Explain the Importance of Corporate Social Responsibility in an Organization

question 52

Essay

Explain the importance of corporate social responsibility in an organization.

Understand how norms, values, and sanctions function within a society.

Understand the concepts of norms including folkways, mores, taboos, and their roles in shaping behavior within societies.

Identify the concept and examples of negative sanctions and how they enforce societal norms.

Recognize the difference between ideal culture and real culture.

---

Definitions:

Productive Capabilities

The potential or capacity of a company or a piece of equipment to produce goods or services.

Double-declining-balance

The double-declining-balance method is a form of accelerated depreciation that doubles the normal depreciation rate, reducing the asset's value more quickly in the early years of its life.

Book Value

The book value of an asset is its original purchase cost minus any accumulated depreciation or amortization, reflecting its recorded value on a company's balance sheet.

Useful Life

The estimated period over which an asset is expected to be usable by a company for its intended purpose.