsibility (CSR) refers to a self-regulating business model that aims to contribute to societal goals or support volunteering or ethically-oriented practices. It makes a company socially responsible and accountable towards itself, its stakeholders, and the public in general.
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RELATED QUESTIONS
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Auto Parts Ltd. is renowned company situated in Chakradharpur, Jharkhand. This company is leading manufacturer of auto parts and also exports to some countries around the world. This company has net worth of Rs.600 Cr. and earned average net profit of Rs.1.20 Cr in last 3 financial years. The company has formed committee of directors to look after the CSR activities of the company.
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Explain corporate social responsibility.
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State the scope of CSR.
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