Corporate Social Responsibility & Community Relations – Key Vocabulary

25 vocabulary flashcards covering major terms and definitions from Topic 9/10 lecture notes on CSR and community relations.

Corporate Social Responsibility (CSR)

The voluntary actions a company takes to address the economic, social, and environmental impacts of its operations and the concerns of its stakeholders.

Triple Bottom Line (Three Ps)

A CSR framework that measures business success by People (social), Planet (environmental), and Profit (economic) outcomes.

People (Social Dimension)

The ‘P’ in the triple bottom line that focuses on how business decisions affect employees, customers, and local communities.

Planet (Environmental Dimension)

The ‘P’ in the triple bottom line that addresses a company’s impact on natural resources, pollution, and ecological sustainability.

Profit (Economic Dimension)

The ‘P’ in the triple bottom line that emphasizes financial performance and long-term economic value for shareholders.

Strategic CSR

CSR that is embedded in daily operations, supports core business objectives, and leverages firm competencies to create both business value and positive social change.

Carroll’s Pyramid of CSR

A model that categorizes corporate responsibilities into four layers—economic, legal, ethical, and philanthropic—stacked in hierarchical order.

Economic Responsibility

The base of Carroll’s pyramid; the duty of a firm to be profitable and create value for owners and shareholders.

Legal Responsibility

The second layer of Carroll’s pyramid; the obligation to obey laws, regulations, and industry standards.

Ethical Responsibility

The third layer of Carroll’s pyramid; the expectation to act fairly, avoid questionable practices, and go beyond legal requirements.

Philanthropic Responsibility

The top layer of Carroll’s pyramid; voluntary efforts to improve community welfare through donations, sponsorships, and social programs.

Community Philanthropy

CSR practice focused on charitable giving—such as cash, products, or rent-free space—to support local needs.

CSR Communication

The deliberate sharing of a company’s social and environmental efforts with stakeholders through reports, websites, packaging, and social media.

Greenwashing

Misleading communication that exaggerates or fabricates a company’s environmental or social achievements for promotional gain.

Stakeholders

Individuals or groups affected by, or able to affect, a company’s actions—e.g., employees, customers, investors, regulators, and communities.

CSR Reporting (Who–What–How)

The structured disclosure of CSR activities, identifying audiences (who), content areas (what), and communication methods (how).

Marketplace Disclosure

CSR reporting that explains responsible business practices to customers, business partners, and investors.

Workplace Disclosure

CSR reporting that details human-resource policies for employees, trade unions, and public authorities.

Community Disclosure

CSR reporting on commitments and assistance provided to local communities and related authorities.

Environmental Disclosure

Reporting on initiatives to protect and preserve the environment, aimed at employees, investors, and public bodies.

ESG (Environmental, Social, Governance)

A data-driven framework investors use to evaluate non-financial risks and opportunities related to sustainability and corporate governance.

Global Reporting Initiative (GRI)

An international standard that provides guidelines and metrics for consistent, comparable ESG and CSR reporting.

Sustainability Accounting Standards Board (SASB)

A body that issues industry-specific standards for disclosing financially material sustainability information to investors.

Corporate Reputation

Public perception of a company’s credibility, trustworthiness, and responsibility, often strengthened through authentic CSR efforts.

Millennial Employees & CEOs’ Social Stance

Younger workers tend to rate their employers more favorably when top executives publicly address controversial social issues.