CSR: Corporate Social Responsibility
Questions & Answers(RATED A)
What is corporate social responsibility? -ANSWER "Relationships between corporations
and society and the responsibilities that are inherent on both sides of these
relationships."
What is a stakeholder? -ANSWER Any group or individual who can affect or is affected
by the achievement of the organization's objectives.
Corporate Social Responsibility Hierarchy (Archie Carroll) -ANSWER Economic, legal,
ethical, discretionary
CSR - Economic -ANSWER produce an acceptable return on the owners' investment
CSR - Legal -ANSWER duty to act within the legal framework
CSR - Ethical -ANSWER responsibility to do no harm to stakeholders and operating
environment
CSR - Discretionary -ANSWER proactive, strategic behaviors that can benefit the firm
and society
strategic CSR focuses on the ethical and discretionary concerns. Why? -ANSWER
"Those concerns and their responses are vague and subjective. They are less precisely
defined, and there is usually no clear societal consensus."
strategic CSR focuses on -ANSWER the ethical and discretionary concerns.
Why is CSR increasingly relevant today? -ANSWER Affluence; Ecological sustainability;
Globalization; Free flow of information; and Brands
Define vision- -ANSWER A firm's vision answers why the organization exists. It
identifies the needs the firm aspires to solve for others.
Define mission -ANSWER It is identified in a mission statement and states what the
organization is going to do to achieve its vision. It addresses the types of activities the
firm seeks to perform.
Define strategy- -ANSWER Strategy explains how the organization is going to
undertake its mission. It sets forth the ways it will negotiate its competitive environment
in order to attain a sustainable advantage.
Questions & Answers(RATED A)
What is corporate social responsibility? -ANSWER "Relationships between corporations
and society and the responsibilities that are inherent on both sides of these
relationships."
What is a stakeholder? -ANSWER Any group or individual who can affect or is affected
by the achievement of the organization's objectives.
Corporate Social Responsibility Hierarchy (Archie Carroll) -ANSWER Economic, legal,
ethical, discretionary
CSR - Economic -ANSWER produce an acceptable return on the owners' investment
CSR - Legal -ANSWER duty to act within the legal framework
CSR - Ethical -ANSWER responsibility to do no harm to stakeholders and operating
environment
CSR - Discretionary -ANSWER proactive, strategic behaviors that can benefit the firm
and society
strategic CSR focuses on the ethical and discretionary concerns. Why? -ANSWER
"Those concerns and their responses are vague and subjective. They are less precisely
defined, and there is usually no clear societal consensus."
strategic CSR focuses on -ANSWER the ethical and discretionary concerns.
Why is CSR increasingly relevant today? -ANSWER Affluence; Ecological sustainability;
Globalization; Free flow of information; and Brands
Define vision- -ANSWER A firm's vision answers why the organization exists. It
identifies the needs the firm aspires to solve for others.
Define mission -ANSWER It is identified in a mission statement and states what the
organization is going to do to achieve its vision. It addresses the types of activities the
firm seeks to perform.
Define strategy- -ANSWER Strategy explains how the organization is going to
undertake its mission. It sets forth the ways it will negotiate its competitive environment
in order to attain a sustainable advantage.
