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A wealthy CEO said that it is unfair to place CSR responsibilities on companies because the government should be accountable for attending to these issues - NSC Accounting - Question 4 - 2022 - Paper 1
Question 4
A wealthy CEO said that it is unfair to place CSR responsibilities on companies because the government should be accountable for attending to these issues. Explain ... show full transcript
Worked Solution & Example Answer:A wealthy CEO said that it is unfair to place CSR responsibilities on companies because the government should be accountable for attending to these issues - NSC Accounting - Question 4 - 2022 - Paper 1
Step 1
Explain how you would respond to the CEO's statement. State TWO points.
Answer
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The company depends on the community for its success; therefore, it has a vested interest in contributing positively to that community. By doing so, the company not only enhances its reputation but also secures its own future profitability.
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The company should take responsibility for its actions rather than relying on the government. This may involve collaboration with the government to address common goals of promoting social welfare, thereby fostering a healthy relationship that benefits both the company and society.