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Define Corporate Social Responsibility (CSR), and describe why it is important for corporate profitability. In addition describe the elements of the CSR approach called the Triple Bottom Line (TBL).
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Cost Accounting: A Managerial Emphasis, Canadian Edition

Edition: 7th
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A year ago
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a.    Defined - Corporate social responsibility (CSR) is the voluntary integration of social and environmental concerns into business decisions.
b.   It is important because the actions of business need to be in-line with stakeholder values. For example, many multinational corporations refuse to do business with suppliers who endanger their workers or families. Consumers are increasingly unwilling to purchase products from companies that act in ways that are seen to negatively impact society and the environment.
c.   The triple bottom line consists of strategic goals concerning economic prosperity, environmental sustainability, and social equity (profit, planet, people).
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