Ethics, Corporate Social Responsibility and ESG
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Ethics in Banking — Ethics in Banking.
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In Carroll's CSR pyramid, which layer forms the foundation on which all other corporate responsibilities are built?
Economic responsibility forms the foundation of Carroll's CSR pyramid, upon which legal, ethical, and discretionary responsibilities rest.
What is the minimum CSR spending required as a percentage of average net profit under Section 135 of the Companies Act, 2013?
At least 2% of average net profit of preceding three years.
According to Carroll's CSR pyramid, what is the topmost and most voluntary layer of corporate responsibility?
Philanthropic or discretionary responsibility is the topmost layer, representing voluntary contributions to society beyond what is legally or ethically required.
Under Section 135, which three thresholds determine if a company must constitute a CSR Committee?
Net worth ≥₹500 crore, turnover ≥₹1,000 crore, or net profit ≥₹5 crore.
Which layer of Carroll's CSR pyramid requires businesses to operate within the laws and regulations set by society?
Legal responsibility is the second layer of the pyramid, obligating businesses to comply with laws and regulations established by society.
What is the second layer in Carroll's CSR pyramid, placed directly above economic responsibility?
Legal responsibility — operating within laws and regulations.
What does the ethical responsibility layer of Carroll's CSR pyramid demand of corporations beyond mere legal compliance?
Ethical responsibility demands that corporations act fairly, justly, and avoid harm, going beyond what is merely required by law.
Which concept describes the paradigm shift from shareholder-centric philosophy to a focus on all stakeholders in the ESG framework?
Stakeholder capitalism or the multi-stakeholder approach.
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