Corporate Social Responsibility (CSR) Overview

A comprehensive set of flashcards covering important vocabulary related to Corporate Social Responsibility (CSR) concepts, definitions, and relevant information.

Corporate Social Responsibility (CSR)

Voluntary actions taken by corporations to address social and environmental issues.

Howard Bowen

Published 'Social Responsibilities of the Businessman' in 1953, emphasizing business's obligations to society.

Keynesian economist

An economist who believes that government intervention can help stabilize the economy.

Carroll's Pyramid of CSR

A model describing the four layers of corporate responsibility: economic, legal, ethical, and discretionary.

Economic responsibilities

Obligation to be profitable and maximize sales.

Legal responsibilities

Requirement to obey laws and regulations.

Ethical responsibilities

Expectations to act fairly and justly.

Discretionary (Philanthropic) responsibilities

Desired contributions to society, such as charitable giving.

Sustainable Development Goals (SDGs)

A set of 17 global goals established by the UN to address various global challenges.

Social venture philanthropy

Investment of resources by corporations to generate social, not just financial, returns.

Corporate voluntarism

Employee participation in community efforts supported by employers.

Corporate sponsorship

Partnership between a business and an event or organization for mutual benefit.

Social enterprise

A business model where profits are allocated to social causes.

TOMS One for One model

A business model where for every product sold, a product is donated to someone in need.

Corporate giving

The act of donating resources or money to charitable causes.

Cause-related marketing

Marketing that ties the purchase of a product to a charitable contribution.

DICK'S Sporting Goods stance

Declared commitment to stop selling assault-style rifles and support gun reform.

Debate on CSR

Discussion on the extent of corporate responsibilities and their effectiveness.

Milton Friedman’s view

Argued that businesses should focus solely on maximizing profits for shareholders.

Legitimacy of business

The acceptance of a business's existence by society, crucial for its survival.

CSR and reputation

Engaging in CSR can improve a company's reputation and customer trust.

Corporate activism

When companies take a stand on social issues beyond traditional CSR.

Social performance

A measure of how well a company meets social and ethical standards.

Philanthropy

Charitable efforts undertaken by individuals or organizations.

Community investment

Business investments aimed at enhancing local communities.

CSR in the 1960s

Broadened with the rise of the environmental movement.

Triple bottom line

A framework that includes social, environmental, and financial performance.

Corporate ethics

Moral principles guiding business conduct in society.

Political CSR

Involvement of businesses in political processes to influence social issues.

CSR Report

A report published by an organization outlining its social responsibility initiatives.

Philanthropic measures

Actions taken by businesses to contribute to society without expectation of returns.

Voluntarism

Employee efforts to contribute time and talent to community initiatives.

Community development

Programs designed to improve the social, economic, and environmental well-being of communities.

CSR transparency

The openness of companies about their CSR practices and impacts.

Corporate social performance

A measure of a company’s commitment and impact regarding CSR.

CSR in the 1970s

A decade where CSR research began to significantly increase.

CSR debate today

Focus on whether voluntary CSR is sufficient to solve societal challenges.

CSR by large corporations

Involvement of large firms in CSR activities as standard business practice.

CSR benefits

Potential positive impacts on a company's performance and public image.

CSR stakeholders

Groups or individuals affected by or interested in a company's CSR practices.

CSR initiatives

Specific actions and programs a company undertakes related to CSR.

CSR accountability

Responsibility of businesses to report on their CSR activities and outcomes.

Corporate Citizenship

The role of a business in society and its responsibilities to stakeholders.

Corporate ethics examples

Practices that ensure fairness, integrity, and respect in business.

CSR reporting standards

Guidelines businesses follow to measure and report their social responsibility efforts.

CSR misconceptions

Common misunderstandings about what CSR entails and its significance.

CSR effectiveness

Assessment of how well CSR initiatives achieve desired social outcomes.

CSR and competitive advantage

How engaging in CSR can lead to better market positioning.

CSR partnerships

Collaborations between businesses and other organizations to advance CSR goals.

Philanthropy metrics

Measurements used to evaluate the impact of philanthropic efforts.

Stakeholder engagement

Involving stakeholders in conversations about a company’s CSR practices.

CSR evolution

The changing nature and perception of CSR over time.

CSR impact measurement

Approaches used to assess the effectiveness of CSR initiatives.

CSR trends

Current patterns and shifts in corporate social responsibility practices.

Role of leaders in CSR

Influence that management has in shaping a company’s approach to CSR.

CSR challenges

Difficulties companies face when implementing effective CSR strategies.

Reputation management in CSR

Efforts to maintain or improve public perception through CSR.

CSR advocacy

Efforts to promote the importance and relevance of CSR activities.

CSR crisis response

How companies react to public relations crises through CSR actions.

CSR commitments

Pledges made by companies to undertake specific CSR initiatives.

Future of CSR

Predictions and trends regarding the evolution of corporate social responsibility.

Role of NGOs in CSR

Influence of non-governmental organizations on corporate social responsibility.

CSR in supply chains

Implementation of CSR practices throughout the supply chain.

CSR regulations

Governmental policies that aim to enforce corporate social responsibility.

Voluntary vs. mandatory CSR

Debate on whether CSR practices should be voluntary or enforced by law.

Corporate values and CSR

The relationship between a company’s core values and its CSR policies.

CSR communication strategies

Methods used by businesses to inform the public about their CSR initiatives.

CSR funding sources

Different ways in which companies finance their CSR activities.

CSR and innovation

The connection between social responsibility and innovative practices.

CSR collaboration

Working together with other businesses or organizations on CSR initiatives.

CSR dilemmas

Ethical conflicts businesses face while implementing CSR.

CSR as a marketing tool

Using CSR initiatives to enhance brand visibility and customer loyalty.

CSR analysis frameworks

Models used to evaluate the impact and effectiveness of CSR initiatives.

CSR in small businesses

How smaller companies approach corporate social responsibility.

Consumer perception of CSR

How customers view and respond to companies’ CSR efforts.

Measuring CSR success

Evaluating the outcomes and effectiveness of CSR practices.

Corporate governance and CSR

Influence of governance structures on CSR strategies.

Stakeholder theory in CSR

Understanding CSR through the lens of stakeholder interests.

Global CSR initiatives

International efforts to promote corporate social responsibility.

CSR and employee engagement

Impact of CSR activities on employee motivation and satisfaction.

CSR challenges for global companies

Issues faced by businesses in implementing CSR worldwide.

CSR educational programs

Training aimed at improving understanding of CSR within organizations.

CSR and brand loyalty

Relationship between CSR practices and customer repeat business.

CSR technology tools

Digital solutions to facilitate CSR monitoring and reporting.

CSR investment

Resources allocated to support corporate social responsibility efforts.

External and internal CSR

Distinction between social responsibility efforts directed externally vs. internally.

CSR stakeholder mapping

Identifying and assessing the influence of stakeholders on CSR strategies.

CSR funding landscape

Overview of financial support available for CSR initiatives.

CSR best practices

Proven strategies that enhance the effectiveness of CSR efforts.

CSR measurement tools

Instruments and systems for assessing CSR performance.

CSR in marketing

Integrating CSR values into marketing campaigns.

CSR best practice examples

Successful case studies of effective corporate social responsibility.

CSR employee training

Program training employees on CSR policies and practices.

CSR and corporate ethics intertwine

How corporate social responsibility aligns with ethical business practices.

Importance of CSR communications

The necessity for clear communication regarding CSR activities.

CSR audits

Evaluations of a company's CSR practices and their impacts.

CSR strategic planning

Methodology for integrating CSR into overall business strategies.

CSR case studies

Analyze specific examples of CSR implementation in organizations.

CSR social impact

The effects of corporate social responsibility initiatives on society.

Investor interest in CSR

Growing focus among investors on companies' social responsibility.