In the modern business environment, the concept of Corporate Social Responsibility (CSR) has become a significant aspect of corporate governance. This concept is grounded in a theoretical framework that emphasizes the importance of considering the interests and impacts on various parties associated with or affected by a company’s operations. Understanding the foundational theory behind CSR is essential for comprehending how and why companies integrate social, environmental, and ethical concerns into their business processes. The concept of Corporate Social Responsibility (CSR) is based on which of the following theory?
The concept of Corporate Social Responsibility (CSR) is based on the Stakeholder Theory. Edward Freeman defines a stakeholder in an organization as any group or individual who can affect or is affected by the achievement of the organization’s objectives. This includes, but is not limited to, shareholders, customers, employees, suppliers, the community, the environment, and society at large. The Stakeholder Theory underpins CSR by advocating that companies have a responsibility to consider the impacts of their decisions on all these groups, thus integrating social, environmental, and ethical concerns into their business processes beyond their legal obligations.
Which Indian long jumper successfully defended his title and won gold at the International Jumping Meeting in Greece?
What was the reason behind the RBI's imposition of a monetary penalty on Omkar Nagreeya Sahkari Bank Ltd . , Kanpur?
Which product was recently launched by SBI General Insurance to support infrastructure projects?
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How much penalty did the Reserve Bank of India impose on the Thane District Central Co - operative ( TDCC ) Bank?
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What will be the new capital of Andhra Pradesh?
Which Indian institution secured the 40th position in the QS Asia University Rankings 2024?
______ has launched an online Radio, a platform to provide bite-sized content that offers both entertainment and livelihood enhancement tools.
What was the primary focus of the Ganga Waters Treaty signed between India and Bangladesh in 1996?