Lesson 6 Flashcards
is an ethical framework that suggests that an entity, be it an organization or an individual must act for the benefit of society at large.
Social Responsibility
refers to a business practice that involves participating in initiatives that benefit society.
Corporate Social Responsibility
steps that they can take to reduce carbon footprints.
Environmental
practices social responsibility by donating to national and local charities.
Philanthropy
by treating employees fairly and ethically.
Ethical Labor Practices
resources spent by companies to promote a specific cause benefit society on many levels
Environmental Cause Promotions
a marketing campaign initiated by a business that highlights a positive correlation between the business’s sales and the amount of contribution to support a specific cause.
Cause-related Marketing
Businesses promoting social causes such as healthy eating, caring about parents, quitting smoking, etc.
Corporate Social Marketing
involves businesses donating substantial amounts of money or company products to support specific causes.
Corporate Philanthropy
Businesses engaging their employees to work in the community sector for a specific number of hours on a voluntary.
Community Volunteering
engage fair trade when dealing with suppliers and sustaining ethical business norms and practices
Socially Responsible Business Practices
- Carrying business with moral and ethical standards
- Prevention of environmental pollution
Society
- Obey Rules and Regulations
- Regular Payment of Taxes
Government
- to ensure a reasonable rate of return over time
- to build the reputation and goodwill of the company
Shareholders
- to provide a healthy environment
- to grant regular and fair wages
Employees
- supplying the quality standards
- to grant regular and fair wages
Consumers
