Explain Corporate Social Responsibility and Why So Many Companies Are

question 9

Essay

Explain corporate social responsibility and why so many companies are embracing it. Give some examples of ways companies are good corporate citizens.

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Definitions:

Corrective Action

Measures taken to identify, eliminate, and prevent recurrence of defects or problems in a product, process, or system.

Variance Analysis

A technique used to identify and explain the reasons for differences between budgeted and actual financial performance.

Standard Costs

Predetermined costs assigned to goods and services, used as target prices to measure performance.

Actual Costs

The genuine costs incurred in the production of goods or services, including all direct labor, materials, and overhead expenses.