Corporate Social Responsiblity Flashcards
Define socio economic issues
Refers to problems that impact the lives and well-being of individuals, businesses, the community, and the overall functioning of the economy
What are examples of socio economic issues
Poverty
Unemployment
Levels of education
Crime
Utilisation of resources
Service delivery
HIV/AIDS pandemic
What is unemployment
When potential employee are willing and able to work but there are no suitable jobs available for them
NB! If a person choses not to find employment eg housewife, then it is not considered unemployment
What does EAP stand for
Economically active population (15-64 years of age)
What are the types of unemployment
Structural, frictional and seasonal unemployment
What is structural unemployment
Unemployment caused by changes in technology. Jobs become redundant when people are replaced by machines. Workers who do not keep up with changes in technology Will lose their jobs.
What is frictional unemployment
When population growth is higher than economic growth this results in an oversupply of labour. Entrepreneurship is becoming increasingly important to create jobs for big population
What is frictional unemployment also known as and why
Demand- deficiency unemployment. This is because there is an insufficient demand for good and services which causes business to retrench workers.
What is cyclical unemployment
Unemployment that will start during a recession so on when businesses slack and will peak during depression
What is seasonal unemployment
Seasonal industries such as agriculture and hotel industry etc. More staff are usually hired during high/peak season
What is recession
The economy slowing down over a period of time
What is depres soo on
When recession continues over a period of time
What Implications does unemployment have
Unemployment has economic, social and ethical implications.
What are the economic, social and ethical implications of unemployment
- a persons self esteem suffers
- out of desperation, people resort to crime and violence
- factors of production (labour) is not utilised to its full capacity
- Political consequences
- free market economy is questioned
- Social consequences such as increased unemployment, poverty and crime
- poverty cycle cannot be broken
How does HIV/AIDS impact businesses and society
- lower productivity
- increased sick leave
- missed school days
- medical costs increase
- government costs
- trained and experienced employees die and new employees need to be trained which increases costs for the business
What do businesses need to do as part of CSR with resources
Businesses need to take responsibility of their impact on the environment and our natural resources
What is environmentalism
Voicing concerns about the state of the environment this is becoming a strong concern worldwide
What environmental concerns are we facing
Global warming
Deforestation
A shortage of freshwater supplies
Pollution
What do developed countries do that worsen the environment
Developed countries tend to exploit resources in developing countries
How can be businesses help towards preserving our resources
Businesses need to look at more sustainable (long term) approached to their utilisation of resources
What are the advantages of a green business
Increased market share
Marketing opportunities
Responsible utilisation of resources
Complying with legislation
positive publicity
What are citizenship roles
People and businesses need to understand their normal and social responsibility towards their community. They also need to understand democratic and political situations in a country (political literacy) in order to ensure responsible citizenship and social order in South Africa
What does fulfilling citizenship role bring
Rights and responsibilities such as rights to civil citizenship and political rights as well as to be a responsible citizen
What are the roles of citizens
- Loyalty to the country
- Défense of the state
- Participation in the development welfare of the state
- upholding the constitution and obedience to the laws of the lands
- exercise of suffrage and participation in the electoral process
What social responsibility do citizens have
Contributing to the community though drives like slipper day and Christmas wish list
What is corporate social responsibility
The moral obligation of businesses to contribute to the greater good of the community eg. Fidelitas
What is corporate social investment
The actual factors of production that a business ours into helpihg the community eg putting in money or labour
What is environmental responsibility
How we care for the environment eg recycling
