Match the items of List – I with List – II with regard to models of Corporate Social Responsibility.…
In the four classical models of Corporate Social Responsibility, Mahatma Gandhi's trusteeship philosophy underpins the Ethical Model of voluntary commitment to public…
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Match the items of List – I with List – II with regard to models of Corporate Social Responsibility.
| List-I | List-II |
|---|---|
| (a) Mahatma Gandhi | (i) Voluntary commitment by companies to public welfare. (Ethical Model) |
| (b) Jawaharlal Nehru | (ii) State ownership and legal requirements determine corporate responsibilities. (Statist Model) |
| (c) Milton Friedmen | (iii) Corporate responsibilities limited private owners. (Liberal Model) |
| (d) Edward Freeman | (iv) Companies respond to the needs of stakeholders. (Stakeholder Model) |
Answer and explanation
Correct answer D
In the four classical models of Corporate Social Responsibility, Mahatma Gandhi's trusteeship philosophy underpins the Ethical Model of voluntary commitment to public welfare (i), Jawaharlal Nehru's mixed-economy vision represents the Statist Model where state ownership and law define CSR (ii), Milton Friedman champions the Liberal Model limiting corporate duty to shareholder profit within the law (iii), and R. Edward Freeman formulated the Stakeholder Model (iv).
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