To determine: The evolution of corporate social responsibility (CSR) since 21st century.
Introduction:
Corporate Social Responsibility (CSR) is an approach which shows the influence of business operations on public, environment and economy. It is the responsibility which a company is liable to perform in return of using various resources from the society.
Answer to Problem 1CY
Since 21st century corporate social responsibility (CSR) has grown very wide as company is focusing more on charitable foundations, working with non-profit groups and organizations, sales and production practices.
Explanation of Solution
Since 21st century corporate social responsibility has evolved in many ways that are mentioned below:
- Company is focused on establishing charitable foundations which will be helpful in providing facilities to the people in need.
- Company shows their support by associating as well as supporting nonprofit groups or organizations.
- Company is being responsible by following marketing, selling and production process in a proper manner without harming to the society.
- Company is using resources from the society; in return it provides a better environment as well as employment opportunities to the society.
Thus, company evolves in corporate social responsibility by taking active part in establishing charitable foundations and supporting nonprofit groups for the welfare of the society.
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