Corporate Social Responsibility and Performance Quiz

Globalization is a process of increasing interconnectedness and interdependence between countries, fueled by trade, finance, and technology.

The IMF, World Bank, and WTO are international organizations that help regulate and facilitate global trade and finance.

Globalization allows for the free flow of capital, goods, technology, and knowledge across borders.

Despite its benefits, Globalization can lead to wealth inequality, with wealth flowing from poorer to richer countries.

Developing countries often face heavy debt burdens due to loans from the US and IMF, which can hamper their development.

Virtue ethics emphasizes the importance of character and moral virtues in ethical decision-making.

Virtue ethics asks 'How should I live?' and 'What is the good life?'

Virtue ethics emphasizes moral education and development as crucial for cultivating virtuous character.

Virtue ethics recognizes that ethical behavior is influenced by the specific situation, including time, place, and social circumstances. It sees economic activities as shaped by both ethical motivations and practical realities like scarcity and uncertainty.

In virtue ethics, economic activities are viewed as collaborative efforts among individuals to create value. These efforts are driven by shared values rather than solely by external rewards like profit. Overemphasis on profit can undermine the moral integrity of economic activities.

Virtue ethics emphasizes intrinsic motivation, which arises from a sense of ethical responsibility and commitment, over extrinsic motivation based on financial incentives. Extrinsic motivation can weaken moral responsibility and harm productivity.

Trust and reputation act as social mechanisms that foster cooperation and reduce transaction costs. Sharing common values helps build trust, while a lack of shared values leads to opportunism.

Virtue ethics calls for balance in economic practices. Excessive pursuit of external rewards like profit can lead to unethical behavior, but ignoring external needs risks sustainability.

Virtue ethics acknowledges that balancing good intentions with social processes is key to ethical decision-making. Reputation management and external feedback are vital in shaping practical outcomes.

Virtue ethics argues that virtues can thrive even in large, anonymous settings through concepts like trustworthiness and reputation. While enforcing moral rules may be more challenging, virtue ethics remains relevant by fostering intrinsic values.

The Brent Spar case highlights how combining good intentions with considerations of reputation and environmental concerns can ultimately lead to environmentally sound outcomes.

The extremes of a behavior, such as cowardice and recklessness, with the ideal being somewhere between the two.

A business philosophy that focuses on creating economic value in a way that also benefits society by addressing its needs and challenges.

The development of a good moral character involves a lifelong process of learning, reflection, and practice.

The idea that businesses should not just focus on maximizing profits, but should also consider the broader impact their activities have on society.

A way to create shared value by changing the products or services a company offers to better address social needs.

Developing good habits and practical wisdom is achieved through regular practice and observation.

Creating shared value by changing the way a business operates to reduce negative social impacts and create positive ones.

To create a virtuous organization, all members need to individually strive for moral excellence. This includes cultivating good habits and practical wisdom.

Organizational structures, like HR policies, technology, and company culture, should support and encourage ethical behavior.

Creating shared value by working with other organizations and individuals in a local community to improve the overall economic, social, and environmental well-being.

The traditional economic theory that assumes businesses should focus solely on maximizing profits, without considering social impacts.

Though good intentions are important, they do not guarantee positive outcomes. Sometimes, even with good motivations, the results may be less than ideal.

A lack of clear guidance on how to act ethically can be a challenge, especially in complex situations.

Costs or benefits that affect people or the environment but are not reflected in the price of a product or service. Examples include pollution and traffic congestion.

The idea that businesses should not be responsible for addressing social problems, which should be left to governments and nonprofits.

The complexity of issues affecting organizations and societies makes applying individual virtue ethics more challenging. It may be adapted, but this requires careful consideration.

An action is only morally good if it is done solely for the sake of doing good, regardless of the outcome or context.

The categorical imperative is a test to determine if an action is morally permissible. It asks whether the maxim behind the action could become a universal law, applying to everyone in all situations.

Kant's categorical imperative emphasizes the intention behind actions, focusing on whether the action itself is morally right, not just its consequences.

The categorical imperative is a universal moral law that determines whether an action is morally right. It serves as the foundation for all other moral principles.

Virtue ethics aims to understand how we should live and what kind of person we should strive to be, focusing on the development of positive character traits.

Virtue ethics emphasizes the role of moral education and development in cultivating a virtuous character.

According to virtue ethics, cultivating virtues like wisdom, courage, temperance, and justice leads to right actions. It emphasizes the importance of the individual's character and moral disposition, rather than relying heavily on rules or outcome calculations.

The idea that CSR practices have a positive impact on a company's financial performance (CFP). This link is often debated, with studies showing different levels of impact depending on factors like industry and specific CSR indicators.

A key challenge in understanding CSR's impact on CFP is proving a direct cause-and-effect relationship. This is difficult because of factors like: a) the complexity of measuring both CSR and CFP, and b) the influence of other variables that also affect a company's performance.

The infrastructure of CSR refers to the set of organizations and systems that support and shape corporate social responsibility efforts. These include market and business initiatives, civil society institutions, and government agencies.

The "governance triangle" describes how different actors, including businesses, civil society, and governments, work together to set and enforce standards for responsible business conduct. There's a trend towards more global and privately-led initiatives driving these standards.

Global Production Networks (GPNs) represent the predominant way goods are produced today. Companies in different countries work together through supply chains to create products.