Economic social responsibility: This is the main responsibility upon which other responsibility relies. Every economic activity in the organization should be profitable enough to provide good return on investment to investors or owners.
Legal social responsibility: All the social responsibility activities are expected to be fair and legal. Everyone is expected to obey the laws and regulations set as per the company’s standard.
Ethical social responsibility: This includes the standards and principles determined by the public, government regulators and stakeholders, consumers and organization.
Philanthropic social responsibility: this social responsibility is to promote goodwill or human welfare. For example, by being a good corporate citizen or contributing the resources to the community.
Sustainability'>QUESTION 3
a) Explain the term "sustainability" from a strategic business perspective. (40 marks) Sustainability means conducting personal and organizational activities in a way that allows for the long-term well-being of the natural environment, including all biological entities.
Sustainability involves the assessment and improvement of business strategies, economic sections, work practices, technologies, and lifestyles so that they maintain the health of the natural environment.
b) Discuss the two significant environmental issues - pollution and alternative energy facing the business and society today. (60 marks) Pollution Water pollution results from the dumping of contaminants into water resources and the burial of waste and contaminants in the ground, affecting underground water supplies.
Air pollution is the contamination of the air by smoke, manufacturing pollutants, carbon monoxide, and hydrocarbons emitted by motor vehicles.
Land pollution—which is tied directly to water pollution because many of the contaminants dumped on the land work their way into the water supply—results from the dumping of residential and industrial waste, strip mining, forest fires, and poor forest conservation.
