Corporate Social Responsibility Flashcards

1
Q

What is CSR?

A

A concept where companies integrate social and environmental concerns in their operations and in their interaction with stakeholders on a voluntary basis

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2
Q

What is sustainability?

A

Meeting the needs of the current generation without compromising the ability for the furture generations to meet their own needs

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3
Q

Where do companies sometimes report their CSR in terms of sustainability?

A

in their balance sheets - accounting for sustainability - record usage

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4
Q

How do companies document their CSR activities?

A

In CSR reports - water usage, carbon emissions etc

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5
Q

Why don’t some companies want to be socially responsible?

A
  • Their role is to provide profits for shareholders, feel its not their responsibility
  • Doesn’t always improve reputation - some people don’t care
  • Don’t want to compromise profits - cost passed to customers
  • Damages innovation
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6
Q

Why do companies operate in a socially responsible way?

A
  • Ethical - pleases stakeholders
  • Morally right
  • Improves reputation: attracts customers
  • Can be profitable - reducing waste, access to grants
  • Helps avoid excessive regulation
  • Can increase employee motivation - helps recruit
  • Helps correct social problems caused by business
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7
Q

How are businesses socially responsible to their consumers?

A
  • Value for money
  • Product quality and safety
  • Fair and honest advertising, responsible selling/promo
  • Sustainable products, local sourcing
  • After sales service, fair handling of complaints
  • Product testing
  • Labour rights
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8
Q

How are businesses socially responsible in the workplace?

A
  • Equal opportunities, diversity
  • Fair pay above inflation
  • Enough breaks
  • Good conditions, health and safety
  • Work life balance, social facilities
  • Training in new skills, participation in decision making
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9
Q

How are businesses socially responsible in the community?

A
  • Offering jobs to local community
  • Community projects
  • Minimise polution/disruption to community
  • Consult on major change
  • Source from local suppliers
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10
Q

How are businesses socialy responsible in the environment?

A
  • Low pollution - co2 emissions
  • Sustainable resources
  • Reduction in waste - packaging, energy
  • Recycling, waste management
  • Congestion minimised
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11
Q

How can CSR be a threat?

A
  • higher costs
  • programme investment
  • management and reporting - time consuming
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12
Q

Why might there be pressure for CSR?

A
  • Senior management attitude/experience
  • Strength of stakeholder pressures
  • Competitor actions/attitudes
  • Risks of being irresponsible and being caught out
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13
Q

Why is CSR and opportunity?

A
  • USP
  • Subsidies
  • Builds a brand
  • Motivate and retain employees
  • Grow revenue and profit
  • Reduce waste
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