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Corporate Governance > 5. Corporate Social Responsibility > Flashcards

5. Corporate Social Responsibility Flashcards

0
Q

Two core concepts of corporate social responsibility are:
S—
And S— E—

A

Sustainability

Stakeholder Engagement

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1
Q

Define Corporate Social Responsibility

A

The commitment by business
To contribute to sustainable economic development
Working with employees, their families, the local community and society at large
To improve their quality of life

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2
Q

Sustainability is — that meets the needs of the present without compromising the ability of future generations to meet their own needs

A

Development

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3
Q

Sustainability is development that meets the needs of the — without compromising the ability of future generations to meet their own needs

A

Present

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4
Q

Sustainability is development that meets the needs of the present without compromising the ability of — — to meet their own needs

A

Future generations

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5
Q

How does the 3Ps model describe the dimensions of CSR?

A

People
Planet
Profits

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6
Q

How does the SEE model describe the dimensions of CSR?

A

Social
Environmental
Economic

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7
Q

By what other name is the SEE model of corporate social responsibility known?

A

The triple bottom line

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8
Q

How does the ESG model describe the dimensions of corporate social responsibility?

A

Environmental
Social
Governance

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9
Q

What are the three relevant legal phenomena relating to human rights?

A

1948 Universal Declaration of Human Rights
1950 European Convention on Human Rights
1998 Human Rights Act

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10
Q

How are the rights in the 1998 Human Rights Act grouped?

A

Absolute rights
Limited rights
Qualified rights

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11
Q

With respect to workplace legislation, list five specific issues that organisations need to be aware of.

A 
Diversity and equal opportunities
Bullying and discrimination
Work-life balance
Health and safety
Whistle-blowing
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12
Q

When did the UK Bribery Act come into force?

A

2010

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13
Q

What four offences does the UK Bribery Act 2010 introduce?

A

Bribing another person
Being bribed
Bribery of a foreign public official
Corporate failure to prevent bribery

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14
Q

What are the four sections of the UN Global Compact relating to actions businesses should undertake to fulfil their social responsibilities?

A

Human Rights
Labour
Environment
Anti-corruption

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15
Q

According to the Human Rights section of the UN Global Compact, what are the two principles.

A

Businesses should:
Support and respect protection of internationally proclaimed human rights
Make sure not complicit in human rights abuses

16
Q

According to the Labour section of the UN Global Compact, what four things should businesses uphold?

A

Freedom of association and right to collective bargaining
Elimination of all forms of forced and compulsory labour
Abolition of child labour
Elimination of discrimination

17
Q

According to the environment section of the UN Global Compact, what three things are businesses asked to do?

A

Support precautionary approach to environmental challenges
Undertake initiatives to promote greater environmental responsibility
Encourage development and diffusion of environmentally friendly technologies

18
Q

What should businesses do according to the Anti-corruption section of the UN Global Compact?

A

Work against corruption in all forms, including extortion and bribery

19
Q

Briefly, what are AccountAbility’s three standards forming a framework for planning and implementing (embedding) CSR?

A

Inclusivity
Materiality
Responsiveness

20
Q

Inclusivity is the — of stakeholders in developing and achieving an accountable and strategic response to sustainability

A

Participation

21
Q

Inclusivity is the participation of stakeholders in — and — and accountable and strategic response to sustainability

A

Developing and achieving

22
Q

Inclusivity is the participation of stakeholders in developing and achieving an — and — response to sustainability

A

Accountable and strategic

23
Q

Inclusivity is the participation of stakeholders in developing and achieving an accountable and strategic response to —

A

Sustainability

24
Q

Materiality entails determining the — and — of an issue to an organisation’s stakeholders

A

Relevance and significance

25
Q

Materiality entails determining the relevance and significance of an issue to an organisation’s —

A

Stakeholders

26
Q

Responsiveness is an organisation’s response to — — that affect its sustainability performance

A

Stakeholder issues

27
Q

Responsiveness is an organisation’s response to stakeholder issues that affect its — —

A

Sustainability performance

28
Q

What are the five macro stages in a strategic approach to embedding CSR?

A
  1. Stakeholder engagement
  2. Values and strategy
  3. Policies
  4. Implementation of values, strategy and policies
  5. Monitoring and reporting
29
Q

List the stages in securing stakeholder engagement

A
  1. Map stakeholders
  2. Profile and prioritise stakeholders
  3. Select engagement methods
  4. Prepare engagement plan
  5. Implement engagement plan
  6. Report on engagement outputs
30
Q

— — — involves considering the ethical, social and environmental performance of companies selected for investment as well as their financial performance

A

Socially responsible investment

31
Q

What are the two main strategies used by institutional investors with respect to socially responsible investing?

A

Screening

Best in sector

32
Q

With respect to socially responsible investment, what does the strategy of Screening involve?

A

Evaluating a company against ESG criteria to determine whether it should be included or excluded from an investment portfolio

33
Q

With respect to socially responsible investment, what does the strategy of Best In Sector involve?

A

Evaluating a company’s ESG performance relative to other companies within its sector

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