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CSR Week 1-5 > Week 1-5 > Flashcards

Week 1-5 Flashcards

1
Q

Define CSR

A

Voluntary activities undertaken by a company to operate in a economic, social and environmental manner

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2
Q

What is the significance of the 14th amendment?

A

Extended to businesses giving them human rights and seen as legal “persons”

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3
Q

When did PR and corporate philanthropy emerge?

A

The 70’s. Corporations started to implement CSR systems instead of putting out fires.

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4
Q

How did Theodore Roosevelt impact CSR?

A

Gave rise to new values:

  • Conservation
  • Urban sanitary conditions
  • Labour Laws
  • Protecting public interest
  • Introduced legislation to regulate corporations
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5
Q

What is the two paradigm 80’s clash?

A
  • 1981-1989 clash between stakeholders and stockholders

- Shift to favour less government involvement and more “pro business” agendas, favouring stakeholders.

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6
Q

How are corporations considered legal persons and what does this mean for CSR?

A
  • Legal independence allows shareholders to escape legal repercussions that the company faces
  • It is responsible and accountable like a person
  • It is perpetual - surviving even when its founders pass away
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7
Q

What is the shareholder role in a public company?

A

-Shareholders elect the board of directors. The board is in charge of operations and management, influencing the company.

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8
Q

What happens when a company goes public?

A
  • Shares increase
  • Shareholders increase
  • Original shareholders own less of the company
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9
Q

What are 3 approaches to CSR?

A
  • Corporate Social Responsibility
  • The triple bottom line
  • Stakeholder Theory
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10
Q

What is Corporate Social Responsibility theory?

A

4 obligations:

  • Economic, required to make money for survival.
  • Legal, adhering to rules and regulations
  • Ethical, doing whats right
  • Philanthropic
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11
Q

The Triple Bottom Line

A

The sweet spot between: Environmental, social and economic
-Results individually reported
-All 3 need results
PEOPLE, PLANET, PROFIT

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12
Q

Stakeholder Theory

A

Mirror image of CSR - Starts with the world

-Lists those affected by the companies actions and believe they should direct and participate in the organization

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13
Q

What is the CSR Triangle?

A

Economic - Required to make money to survive
Legal - Adhering to rules and regulations
Ethical - Doing whats right, not required
Philanthropic - Company gives something away

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14
Q

Arguments in favour of CSR - Moral Requirement

A
  • Corporations are involved in a social world
  • They have an obligation to resolve social problems
  • They rely on more than shareholders to be successful, so are responsible for the protection of those things
  • When businesses cause problems, they’re obligated to participate in their solution
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15
Q

Arguments in favour of CSR - Externality argument

A

Externality: The cost of a good or service not accounted for in the price

  • Corporation owning a polluting factory gets the full money of the sales but doesn’t pay for the full “cost”
  • Externalities are not always negative
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16
Q

Arguments in favour of CSR - The enlightened self-interest argument

A
  • Businesses take on broad responsibilities because public generosity benefits the company
  • Corporations that are seen as socially engaged may be rewarded with more satisfied customers
  • Can hire top-notch employees
  • Organizations with strong regulations can hold off imposing government regulations
17
Q

What makes a strong CSR vision?

A
  • A compelling description of the future CSR position
  • Inspirational and achievable
  • How you see events unfolding over 10 - 20 years
  • Contains aspirations that are broad and forward thinking
18
Q

What isn’t a sustainability plan?

A
  • “green strategy” (greenwashing)

- Sustainability is not philanthropy

19
Q

What IS a sustainability plan?

A
  • Focus on social change
  • Long-term thinking
  • 4 pillars: Economic, social, environmental, cultural
20
Q

Sustainability is:

A
  • A business strategy that is integrated with core business objectives and core competencies
  • Designed to create business AND positive social change
  • Embedded in day-to-day business culture and operations
21
Q

Proven Benefits of CSR

A
  1. HR and Talent management
  2. Reputation and branding
  3. Operational and cost saving
22
Q

What is STaR?

A

-Trends in Society, Technology and Respources

23
Q

What is STaR mapping?

A

-Environmental Scan

24
Q

Why is STaR mapping important?

A
  • Builds strategy for sustainability
  • Requires focus on external awareness and internal capacity
  • Answers:
    1. Do you what whats happening
    2. Are you prepared to respond?
25
Q

3 parts to STaR mapping research:

A
  1. Read as much as you can
  2. Investigate changes in your company
  3. Talk to outsiders to get different perspectives
26
Q

4 common characteristics of society:

A
  1. A sense of place
  2. Common form of governance
  3. A common language
  4. A common culture
27
Q

Mapping changes in society

A

Every business is in the boundaries of different societies

-Business must take actions to strengthen society

28
Q

3 common characteristics of technology:

A
  1. Requires design
  2. Value dependent
  3. Shapes society, society innovates technology
29
Q

Mapping resources

A
  • Natural and human assets to accomplish tasks
  • Makes society and technology work
  • Limited
  • Natural resources are depleting

CSR Week 1-5 (1 decks)

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