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Corporate Social Responsibility Flashcards

1
Q

Corporate social responsibility (CSR)

A
  • Varying ways an organization can create value 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.
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2
Q

Ways CSR has recently changed

A
  • Expanded definition to include sustainability
  • Moved to center stage from being on the sidelines
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3
Q

Strategically aligning CSR includes

A
  • Preparatory research into existing benchmarks,
    • Includes:
      • international frameworks/guidelines
      • Reported results of companies’ CSR efforts and initiatives.
  • A CSR strategic development and implementation process.
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4
Q

Triple bottom line

A
  • Approach is called full cost accounting or true cost accounting
  • Goes beyond the bottom line of profit and loss
  • Includes the 3Ps principle of sustainability
  • Shows more of the organization’s total value
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5
Q

3Ps principle of sustainability includes

A
  1. People
  2. Planet
  3. Profits
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6
Q

The goal of tripple bottom line strategy

A
  • Create a positive ROI in each of the three areas
  • Can serve as a scorecard of measures for evaluating if and how to pursue a given product to meet sustainability goals
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7
Q

Social audit

A
  • A formal review of an organization’s social and environmental policies and procedures
  • Used to understand, measure, report and improve upon the social performance of the organization
  • Resembles 360 as it begins by interviewing all stakeholders internal and external and publishes the results that is available to all participants
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8
Q

Forces shaping CSR

A
  • Technology
  • Environmental concerns
  • Economic pressures
    • Ex: recruiting and paying for CSR
  • Sociopolitical factors
    • Ex: civil and social rights (same sex marriage)
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9
Q

CSR maturity curve steps

A
  1. Compliance
  2. Integration
  3. Transformation

A big step is seeing where you are and what steps need tobe taken to move to the higher phase

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10
Q

Compliance step in CSR maturity curve

A
  • Social responsibility seen as cost of doing business
  • Response to reguatory requirements or negitive publicity
  • Efforts are means to show good citizenship but are not a core corporate strategy
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11
Q

Integration step in CSR strategy

A
  • Integrated in regular business functions
  • Products and services are redesigned to be more responsible and sustainable
  • CSR is approached as enlightened self-interest
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12
Q

Transformation step in CSR stratey

A
  • Organizations have redefined themslves and their brand to reflect commitment to CSR
  • This strategy is used to differentiate them from competitors
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13
Q

HR involvement in CSR

A
  • Culture change
  • Corporate strategy
  • Organizational effectiveness
  • Human capital development
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14
Q

CSR effects what HR functions

A
  • Employee contract
  • Recruiting
  • Brand
  • Engagement
  • How people work
  • Accountability and measurement
  • Training and leadership development
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15
Q

Compliance

A

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.

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16
Q

Ethics

A
  • 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.
  • Focus on behavior focusing according to the core ethical beliefs and convictions about honesty, respect fairness and responsibilities
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17
Q

Breaches in compliance

A

Can create legal issues

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18
Q

Breaches in ethics

A
  • Damage public perception of organization
  • Hurt brand image - crucial to competitive markets
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19
Q

Ethical universalism

A
  • Standardization
  • There are fundamental principles that apply across cultures and that global organizations must apply these principles when making decisions in a country, without regard to local ethical norms.
  • Organizations may mistake their home-country ethics for universal values
  • Fundamental principles may be expressed in different ways on a local level with different priorities
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20
Q

Cultural relativism

A
  • Localization
  • Ethical behavior is determined by local culture, laws, and business practices
  • Organizations may violate its core values and weaken its ethical character
  • Difficult for those ouside a culture to gage another culture’s norms correctly
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21
Q

Areas of supply chain ethics

A
  • Workplace safety
  • Child labor
  • Sustainability
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22
Q

How to ensure socially responsible supplier conduct

A
  • Inspect their work sites; interview their customers and employees and members of the local community.
  • Seek out evidence that legal and ethical behavior is a top priority.
  • Develop a code of conduct specifically for suppliers, and stipulate in the partnership agreement that compliance is a condition of doing business.
  • Establish procedures for ongoing reporting and monitoring.
  • Create a detailed database to track inspection results as well as actions taken in response to any negative findings for every supplier location.
  • Use this information to make subsequent decisions related to a particular supplier.
  • Assess the broader risks associated with doing business in specific countries, and develop strategies for minimizing them in the future.
  • Proactively provide the same information to other organizations for which you are a supplier.
  • Due diligence on all potential business partners.
    • Research: ethical vulderabilities of home country, work sites and legal and ethical behavior
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23
Q

Governance

A

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

24
Q

Good governance

A
  • Outcome of assessment of enterprise’s legal, ethical and civic obligations to the communities it serves
  • Comes from the top down
  • Transparent and accountable to each level and function
  • Aims to be ethically internally and externally
25
Q

Outcomes of bad governance

A
  • Customer boycotts
  • Shareholder resolutions
  • Employee recruitment and retention
26
Q

Sustainability

A
  • Purchasing and using resources wisely
  • Balancing economic, social, and environmental concerns, with the goal of securing the interests of present and future generations.
  • Analyzed in terms of the 3Ps
27
Q

The 3Ps

A
  • People
  • Planet
  • Profits
28
Q

Sustainability sweet spot

A
  • Where the 3Ps overlap
  • Benefits people, the environment and the organization’s budget
29
Q

Sustainability stakeholders include

A
  • All those affected by the organization’s social, environmental and economic impact
  • Ex: shareholders, employees, customers, suppliers, regulators and local communities
30
Q

Stakeholder alliances and partnerships

A
  • Done with outside stakeholders
  • Includes:
    • Nongovernmenral organizations (NGOs)
    • Community organizations
    • Government agencies
    • Other companies
31
Q

Nonprofits and an external stakeholder partner

A
  • Offer on the ground knowledge of a community
  • Specialized skills
  • Credibility
  • Ability to buy down start-up costs
32
Q

Government agencies as an outside stakeholder partner

A
  • Leverage infrastructure
  • Develop policy frameworks
  • Reduce investment risks
33
Q

Shared value

A
  • Win/win
  • Creates economic value in a way that it creates value for the society by addressing needs and challenges
34
Q

How organizations can create shared value

A
  • Reconceiving products and markets
    • Ask if the product is good for their customers
  • Redefining productivity in the value chain
    • Reduce waste, minimize resources and ensure health and safety of employees
  • Enabling local cluster development
    • Related organizations (related businesses, suppliers and schools)
    • Infastructure (roads, water, energy supply)
35
Q

Organisation for Economic Co-operation and Development (OECD)

A
  • Create guidelines from the International Labor Organization (ILO)
  • Recomended and voluntary adherence
36
Q

OECD guidelines for multinational enterprises includes these topics

A
  • Disclosure
  • Human rights
  • Employment and industrial relations
  • Environment
  • Combating bribery, bribe solicitation, and extortion
  • Consumer interests
  • Science and technology
  • Competition
  • Taxation
37
Q

The Global Reporting Initiative Sustainability Reporting Standards (GRI Standards)

A
  • Universally accepted standards for reporting the results of an organization’s sustainability programs
  • Improves transparency in reporting results to stakeholders
38
Q

GRI standards include

A
  • Economic
  • Environmental
  • Social
39
Q

ISO 26000

A
  • Quality standard that provides guidance on key themes of social responsibility
  • Provides principles of social and environmental responsibility as well as guidance for action and expectations for implementation.
40
Q

CSR strategic process

A
  1. Executive commitment
  2. Assessment
  3. Infrastructure creation
  4. Plan implementation
  5. Measuring, reporting and evaluation
  6. Reassessment and revison
41
Q

Benefits of CSR strategy

A
  • Improves ability to attract and retain top talent
  • Enhances innovation and new product development by pursuing sustainability sweet spots
  • Cuts cost of operations, transportation and energy use
  • Increases brand image value
  • Reduces sanctions through improved compliance measures
42
Q

The three areas of CSR value creation

Where it captures value

A
  1. Growth
  2. Returns on capital
  3. Risk management
    1. Includes compliance and corporate reputation and branding
43
Q

CSR assessment components

A
  • Reviewing systems and procedures to evaluate current sustainability
  • Gather input from internal and external stakeholders
44
Q

CSR assement of the organization looks at

A
  • Any current CSR systems and processes
  • Operations, products and services, transportation and logistics, employee relations, marketing
  • Global - review of subsidiaries and differences that a CSR strategy will need to consider
  • The supply chain
45
Q

CSR infrastructure is responsible for

A

Guiding, overseeing, administering, reviewing and championing CSR strategy

46
Q

Reasons why HR should be involved in implementing a CSR strategy

A
  • Ensures that the policy will be translated into actions, not just PR
  • Puts HR in higher and more strategic level in the organization
47
Q

CSR plan impementation tasks

A
  • Set the strategy
  • Set priorities and objectives
    • Clear steps and long-term objectives
    • Define results and who is accountable
  • Implement the plan action created
48
Q

Components of a compliance program

A
  • Be supported by a corporate culture
  • Have educational component that provides rules of conduct and decision making guidance
  • Ongoing monitoring, auditing and evaluation
49
Q

Approaches to CSR evaluation

A
  • Process evaluation of the compliance program monitors components and outputs
    • Measures what program activities were preformed and their outputs
  • Outcomes evaluation aiming at the actual results from the program
50
Q

How to measure, report and evaluate CSR strategy

A
  • Use GRI Standards criteria as basis
  • Align goals to the measurement and evaluation
51
Q

Reassessment and revision of CSR strategy includes

A
  • Looking at the sustainability
  • Have infrastructure and processes in place to provide clear sense of progress achieved, victories won and next steps
52
Q

Corporate philanthropy includes

A
  • Charitable donations to existing causes
  • Foundations and award grants or sponsorships to invidiuals or organizations
  • Strategic partnerships with nonprofit organizations
  • Create and manage entity to administer and provide community, social, or environmental services
53
Q

Benefits from employee volunteerism

A
  • Engagement and motivation
  • Teamwork capabilities, leadership skills and interpersonal skills
  • Strengthens corporate culture
  • Corporate reputation
54
Q

Advantages of Globally Integrated Programs

A
  • Fewer relationships and designees means lower operating costs.
  • Single focus offers opportunity for greater shared learning.
  • Dominant relationship with single cause may strengthen organization’s brand and lessen appearance that organization is exploiting cause.
  • Favorite programs of local managers are less likely to be singled out for support.
  • Single focus may magnify effect of donations.
  • Risk to the organization from association with multiple, little-known causes is reduced.
55
Q

Advantages of Locally Responsive Programs

A
  • Local managers are better judges of local stakeholder demands.
  • Local stakeholders (both governments and consumers) may be influenced by local philanthropy.
  • Organization can create impact most needed by each country.
  • Competitors are less likely to copy organization’s efforts.
  • Having multiple nonprofit partners diminishes donor fatigue.
  • Risk is spread out across nonprofit partners.

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