need help with this questions according to what you think 1

need help with this questions according to what you think.    1. What CSR is and the four components and be able to link these to behavior at Enron.

2. How ethics, CSR and the law relate to one another

3. How to define stakeholders, differentiate between secondary and primary. Give examples of each. Be able to link behavior of Enron traders or Tyco’s CEO or Dennis Kozlowski to this.

Solution

1. CSR is operating a business in a manner which meets or excels the ethical, legal, commercial and public expectations that a society has from the business. CSR means open an transparent business practices that are based on ethical values and respect for employees, communities and the environment.

2. the firm which is practicing ethical activities, it is said to be delivering its responsibility towards all stakeholders. in these conditions, there are no chances to violate the law or any legal regulations. the firm which is not practicing ethical aspects in its activities, it does not contribute anything to society and they breaches laws.

3. the people who contribute their serices to the firm directly or indireclty. they includes owners, employees, customers, suppliers, media, government, competitors and society.

the primary stakeholders are the people who contribute their services to the firm directly, includes owners to the business, employees and management. and the remaining parties comes under secondary stakeholders.