Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

business revision 2018 > sac 3b > Flashcards

sac 3b Flashcards

1
Q

Corporate Social Responsibility

A
  • a commitment by organisations to run their businesses in an ethical manner
  • includes taking responsibility for economic, social and environmental consequences of their activities
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

How ethics and social responsibility fit into operations

A
  • Social and ethically responsible behaviours include doing what is ‘morally right’ and considers the impact of operations on the economic, social and environmental issues.
  • A socially responsible organisation generally has goodwill in the community, has good employees and is often able to have a cost advantage
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

5 areas of CSR

A
  1. Corporate governance and accountability
  2. Sustainability and environments
  3. Ethical treatment of employees
  4. Human rights
  5. Community involvement
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

5 areas of CSR

Corporate governance and accountability

A

a businesses actions and impact on its shareholder, employees, customers and community

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

5 areas of CSR

Sustainability and environments

A

A business is accountable for its impact on the environment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

5 areas of CSR

Ethical treatment of employees

A

Fair pay and conditions, equal employment opportunities, provision of safe workplace, work life balance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

5 areas of CSR

Human rights

A

The use of ethical suppliers and fair trade issues

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

5 areas of CSR

Community involvement

A

Volunteering programs and philanthropy, sponsoring

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Socially responsible operations system

Include processes that:

A

don’t cause any damage to the society that the business operates in

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Socially responsible operations system

they ways they don’t cause any damage

A
  1. Waste minimisation schemes (reduce, reuse, recycle, recover)
  2. safe working conditions
  3. responsible for the environment and social activities that it undertakes
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

United Nations global compact (UN)

A
  • Are a set of benchmarks that a business can follow to be ethically responsible
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

United Nations global compact (UN)

Those that sign up to the compact adopt 10 principles covering (4)

A
  1. Human rights
  2. Labor
  3. Environment
  4. Anti-corruption
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Why is it important for companies to be socially responsible

5

A
  1. Appeals to customers
  2. To gain a competitive advantage
  3. May reduce costs - maximise operations
  4. To establish longevity for our business
  5. Increase market share
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Triple bottom line reporting is

A

When a business reports on its economic results (profits) as well as an assessment on its environmental and social performance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

The three pillars of triples bottom line reporting

A
  1. Profit
  2. Planet
  3. People
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Strategies to maximise social responsibility

Environmental management system and waste minimisation

A
  • A tool to help manage the environmental impact of the business and it’s activities
  • includes a series of policies and practices that focus on environmental issues
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

EMS sets out

environmental management system) (3

A
  1. a plan that included strategies and tactics to meet environmental goals
  2. How environmental performance will be monitored
  3. Integrates environmental management practices in everyday operations
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

To develop an EMS an organisation must …

A

asses its environmental impacts, sets targets to reduce those impacts and plan how to achieve those targets

Is a formally written document

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Social and economic strategies for sustainable operations

A

When businesses have an operations system that incorporates social and ethical responsibility they need to include CSR in all three stages of the operations system

20
Q

Inputs

A
  • Companies may include a purchasing policy which includes environmental sustainability and a social responsibility criteria which is applied when choosing supplies
  • purchase of sustainable inputs will minimize the effect the business has on the natural environment and community
21
Q

Examples of environmentally sustainable input practices (3)

A
  1. Renewable or green energy
  2. Recycled materials
  3. Local suppliers which decreases carbon footprint and reduced transport costs
22
Q

Sustainable Procurement advantages - inputs (3)

A
  1. Reduce impact on the natural environment, landfill and less waste costs
  2. Increased productivity via new technology choices
  3. Improved business reputation
23
Q

Transformation Process

A
  • Businesses that use sustainable operations processes use fewer resources, reduce business costs and increase productivity therefore competitiveness improves
  • Ethical treatment of employees
24
Q

Examples of environmentally sustainable/social responsibility responsible transformation process (3)

A
  1. Reduce, Reuse, Recycle, Recover
  2. Ethical treatment of employees (fair wages)
  3. Retain all production in Australia to ensure Australians are employed
25
Q

Outputs - Social Responsibility and environmental considerations (4)

A
  1. Quality outputs offer value to consumers
  2. Non harmful
  3. Minimal packaging and limited environmental impact
  4. Recyclable/biodegradable options used in package
26
Q

Identify an operations strategy and how this operations strategy will impact CSR?

Waste minimisation (3)

A

Reduction of operating costs through:

  1. Reduced landfill
  2. Reduced use of materials/inputs
  3. Need for special equipment and procedures to handle toxic wastes
27
Q

Identify an operations strategy and how this operations strategy will impact CSR?

Recycling of materials (2)

A

Reduced costs through lower use of materials means:

  1. Improved reputation
  2. Lower landfill costs
28
Q

Identify an operations strategy and how this operations strategy will impact CSR?

Lean manufacturing (4)

A

Improvements in:

  1. Productivity
  2. Quality
  3. Employee motivation through empowerment
  4. competitiveness
29
Q

Identify an operations strategy and how this operations strategy will impact CSR?

Inventory management system (2)

A

Greater efficiency and productivity through:

  1. Reduced waste
  2. Productivity improvements
30
Q

Global issue in the operations management

A
  • global economy has required management to look for resources around the world not just their own country
  • because they can generally buy inputs at a lower price
31
Q

Manufacturing overseas

A

As labour costs in Australia are very high many companies have moved their manufacturing overseas

32
Q

Supply Chain

A
  1. A system of operations, people, activities, information and resources involved in moving a product or service from suppliers to manufacturers and then onto customers
  2. takes natural material and parts and transforms them into finished products
  3. must make sure that it incorporates quality and safety standards
33
Q

Supply chain management

A

meeting consumer demands of goods and services whilst making efficient use of inputs, the production process and the distribution of the finished good

34
Q

Logistics

A

The distribution of products or movements/delivery of materials from one place to another

35
Q

Participants in the global supply chain

(4)

A

organisations must consider the interests and expectations of each party including

  1. Consumers
  2. Producers
  3. Employees
  4. Governments
36
Q

Consumers role

4

A
  1. Purchase our products
  2. Determine the level of demand for our products
  3. Be aware of changing consumer trends
  4. Place extra demand on companies to have good CSR
37
Q

Producers role

3

A
  1. Signed contracts to consolidate relationships
  2. Reliable production and suppliers of materials
  3. Great logistics
38
Q

Employees role

4

A

Management of employees may be difficult due to:

  1. language barriers
  2. Fair wages
  3. Working conditions
  4. Cultural aspects
39
Q

Government’s role

2

A
  1. The legal and government involvement in industries before considering them as part of the global supply chain
  2. Can intervene on how a business is run if it does not adhere to the country’s laws
40
Q

Global supply chain (global sourcing)

Global supply chain is also known as global sourcing which can include one or all of the following.

A
  1. Global sourcing of inputs
  2. Overseas manufacturing/processing
  3. Global outsourcing
41
Q
  1. Global sourcing of inputs
A
  • selecting suppliers from overseas
42
Q
  1. Overseas manufacturing/processing
A
  • when the transformation stage happens overseas
43
Q
  1. Global outsourcing
A
  • when a business/organisation contracts another business (3rd party) to perform some of its role/function
    eg. Telstra call centre in the Philippines
44
Q

Advantages of Global sourcing

A
  • Opportunity to tap into global efficiencies - this may reduce the cost of production, inputs or outputs which improves profit meaning business objectives can be achieved
  • Skills and resources not found in the home nation may be tapped into
  • Job opportunities and economic growth will be provided in disadvantaged areas
45
Q

Disadvatages of Global sourcing

A
  • Hidden costs: time zone and language issues
  • Financial and political risk - if the country you manufacturer in breaks out in civil war it will affect your business
  • Loss of jobs in Australia

business revision 2018 (10 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions