CSR Quiz - Wirtschaftssprache II

CSR stands for Corporate Social Responsibility, which refers to a company's efforts to contribute to sustainable development by considering the social, economic, and environmental impacts of its actions. Therefore, the statement "CSR is a company's contribution to sustainability" is true.

All of the mentioned stakeholders are interested in CSR. Customers and communities are interested in CSR because they expect businesses to be socially responsible and contribute positively to society. Investors and special interest groups are interested in CSR because they want to invest in companies that align with their values and have a positive impact on the environment and society. Employees are interested in CSR because they want to work for companies that prioritize ethical practices and social responsibility. Suppliers are interested in CSR because they want to partner with companies that have sustainable and responsible business practices.

CSR, or Corporate Social Responsibility, addresses concerns related to the social and environmental impact of a company's operations. It involves taking responsibility for the company's actions and ensuring that they contribute positively to society and the environment. This includes addressing issues such as employee welfare, community development, environmental sustainability, and ethical business practices. By considering and addressing these concerns, companies can demonstrate their commitment to being socially and environmentally responsible.

CSR is a voluntary initiative because it is not mandated by law or regulations. Companies choose to engage in corporate social responsibility out of their own volition, as a way to contribute to society and improve their public image. By voluntarily taking on CSR initiatives, companies demonstrate their commitment to ethical practices and sustainability, going beyond their legal obligations.

The International Labour Organisation (ILO) is responsible for setting the standards for "Ethical Trading". The ILO is a specialized agency of the United Nations that aims to promote social justice and improve working conditions globally. It sets international labor standards and provides guidance on various labor-related issues, including ethical trading practices. The ILO works with governments, employers, and workers' organizations to develop and enforce these standards, ensuring fair and ethical practices in the global labor market.