Corporate Social Responsibility

Question 1

Compliance

Answer 1

State of being in accordance with all national, federal, regional, and/or local laws, regulations, and/or other government authority requirements applicable to the places in which an organization operates.

Question 2

Corporate social responsibility (CSR)

Answer 2

Varying ways an organization can create value, looking beyond traditional profit measures of revenue and expenses; includes such areas as philanthropy, volunteerism, corporate-sponsored community programs, social change, sustainability, corporate governance, employee rights, and workplace safety.

Question 3

Ethics

Answer 3

Set of behavioral guidelines that an organization expects all of its directors, managers, and employees to follow to ensure appropriate moral and ethical business standards.

Question 4

Governance

Answer 4

System of rules and processes set up by an organization to ensure its compliance with local and international laws, accounting rules, ethical norms, internal codes of conduct, and other standards.

Question 5

Sustainability

Answer 5

Practice of purchasing and using resources wisely by balancing economic, social, and environmental concerns, with the goal of securing the interests of present and future generations.

Question 6

Triple bottom line

Answer 6

Economic, social, and environmental impact metrics used to determine an organization’s success