Distinguish between the following.
Traditional social responsibility and corporate social responsibility.
Answer:
Basis of Difference
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Traditional Social Responsibility
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Corporate Social Responsibility
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Meaning
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Traditionally, traders and emperors used to help the poor and underprivileged with the profits they made.
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In modern times, business units commit to behave ethically and work towards the welfare of society.
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Scope
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Operates at an individual or micro level
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Operates at the macro level, i.e., whole economy
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Concept
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It has the philanthropic concept.
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It includes philanthropic, ethical, legal and economic concepts.
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Evolution
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It evolved in ancient India and the pre-Christian era.
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It evolved after the World War II.
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Type
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It includes tangible goals; so, it is narrowly defined.
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It includes both tangible and intangible goals; so, it is broadly defined.
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