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Dennis Greeves is the manager of a highly successful, Melbourne-based burger chain - VCE - SSCE Business Management - Question 5 - 2019 - Paper 1
Question 5
Dennis Greeves is the manager of a highly successful, Melbourne-based burger chain. In response to a decline in sales and a change in customer tastes, Dennis has mad... show full transcript
Worked Solution & Example Answer:Dennis Greeves is the manager of a highly successful, Melbourne-based burger chain - VCE - SSCE Business Management - Question 5 - 2019 - Paper 1
Step 1
Define the term ‘corporate social responsibility’
Answer
Corporate social responsibility (CSR) refers to the concept wherein businesses integrate social and environmental concerns in their operations and interactions with stakeholders. It goes beyond compliance with legal requirements and involves the commitment to contribute positively to society while maintaining a sustainable business model.
CSR can manifest in various forms, such as ethical sourcing of materials, engaging in environmentally friendly practices, and participating in community development initiatives. By adopting CSR practices, companies can enhance their reputation, build customer loyalty, and create a more sustainable future.