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Corporate Social Responsibility > Lecture 1 & 2 > Flashcards

Lecture 1 & 2 Flashcards

1
Q

compare integration in corporate social responsibility and corporate sustainability

A

CSR activities may not be deeply integrated into core business, whereas sustainability emphasizes integration into business strategies.

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2
Q

compare proactivity in CSR vs sustainability

A

Sustainability goes beyond compliance, actively minimizing negative impacts, while CSR may not always have a proactive stance.

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3
Q

who does CSR target?

A

Targets opinion formers, e.g., media, politicians, and pressure groups

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4
Q

trends in sustainability (6)

A
  1. company-centric focus towards supply chain considerations -> companies are increasingly looking beyond their immediate operations and are considering the entire supply chain.
  2. environmental concerns expanding towards social impact
  3. check the box mentality shifting to making an impact mindset
  4. shift from top-down to bottom-up involvement
  5. from nice to have to need to have
  6. greater involvement of CFOs and CEOs
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5
Q

responsibility levels in hte CSR hierarchy (archie, carrol, chandler) (4)

A
  1. economic responsibility
  2. legal responsibility
  3. ethical responsibility
  4. discretionary responsibility
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6
Q

what’s discretionary responsibility

A

engage in proactive, and strategic actions

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7
Q

key characteristics of discretionary responsibility

A
  • initiatives that exceed legal and ethical obligations
  • voluntary initiatives that aim to benefit company + the society as a whole
    -> example: Unilever’s rural India efforts, Tony Choconely
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8
Q

materiality matrix: x and y axis

A

X Axis -> Significance to Business

Y Axis -> Significance to Stakeholders

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9
Q

if there’s major significance to business, and significant signidicance to stakeholders …

A

medium materialty
(important areas for activity, some disclosure)

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10
Q

major importance to business, and moderate to staheholders…

A

limited materialistic (watch list, voluntary disclosure)

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11
Q

steps of generating a materiality matrix (6)

A
  1. select and assess relevant stakeholders
  2. define a long list of sustainability topics
  3. rank the topics and create a short list
  4. rate the business impact in terms of risk and opportunities
  5. construct a concept of materiality matrix
  6. get sign of by senior management and document the process
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12
Q

triple bottom line approach

A

considering financial (1), social (2), and environmental outcomes (3).

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13
Q

true costs

A

an accounting method that assesses the total financial, social, and environmental impact of a company’s actions, including previously unaccounted external costs.

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14
Q

3 main elements of the sustainability reporting landscape

A
  1. regulations -> eu taxonomy, sustianable finance disclosure
  2. reporting frameworks -> gri
  3. global goals -> SDGs, principles for responsible investment
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15
Q

GRI reporting principles (4)

A
  1. materiality
  2. stakeholder inclusiveness
  3. sustainability context
  4. completeness
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16
Q

completeness

A

reports must cover material topics and their boundaries comprehensively
ensures that the report offers a full and accurate representation of the org.s efforts and their outcomes.

17
Q

sustainability context

A

organizations performance within the broader context of sustainability, considering the environmental, social, and economic aspects.

=> aims to provide a holistic view.

18
Q

stakeholder inclusiveness

A

how the organization has addressed the stakeholders expectations
-> ensures that the report is responsive to stakeholder needs and fosters transparency and engagement

19
Q

GRI Reporting principles for defining report content
(6!!)

A
  1. reliability
  2. accuracy
  3. timeliness
  4. balance
  5. clarity
  6. comparability
20
Q

the 5P’s of SDGs

A
  1. people
  2. prosperity
  3. planet
  4. peace
  5. partnership
21
Q

principles for responsible investment (6)

A
  1. integrate ESGs into decision making
  2. active ownership
  3. disclosure
  4. industry advocacy
  5. collaborative enhancement
  6. transparent reporting
22
Q

dougnut economics

A

suggests two key areas: a social foundation (basic standards for a good life) and an environmental ceiling (limits on human impact). The goal is to stay within this “doughnut,” achieving prosperity while respecting ecological boundaries

23
Q

WEF global risks report

A

annual report by the world economic forum that assesses global risks in terms of LIKELIHOOD and IMPACT

24
Q

value chain control is…

A

overseeing and influencing the sequence of activities organizations use to deliver a product.

25
Q

whats tier 1,2,3?

A

Tier 1: reporting organization, logistics, distributor
Tier 2: supplier, and retailer
Tier 3: material producer, consumer

26
Q

upstream control?

A

managing activities that occur early in the value chain like raw material sources (incl. Supplier management)

27
Q

downstream control?

A

managing activities that occur later in the value chain, including distribution, marketing, and customer interactions.

28
Q

The EU Sustainable Package

A

set of initiatives in the EU that promote sustainability accross various sectors emphasizing social responsibility, social equity and transparant governance

29
Q

drivers of the EU sustainable package (5)

A
  1. ensuring adherence to regulations
  2. implementing sustainable practices to gain a competitive edge & be resilient in the future
  3. exploring innovative approaches
  4. using sustinability to attract and retain talent
  5. cost savings
  6. reputation
30
Q

sustainability assurance

A

providing independent assurance on an organization’s sustainability performance and reporting

31
Q

list 7 roles of a leader

A
  1. networker (engage)
  2. strategist (lead)
  3. coordinator and innitiator
  4. stimulator and connector (challenge)
  5. mentor (empower)
  6. innovator (innovate)
  7. monitor (learn)
32
Q

what exactly should a leader do? (7)

A
  1. engage and grow the network
  2. lead for strategy
  3. support implementation
  4. challenge to inspire and connect
  5. empower others for success
  6. innovate for continuous renewal
  7. learn from reporting
33
Q

think more systematically (carola) (4)

A
  1. events what’s happening?
  2. patterns of behavior
  3. systems structure (how are the parts related, what influences the patterns?)
  4. mental models (what values, assumptions, beliefs shape the system?)
34
Q

balancing the roles- transition dynamics (list 4)

A
  1. inception
  2. first movers
  3. critical mass
  4. institutionalization
35
Q
  1. inception
A

the initial phase where a few visionary organizations embrace sustainability

36
Q
  1. first movers
A

pioneering companies demonstrate the viability of sustainable business models

37
Q
  1. critical mass
A

the tipping point where substantial number of companies adopt sustainable practices

38
Q
  1. institutionalization
A

sustainability becomes embedded in industry norms and practices

Corporate Social Responsibility (7 decks)

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