Tutorial 2 - Social Responsibility Standard Chartered Bank is one of the note-issuing banks in Hong Kong. It opened a branch in Hong Kong in 1859 and has remained in operation for 160 years. The Bank commits to do the right thing, take a long-term view and support its clients and the Hong Kong community. Since 1997, Standard Chartered Bank has sponsored the Hong Kong Marathon. Through this sponsorship, the Bank promotes a healthy lifestyle and marathon spirit in community. The Bank also runs the Standard Chartered Arts in the Park youth education programme every year which aims to develop youngsters' creativity, teamwork and problem-solving capability through art. The event takes place over six months and involves over 3,500 young people from 200 schools and youth organizations. Besides, Standard Chartered Bank adopts the Employee Volunteering Leave Policy where every employee receives 3 additional days of leave to spend on community service each year. This policy encourages its staff to participate in community events and contribute to society. The staff have voluntarily established Programme Care, an employee-led committee, which organizes a number of community events. (Source: Hong Kong Standard Chartered Bank's website) a) What is social responsibility? Quote two examples from the above to illustrate that Standard Chartered Bank is a socially responsible company. (8 marks) b) Explain SIX arguments which support Standard Chartered Bank to be socially responsible. (12 marks)