- At the bottom of the pyramid, points are required
- Towards the top, points are more optional
- A simple example of how to approach CSR
- Public limited companies must have a CSR report
- CSR is built on the foundation of profit, which is why Economic is at the base of the pyramid
Main responsibilities
Economic
- Responsibility of the business to be profitable
- Only way to benefit society in the long term
Legal
- Responsibility to obey laws and other regulations
Ethical
- Responsibility to act morally and ethically
- Going beyond the narrow requirements of the law
Philanthropic
- Responsibility to give back to society
- Discretionary but still important
Strengths and Weaknesses
Strengths
- Easy to understand
- Simple message
- Emphasis on importance of profit
Weaknesses
- Perhaps too simplistic
- Should ethics be at the top?
- Subjective/ liable to greenwashing
- Possibly just window dressing