CSR Flashcards
What is CSR
how much a business meets the needs of wider stakeholder
Examples of CSR
Sustainable resources
Responsible suppliers
Protecting employees
Environmental
Ethical trade
How does CSR effect staff (pros)
draws in staff (recruitment)
lower turnover
qualified and trained
more productivity
How does CSR benefit a business
attract investors
good brand image
more customers
Cons of CSR
costs increase (why? - training, reward)
conflict with shareholders needs
longer lead time
expectations must be met for image/trust
Why is long lead time bad
Lose customers
Why do some disagree with CSR
Profit is the most important focus of a business
Not social issues
Why does shareholders dislike CSR
Increased costs from CSR decreases profit
What are the 4 responsibilities in Carroll’s CSR pyramid
Economic - Legal - Ethical - Philanthropic
What does the pyramid help businesses do?
Focus on profit first, then the law, then ethics and society
example CSR for customers
fair price
reliable service
safe products
example CSR for employees
fair pay
good working conditions
job security
example CSR for suppliers and local community
fair prices
employment opportunity
environment respected
