List – I (Proponent) List – II (Emphasis and Models) (a) Mahatma Gandhi (i) Voluntary commitment by companies to public welfare. (Ethical Model) (b) Jawaharlal Nehru (ii) State ownership and legal requirements determine corporate responsibilities. (Statist Model) (c) Milton Friedmen (iii) Corporate responsibilities limited private owners. (Liberal Model) (d) Edward Freeman (iv) Companies respond to the needs of stakeholders. (Stakeholder Model)
Codes :
Matching Corporate Social Responsibility Models
This question requires matching prominent figures in business ethics and economics with their respective models or emphasis regarding Corporate Social Responsibility (CSR).
CSR Proponents and Their Models
| List – I (Proponent) | List – II (Emphasis and Models) |
|---|---|
| (a) Mahatma Gandhi | (i) Voluntary commitment by companies to public welfare. (Ethical Model) |
| (b) Jawaharlal Nehru | (ii) State ownership and legal requirements determine corporate responsibilities. (Statist Model) |
| (c) Milton Friedman | (iii) Corporate responsibilities limited to private owners. (Liberal Model) |
| (d) Edward Freeman | (iv) Companies respond to the needs of stakeholders. (Stakeholder Model) |
Explanation of Matches
- Mahatma Gandhi advocated for businesses to act ethically and voluntarily contribute to societal well-being, aligning with the Ethical Model.
- Jawaharlal Nehru's perspective favoured state control and legal frameworks to guide corporate actions, reflecting the Statist Model.
- Milton Friedman famously argued that a company's primary responsibility is to its shareholders (private owners) by maximizing profits, fitting the Liberal Model description where responsibilities are limited to owners.
- Edward Freeman is known for the Stakeholder Model, emphasizing that businesses must consider and respond to the needs of all stakeholders, not just shareholders.
Final Matching Code
Based on the analysis, the correct matching of codes is:
(a)-(i), (b)-(ii), (c)-(iii), (d)-(iv)
Important Questions from Corporate Social Responsibility (CSR)
On which of the following principles is Andrew Carnegie's view on Corporate Social Responsibility, as reflected in his book, 'The Gospel of Wealth' based?
(a) Peter Principle
(b) Scaler Principle
(c) Charity Principle
(d) Steward Principle
Choose the correct option from the following:
Which of the following are part of Corporate Social Responsibility (CSR) to consumers?
a) Reasonable chances and the proper system for accomplishment and promotion
b) To supply goods at reasonable prices even when there is sellers market
c) Improving the efficiency of the business operation
d) To provide an opportunity for being heard and redress genuine grievances
Choose the correct answer from the options given below
As per Carroll Model, the four levels of Corporate Social Responsibility are :
What is the minimum prescribed net profit threshold for Companies to be required to undertake Corporate Social Responsibility activities under clause 135 of the Companies Act, 2013?
What is the 'Triple Bottom Line Approach' in CSR as mentioned in the passage?
