LO4

Question 1

What does CSR stand for?

Answer 1

Corporate Social Responsibility

Question 2

What does CSR mean?

Answer 2

Make business aware of its social and environmental impact

Question 3

What does CSR involve? C

Answer 3

Community projects
- Sponsor, run, support community events
- Promote themselves, positive reputation, give back to local community
E.g. Saints in the community which is a professional local football club promoting local football for people to join

Question 4

What does CSR involve? S

Answer 4

Sustainability and environmental awareness
- Reduce environmental and carbon footprint as it is becoming more important
E.g. NFL Superbowl hiring local partners, improving waste management, greenhouse gas reduction etc to reduce carbon footprint

Question 5

What does CSR involve? R (1)

Answer 5

LAWS AND LEGISLATIONS
- Must adhere to meet certain laws and legislations (won’t get fined and keep reputation)
E.g. Nike using underage children in sweatshops and not paying them enough gave them a bad reputation

Question 6

What does CSR involve? R (2)

Answer 6

Reputation
- Follow all areas of the CSR = better reputation, attract better staff and customers, more successful
E.g. Nike lost reputation because of sweatshop and underage children allegations

Question 6

What can a sustainability report help?

Answer 6

• Set goals
• Manage change more effectively

Question 7

Why is CSR important for the business? (4 C’s, 4 M’s and 2 others)

Answer 7

4 C’s
- Customers increasingly focused on it
- Correct thing to do ethically
- Can be a regulatory requirement
- Commercial success increases
4 M’s
- More access to funding
- More target audience reached
- Marketing tool/strategy
- Meet social+community obligations
2 others
- Improves reputation
- Develop positive corporate image

Question 7

What are the 2 types of sustainability you need to consider?

Answer 7

Environmental and financial

Question 8

Corruption - Cheating
Use of illegal equipment

Answer 8

2018 Australia cricket team vs South Africa using sandpaper to make the cricket ball swing more
- Cameron Bankcroft, David Warner and Steve Smith

Question 9

Corruption - Cheating
Foul play

Answer 9

Maradona hand of God
- Clear handball against England in 1986 to win the game

Question 10

Corruption - Cheating
Blood doping

Answer 10

Lance Armstrong was first accused in 2005 and found out in 2012

Question 11

Corruption - Breaking financial regulations
Tax avoidance/evasion

Answer 11

Mike Tyson avoided paying over $57 million over the span of his career

Question 12

Corruption - Breaking financial regulations
Vote rigging for major tournament

Answer 12

Russia 2018 World Cup were suspected of buying votes to host

Question 13

Corruption - Breaking financial regulations
Salary caps not being kept to

Answer 13

Saracens rugby club in 2016/17 overspent their salary caps by over £1.1 million