CSR (FINALS)

Question 1

_________ __________ is a term which has come to characterize a family of professional disciplines intended to help a corporation stay competitive by maintaining accountability to its four main stakeholder groups: _____, _____, ____, and _____

Answer 1

Corporate Responsibility

customers, employees, shareholders, communities

Question 2

THREE APPROACHES TO CORPORATE RESPONSIBILITY

It emphasizes the Company’s responsibility to make money & interact ethically with surrounding community.
The responsibility to profit while providing for the welfare of the community.

Answer 2

CSR (Corporate Social Responsibility)

Question 3

OBLIGATIONS OF CSR

The responsibility to earn money.

Answer 3

Economic Responsibility

Question 4

OBLIGATIONS OF CSR

The responsibility to follow the law

Answer 4

Legal Responsibility

Question 5

OBLIGATIONS OF CSR

The responsibility to do what is right even if it is not required by law

Answer 5

Ethical Responsibility

Question 6

OBLIGATIONS OF CSR

The responsibility to contribute to programs or projects even if it has nothing to do with the business.

Answer 6

Philanthropic Responsibility

Question 7

CSR STRATEGY

To incorporate it in CSR, the company must consider what it is trying to achieve.

Answer 7

Mission

Question 8

CSR STRATEGY

The company is facing - the firm must study its environment through research.

Answer 8

Strategic Issues

Question 9

CSR STRATEGY

Know the characteristics of the target market through segmentation in order to determine their needs

Answer 9

Market

Question 10

CSR STRATEGY

It is important to analyse unmeet social needs

Answer 10

Customer Needs

Question 11

CSR STRATEGY

The company must have the resources to be able to create successful and unique CSR Strategy that is not easy to imitate.

Answer 11

Resources

Question 12

CSR STRATEGY

. . . last . . .

Answer 12

Competitive Advantage

Question 13

THREE APPROACHES TO CORPORATE RESPONSIBILITY

____ _____ _____ It is a concept that points out that firm should commit to measuring their social & environmental impact in addition to their financial performance rather than solely focusing on generating profit, or the standard bottom line. It can be broken into the 3 Ps: _____, _____, & the _______

Answer 13

Triple Bottom Line

Profit, People, Planet

Question 14

THREE APPROACHES TO CORPORATE RESPONSIBILITY

Describes those individuals & groups who will be affected by the Company’s actions - those whose lives are touched by the corporation. It holds that they have the right & the obligation to participate in directing it.
It links the Company’s performance with strategic management.

Answer 14

Stakeholder Theory

Question 15

The long-term maintenance of balance.

Answer 15

Sustainability

Question 16

Values long-term financial solidity over more, short-term profits, no matter how high.

Answer 16

Economic Sustainability

Question 17

Values balance in people’s lives & the way they live. Business must share their wealth to as many people as possible. This will make the business more stable in the long-term through sharing their opportunities.
As imbalance grow (the rich getting richer, & the poor getting poorer), chances are that society will collapse in anger & revolution increases.

Answer 17

Social Sustainability

Question 18

Since natural resources are depleting, conservation becomes a necessary.

Answer 18

Environmental Sustainability