Rachel initiated the practice of company visits as part of reaching out to her company’s loyal customers . She set up a campaign
that invited people to send in their experiences with her company’s product. Everyone who sent in their experiences would win a chance to visit the company and learn about the processes involved in the making of the product. Which CSR concept has Rachel displayed here? Rachel has displayed the _____ concept of CSR.
The corporate sector has a duty towards its very own business, investors as well as towards the society. Subsequently, every corporate unit must have a duty regarding the upliftment of society which is comprehensively considered as Corporate Social Responsibility (CSR).
The social duty of a business demonstrates standards and commitments by the corporate leadership to take proper activities which can ensure and improve the welfare of society alongside securing business interest.
Corporate social responsibility has been accepted more and more in the recent past. This is because the actions of the corporate sector most of the time cause negative effects to the society, therefor taking up this responsibility towards the society aims at giving back to the society while at the same time achieving their business goals.
The CSR can be divided two two main concepts; implicit and explicit Corporate social responsibility (CSR). Explicit CSR alludes to corporate rules and arrangements that accept and accountability in the interest of society. They regularly comprise of deliberate projects by companies to combine social and business worth and address issues viewed as being part of their social obligation. An example is a move by various corporations to provide relief aid to the victims of hurricane Katrina in 2005. On the other hand, implicit CSR refers to the role of corporations in the formal and informal institution for the benefit of the society. It usually comprises of qualities, standards and rules which bring about obligatory and standard prerequisites that need to be addressed by the organizations.
A major key difference between implicit and explicit CSR is that implicit CSR is usually thought of as a mandatory and involuntary exercise as a reaction to it's environment, while explicit CSR is often seen as a deliberate and voluntary exercise. In our case, Rachel displayed the explicit concept of CSR since the intent was deliberate and voluntary towards the benefit of the society while at the same time improving the image of the company in the mind of the loyal customers.
Below are the possible return options, and investment options given the schedule and period of investment.
REFER TO ATTACHED FILE FOR THE CHAT
According to this chart, Uncle can get maximum return only from option C. So he should invest everything there, however he needs to pay off 24,000 loan at the end of Year 3. Therefore, he needs to invest an amount that will yield him 24000 at then end of year 3, in Plan B.
That can be calculated by 24000/1.36 = 17647
The balance amount can wait till the beginning of year 2, and then all the amount can be invested in Plan C.
The maximum return at the end of 5 years available will be:
Amount invested in Plan C = 90000 - 17647 (amount saved for the loan payment) = 72353
Return from Plan C at the end of 5yrs = 72353 x 1.66 = $ 12106
Direct labor variance is the effect of the differences between the wage rate or the number of hours worked in actual and the projected or expected. Shown below are the procedures to which the inputs to the equations were calculated.
Standard Rate = (2 direct labor hour) x ($15/hour) x (1800) = 54,000 Actual Direct Labor cost = $48,000
The variance is calculated by subtracting the actual cost from the standard rate. Variance = ($54,000) - ($48,000) Variance = $6,000
Therefore, the variance to the given data is $6,000.