Chapter 5 Flashcards
(13 cards)
a management concept where companies integrate social and environmental concerns in their business operations and interactions with their stakeholders.
Corporate Social Responsibility
Benefits of CSR
- Enhance relationship with stakeholders
- Access to funding opportunities
- Differentiate yourself from competitors
- Save money from energy and operating cost
- Increase customer retention
Does good ethics mean good business?
- Treat you employees well
- Be honest in all your vusiness dealings
- Back up your products and services
- Be socially responsible
Common csr initiatives
- Actions to protect the environment
- Actiones to creat work environment that increases employees quality of life
- Actions to build diverse workforce
How these three types of responsibility might be seen in business
- Is there a duty not to cause harm?
- Is there a responsibility to prevent harm?
- Is there a responsibility to do good?
Different types of responsibilities
- Duty or obligation
- Good Samaritan
- Volunteering and charitable work
Models of CAR
- Philanthropic Model of CSR
- Social Web Model of CSR
- Integrative Model of CSR
Refers to a company’s or an indivudal dispensing or receiving aid from funds set aside for humanitarian purposes.
Philanthropic Model of CSR
Responsibility to ones staff, clients, stakeholders , and community.
Social Web of CSR
Cause and effect of actions, best and beneficial for the society .
Integrative model of csr
Helps explain the social, ethical, legal, and economic responsibilities by which a business should operate
Carrolls Pyramid of csr
Carroll’s Pyramid of csr
- Economic responsibility
- Legal Responsibilities
- Ethical Responsibilities
- Philanthropic Responsibilities
