✔️ [Workplace] CSR Flashcards
Economic, social, and environmental impact metrics used to determine an organization’s success.
applies the 3 Ps principle of sustainability (people, planet, profits), arguing that the environmental and social costs and benefits generated by an organization should be considered as well.
Triple bottom line
System of rules and processes set up by an organization to ensure its compliance with local and international laws, accounting rules, ethical norms, internal codes of conduct, and other standards.
Governance
Practice of purchasing and using resources wisely by balancing economic, social, and environmental concerns, with the goal of securing the interests of present and future generations.
Sustainability
State of being in accordance with all national, federal, regional, and/or local laws, regulations, and/or other government authority requirements applicable to the places in which an organization operates.
Compliance
Set of behavioral guidelines that an organization expects all of its directors, managers, and employees to follow to ensure appropriate moral and ethical business standards.
Ethics
Varying ways an organization can create value, looking beyond traditional profit measures of revenue and expenses; includes such areas as philanthropy, volunteerism, corporate-sponsored community programs, social change, sustainability, corporate governance, employee rights, and workplace safety.
CSR
CSR Strategic Process
1- Executive/stakeholder buy-in
2- Assessment
3- Infrastructure creation
4- Implementaion
5- Measure, report, evaluate
6- Reassessment and revision
Porter and Kramer CSV
Corporate Shared Value
“Creating Shared Value,” Michael Porter and Mark Kramer introduce the concept of “shared value” to resolve what have been viewed as conflicting sets of values—corporate financial goals on the one hand and societal and environmental concerns on the other.
TO CREATE SHARED VALUE
This enable meaningful and consistent comparisons of organizations’ sustainability performance.
The GRI Sustainability Reporting Standards
that place where an action can fulfill expectations in all three categories. It benefits people, the environment, and the organization’s budget.
Sustainabilty sweet spot
Compliance and ethics issues often overlap in areas including (bb)
🔐 Compliance and ethics issues often overlap in areas including employments rights, the enviroment, consumer interests, child welfare, corporate disclosure and transparency, conflict of interest, corruption, bribery, maintaining records,, discrimination, and so on. These issues span entire orgs and can govern organizational conduct even across jurisdictional lines
Good governance (bb)
🔐 Good governance is the outcome of a thoughtful assessment of an enterprise’s legal, ethical, and civic obligations to the communitites it serves and the development of systems that support fulfillment of these obligations
What sustainability requies (bb)
🔐 Sustainability requires that the org’s values be defined by a broader definition of stakeholders. Stakeholders are all those affected by the org’s social, enviromental, and economic impact - shareholders, employees, customers, regulator, and local communities
A sustainable organization is also more likely to form alliances and partnerships with ….
A sustainable organization is also more likely to form alliances and partnerships with outside stakeholder groups, including nongovernmental organizations (NGOs), community organizations, government agencies, and other companies
How the triple bottom line can be viewed (bb)
🔐 The triple bottom line can be viewed as the performance measurement of an organization pursuing a strategy of CSR or sustainability (the terms are sometimes used interchangeably); its goal, then, is to achieve a positive ROI (return on investment) in each of the three areas. It can also serve as an organizing principle for a scorecard or checklist of measures for evaluating whether and/or how to pursue a given project so as to meet sustainability goals.
