Distinguish between the following.

Traditional social responsibility and corporate social responsibility.

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Solution

Basis of Difference Traditional Social Responsibility Corporate Social Responsibility

Meaning Traditionally, traders and emperors used to help the poor and underprivileged with the profits they made. In modern times, business units commit to behave ethically and work towards the welfare of society.

Scope Operates at an individual or micro level Operates at the macro level, i.e., whole economy

Concept It has the philanthropic concept. It includes philanthropic, ethical, legal and economic concepts.

Evolution It evolved in ancient India and the pre-Christian era. It evolved after the World War II.

Type It includes tangible goals; so, it is narrowly defined. It includes both tangible and intangible goals; so, it is broadly defined.

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