Business Management SL: - CSR

Corporate Social Responsibility (CSR)

A business model where companies integrate social and environmental concerns into operations and stakeholder interactions, going beyond legal obligations.

Triple Bottom Line (TBL)

Framework that evaluates a company’s performance based on three Ps: People (social), Planet (environmental), and Profit (economic).

Stakeholder Theory

The view that businesses have responsibilities not only to shareholders but also to other stakeholders (employees, customers, communities, environment).

Ethical Responsibility

Obligations a business has to act in ways considered morally right, even if not legally required.

Philanthropy

Corporate donations of money, time, or resources to charitable causes as part of CSR strategy.

Sustainability

Meeting present needs without compromising the ability of future generations to meet theirs, often through renewable resources and reduced ecological footprint.

Carbon Footprint

Total greenhouse gas emissions caused directly or indirectly by an organization, product, or activity.

Greenwashing

When a company falsely markets itself as environmentally responsible without making meaningful changes.

Circular Economy

An economic system aimed at eliminating waste and promoting reuse, recycling, and regeneration of resources.

Corporate Governance

The system of rules and processes by which companies are directed and controlled, often tied to accountability and transparency in CSR.

Social Audit

An evaluation of a company’s impact on society, assessing its CSR initiatives and ethical performance.

Code of Conduct

Formal set of guidelines outlining expected ethical behavior of employees and management.

Shared Value

Business strategies that generate economic value while also producing value for society (e.g., reducing poverty through inclusive business models).

CSR Reporting / Sustainability Reporting

Publication of non-financial information to communicate CSR activities, often using standards like GRI (Global Reporting Initiative).

Ethical Consumerism

Consumer decisions based on whether a company practices CSR (e.g., buying fair trade or eco-friendly products).

Corporate Citizenship

The idea that companies, like individuals, have responsibilities to society and the environment.

Externalities

Unintended side effects (positive or negative) of business activities that affect third parties (e.g., pollution, community development).

ISO 26000

An international standard providing guidelines for social responsibility, though not certifiable like ISO 9001.