Corporate Social Responsibility and Sustainability (45-64)

consumerism

A form of social activism dedicated to protecting the rights of consumers in their dealings with businesses

collusion

illegal agreement between two or more companies to commit a wrongful act

price gouging

responding to increased demand with overly steep price increases

whistleblower

employee who detects and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publishing them

insider trading

illegal practice of using special knowledge about a firm for profit or gain

Sarbanes-Oxley Act

requires an organization's chief financial officers to personally guarantee the accuracy of all financial reporting

obstruction stance

approach to social responsibility that involves doing as little as possible and may involve attempts to deny or cover up violations

defensive stance

approach to social responsibility by which a company meets legal requirements in its commitments to group and individuals in its social environment. - admits to mistake and taking corrective actions and nothing more

Accommodative Stance

approach to social responsibility by which a company, if specifically asked to do so, exceeds legal minimums in its commitments to groups and individuals in its social environment

Proactive Stance

approach to social responsibility by which a company actively seeks opportunities to contribute to the well-being of groups and individuals in its social environment

corporate social responsibility

a public image, should do it

environmental, social and governance (ESG)

report something to regulatory body -- report with numbers

circular economy

recycle & a regenerative model

green growth

growing in an environment in a sustainable way

I = P A T

degrowth

not growing -- planned reduction of energy and resource use designed o bring economy back into place

greenwashing

making packaging (green/leaves) of a product look sustainable but they actually aren't