Which of the following does the term corporate social responsibility relate to quizlet?
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(page129-149) Terms in this set (60)Corporate social responsibility (CSR)* -has many definitions to date -is integrated into a corporation's operations through its values, culture, decision making, strategy, & reporting mechanisms CSR aka? -corporate responsibility How is CSR integrated into a corperation's operations? through its five key elements of CSR* 1)corporations have responsibilities that go beyond the production of goods&services at a profit 2)these responsibilities involve helping to solve important
social problems, esp those they have helped created. 3)corps have a broader constituency than shareholders alone. 4)corps have impacts that go beyond simple marketplace transactions 5)corps serve a wider range of human values than can be captured by a sole focus on economic values Dahlsrud identified five dimensions of CSR existed: 1) environmental: the natural environment expectations are placed on business due to its three roles:* 1) as an institution in society 2)as a particular corporation or organization in society 3) as an individual managers who are moral actors within the corporation in short: 3 principles of corporate social responsibility?* 1) legitimacy principle of legitimacy* refers to society's granting of legitimacy and power to business, and business' appropriate use of that power and the possibility of losing that power. -CSR defines the institutional relationship b/w business and society that is expected of any corporation. principle of public responsibility * means that business is responsible for outcomes related to its areas of involvement with society -level of application is organizational- that is, the corporation- and confines business' responsibility to those problems related to a firm's activities & interests principle of managerial discretion* refers to managers as moral actors who are obliged to exercise such discretion is avail to them to achieve socially responsible outcomes -discretion is involved bc actions of managers are not totally prescribed by corporate procedures importance of CSR? -originally ppl feel that business enterprise had fulfilled its social responsibility by surviving & realizing the maximum profit possible (CSR was to operate profitably, & the corp could not survive w/o profits, much less play a social role) -recently belief that business exists for more than profits (or economic goals), with public expecting something else from business. -orginal concept of social responsibility involving the maximization of profits -modified-> although profits made, social goals are also important. society depends on business to achieve social as well as economic goals, that is social responsibilities are placed on business. principles of CSR (table page 132)** ( look at each bullet and compare) Principle of Legitimacy Principle of Public Responsibility Principle of Managerial Discretion CSR DEBATE (CASE FOR INVOLVEMENT) -business must satisfy society's needs CSR debate (counterargument to the case for involvement) •Profit maximization is the primary purpose of business (e.g., Milton Friedman) -Business involvement in social matters increases costs. 3 social responsibility theories ** 1)amoral view amoral view** traditional view of business as merely profit-making entity -believe there's no such thing as CSR examples of amoral view theories of social responsibility fundamentalism legal recognition individual agreement traditional shareholders model personal view** corporations are like ppl & can therefore be held accountable for their actions
social view** corps are social institutions with social responsibilities examples of social-view theories:** -social contract social contract ** -implicit social agreement stakeholder** there is a social responsibility function of the interrelationships developed by the corporation with groups that have a stake. This approach was also referred as "constituency theory". This theory is one of the main underpinnings of this book social permission** society can legitimately demand the corp do certain kinds of activities social impact* business has the power to change society and must consider social responsibilities social interpenetration ** business is so intertwined with society that it cannot avoid social responsibilities 4 kinds of CSR/social responsibility *? (already in order top to bottom pyramid) page 140 1)PHILANTHROPIC (desired) 2)ETHICAL (expected) 3)LEGAL (required) 4)ECONOMIC (required) "be a good corporate citizen" philanthropic "be ethical" ethical "obey the law" legal "be profitable" economic the 4 kinds of social responsibility which one is required, desired and expected? philanthropic ethical legal economic corporate sustainability (CS)* refers to corporate activities demonstrating the inclusion of social and environmental as well as economic responsibilities in business operations as they impact all stakeholders. 5 levels of CS* 1)Compliance-driven CS Compliance-driven CS* (follow regulations) profit-driven CS (focus on bottom line) caring CS ( go beyond legal compliance) Synergistic CS ( well balanced solutions) Holistic CS (fully integrated CS) 'follow regulations' compliance driven 'fully integrated CS' holistic "go beyond compliance" caring "focus on bottom line" profit driven "well balanced solution" synergistic reputation mangement* is any effort to enhance the corp's image & good name -in past, focus was on media and public relations & crisis management. social impact management* as "the field of inquiry at the intersection of business needs and wider societal concerns that reflects and respects the complex interdependency between the two -business & society approach social impact management evaluates 3 aspects of a business:* 1.purpose of business triple-E (economic,ethical, and environmental) bottom line (TBL)*: evaluates a corporation's performance according to a summary of the economic, social, and environmental value the corporation adds or destroys. what is triple-E bottom line -economic corporate citizenship* occurs when a corp demonstrates that it takes into account its complete impact on society, environment and economy. good corporate citizenship can provide business benefits in 8 areas: 1) Reputation management 2)Risk profile and risk management 3)Employee recruitment, motivation, & retention 4)Investor relations and access to capital 5)Learning and innovation 6)Competitiveness and market positioning 7)Operational efficiency 8)License to operate 3 Views on Corporate/business Citizenship 1)limited 2)equivalent 3)extended limited view focus on corporate giving -considered to be enlightened self-interest equivalent view emphasis on sustainability -rebranding or relaunching ideas or concepts of business extended view defined as a set of individual, social, civil, & political rights business citizenship* Includes the responsibilities of corporate citizenship on a local and national basis and extends it to a global or universal scope VBA model pg148 Integrates and unifies five frameworks in common usage by academics and managers based on three core concepts: VALUE; BALANCE; & ACCOUNTABILITY. -Corporate Social Responsibility (CSR) what are the five frame works? -Corporate Social Responsibility (CSR) VALUE: normative foundation: BALANCE: normative
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What does corporate social responsibility mean quizlet?What is CSR? Corporate social responsibility is the managerial obligation to take action to protect and improve both the welfare of society as a whole and the interest of organizations. a companies obligation exert a positive impact and minimize its negative impact on society.
Which of the following is an example of corporate social responsibility?Some of the most common examples of CSR include: Reducing carbon footprints. Improving labor policies. Participating in fairtrade.
Which of the following is the corporate social responsibility towards consumer?The responsibility towards consumers that Corporate Social Responsibility includes is as follows: To provide goods of standard quality. To charge fair prices i.e., to supply goods at reasonable prices even when there is a seller's market. To provide prompt and courteous after-sale services.
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