CSR/TSM/SDG Flashcards
An approach whereby businesses conduct their operations in an ethical manner, taking into account the social, environmental, and economic impact of how they operate, and going beyond mere legal compliance.
Corporate Social Responsibility (CSR)
A theory suggesting that managers must meet the needs of a variety of groups (workers, customers, suppliers, communities) who can influence the success of the firm, rather than only focusing on shareholders.
Stakeholder Theory
The efforts and actions taken by a company to reduce its environmental impact, such as recycling, pollution reduction, and sustainable resource management.
Environmental Performance
A form of CSR where the firm integrates social issues into its core strategies, making choices on which social initiatives to focus on for maximizing both social impact and business benefits.
Strategic CSR
A declaration by a company that sets out its core values, such as care for people, innovation, quality, and teamwork, which guide its operations and CSR activities.
Value Statement
The informal or formal approval companies require from government, communities, and other stakeholders to continue conducting their business operations.
License to Operate
CSR activities where companies engage with and support local communities, often through initiatives related to education, skills development, and social inclusion.
Community Involvement
The principle of meeting current needs without compromising the ability of future generations to meet theirs, often a key focus within CSR strategies.
Sustainability
The idea that engaging in CSR activities can provide a business with a competitive edge by differentiating it from competitors and fostering goodwill among stakeholders.
Competitive Advantage through CSR
Policies that ensure fair and ethical treatment of employees, covering areas such as diversity, recruitment, redundancy, and employee involvement.
Ethical Employment Practices
What framework replaced the Millennium Development Goals (MDGs) in 2015?
Sustainable Development Goals (SDGs)(
What are the three core dimensions of sustainable development?
Economic growth, social inclusion, environmental protection
What is the definition of sustainable development according to the Brundtland Commission?
Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Which summit, held in 1992, focused on economic growth, social improvement, and environmental protection?
Rio Earth Summit
What are the five essential elements of SDGs clustered by Ban Ki-Moon?
Prosperity, Peace, Partnership, Planet, People.
