Section A Flashcards
ISO 26000:2010 provides companies with guidance for being socially responsible and covers these topics:
environment, consumer issues, labor practices, human rights, fair operating practices, and community involvement and development.
Lagging economic indicators include
the average duration of unemployment, changes in company profits, and outstanding business and commercial loans
The Green SCOR model uses the following attributes:
costs, asset management, flexibility, responsiveness, and reliability.
The components of the triple bottom line
economic or financial performance (first bottom line), societal issues (second bottom line), and environmental issues (the third bottom line). Environmental issues and efforts like resource usage, sustainable and safe production processes, reverse logistics, etc. are tangible and can be measured usually over a few year period.
The labor-related principles of the United Nations Global Compact include
eradicating child labor, employment and occupation discrimination, and forced or mandatory labor. It also encourages businesses to recognize the right to collective bargaining.
The U.S. Department of Transportation identifies these four characteristics of concern due to health and U.S. EPA requirements:
corrosivity, ignitability, toxicity and reactivity.
Microeconomics focuses on the decisions that businesses and people make in terms of
resource allocation and prices of products and services. It hones in on supply, demand, and other factors that impact price levels for certain firms in specific industry sectors. By taking micro factors into consideration, a company can determine how to optimize its production and capacity in order to lower its prices and be more competitive.
ISO 14000
a series of environmental standards that help companies minimize harmful effects on the environment and improve environmental performance.
