week 12: CSR Flashcards
Corporate social responsibility (CSR)
how orgnaizations balance operations with economic, social, and environmental responsiblities. Cover all interests of stakeholders, trippel bottom line, can be integrated into the strategic plan, CSR vs CRM
Trippel bottom line
People → social impact
Planet → environmental impact
Profit → economic impact
CSR pyramid
Top:
Philanthropic responsibilities
Ethical responsibilities
Legal responsibilities
Economic responsibilities
Bottom
Philanthropic responsibilities
Be a good corporate citizen
Contribute resources to the community
Improve quality of life
Ethical responsibilities
Be ethical
Obligation to do what is right, just, and fair
Avoid harm
Legal responsibilities
Obey the law
Law is society’s codification of right and wrong
Play by the rules of the game
Economic responsibilities
The foundation upon which all others rest
social impacts
Change felt by the people in a community
Very broad
Difficult to define
Difficult to measure
Examples:
Sport participation
Sense of community
Community pride
environmental impacts
Changes to the natural environment caused by sport impacts of the environment
Changes to sport caused by climate change sport ecology
Examples:
Energy-efficient upgrades to facilities
Recycling promotion and programs
economic impacts
Monetary
Internal
External
Examples
Internal → generating a profit
External → tourism spending
Impacts of CSR
- social impacts
- environmental impacts
- economic impacts
Benefits of CSR: the organization
Improved brand image and reputation
Enhances customer loyalty
Increases sales and profits
Efficient and satisfied HR base
Improved productivity and quality
Better decision-making and risk management
Benefits of CSR: the community
Greater profile of community causes
Financial investment
Increased social interaction
Stakeholder commitment and development
CSR strategies
- Labour relations
- Environmental management and sustainability
- Community relations
- Philanthropy
- Diversity and equity
- Governance
