essay questions Flashcards
what are the CSR concepts
- corporate social responsibility
- corporate social responsiveness
- corporate social performance
what does CSR emphasize
obligation and accountability to society
what does corporate social responsiveness emphasize
action
what does corporate social performance emphasize
outcome and results
what are the phases of CSR
- corporate social stewardship
- corporate social responsiveness
- corporate/business ethics
- corporate/ global citizenship
drivers of corporate social stewardship
- executive conscience
- company image and reputation
policy instruments of corporate social stewardship
- philanthropic funding
- public relations
what did corporate social stewardship involve
- acts of charity
- seeing managers as trustees
drivers of corporate social responsiveness
- social protest
- stakeholder pressure
- repeated corporate misbehaviour
policy instruments of corporate social responsiveness
- stakeholder strategy
- regulatory compliance
what did corporate social responsiveness involve
- social impact analysis
- strategic priority for social response
- stakeholder mapping and implementation
drivers of corporate business ethics
- code of ethics
- human rights pressure
- religious and ethnic beliefs
- technology-driven value changes
policy instruments of corporate business ethics
- mission/vision/value statements
- CEO leadership ethics
what did corporate business ethics involve
- ethical organizational climate
- ethical corporate culture
- recognizing common ethical principles
drivers of corporate global citizenship
- global economic trade
- high tech communication networks
policy instruments of corporate global citizenship
- sustainability reports
- NGO dialogue
3.
arguments for CSR
- balance corporate power with responsibility
- promote long-term profit for business
- improve stakeholder relationships
- enhanced business reputation
arguments against CSR
- requires skills businesses may lack
- impose hidden costs on stakeholders
- impose unequal costs among competitors
- lowers economic efficiency and profit
how does CSR promote long-term profit
it improves the reputation of the company, can increase customer loyalty and helps them retain and attract skilled employees, leading to higher sales
how can CSR result in unequal costs among competitors
companies that prioritize social and environmental responsibility may have higher expenses than those who prioritize profit maximization
how does CSR require skills businesses may not have
business people have marketing, accounting, and finance skills. however they may not have the capability to address social issues
define CSR
the promise that a business makes to society, while making money. business should care about helping the society and the environment rather than just making profit
define business social responsibility
obligation that every business must respect the interest of all it’s stakeholders