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Carroll’s CSR Pyramid Theory and Stakeholders Theory are two important approaches for understanding Corporate Social Responsibility (CSR). Both theories explain how businesses should behave responsibly towards society, but they focus on different dimensions of corporate responsibility. Carroll’s theory presents CSR as a set of four responsibilities that businesses are expected to fulfil, while Stakeholders Theory emphasises the interests and expectations of all groups affected by business activities. In the context of CSR projects and programmes, these theories provide a useful framework for identifying responsibilities, beneficiaries, priorities and methods of implementation. Carroll’s CSR Pyramid Theory was developed by Archie B. Carroll in 1991. According to Carroll, the social responsibility of business consists of four levels: economic, legal, ethical and philanthropic responsibilities. These four responsibilities are represented in the form of a pyramid, with economic responsibility at the foundation and philanthropic responsibility at the top. The model suggests that a socially responsible organisation should not focus only on earning profits but should also comply with laws, behave ethically and contribute voluntarily to the welfare of society. The first and basic level of the pyramid is economic responsibility. A business must be economically viable because profit enables it to survive, grow, employ people and undertake CSR programmes. Businesses are expected to produce useful goods and services, create employment, provide fair returns to investors ____ ___ _____ ___ _______ ______ _________ ____.
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