Social Responsibility and Corporate Social Responsibility (CSR)

Flashcards covering the definitions, responsibility areas, benefits, and corporate examples of Social Responsibility and CSR based on the lecture notes.

Corporate Social Responsibility (CSR)

A business model that helps companies integrate social and ethical concerns into their operations and interactions with stakeholders and the public.

Internal areas of responsibility

A level of CSR focusing on market responsibility, economic efficiency, and legal compliance without loopholes.

Middle areas of responsibility

A level of CSR involving values, environmental standards, labor standards, supply chain management, and stakeholders.

External areas of responsibility

A level of CSR comprising contributions (corporate giving), sponsoring, and social activities (corporate volunteering).

Business Ethics

The social obligations of a business, as well as the obligations to employees, customers, suppliers, and competitors.

Social Responsibility

A concept under the umbrella of business ethics that focuses more narrowly on a company's social obligations.

Benefit: Reduced Employee Turnover

One of the organizational benefits of implementing CSR, alongside improved brand image and increased customer loyalty.

Walt Disney Company & Make-A-Wish Foundation

A long-standing partnership that grants life-changing wishes to children with critical illnesses through financial support, experiences, and merchandise.

VTO

An acronym for Volunteer Time Off, mentioned as a standout corporate giving program alongside matching gifts and volunteer grants.

United Airlines CSR Report

A report highlighting specific employee growth, such as $513$ frontline employees promoted into management roles.

Philippine Airlines Foundation (PAL Foundation)

An organization that promotes social sustainability by providing humanitarian assistance to underprivileged communities, including youth, elderly, PWD, and victims of calamities.

SM Foundation

An organization associated with CSR activities such as the construction of Balatong Elementary School.