Defining CSR Flashcards
Name one definition of CSR
Hopkins: CSR is concerned with treating the stakeholders at a firm ethically or in a responsible manner
It is about the fact that if you do the right things for the community, they will do the right things for you (Corucz, Colbert and Wheeler, 2008)
What is corporate citizenship?
Good corporate citizenship is a firm meeting the expectations of all its societal stakeholders to maximise the negative impact on its social and physical environment whilst providing a competitive return to its financial stakeholders.
What is corporate accountability?
the act of being accountable for the stakeholders of an organisation
Sustainable business
A business that has minimal negative impact on the global or local environment - a business that strives to meet the triple bottom line Elkington 1994
Name two key theorists of CSR and their beliefs
Elkington
Friedman
The importance of a definition of CSR
Definition enables us to have a common understanding of a concept or word:
Whilst there is no definition for CSR this is not problematic as it is often referred to as a contested concept (Jacobs 1999) - can be flexible and apply to a lot of things
By not having a definite definition is it hard to set clear targets
A plethora of competing forms and terminology
Range of definitions that all come under the same umbrella
What does responsibility involve?
Business engagement in the CSR agenda was and remains for most companies risk management
General recognition of that companies have responsibilities towards societies as well as towards societies
More than just donating a percentage of its profits good causes
Name some facts about the history of CSR
First attempt to identify CSR internationally was the RIO 1992: the concept and definition was kept very loose
To this date, there are still no causal connections between CSR and CFP (Griffin and Mohon, 1997)
Does the Business Case play down the moral dimension of responsible practice?
In some cases it does die the moral dimension as it promotes that when a company is morally ethical they will be more profitable - although they do this there is no causal link.
Businesses are caught between critics demanding higher levels of csr and outside stakeholders applying pressure to maximise profits > where can the balance be found?
What is the Business case?
The business case was introduced to promote csr
it refers to the underlying rationales and arguments supporting or documenting why the company should accept the CSR cause
