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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
In response to the CEO's statement, I would emphasize the following points:
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Community Impact: The company depends on the community for its success and prosperity. The well-being of employees and the community directly influence the profits of the company. Therefore, the company should actively engage in CSR initiatives to foster a supportive environment that benefits both the business and its community.
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Shared Responsibility: While it is true that the government plays a crucial role in societal welfare, businesses also have a responsibility to contribute positively. The company should not solely rely on government interventions but instead work in collaboration with government entities and other organizations to address social issues. This partnership can help create a common goal of improving community and employee welfare.