Question

h.Based on reading the section on Focus On Managerial Implications, discuss how much CSR and sustainability are related and how much the concepts differ from each other.

Answer 1

Answer:

Explanation:

CSR refers to the commitment by a company to practice environmental and social sustainability so as to be good stewards of the environment in which they operate. They relate with sustainability because sustainability describes the ability to maintain various processes and systems overtime. Some companies invest in CSR so as to sustain the profitability of the company.

On the otherhand,  CSR differs from sustainability because sustainability is managed by operations and marketing whereas CSR investment is rewarded and mandated by the government.

Futhermore, Sustainability is forward by planning the changes a business might make so as to secure its future while Corporate social responsibility or CSR looks backwards by reporting on what a business has done in the last 12months.

Another difference between CSR and Sustainability is that CSR is about compliance while sustainability is about business.

Finally, CSR is driven by the need to enhance reputation in developed narkets while Sustainability is driven by the need to create opportunities in emerging markets.