ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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People
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Products
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Profit
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Planet
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Detailed explanation-1: -Culture is not one of the three factors of Corporate Social Responsibility. Culture is not one of the areas in which organizations have corporate social responsibility. The three factors of CSR are environment, economy, and society. These are often referred to as planet, profit, and people.
Detailed explanation-2: -Triple bottom line (TBL), in economics, believes that companies should commit to focusing as much on social and environmental concerns as they do on profits. TBL theory posits that instead of one bottom line, there should be three: profit, people, and the planet.
Detailed explanation-3: -People: Companies are liable for the well-being of society and its people. Profits: It is every company’s responsibility to pay its lenders, operational creditors, and employees. Planet: It is concerned with the location, i.e., the area, city, or state in which the company is located.