Corporate Social Responsibility Flashcard

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“To seriously consider the impact of the company's actions on society” is the definition of

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Corporate social responsibility

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Corporate social responsibility emphasizes

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obligation and accountability.

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According to the Triple Bottom line perspective, for economic development to be sustainable, it must address these three important issues, except for: economic efficiency (innovation, profitability, productivity, waste reduction), social equity (poverty, community, health and wellness, human rights), environmental accountability, K-12 Educational attainment

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K-12 Educational attainment

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The first and primary argument for corporate social responsibility is

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it is in business's long-range interest to be socially responsible.

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The action-oriented variant of CSR is called

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Corporate Social Responsiveness

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An individual or group who has a claim, an interest, or a legal (or moral) right to an organization is a(n)

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stakeholder.

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What does a stakeholder orientation mean?

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the organization’s aim is to benefit all parties affected by it.

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If Corporate Social Responsibility emphasizes obligation and accountability, Corporate Social Performance emphasizes

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Results and outcomes

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These are three arguments in favor of Corporate Social Responsibility, except for: It ensures compliance, It ensures public support, Corporations should devote some of their resources to addressing social issues.

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It is part of the classic economic model

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Firms that begin their CSR initiatives as part of their founding and strategically carry them forward. Part of their mission is to bring social change or to reflect certain values as part of their organization’s character. These are called:

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Social enterprise