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csr finals reviewer Flashcards

1
Q

Is all about companies playing their responsible part in society and giving back to society, and a big part of that is fundraising for worthy causes

A

Corporate Social Responsibility

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2
Q

T or F. Companies, customers, and communities can and should thrive together.

A

True

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3
Q

It is a management concept whereby companies INTEGRATE social and environmental concerns in their business operations and interactions with their stakeholders.

A

Corporate Social Responsibility

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4
Q

T or F. The goal of CSR is to make efforts to improve society and contribute towards SUSTAINABLE DEVELOPMENT.

A

True

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5
Q

T or F. CSR is also known as CORPORATE CONSCIENCE or CORPORATE CITIZENSHIP.

A

True

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6
Q

T or F. CSR describes the initiatives run by a business to evaluate and take responsibility for their IMPACT on a number of issues.

A

True

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7
Q

T or F. CSR is not a self-regulatory business plan.

A

False. It is a self-regulatory business plan that is focused on achieving economic, social, and environmental benefits for all stakeholders involved.

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8
Q

Why does CSR encourage businesses to conduct in an ethical manner and work towards having a more positive impact on society?

A

To ensure SUSTAINABLE GROWTH.

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9
Q

This four-part definitional framework for CSR encompasses the economic, legal, ethical, and philanthropic expectations that society has of organizations.

A

Carroll’s CSR Pyramid

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10
Q

This responsibility requires a business to be able to sustain itself through being profitable and incentivizing owners and shareholders.

A

Economic Responsibility

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11
Q

This responsibility requires businesses to comply with laws and regulations as a condition of operating.

A

Legal Responsibility

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12
Q

This responsibility requires businesses to operate and conduct their affairs in an ethical fashion.

A

Ethical Responsibility

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13
Q

This responsibility is expected by the public. It also embraces a business’ voluntary and discretionary giving and participating in social activities.

A

Philantrophic Responsibility

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14
Q

A type of CSR that requires companies to focus their efforts towards reducing their impact on the environment through cutting down its greenhouse gas emissions and waste.

A

Environmental CSR

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15
Q

A type of CSR that focuses on ensuring that all stakeholders in a business receive fair treatment, from employees to customers.

A

Ethical CSR

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16
Q

A type of CSR that goes beyond simply operating as ethically as possible and involves actively bettering society. It also serves as a way of representing a company’s commitment
to society, demonstrating that they value the community beyond simply providing a workforce or source of revenue.

A

Philanthropic CSR

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17
Q

A benefit of CSR that increases a brand recognition and contributes to a better public image. Companies that appreciate and respect consumers are favored, encouraging customer loyalty.

A

Better company image and customer loyalty

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18
Q

A benefit of CSR that can lead to business reviewing and evaluating their current processes, with many leading to the discovery of ways that the business could be improved.

A

Identifying areas for improvement

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19
Q

A benefit of CSR that creates a sense of community and bonding amongst employees, engaging them and encouraging positive relations.

A

Increased employee engagement and satisfaction

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20
Q

A benefit of CSR that demonstrates a dedication to improving communities that attracts valuable and engaged employees.

A

Attracts talent and investors

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21
Q

What are the three benefits of CSR to CHARITIES?

A
  1. More volunteers
  2. More funding and exposure
  3. Stable parterships
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22
Q

A trend in CSR that demands the disclosure of companies to reveal what’s under the hood of their businesses.

A

Increased Transparency

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23
Q

A trend in CSR wherein companies invest in green technologies, reducing their reliance on nonrenewable resources, and looking to more sustainable inputs to do business.

A

Green Technology

24
Q

A trend in CSR that recognizes the value of local markets and supply chains.

A

Global Companies Acting Locally

25
Q

A trend in CSR that recognizes the inequalities in pay and economic burdens of employees.

A

Diversity and Inclusion

26
Q

One of the six steps in building a sustainable CSR that focuses on using the company’s own strengths, research, and knowledge to align it with their chosen CSR strategy.

A

Build your strategy around your company’s core competencies.

27
Q

One of the six steps in building a sustainable CSR that takes note of a social or environmental issue that their customers care about to gain brand loyalty.

A

Recognize issues that matter to your customers.

28
Q

One of the six steps in building a sustainable CSR that values creating a positive environment for employees, therefore, reducing attrition cost.

A

Develop CSR initiatives that make your employees proud.

29
Q

One of the six steps in building a sustainable CSR that develops an organized framework for REPORTING the efforts of strategic priorities for the business investors.

A

Measure the ROI of your CSR efforts for the C-suite and your investors.

30
Q

One of the six steps in building a sustainable CSR that drives a company to define its own innovative definition of being a responsible company.

A

Expand your company’s definition of CSR.

31
Q

One of the six steps in building a sustainable CSR that requires a company to adapt its CSR to the rapidly changing issues to remain relevant and timely.

A

Be prepared for rapid response to current events and social movements.

32
Q

One of the eight steps in the implementation of CSR that speak to and understand all stakeholders’ concerns; leadership, employees, consumers, professional organizations or unions, local communities, or environmental groups.

A

Define the concept.

Define or redefine what CSR means to your business, and make sure the entire business is on the same page. Once you know everyone understands what CSR is, then you can start discussing it without bias or misconceptions.

33
Q

One of the eight steps in the implementation of CSR that focuses on researching the benefits of CSR. It also finds some example businesses that have profited from having a successful CSR plan in place.

A

Understand the benefits.

34
Q

One of the eight steps in the implementation of CSR that requires budget and human resources approval.

A

Get project approval.

35
Q

One of the eight steps in the implementation of CSR that requires the creation of goals and KPIs that showcase your strategy.

A

Set project goals.

36
Q

One of the eight steps in the implementation of CSR that includes the full review of any CSR initiative you are currently running with your company.

A

A current CSR analysis.

37
Q

One of the eight steps in the implementation of CSR that includes the researching of social and environmental initiatives that is a good fit for your company.

A

Do your initiative research.

38
Q

One of the eight steps in the implementation of CSR that involves the launching of the CSR campaign effectively and clearly to the stakeholders.

A

Launch your CSR campaign.

39
Q

One of the eight steps in the implementation of CSR that strives to maintain your CSR campaign through the KPIs and the goals you have set.

A

Manage your program to success.

40
Q

It refers to the values and ethical behaviors, processes, procedures, culture, ways of doing and being that ENSURES high standards of performance, economy, effectiveness, efficiency, quality, and satisfaction.

A

Ethical Governance

41
Q

It is anything that falls below minimum standards for a business code of conduct. This includes any behaviors that are widely accepted as being morally wrong and lead to the mistreatment of people, animals, and environment.

A

Unethical Business Practice

42
Q

One of the ten unethical business practices towards customers that describes the outright lying of companies to mislead them through fake reviews.

A

False Product Claims

43
Q

One of the ten unethical business practices towards customers that describes the slipping of undesirable requirements of businesses in the user agreements.

For instance, you may be allowing a company to sell your data to a third party or you could be giving a social media platform the rights to your content.

A

Hidden Terms in User Agreements

44
Q

One of the ten unethical business practices towards customers that is the intentionally mismanaging of accounts that can make a company seem more profitable than it really is. This also hurts investors, who may purchase shares in the company only to end up losing when the truth is revealed.

A

Unethical Accounting

45
Q

One of the ten unethical business practices towards employees that subjects them to unsafe conditions.

A

Poor Working Conditions

46
Q

One of the ten unethical business practices towards employees that subjects them to sexual abuse.

A

Sexual Harassment

47
Q

One of the ten unethical business practices towards competitors which describes the spread of false information against them.

A

Defamation

48
Q

One of the ten unethical business practices towards competitors that leaks trade secrets intentionally or due to negligence.

A

Trade Secret Misappropriation

49
Q

One of the ten unethical business practices towards competitors that bribes government officials or industry leders to secure better deals through money, political support, and/or better deals on its products and services.

A

Bribery

50
Q

One of the ten unethical business practices which is legal but unethical that sells data of its consumers to advertisers who want a database they can market to.

A

Selling Customer Data

51
Q

One of the ten unethical business practices which is legal but unethical that describes the making of investment structures so complex that companies are able to swindle investors while staying within the law.

Examples of unethical business practices like this include credit default swaps, mortgage-backed securities, hedge funds, and special investment vehicles.

A

Complex Securities

52
Q

Is any illegal action by a person in a position of trust to gain a personal benefit.

A

Corporate Malpractice

53
Q

True or False. Corporate Malpractice is a matter of culture, therefore it cannot be systemic.

A

False. It is a matter of corporate culture so it can be systemic. This is why it presents as a real challenge to business leaders.

54
Q

What are the ten red flags of corporate malpractice?

magkabisado k n lng tatloh beh para sure k na jn

A
  1. Selfishness
  2. Greedy behavior
  3. Arrogant behavior
  4. Unnecessary risk-taking
  5. Lack of trust
  6. Overly strong self-orientation (language is i/me/mine, not you/we/our).
  7. Unethical practices
  8. Failing to use all of the resources available
  9. Being careless or negligent
  10. Creating false dependencies, therefore, failing to comply with company processes and procedures.
55
Q

What are the two levels to malpractice prevention?

A
  1. Culture (taking accountability as a leader & openly discussing ethical matters with the organization)
  2. Procedure (clear and standardized definition and policies of corporate malpractice)
56
Q

In 2007, the Philippines adopted this act to combat corrupt behavior and improve its frontline public service offerings to its citizens.

A

The Anti-Red Tape Act (ARTA)

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