Chapter 1: Social Responsibility Framework Flashcards
Is a legal entity created by an individual or group of shareholders who have ownership of the corporation to engage in business activities.
Corporation
Who defines a corporation as a structure established by law to allow different parties to contribute to capital, expertise, and labor.
Monks and Minow
It has been a popular form of business organization because of four appealing attributes:
- Limited liability
- transferability of ownership
- legal personality
- centralized management
Owners of corporations may protect their assets from being foreclosed or confiscated, and creditors can only recover debts incurred by the company through liquidation of remaining assets
Limited Liability
Allows a shareholder to sell his shares of stocks in the stock market freely should he/she decided to let go a part or all of his shares unless explicitly stated in the corporate by laws.
Transferability
Corporations are _______________ and are sometimes defined as “legal persons”
Legal entities
Accdg. to _____________, there is no minimum number of incorporators but shall not have more than 20.
2019 RCC
True or False
Today, a corporations is granted a perpetual corporate term
True
Is a manifestation of good corporate governance
Corporate Social Responsibility
Is th responsibility of companies to act and behave ethically to satisfy their various stakeholders’ needs.
CSR
Who provided four dimensions that provide a structure or framework that characterize companies’ responsibilities
Archie Carroll (1991)
Four dimensions
- Economic
- Legal
- Ethical
- Philanthropic
The lowest layer of the pyramid suggests that companies must first profitable after they have paid their obligations to employees and suppliers and conform to consumers’ needs and demands
Economic
A corporation is created througl law and as such must abide by the rules and regulations imposed for fairness and justice.
Legal
To fulfill this responsibility, companies need to truly embrace _______________, meaning, issues that pertain to the improvement of human lives must be addressed without compromise.
Philanthropic
Who argued that sole responsibility of corporations is to generate profit for the shareholders and that it is the government’s responsibility to provide for society’s needs.
Milton friedman
Drivers of CSR
Regulation
- Markrt Behavior
- Social Activism
- Culture
- Strategy
Barriers
- Limuted Financial resources
- Profit Maximization
- Availability of human resources
Who introduce CSR
Howard Bowen 1953
Who introduce Balanced Scorecard
Kaplan and Norton (1996)
Four Dimensions of Balanced Scorecard
- Financial
- Customer
- Processes
- Learning and Growth
To focused financially how should we appear to our shareholders
Financial
To satisfy our shareholders and customers what treasures process must we excel at
Internal Business Process
To achieve our vision, how will we sustain our ability to change and improve
Learning and Growth
To adhere our vision, how we should appear to our customers
Customers
Triple Bottom Line
- People
- Planet
- Profit
Is an accounting framework that describes three evaluation perspectives that contribute of creating a greater value for the organization.
Triple Bottom Line
Has a key role in influencing CSR
Leadership
CSR and leadership are founded on cepts of service, integrity, and inspiration to others.
Guarneri & Kao 2008
Employees and managers as members of organizations are naturally concerned about contribute and react to their organization’s social consciousness
Rodrigo & Arenas 2008
The Filipino concept of _________ is considered to be an essential component of effective leadership
Kapwa; Ng and Rivera (2018)
Defines “kappa” as a shared identity with others.
Church and Katigbak 2002
This is rooted in the Filipino’s notion of “kappa” which embraces both the categories of ___________ and __________.
Outsider (ibang tao); One of us (Hindi ibang tao)
CSR has become an integral for most companies as it becomes an opportunity to wholly and directly engage stakeholders, creating shared value fo both the organization and the communities it serves.
Mr. Chito Bauzon
It is also often referred to as business responsibility and an organization’s action on environmental, ethical, social and economic issues.
CSR
ensuring that your business is
aware of its impacts, is
accountable for its actions, and
that it undertakes these actions
in a responsible manner.
CSR
It is a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public.
CSR
companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.
Corporate Citizenship
____________ activities can help forge a stronger bond between employees and corporations; boost morale; and help both employees and employers feel more connected with the world around them.
CSR
True or False
As resources become depleted then the cost of acquiring the remaining resources tends to increase, and hence the operational costs of organization tend to increase.
True
This is concerned with the effect which action taken in the present has upon the options available in the future.
Sustainability
This is concerned with an organization recognizing that its actions affect the external environment, and therefore assuming responsibility for the effects of its actions.
Accountability
Do what is desired by the global stakeholders
Philanthropical
Do what is expected by the global stakeholders
Ethical
Do what is required by the global stakeholders
Legal
Do what is required by the global capitalism
Economic
is a simple framework that helps argue how and why organizations should meet their social responsibilities.
CSR Pyramid
It is an ongoing commitment of organizations to ensure accountability to the stakeholders their existence impacts.
CSR
It is a manifestation of good governance.
CSR
It is the responsibility of companies to act and behave ethically to satisfy their various stakeholders’ needs.
CSR
