CSR & Sustainability Flashcards
1
Q
Consequences of ethically questionable strategies
A
- Civil fines and stockholder lawsuits
- Image and PR hits
- Stock price drops (investors lose confidence)
- Criminal indictments and convictions
2
Q
Why should an organisation’s strategy be ethical?
A
- Moral case: stakeholder benefits
- Business case: shareholder benefits (competitive advantage)
3
Q
CSR strategy (factors)
A
- Workforce diversity
- Better the life quality of the community/society at large
- Protect and sustain environment
- Employee wellbeing (good working conditions)
- Operate honourably and ethically
4
Q
CSR pyramid
A
- Philanthropic responsibilities
- Ethical responsibilities
- Legal responsibilities
- Economic responsibilities
5
Q
Triple bottom line
A
Goal: excellence in 3 performance dimensions (three pillars)
- Economic (Profit)
- Environmental (Planet)
- Social (People)
6
Q
The business case for CSR
A
- Reputation and buyer patronage
- Reduced risk of reputation-damaging incidents
- Enhanced employee recruiting and workforce retention
- Revenue enhancement due to innovation in support of sustainability
- Long-term interests of shareholders
