chapter 2- CSR Flashcards
What does CSR stand for?
Corporate Social Responsibility
CSR focuses on the relationship between businesses and society, considering the impact of business on social well-being.
What is the main focus of Beyondprofits?
Responsibility towards people and the environment, not just profit-making.
How are stakeholder expectations regarding social responsibility characterized?
Continuously changing.
What do businesses need to create for effective CSR implementation?
Actionable policies and procedures.
What is required for good intentions in CSR?
Tangible initiatives; mere policies on paper are insufficient.
What is the goal of Corporate Social Responsibility in a business context?
Ensure commercial sustainability while meeting societal expectations.
Is the idea of businesses giving back to society a new concept?
No, it is not new; founders of Kellogg and Ford emphasized this responsibility.
What is an ongoing debate in the context of CSR?
The extent of business responsibility and balancing social actions with profitability.
What does the King Code emphasize regarding businesses?
Businesses should act as good corporate citizens and demonstrate care for society and the environment.
Who do ethical businesses engage with to ensure sustainability?
Various stakeholders including employees, shareholders, customers, government, and lobby groups.
What is the cynicism about CSR often related to?
The belief that businesses may only appear socially responsible for brand image and profit.
Fill in the blank: CSR focuses on the relationship between businesses and _______.
society.
True or False: The King Code suggests businesses should prioritize profit over societal care.
False.
What is the main purpose of CSR?
Helps businesses understand and address stakeholder needs and mitigate negative impacts with proactive solutions.
What are the two levels of CSR responsibility?
- Primary responsibility
- Secondary/Broader responsibility
Define primary responsibility in CSR.
Obligation to care for stakeholders directly affected by the business’s success.
Define secondary responsibility in CSR.
Obligation towards stakeholders indirectly affected by business activities.
Who suggested an alternative approach to CSR measurement?
Pioneers Blowfield and Murray.
What does the pyramid model in CSR assess?
The level of responsibility of a business.
What is economic responsibility in CSR?
Businesses must be economically active by producing goods/services for profit.
What is legal responsibility in CSR?
Businesses must respect and obey the laws of the country they operate in.
What is ethical responsibility in CSR?
Businesses must make ethical decisions that avoid negatively impacting stakeholders.
What is discretionary responsibility in CSR?
Involves actively giving back to society and ensuring values are practiced in all activities.
What is one argument for CSR related to community support?
Businesses engaging in CSR programs gain greater support and brand loyalty from the community.
What is a potential consequence of failing to address social issues?
Customers may avoid areas with rising crime due to poverty, impacting business sales.
What is the debate on enforcement in CSR?
Discussion on whether the government should enforce CSR compliance through laws.
How can CSR contribute to improved standard of living?
Assisting communities with education and health programs leads to higher living standards.
What role does CSR play in environmental sustainability?
Contributes to sustainability and ensures resources for future generations.
What do ethical business practices in CSR encourage?
Encourage businesses to consider stakeholder impact.
What is one argument against CSR related to core activities?
Some businesses argue that CSR distracts from primary business functions.
What is a concern regarding perceived loss of profit in CSR?
Businesses and shareholders view CSR expenditures as reduced profits.
What is a challenge in measuring CSR benefits?
Difficulty in quantifying CSR benefits makes it hard to assess its value.
What is community pressure in the context of CSR?
Businesses may feel pressured to continuously support communities.
What is a criticism related to sustainability in CSR projects?
Some CSR projects lack sustainability and waste resources on short-term initiatives.
What is greenwashing in the context of CSR?
Misleading claims about environmental practices.
What is a concern regarding shifting state responsibility in CSR?
CSR allows the government to avoid its own responsibilities.
What is the general consensus on the need for CSR in South Africa?
Widespread agreement on the necessity of CSR programs.
What should CSR programs prioritize for a lasting positive impact?
Sustainability.
What is the long-term goal of CSR initiatives?
To create long-term changes that improve people’s lives.
