CSR and the Triple Bottom Line

A set of flashcards covering key terms and concepts related to Corporate Social Responsibility and the Triple Bottom Line as per the lecture notes.

Triple Bottom Line

An approach that measures a company's commitment to social, environmental, and economic responsibility, focusing on People, Planet, and Profit.

Brundtland Report

A 1987 report by the World Commission on Environment and Development that addressed environmental degradation and proposed sustainable development strategies.

Corporate Social Responsibility (CSR)

A business model that helps a company be socially accountable to itself, its stakeholders, and the public.

Sustainability

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Environmental Impact

The effect that human activities have on the environment, often assessed through metrics like greenhouse gas emissions, waste, and pollution.

Crisis Management

The strategies and processes companies implement to handle unexpected emergencies and threats to their reputation.

Joseph Schumpeter's theory

Describes how capitalism drives rational cost-profit calculations which influence various aspects of life and culture.

Humanity’s ability to make development sustainable

The capacity to develop in a way that balances present needs with future generations’ needs, highlighted in the Brundtland Report.

Greenhouse Gas (GHG)

Gases that contribute to the greenhouse effect by trapping heat in the atmosphere, significant in discussions of environmental impact.

Stakeholders

Individuals or groups with an interest or concern in a business, including employees, customers, suppliers, and the wider community.

Economic stability

The ability of a company to maintain consistent financial health and performance over the long term, as emphasized in the Triple Bottom Line framework.