CSR Flashcards
Ethical Code
A document detailing a company’s rules and guidelines on staff behaviour that must be followed by all employees
Give 4 advantages of CSR
Increased consumer loyalty and rate of return of customers.
Govt policies can be less detrimental to CSR firms.
Better brand image
Easier to recruit employees
Give 4 disadvantages of CSR
Conflicts of interest with shareholder
Conflict with profit motive
Higher costs
More pressure to stay true to the CSR aim
Give 4 advantages of an Ethical code
Avoid expensive court cases
More likely to win government contracts
Attract high skilled employees
Attracts ethical consumers
Give 4 disadvantages of an Ethical Code
Ethical supplies can be more expensive
Refusing bribes can mean reduced revenue
Loss of ‘pester power’ when limiting ads to children
Paying higher wages compared to unethical firms