Question

What are the key stages of building a CSR plan?

A) Identifying CSR stakeholders, planning, and implementing initiatives.
B) Creating company logos, designing marketing materials, and launching CSR campaigns.
C) Setting financial targets, managing investments, and achieving revenue growth.
D) Conducting competitor analysis, setting up advertising campaigns, and hiring more employees.

Answer 1

The key stages of building a CSR plan are identifying CSR stakeholders, planning CSR initiatives, and implementing them effectively. This process ensures CSR goals are achievable and appropriate, involving careful planning and execution.

Step-by-step explanation:

The key stages of building a Corporate Social Responsibility (CSR) plan involve several strategic steps. The correct option that represents the stages of building a CSR plan is (A) Identifying CSR stakeholders, planning, and implementing initiatives. Important components of this process include:

• Identifying CSR stakeholders: Determining who will be impacted by the CSR initiatives and who has an interest in the company's activities.
• CSR Planning: This involves setting achievable and appropriate goals for the CSR initiatives and developing a plan to pursue them. This is where you decide how to make the defined goals a reality.
• Implementing initiatives: Executing the planned CSR initiatives to ensure that they are carried out effectively and the goals are met.

Other options such as creating company logos or setting financial targets do not directly relate to the development of a CSR plan; these activities pertain more to branding and financial planning within the business.