CH 5: Corporate Social Responsibility

Question 1

What are the 3 reporting targets on Triple Bottom line reporting?

Answer 1

1. Financial (Profit/Loss)
2. Social
3. Environmental

Question 2

What is sustainable development?

Answer 2

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Question 3

What term is described by a Companies’ philanthropic initiatives?

Answer 3

Corporate Social Investment (CSI)

Question 4

What is the term that best describes how a company’s objectives, strategy & decision making structures are developed, implemented and monitored.

Answer 4

Corporate governance

Question 5

What are the benefits for the business case for CSR

Answer 5

1. Savings resulting from energy-savings technology
2. Positive reputation resulting in client loyalty, attracting higher-quality employees and improving relationships with investors.
3. Competitive advantage and value creation.
4. Investor confidence = access to capital
5. Revenue growth & market access
6. Risk management & licence to operate
7. Brand value & reputation

Question 6

List the steps in the stakeholder engagement process

Answer 6

1. Prepare
2. Plan
3. Design
4. Engage
5. Evaluate
6. Apply

Question 7

What is meant by obeying the intent and the literal interpretations of the law.

Answer 7

The Spirit of the law

Question 8

What quality is described by open and honest attitude?

Answer 8

Candour

Question 9

What mechanism can be implemented to minimize conflict of interest?

Answer 9

Independence