Question 1

What is CSR?

Accepted Answer

Corperate social responsibility is defined as the duty of a company's management to work in the best interests of the society it relies on for its resources, to advance the welfare of society, and to act as a good global citizen through its policies.

Question 2

What forms does CSR take?

Accepted Answer

- Making charitable donations - Treating employees ethically - Being environmentally conscious - Ensuring safe working environments - Sponsoring local sports teams - Creating and promoting diverse workplaces

Question 3

Benefits of CSR?

Accepted Answer

- Companies use CSR as marketing tool. Many educate consumers - Being socially responsible dissuade governments from implementing regulations that might interfere with businesses - Companies can attract and retain excellent employees if they have solid CSR practices

Question 4

Criticisms of CSR?

Accepted Answer

- Being socially responsible costs companies money, which detracts from the amount of profit a company can earn. - Companies spend valuable time and employee on CSR, and could concentrate on maximizing shareholders' wealth, and demonstrate responsibility by obeying laws and paying taxes. - Good corporate practices can be used to distract customers from problems a company may be creating. - Companies may use CSR to enhance their reputation with domestic consumers, but may not act ethically in other countries.

Question 5

Who are primary stakeholders?

Accepted Answer

Customers, Compeititors, Employees, Management, Creditors/Banks, Suppliers, Frieght Forwarders, Foreign and Domestic Governments, Labour Unions, Shareholders, Distributors. They hold the most power.

Question 6

Who are secondary stakeholders?

Accepted Answer

Communities, Political Parties, Special Interest Groups, NGOs, Courts, The Media, Educational Institutions, Religious Groups, Professional or Trade Associations

Question 7

Environmental issues from IB?

Accepted Answer

Pollution, Resource depletion

Question 8

What are sweatshops, and the concerns with sweatshops?

Accepted Answer

Factories in underdeveloped and developing countries where the employees work in unsafe environments, are treated unfairly, and have no chance to address these conditions.

Question 9

What does corporate corruption refer to?

Accepted Answer

involvement in illegal activities to further one's business interests.

Question 10

What does dumping mean in an international business context?

Accepted Answer

selling products in a foreign country below the cost of production or below the price in the home country. Used to dump excess products in its home country without affecting home country.

Question 11

What is microcredit?

Accepted Answer

granting very small loans to spur entrepreneurship, ex. Kiva.

Question 12

Two Cs of International Marketing?

Accepted Answer

1. Consumer (demographic information) 2. Competition (direct and indirect, page 209)

Question 13

Four Ps of Marketing?`

Accepted Answer

1. Product 2. Place 3. Price 4. Promotion

Brainscape's Knowledge GenomeTM

CSR, Primary and secondary stakeholders, Ethical issues, the 4 P's and two C's of international marketing Flashcards

Brainscape's Knowledge Genome^TM