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DPR3706 Assignment_1__DETAILED ANSWER Semester 1
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DPR3706 Assignment 1 (DETAILED ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED
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DPR3706 Assignment 1(DETAILED ANSWERS)
Semester 1 2024 -
DISTINCTION
GUARANTEED -
DISTINCTION
GUARANTEED.
written by mariana francis
GUARA/
, QUESTION 1 With suitable examples, explain the following concepts related
to corporate social responsibility (CSR). a) Philanthropy (3) b) Sustainability
(3) c) Created shared value (2) d) Corporate citizenship (2) [10]
a) Philanthropy: Philanthropy in the context of corporate social
responsibility (CSR) refers to the practice of companies contributing financial
resources, donations, or support to charitable causes and community
development projects. It involves giving back to society and addressing
social issues through financial contributions. For example, a company might
donate a percentage of its profits to a local charity, sponsor educational
programs, or contribute to disaster relief efforts.
Example: The Coca-Cola Company has a philanthropic arm called the Coca-
Cola Foundation, which supports various initiatives such as clean water
projects, education programs, and community development efforts
worldwide.
b) Sustainability: Sustainability in CSR involves integrating environmental,
social, and economic considerations into a company's business practices to
ensure long-term success while minimizing negative impacts on the
environment and society. It goes beyond short-term profit goals and focuses
on responsible resource use, environmental conservation, and social
responsibility. An example is a company adopting eco-friendly production
processes, reducing carbon emissions, or using sustainable sourcing of raw
materials.
Example: Unilever, through its Sustainable Living Plan, aims to reduce its
environmental footprint, improve health and well-being, and enhance
livelihoods. They commit to sourcing 100% of agricultural raw materials
sustainably.
c) Creating Shared Value (CSV): Creating shared value involves aligning a
company's business activities with societal needs and challenges, creating
mutual benefits for both the company and society. It goes beyond traditional
philanthropy by integrating social and environmental considerations into the
core business strategy. An example would be a company addressing a
societal issue through its products or services, creating value for both the
company and the community.
Example: Nestlé focuses on creating shared value by addressing nutritional
challenges. Their efforts include fortifying products with essential nutrients to
tackle malnutrition, benefiting both the company's market position and
public health.
GUARA/
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