Quick Summary
Diagram
Important Table
| Point | Meaning | Example / Use |
|---|---|---|
| Economic Responsibility | Earn profit responsibly | Sustainable business |
| Legal Responsibility | Follow laws | Compliance |
| Ethical Responsibility | Do what is right | Fair practices |
| Philanthropic Responsibility | Voluntary contribution | Community development |
Best 10 Marks Answer
Corporate Social Responsibility in Global Business is an important topic in International Business Environment. It helps managers understand how global economic, political, legal, cultural and technological forces affect business decisions.
Corporate Social Responsibility in global business means that firms should operate responsibly towards society, environment, employees, consumers and communities across countries.
In international business, this concept is useful because firms operate across countries where markets, laws, currencies, cultures and competition are different. A business must analyse these factors before entering a foreign market or expanding globally.
For example, a company planning to sell products in another country must study customer culture, exchange rate, trade barriers, legal rules, political stability and local competition.
Conclusion: Therefore, Corporate Social Responsibility in Global Business helps businesses reduce risk, identify opportunities and make better global business decisions.
Tips and Tricks to Remember
- ✅ Use Carroll’s CSR pyramid if needed.
- ✅ Mention environment and labour.
- ✅ CSR improves reputation.
Practice MCQs after reading
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