What does explicit CSR refer to?

What does explicit CSR refer to?

• A. Mandatory compliance with government regulations
• B. Voluntarily assuming responsibilities of societal concerns
• C. Providing financial donations to charities
• D. Reducing production costs

Answer: (B)

Explicit CSR, or Corporate Social Responsibility, refers to the voluntary actions taken by a company to address social, environmental, and economic concerns that are not mandated by law. This approach goes beyond mere compliance with legal obligations and involves actively engaging in practices that benefit society. By choosing to assume responsibilities for societal concerns, companies can enhance their reputation, build customer loyalty, and contribute positively to the community and the environment. This concept encompasses a wide range of initiatives, such as sustainable business practices, ethical labor policies, and community engagement efforts. It reflects a company's commitment to being a good corporate citizen and recognizing the impact of its operations on various stakeholders, including employees, customers, suppliers, and the broader community. While compliance with government regulations and financial donations can be components of a company's overall CSR strategy, explicit CSR specifically highlights the proactive and voluntary nature of these responsibilities, distinguishing it from mere compliance or cost-reduction tactics.

Explicit CSR, or Corporate Social Responsibility, refers to the voluntary actions taken by a company to address social, environmental, and economic concerns that are not mandated by law. This approach goes beyond mere compliance with legal obligations and involves actively engaging in practices that benefit society. By choosing to assume responsibilities for societal concerns, companies can enhance their reputation, build customer loyalty, and contribute positively to the community and the environment.

This concept encompasses a wide range of initiatives, such as sustainable business practices, ethical labor policies, and community engagement efforts. It reflects a company's commitment to being a good corporate citizen and recognizing the impact of its operations on various stakeholders, including employees, customers, suppliers, and the broader community.

While compliance with government regulations and financial donations can be components of a company's overall CSR strategy, explicit CSR specifically highlights the proactive and voluntary nature of these responsibilities, distinguishing it from mere compliance or cost-reduction tactics.