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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
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The company depends on the community for its success; therefore, it is part of a community that supports it. The well-being of its employees will have an effect on the profits of the company through which the CEO is remunerated.
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The company should focus on its responsibility and growth rather than relying solely on government or other institutions. By collaborating with the government, companies can help address common goals of uplifting the community.