Jewels, Jewels and More Jewels Ltd is one of the largest sellers of diamonds in Australia. It has more than 50 stores nationwide and sells on the internet as well. This morning, Jane Peterson, one of the senior managers of Jewels, Jewels and More Jewels Ltd, read an article in the press accusing Big Diamond Factory, one of its major suppliers, of having acquired ‘blood diamonds’. Blood diamonds are also called conflict diamonds because they are mined in war-torn African countries by the rebels to fund their efforts. The rebels are known to abuse human rights by murdering and enslaving the local populations to mine the diamonds. Jane can’t believe it and calls you into her office to prepare a report for all senior staff. 

Required

(a) Explain the concept Corporate Social Responsibility (CSR).

(b) Discuss in detail, the impact this information could have on Jewels, Jewels and More Jewels Ltd.

(c) What could the management of Jewels, Jewels and More Jewels Ltd do to avoid negative consequences?