CSR Flashcards
Consumerism
Movement that pressures businesses to consider consumer needs and interests
Sustainable Development
Operating business in a manner that minimizes pollution and resource depletion, ensuring that future generations will have vital resources
Consumer rights
Right to buy safe products
Right to be informed
Right to choose which products to buy
Right to be heard
Discrimination
Denial of opportunities to individuals based on some characteristic that has no bearing on their ability to perform a job
Affirmative action
Activities undertaken by businesses to recruit and promote members of groups whose economic progress has been hindered through either legal barriers or established practices
Exit mechanisms for stakeholders
Leave market
Leave company
Complete disconnect from company
Voice mechanisms for stakeholders
Social media
Strike
Protest
Businesses role in protecting environment
Huge role because they use all the resources
Reduce, reuse, recycle
Cap and trade
Trend toward sustainable development
Cap and trade
Environmental policy that gives companies some freedom in addressing the environmental impact of specified pollutants, by either reducing emissions to meet a designated cap or buying allowances to offset excess emissions
Minimalist CSR
Only responsibility is pay taxes and obey law
Legally provides benefits to society
Should businesses make social policy
Defensive CSR
CSR in response to social pressure (NGOs)
Cynical CSR
Businesses engage in CSR for PR only
Don’t actually do good
Dishonest
Proactive CSR
Businesses contribute to society out of a belief that they have an obligation to do so
Corporate Social Responsibility
Idea that a business has obligations to society beyond the pursuit of profits and taking into account the interests of stakeholders because it benefits society
Stakeholder Groups
Consumers Employees Surrounding Communities Stockholders Suppliers
