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csr Flashcards

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Sociology 101 flashcards
1
Q

CSR definition

A

promise that a business makes to society while making money. businesses should care about helping society rather than just focusing on making money

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2
Q

challenges of CSR

A
  1. managers face challenges in establishing effective processes to meet the company’s CSR
  2. balancing different responsibilities
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3
Q

define business social responsibility

A

obligation that every business must respect the interest of all its stakeholders

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4
Q

define business ethics

A

moral rules that should guide people working in businesses. it helps people and businesses decide whether a decision is right or wrong, regardless of profitability

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5
Q

principles of corporate citizenship

A
  1. ethical business behavior
  2. stakeholder commitment
  3. community
  4. consumer
  5. employees
  6. investors
  7. suppliers
  8. environment commitment
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6
Q

CSR concepts

A
  1. corporate social responsibility
  2. corporate social responsiveness
  3. corporate social performance
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7
Q

what does corporate social responsibility emphasize

A

obligation and accountability to society

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8
Q

what does corporate social responsiveness emphasize

A

action

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9
Q

what does corporate social performance emphasize

A

outcomes and results

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10
Q

phases of CSR

A
  1. corporate social stewardship
  2. corporate social responsiveness
  3. corporate/business ethics
  4. corporate/global citizenship
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11
Q

what did corporate social stewardship involve

A
  1. acts of charity
  2. managers as public trustees
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12
Q

drivers of corporate social stewardship

A
  1. executive conscience
  2. company image and reputation
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13
Q

policy instruments of corporate social stewardship

A
  1. philanthropic funding
  2. public relations
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14
Q

what did corporate social responsiveness involve

A
  1. social impact analysis
  2. stakeholder mapping and implementation
  3. strategic priority for social response
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15
Q

drivers of corporate social responsiveness

A
  1. social protest
  2. repeated corporate misbehavior
  3. stakeholder pressure
  4. public policy/government regulation
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16
Q

policy instruments of corporate social responsiveness

A
  1. stakeholder strategy
  2. regulatory compliance
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17
Q

when was corporate social stewardship

A

1950s-60s

18
Q

when was corporate social stewardship

A

1960s-70s

19
Q

when was corporate/business ethics

A

1980s-90s

20
Q

what did corporate/business ethics involve

A
  1. foster an ethical corporate culture
  2. recognize common ethical principles
  3. establish an ethical organizational climate
21
Q

drivers of corporate/business ethics

A
  1. technology-driven value changes
  2. human rights pressure
  3. code of ethics
22
Q

policy instruments of corporate/business ethics

A
  1. mission, vision, value statement
  2. CEO leadership ethics
23
Q

when was corporate/global citizenship

A

1990s- present

24
Q

what did corporate/global citizenship involve

A
  1. stakeholder partnerships integrate financial, social, and environmental performance
  2. identifying that globalization impacts the sustainability of the company and the environment
25
Q

drivers of corporate/global citizenship

A
  1. global economic trade
  2. high tech communication networks
26
Q

policy instruments of corporate/global citizenship

A
  1. sustainability reports
  2. NGO dialogue
  3. intergovernmental compacts
27
Q

arguments for corporate social responsibility

A
  1. balance corporate power with responsibility
  2. promote long-term profits for the business
  3. improve stakeholder relationships
  4. enhanced business reputation
28
Q

arguments against corporate social responsibility

A
  1. lowers economic efficiency and profit
  2. impose unequal costs among competitors
  3. impose hidden costs on stakeholders
  4. requires skills that business may lack
29
Q

how does CSR promote long-term profit

A

it fosters a positive reputation which leads to customer loyalty, attracting and retaining skilled employees, higher sales, and minimizes legal and reputational risk

30
Q

how can CSR result in unequal costs among competitors

A

companies that prioritize social and environmental responsibility may have higher expenses compared to companies that prioritize profit

31
Q

what are the 5 stages of global corporate citizenship

A
  1. elementary stage
  2. engages stage
  3. innovative stage
  4. integrated stage
  5. transforming stage
32
Q

features of the elementary stage

A
  1. citizenship is undeveloped
  2. managers are uninterested and uninvolved in social issues
  3. communication with stakeholders is one way. from company to stakeholder
33
Q

how does csr require skills businesses may lack

A

business people have the skills for marketing, accounting, and finance. however, they may lack the skills to address social issues

34
Q

features of the engaged stage

A
  1. companies become more aware of changing public expectations
  2. interact with and listen to stakeholders
  3. top managers become involved
35
Q

features of the innovative stage

A
  1. organizations become more aware that they cannot carry out new commitments
  2. departments begin to coordinate to launch new programs and start reporting their efforts to stakeholders
36
Q

features of the integrated stage

A
  1. companies see the need to build more coherent initiatives
  2. integrated companies may adopt triple-line measures
37
Q

features of the transforming stage

A
  1. highest stage
  2. companies at this stage have visionary leaderships
38
Q

define corporate power

A

the capability of corporations to influence government, the economy, and society

39
Q

define iron law of responsibility

A

in the long run, those who do not use power in a way society considers responsible tend to lose it

40
Q

define social audit

A

a systematic evaluation of an organization’s social, ethical, and environmental performance

citizenship and society (7 decks)

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