Massachusetts based Staples Inc. is one the largest and most complete suppliers
ID: 1127625 • Letter: M
Question
Massachusetts based Staples Inc. is one the largest and most complete suppliers of home and business office supplies in the world. The company started from a single store in Brighton and now employees more than 70,000 people in more more than 1,700 stores around the world. The company generates revenues in excess of 17 billion. The following details from one of the companies past yearly Corporate Social Responsibility goals. • Describe why the firm might engage in such practices, identifying at least three potential benefits that the firm might realize from this strategy. • Identify potential risks of the CSR practices. • Make recommendations for how to minimize the risks while maximizing benefits.
Explanation / Answer
Answer : In simple words, Corporate social responsiability means companies have some works towards the welfare of the society. The rising of the modern corporate with the society resources. It is time to contribute towards the society welfare. As large companies like Staple Inc. is earning billions and have huge resources. So they want to maintian good and overall relationship with the stakeholders in the business.
Three Benefits that are related with CSR are :
Answer : Potential risk associated with CSR are :
Answer : We should minimised CSR responsiability in systematic and logical manner so that it cannot harm society work or system in the long run scanerio