List – I List – II a. Value added Model i. It is based on the process audit thereby evaluating the corporate social performance. b. Bauer-Fenn Model ii. It takes into account the social benefits and costs. c. ABT Model iii. It reflects the impact of a business enterprise on its employees, the local community and the public at large. d. ESTs Model iv. It shows the value added by the value of production of socially desirable outputs minus the value of socially undesirable effects.
Matching Business Social Performance Models
This question requires matching specific business social performance models from List-I with their corresponding descriptions in List-II.
Matching Strategy
We will analyze each model in List-I and identify its corresponding description from List-II based on the fundamental principles of each model.
Matching Analysis
- a. Value Added Model corresponds to iv. This model measures the value created by a business, specifically focusing on the production of socially desirable outputs minus the value of socially undesirable effects.
- b. Bauer-Fenn Model corresponds to i. This model is associated with evaluating corporate social performance, often through methods like process audits.
- c. ABT Model corresponds to iii. This model emphasizes the overall impact a business enterprise has on its various stakeholders, including employees, the local community, and the wider public.
- d. ESTs Model corresponds to ii. This model considers both the positive social benefits and the negative social costs stemming from business operations.
Based on this analysis, the correct matching is a - iv, b - i, c - iii, d - ii.
Important Questions from Corporate Social Responsibility (CSR)
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
- Match the items of List – I with List – II with regard to models of Corporate Social Responsibility.
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 : - Gandhian concept of social responsibility is denoted by which one of the following ?
- Which companies qualify for CSR under Companies Act, 2013 ?
(A) Net worth of ₹ 500 crore or more
(B) Turnover of ₹ 1,000 crore or less
(C) Turnover of ₹ 1,000 crore or more
(D) Net profit of ₹ 5 crore or more
Choose the correct answer from the options given below : - Which of the following functions are performed by CSR committee as mentioned in Companies Act, 2013 ?
(A) Formulate and recommend the CSR policy to the Board.
(B) Conduct evaluation and impact assessment of CSR project.
(C) Recommend the amount of expenditure to be incurred on CSR activities.
(D) Monitor the CSR policy of the company from time to time.
(E) Formulate and recommend to the Board an action plan in pursuance of its CSR policy.
Choose the correct answer from the options given below :
