Company Policies and Work-life Balance Quiz chapter 6

Corporate Social Responsibility (CSR) originated from wealthy business owners donating to charities.

Shareholders filed lawsuits against management for wasting company money.

The roots of CSR are found in corporate governance and business ethics.

CSR became mainstream as companies aimed to meet sustainability demands from customers and society.

John D. Rockefeller is the most famous philanthropist mentioned in the context of CSR.

The EU defines CSR as the responsibility of enterprises for their impact on society.

At the end of the 19th century, many shareholders were filing lawsuits against management.

Organizations should integrate stakeholders' concerns into their business operations and strategy.

Organizations should maximize the creation of shared value for both shareholders and stakeholders.

One critique of CSR is that companies use it as a promotional tool without genuine process changes.

The main responsibility of a business is to focus solely on economic value.

Companies argue that fierce competition forces them to prioritize their bottom line over CSR spending.

The perception that CSR has gone too far views it as a pure business trend with no social value.

Strategic CSR involves actions that are closely linked to the company’s core business.

Transformative CSR includes establishing new rules and standards for an entire sector.

Sustainable Business Management focuses on balancing economic and social value in business operations.

Free market theory has flaws as it fails to consider externalities and non-monetary transactions.

Starbucks is committed to buying 100% ethically sourced coffee.

CSR activities prioritize transparency about processes and decisions.

The company's vacation policy allows employees to take vacation as needed.

Patagonia aims to encourage customers to reuse, recycle, and buy consciously about their production and clothes.

CSR activities primarily focus on ensuring good communication and identifying potential risks and opportunities with stakeholders.

H&M focuses on waste reduction by installing recycling boxes for clothes returns and offering a renting service.

Levi’s addresses child labor by paying for children's schooling and ensuring jobs for legal working age.

The guiding principle for expenses at the company is to 'Act in Netflix’s best interest.'

The purpose is to ensure ethical behavior and stakeholder management in business practices.

Many CSR activities offer additional services oriented towards waste reduction and product lifespan extension.

According to ISO26000, CSR involves contributing to sustainable development and considering stakeholder expectations.

CSR helps shape a company's reputation by building identity for consumers and employees.

A key advantage of CSR is the ability to put a price on externalities.

CSR empowers stakeholder relations by creating stronger relationships and increasing communication.

Corporate values should be integrated throughout the entire company in relation to CSR.

Tesla envisions a future solely driven by clean, renewable energy.

Netflix prioritizes a flexible work environment, allowing staff to take days off for family time.

Ben & Jerry’s actively supports marriage equality for over 35 years.

CSR motivates employees by helping them identify with the company and focusing on their well-being.

The correct definition of CSR lies somewhere between the ISO26000 standard and the EU definition.