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Governance > chap 6 terms > Flashcards

chap 6 terms Flashcards

1
Q

idea that businesses should operate according to principles and policies that make a positive impact on society and the environment.

A

Corporate social responsibility (CSR)

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2
Q

is a business model used by companies to enhance society and the environment through concerted efforts.

A

Corporate social responsibility

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3
Q

was officially introduced in the early 1950’s through American economist and educator Howard Bowen.

A

CSR / CORPORATE SOCIAL RESPONSIBILITY

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4
Q

Bowen paved the way for
the succeeding, academic research and management practice of
______.

A

CSR / CORPORATE SOCIAL RESPONSIBILITY

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5
Q

The last 40 years, beginning the 1970’s, saw the marked development in ______ as companies started to be more aware of their social Responsibility.

A

CSR / CORPORATE SOCIAL RESPONSIBILITY

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6
Q
  • In the 1980s and 1990s, more companies became more responsive to the various stakeholders due to social activism. At the turn of 21st century, ________ has become an integral part of organizational strategy and rightfully, so companies do not exist in a vacuum.
A

CSR / CORPORATE SOCIAL RESPONSIBILITY

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7
Q
  1. Economic responsibility (make profits)
  2. Legal responsibility (follow laws)
  3. Ethical responsibility (be fair)
  4. Philanthropic responsibility (be charitable).

IS EXAMPLE OF ________________

A

CSR / CORPORATE SOCIAL RESPONSIBILITY

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8
Q
  • This is about ensuring that your organization remains profitable and financially transparent.
    Responsibilities in this slice of the pyramid should include:
  • Keeping your costs to a minimum.
  • Maximizing income.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

A. ECONOMIC RESPONSIBILITIES

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9
Q
  • Invest in developing and growing the business in the long term.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

A. ECONOMIC RESPONSIBILITIES

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10
Q
  • Ensuring financial risks are managed correctly.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

A. ECONOMIC RESPONSIBILITIES

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11
Q
  • Providing a return to owners and/or shareholders.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

A. ECONOMIC RESPONSIBILITIES

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12
Q

enables you to create and sustain jobs in the community, and contribute useful, non-harmful products and services to society.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

A. ECONOMIC RESPONSIBILITIES

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13
Q
  • This is also straightforward and a minimum requirement for all businesses: to obey the law.
    Responsibilities covered by this area of the pyramid entail:

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

B. LEGAL RESPONSIBILITIES

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14
Q
  • Being truthful and transparent about the safety and security of the products or services
    you sell. ( Do not commit to deceptive product practices)

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

B. LEGAL RESPONSIBILITIES

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15
Q
  • Keeping your employees and customers safe.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

B. LEGAL RESPONSIBILITIES

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16
Q
  • Ensuring that you meet environmental, health, and safety requirements.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

B. LEGAL RESPONSIBILITIES

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17
Q
  • Paying taxes.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

B. LEGAL RESPONSIBILITIES

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18
Q
  • Paying mandatory employee benefits.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

B. LEGAL RESPONSIBILITIES

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18
Q

This extends your obligations to doing what is right and fair, even if it’s not required by law. To
attend to this responsibility, you’ll need the “moral” outlook that Carroll refers to.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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19
Q
  • An example would be avoiding structuring your company so that it pays little or no taxes, even if that would be allowed by the letter of the law.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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20
Q
  • Making your product safely and efficiently

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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21
Q
  • Selling it at a fair price,

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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21
Q
  • Treating your people well.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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22
Q
  • Changing product recipes for example if that product is a food item that has a lot of sugar
    in it.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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23
Q
  • Offering fair working conditions for employees, both of the business itself as well as its
    suppliers.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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24
Q
  • Honest business practices include equal pay for equal work and compensation initiatives.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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25
Q

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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26
Q
  • An example of ethical business practices is the use of products which have fair-trade certification. Ben & Jerry’s, for instance, only uses fair-trade certified ingredients, such sugar, coffee, bananas, and vanilla.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

C. ETHICAL RESPONSIBILITIES

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27
Q
  • This is the highest level of responsibility and goes beyond any legal or regulatory expectations.

It’s about being a “good corporate citizen,” actively improving the world around you.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

D. PHILANTHROPIC RESPONSIBILITIES

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28
Q
  • Enabling team members to take part in volunteering programs during work time.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

D. PHILANTHROPIC RESPONSIBILITIES

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29
Q
  • Sponsoring community initiatives.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

D. PHILANTHROPIC RESPONSIBILITIES

30
Q

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A
31
Q
  • Offering mentoring expertise to nonprofits.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

D. PHILANTHROPIC RESPONSIBILITIES

32
Q
  • Entering into community or charitable partnerships.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

D. PHILANTHROPIC RESPONSIBILITIES

33
Q
  • Donating to charity, and offering employee donation-match schemes.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

D. PHILANTHROPIC RESPONSIBILITIES

34
Q
  • Tackling wider global issues, such as poverty, climate change, racism, or gender inequality.

A. ECONOMIC RESPONSIBILITIES
B. LEGAL RESPONSIBILITIES
C. ETHICAL RESPONSIBILITIES
D. PHILANTHROPIC RESPONSIBILITIES

A

D. PHILANTHROPIC RESPONSIBILITIES

35
Q
  • BE RESPONSIBLE FOR GIVING BACK TO SOCIETY AND IMPROVING QUALITY OF LIFE

A. ECONOMIC RESPONSIBILITY
B. LEGAL RESPONSIBILITY
C. ETHICAL RESPONSIBILITY
D. PHILANTHROPIC RESPONSIBILITY

A

D. PHILANTHROPIC RESPONSIBILITY

36
Q

BE RESPONSIBLE FOR BEING MORAL AND FAIR

A. ECONOMIC RESPONSIBILITY
B. LEGAL RESPONSIBILITY
C. ETHICAL RESPONSIBILITY
D. PHILANTHROPIC RESPONSIBILITY

A

C. ETHICAL RESPONSIBILITY

37
Q

BE RESPONSIBLE FOR OBEYING LAWS AND REGULATIONS

A. ECONOMIC RESPONSIBILITY
B. LEGAL RESPONSIBILITY
C. ETHICAL RESPONSIBILITY
D. PHILANTHROPIC RESPONSIBILITY

A

B. LEGAL RESPONSIBILITY

38
Q

BE SUSTAINABLE AND PROFITABLE

A. ECONOMIC RESPONSIBILITY
B. LEGAL RESPONSIBILITY
C. ETHICAL RESPONSIBILITY
D. PHILANTHROPIC RESPONSIBILITY

A

A. ECONOMIC RESPONSIBILITY

39
Q
  • In the wake of fake news, news outlets are taking to social media networks like TikTok and Threads to address a new audience and tackle false information around issues such as the U.S. election and coronavirus.
A

THE WASHINGTON POST
(social media and journalism)

40
Q
  • Their goal is to draw in new readers and build trust using short-form videos and viral content.
A

THE WASHINGTON POST
(social media and journalism)

41
Q
  • Their primary focus as a modern-day superbrand is to phase out single-use plastic packaging for its bricks with all packaging to be sustainable by 2025.
A
  1. LEGO
    (packaging)
42
Q

While testing on creating a sustainable brick has been challenging, the company is committed to continuing its
research to come up with a viable
solution.

A
  1. LEGO
    (packaging)
43
Q
  • Currently, 93% of packaging is made from paper, cardboard, and other paper- based materials.
A
  1. LEGO
    (packaging)
44
Q

Work is now underway to replace single-use plastic pre-pack bags in LEGO boxes with paper-based ones in partnership with the Forest Stewardship Council.

A
  1. LEGO
    (packaging)
45
Q

_________ committed to reducing emissions and waste along with using sustainable design and
sustainable materials in its 2030 Environmental Goals report.

A

THE WALT DISNEY COMPANY
(local communities)

46
Q
  • Some of the goals include achieving net zero emissions for direct operations, using plastic
    that contains at least 30 percent recycled content or a lower-impact alternative material and eliminating single use plastics on cruise
    ships by 2025.
A

THE WALT DISNEY COMPANY
(local communities)

47
Q
  • They are also active in the community and encourage employees to do the same.
    Through ___________ VoluntEARS program, employees and cast members worldwide have
    volunteered 13 million hours of service to their communities while more than $140 million of
    Disney’s donations were directed to programs serving underrepresented communities.
A

THE WALT DISNEY COMPANY
(local communities)

48
Q
  • Produces its electricity through solar panels and wastewater and aims to have all its beer carbon neutral by 2030.
A

NEW BELGIUM BREWING COMPANY
(sustainability)

49
Q
  • The first wind-powered brewery in the United States, the first certified carbon-neutral beer in North America (Fat Tire), and the first to achieve a perfect score of
    100 on the Human Rights Campaign’s Corporate Equality Index.
A

NEW BELGIUM BREWING COMPANY
(sustainability)

50
Q
  • It also gives away $1 of every barrel sold to support its philanthropic initiatives,
    values, and goals giving away $30 million so far.
A

NEW BELGIUM BREWING COMPANY
(sustainability)

51
Q
  • To tackle racial and social equity, _____________ announced a mentorship program to connect black, indigenous, and people of color (BIPOC) to senior leaders and invest in partnerships.

The chain also aims to have BIPOC represented at 30% in corporate roles and 40% in retail and
manufacturing by 2025.

A
  1. Starbucks
    (workplace diversity & inclusion)
52
Q
  • With an eye to hiring, ___________ wanted to diversify its workforce and provide opportunities for specific cohorts.

It has pledged to hire 25,000 US military veterans and spouses by 2025 as part of its socially
responsible efforts.

The company has surpassed
targets, hiring 40,000 veterans and spouses since the launch.

A
  1. Starbucks
    (workplace diversity & inclusion)
53
Q
  • Over a decade since General Electric launched Ecomagination, its
    renewable business strategy with a
    mission to double down on clean
    technology and generate $20 billion in revenue from green products.
A

GENERAL ELECTRIC
(clean technology)

54
Q
  • As part of its ‘Ecomagination
    Challenge’ launched last year, GE
    awarded five people $100,000 each to develop their innovations such as an inflatable wind turbine, an intelligent water meter, a cyber secure network infrastructure, and short-circuiting and outage technology.
A

GENERAL ELECTRIC
(clean technology)

55
Q
  • Backing climate-neutrality, __________ is a major provider of high-quality, reliable electronics, along with other solutions to support sustainable developments.

The company is committed to reducing emissions both upstream and downstream in its supply chain.

A

BOSCH
(climate neutral)

56
Q
  • ____________ donates up to
    1.5% of its revenue to charitable causes each year to more than
    14,500 nonprofits through philanthropy such as food banks and incubators (plant science
    and renewable energy) to hasten the speed to market for start -ups
A

WELLS FARGO
(philanthropic)

57
Q
  • A recent ‘Housing Affordability Breakthrough Challenge’ was established by ________________
    to address the housing affordability crisis in America.

Winners of the challenge received between $2 to $ 3 million along with support from peers and industry experts to scale new strategies to make homes more accessible and affordable
.

A

WELLS FARGO
(philanthropic)

58
Q
  • Promotes health equity and enables equitable access to vaccines.
A

PFIZER
(access to healthcare)

59
Q
  • They also provide grants in the instance of natural disasters such as Haiti in the aftermath of Hurricane Matthew and the
    global refugee crisis in Europe and the Middle East. This money is provided in cooperation with NGOs to reach as many people as possible.
A

PFIZER
(access to healthcare)

60
Q
  • Through _________ Global Health Innovation Grants program, $100,000 is provided each
    year to twenty organizations to drive solutions to address vaccine-preventable illnesses in their communities.

The North Star Alliance in Uganda is one grant recipient.

A

PFIZER
(access to healthcare)

61
Q
  • 24 weeks of paid leave but employees can take parental leave until their child is three years of age.
A

Spotify (employee rights)

62
Q
  • The program also allows employees one month of flexible work when they return to help transition from being a full-time parent to a full-time employee
A

Spotify (employee rights)

63
Q
  • __________ enables relationships by offering its staff members ___ weeks of paid parental leave, which can be taken any time within a child’s early years.
  • To put this into perspective, the
    average technology firm provides
    parents with __ weeks of paid leave
    during the maternity/paternity phase.
A

NETFLIX
(employee rights)

52
18

64
Q
  • To put this into perspective, the
    average technology firm provides
    parents with ___ weeks of paid leave
    during the maternity/paternity phase.
A

NETFLIX
(employee rights)

18

65
Q
  • Their mission is to ‘build a better world, where everyone is free to move and pursue their dreams’. They have increased investment in electrification to $22Bn (from an original $11Bn) and aim for their vehicles to be carbon neutral by
    2050.
A

FORD MOTOR COMPANY
(carbon neutral & pay equity)

66
Q
  • The company is also focusing on pay equity.

They are conducting a diversity,
equity, and inclusion audit while
introducing a global salaried pay ratio (including gender) to level the playing field for all employees.

A

FORD MOTOR COMPANY
(carbon neutral & pay equity)

67
Q
  • Their message is ‘a world without waste’, with the aim of collecting and recycling every bottle, making their packaging 100% recyclable, and replacing all water used in
    creating their drinks back to the environment to ensure water security.

They aim that by 2030, they will have reduced their carbon footprint
by 25%

A

COCA-COLA COMPANY
(sustainability)

68
Q
  • In 2021, the business announced the first-ever plant-based bottle and has since been refining
    its product and understanding how it will align with the wider manufacturing process.
A

COCA-COLA COMPANY
(sustainability)

69
Q

is trusted not only for its environmentally friendly initiatives but also due to its outspoken
CEO, Sundar Pichai. He stands up against social issues including President Donald Trump’s anti-
Muslim comments and the impact of AI in society in terms of misinformation and fake
news.

A

GOOGLE (social issues)

70
Q

The company also builds tools to help minority-owned businesses and communities and factors in accessibility.

A

GOOGLE (social issues)

71
Q

__________ also funds initiatives to drive inclusion both in the company and society in the areas of
Racial Equity, Disability inclusion, Gender equality, LGBTQ+ inclusion, and Veteran inclusion

A

GOOGLE (social issues)

72
Q
  • A leading organization in the
    pharmaceutical industry, _____________________ acts as a great example of CSR in action. For more than 30 years, _____ has dedicated many of its efforts to minimizing its ecological footprint.
A

Johnson & Johnson
(renewable innovation)

73
Q
  • Their purchase of a privately owned energy supplier in the Texas Panhandle allowed the company to reduce pollution while providing a renewable, economical alternative to electricity.

The company continues to seek out renewable energy options to have 100% of its energy needs from renewable sources by 2025.

A

Johnson & Johnson
(renewable innovation)

Governance (6 decks)

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