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Summary Business Studies Chapter 3
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i got a A for my finial November exams in grade 11 using these notes. has the whole of chapter three summarised
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Chapter 3CSR and Corporate Governance
Social Responsibility
1. Corporate social responsibility (Management's obligation to
protect and promote the welfare of all relating to
stakeholders1)
2. Corporate social investment (Represents the actual resources
that are invested in the stakeholders, like the form of money,
manpower, products and use of machinery or premises.
Management has traditionally argued that as long as they
create wealth for shareholders2, they have acted in a
responsible manner and anything else done to promote the
interest of the stakeholders is going beyond the call of duty)
1
Stakeholders (interest group)refer to any individual or group of people that have an interest in or
what gets affected by the business, like employees, customers, suppliers, government, local
community, competitors.
2
Shareholders referred to Owners of the business
, Triple bottom line reporting (Integrated Reporting)
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