csr

Question 1

CSR definition

Answer 1

promise that a business makes to society while making money. businesses should care about helping society rather than just focusing on making money

Question 2

challenges of CSR

Answer 2

1. managers face challenges in establishing effective processes to meet the company’s CSR
2. balancing different responsibilities

Question 3

define business social responsibility

Answer 3

obligation that every business must respect the interest of all its stakeholders

Question 4

define business ethics

Answer 4

moral rules that should guide people working in businesses. it helps people and businesses decide whether a decision is right or wrong, regardless of profitability

Question 5

principles of corporate citizenship

Answer 5

1. ethical business behavior
2. stakeholder commitment
3. community
4. consumer
5. employees
6. investors
7. suppliers
8. environment commitment

Question 6

CSR concepts

Answer 6

1. corporate social responsibility
2. corporate social responsiveness
3. corporate social performance

Question 7

what does corporate social responsibility emphasize

Answer 7

obligation and accountability to society

Question 8

what does corporate social responsiveness emphasize

Answer 8

action

Question 9

what does corporate social performance emphasize

Answer 9

outcomes and results

Question 10

phases of CSR

Answer 10

1. corporate social stewardship
2. corporate social responsiveness
3. corporate/business ethics
4. corporate/global citizenship

Question 11

what did corporate social stewardship involve

Answer 11

1. acts of charity
2. managers as public trustees

Question 12

drivers of corporate social stewardship

Answer 12

1. executive conscience
2. company image and reputation

Question 13

policy instruments of corporate social stewardship

Answer 13

1. philanthropic funding
2. public relations

Question 14

what did corporate social responsiveness involve

Answer 14

1. social impact analysis
2. stakeholder mapping and implementation
3. strategic priority for social response

Question 15

drivers of corporate social responsiveness

Answer 15

1. social protest
2. repeated corporate misbehavior
3. stakeholder pressure
4. public policy/government regulation

Question 16

policy instruments of corporate social responsiveness

Answer 16

1. stakeholder strategy
2. regulatory compliance

Question 17

when was corporate social stewardship

Answer 17

1950s-60s

Question 18

when was corporate social stewardship

Answer 18

1960s-70s

Question 19

when was corporate/business ethics

Answer 19

1980s-90s

Question 20

what did corporate/business ethics involve

Answer 20

1. foster an ethical corporate culture
2. recognize common ethical principles
3. establish an ethical organizational climate

Question 21

drivers of corporate/business ethics

Answer 21

1. technology-driven value changes
2. human rights pressure
3. code of ethics

Question 22

policy instruments of corporate/business ethics

Answer 22

1. mission, vision, value statement
2. CEO leadership ethics

Question 23

when was corporate/global citizenship

Answer 23

1990s- present

Question 24

what did corporate/global citizenship involve

Answer 24

1. stakeholder partnerships integrate financial, social, and environmental performance
2. identifying that globalization impacts the sustainability of the company and the environment

Question 25

drivers of corporate/global citizenship

Answer 25

1. global economic trade 2. high tech communication networks

Question 26

policy instruments of corporate/global citizenship

Answer 26

1. sustainability reports 2. NGO dialogue 3. intergovernmental compacts

Question 27

arguments for corporate social responsibility

Answer 27

1. balance corporate power with responsibility 2. promote long-term profits for the business 3. improve stakeholder relationships 4. enhanced business reputation

Question 28

arguments against corporate social responsibility

Answer 28

1. lowers economic efficiency and profit 2. impose unequal costs among competitors 3. impose hidden costs on stakeholders 4. requires skills that business may lack

Question 29

how does CSR promote long-term profit

Answer 29

it fosters a positive reputation which leads to customer loyalty, attracting and retaining skilled employees, higher sales, and minimizes legal and reputational risk

Question 30

how can CSR result in unequal costs among competitors

Answer 30

companies that prioritize social and environmental responsibility may have higher expenses compared to companies that prioritize profit

Question 31

what are the 5 stages of global corporate citizenship

Answer 31

1. elementary stage 2. engages stage 3. innovative stage 4. integrated stage 5. transforming stage

Question 32

features of the elementary stage

Answer 32

1. citizenship is undeveloped 2. managers are uninterested and uninvolved in social issues 3. communication with stakeholders is one way. from company to stakeholder

Question 33

how does csr require skills businesses may lack

Answer 33

business people have the skills for marketing, accounting, and finance. however, they may lack the skills to address social issues

Question 34

features of the engaged stage

Answer 34

1. companies become more aware of changing public expectations 2. interact with and listen to stakeholders 3. top managers become involved

Question 35

features of the innovative stage

Answer 35

1. organizations become more aware that they cannot carry out new commitments 2. departments begin to coordinate to launch new programs and start reporting their efforts to stakeholders

Question 36

features of the integrated stage

Answer 36

1. companies see the need to build more coherent initiatives 2. integrated companies may adopt triple-line measures

Question 37

features of the transforming stage

Answer 37

1. highest stage 2. companies at this stage have visionary leaderships

Question 38

define corporate power

Answer 38

the capability of corporations to influence government, the economy, and society

Question 39

define iron law of responsibility

Answer 39

in the long run, those who do not use power in a way society considers responsible tend to lose it

Question 40

define social audit

Answer 40

a systematic evaluation of an organization's social, ethical, and environmental performance