CSR

Question 1

What is the working definition of CSR?

Answer 1

A commitment to improve community well-being through discretionary business practices and contributions of corporate resources

Question 2

What is the expanded definition of CSR?

Answer 2

A commitment to improving community well-being through discretionary business practices and contributions of corporate resources within the complex constraints of diversities, the tragedy of the commons, collaborations.

Question 3

What are the marketing related CSR initiatives?

Answer 3

1. Cause promotion
2. Cause related marketing
3. Corporate social marketing

Question 4

What are the non-marketing related CSR initiatives?

Answer 4

1. Corporate philanthropy
2. Socially responsible business practices
3. Employee volunteering

Question 5

Difference between cause promotion and corporate philanthropy

Answer 5

Cause promotion: short term, use of advertisements

Corporate philanthropy: long term, foundations

Question 6

Difference between corporate social marketing and socially responsible business practices

Answer 6

Corporate social marketing: an external change, attempt to change communities behaviors
Socially responsible business practices: internal change in companies’ practices

Question 7

Difference between cause related marketing and employee volunteering

Answer 7

Cause related marketing: use of product to spread a message

Employee volunteering: use of manpower to spread a message

Question 8

What are the keys of a successful CSR initiative

Answer 8

1. Select an issue
2. Choose a cause that the company can commit to
3. Connect campaigns to products
4. Decide how to measure and track results