Answered! CORPORATE GOVERNANCE AND ETHICS 1. Discuss a range of issues relating to the Pyramid of CSR and its levels and the tensions between these….

Economic :It is the responsibility of a business to be profitable. It directly impact their sustainabilty and benefit in the society in along-run.

Legal: Business should comply with the rules and regulations and obey laws.It includes health and safety, fair competition and employement.

Ethical: The business should be conducted in an ethical and moral way.They should treat their employees and suppliers with respect and dignity. Integrity in a business is a top priority.

Philanthropic:It is the responsibility to give back to the society.It is equally important to give back to the society which has enabled the business to grow. It can be in any form such as charitable donations, supporting eco-friendly alternatives etc.

2.CSR needs to focus on whole of the pyramid as failing which the entire system of co-existance between the corporate and envirnment will fall. All the responsibilties described in the pyramid are equally important for survival and not one of them can be ignored.A corporate sector is always running in a competitive envirnment.If one company is not abiding by the responsibilities in the CSR pyramid then it is likely to be overthrown by its competition.

3.CSR or Corporate Social Responsibility is a broad tern used to describe a company’s effort to give back to the society. It is critical because it is one of the parameters that determines the survival possibility of a company. It leads to sustainabilty as it integrates the needs of the social and economic concerns in their business operations and hence, as the company grows, it contributes toward the welfare of the society with it.