Given below is a quote from the Business Council of Australia (2005):

“Given the difficulty defining corporate social responsibility (CSR), as well as the fact that CSR activities are already broadly being pursued in Australia by large corporations, mandating the CSR through legislative intervention runs the risk of stifling the innovative and creative approaches to CSR that are being adopted by Australian companies”. Write USING the following points:

a) Evaluate the above quote from a critical perspective.

b) Discuss how does legitimacy theory and stakeholder theory explain corporate social responsibility reporting.