Podcast
Questions and Answers
What is a distinguishing feature of American culture compared to European culture?
What is a distinguishing feature of American culture compared to European culture?
How do European governments typically use tax revenues in comparison to American governments?
How do European governments typically use tax revenues in comparison to American governments?
In terms of corporate social responsibility (CSR), what is notable about the United States compared to Europe?
In terms of corporate social responsibility (CSR), what is notable about the United States compared to Europe?
What has driven the evolution of values and laws regarding CSR in Europe?
What has driven the evolution of values and laws regarding CSR in Europe?
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What is a characteristic of the laws governing businesses in Europe, particularly in France?
What is a characteristic of the laws governing businesses in Europe, particularly in France?
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What is the primary benefit of a product-sharing operation connected to a company’s core business?
What is the primary benefit of a product-sharing operation connected to a company’s core business?
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Which aspect distinguishes American Corporate Social Responsibility (CSR) from European CSR?
Which aspect distinguishes American Corporate Social Responsibility (CSR) from European CSR?
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What does Corporate Social Responsibility (CSR) fundamentally imply about a company's role?
What does Corporate Social Responsibility (CSR) fundamentally imply about a company's role?
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Who is credited with the early definition of Corporate Social Responsibility?
Who is credited with the early definition of Corporate Social Responsibility?
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Which of the following statements best describes the risk associated with adding a social charge to a product?
Which of the following statements best describes the risk associated with adding a social charge to a product?
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What key aspect is essential for defining 'sustainable business'?
What key aspect is essential for defining 'sustainable business'?
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How is the concept of shared value best characterized?
How is the concept of shared value best characterized?
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What is a potential downside of social causes used in marketing according to the content?
What is a potential downside of social causes used in marketing according to the content?
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What is one negative impact of polluting water sources for companies?
What is one negative impact of polluting water sources for companies?
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Which of these represents a risk of new regulations due to corporate misconduct?
Which of these represents a risk of new regulations due to corporate misconduct?
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What could potentially lead to business discontinuities for companies like Coca-Cola?
What could potentially lead to business discontinuities for companies like Coca-Cola?
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How can reducing resource use benefit a corporation?
How can reducing resource use benefit a corporation?
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What was one public response to Nike's corporate behavior?
What was one public response to Nike's corporate behavior?
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What is a potential consequence of corporate environmental negligence?
What is a potential consequence of corporate environmental negligence?
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Why are stakeholder identifications important in corporate ethics?
Why are stakeholder identifications important in corporate ethics?
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What does a corporation risk by not adhering to Corporate Social Responsibility (CSR) principles?
What does a corporation risk by not adhering to Corporate Social Responsibility (CSR) principles?
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What percentage of the maintenance turnover for Air France-KLM comes from external customers?
What percentage of the maintenance turnover for Air France-KLM comes from external customers?
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Which predictive maintenance solution was launched by Air France-KLM in 2015?
Which predictive maintenance solution was launched by Air France-KLM in 2015?
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What is one way an aircraft can provide a longer lifetime?
What is one way an aircraft can provide a longer lifetime?
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Which company offers bedrooms and conference rooms inside a grounded aircraft?
Which company offers bedrooms and conference rooms inside a grounded aircraft?
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Which company collaborates with Airbus for aircraft recycling?
Which company collaborates with Airbus for aircraft recycling?
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What type of expertise does the aircraft recycling field focus on?
What type of expertise does the aircraft recycling field focus on?
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Where are the aircraft recycling facilities operated by Airbus and Tarmac Aerosave located?
Where are the aircraft recycling facilities operated by Airbus and Tarmac Aerosave located?
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What is one benefit of providing a 'second life' to aircraft?
What is one benefit of providing a 'second life' to aircraft?
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What is the calculated stakeholder value (SV) based on the given sales and opportunity costs?
What is the calculated stakeholder value (SV) based on the given sales and opportunity costs?
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How much value do customers contribute to the stakeholder value?
How much value do customers contribute to the stakeholder value?
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What does the total opportunity cost sum up to for the stakeholders?
What does the total opportunity cost sum up to for the stakeholders?
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What is the apparent accounting profit based on given figures?
What is the apparent accounting profit based on given figures?
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Which stakeholder has the lowest value contribution in this scenario?
Which stakeholder has the lowest value contribution in this scenario?
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What is the managerial slack calculated in this context?
What is the managerial slack calculated in this context?
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If customers were willing to pay €2,000 and the sales price is €1,800, what is the value gained by customers?
If customers were willing to pay €2,000 and the sales price is €1,800, what is the value gained by customers?
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What type of approach does the stakeholder value measurement utilize?
What type of approach does the stakeholder value measurement utilize?
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What is one financial consequence of reducing employee travel?
What is one financial consequence of reducing employee travel?
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Which strategy is NOT mentioned as a means to improve employee well-being at Google?
Which strategy is NOT mentioned as a means to improve employee well-being at Google?
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What is the estimated cost of workplace discomfort per employee in 2020?
What is the estimated cost of workplace discomfort per employee in 2020?
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Which of the following is a potential positive impact of improving employee well-being?
Which of the following is a potential positive impact of improving employee well-being?
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Which risk is associated with neglecting employee mental health?
Which risk is associated with neglecting employee mental health?
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What does the term 'Reputational risk' refer to in the context of employee well-being?
What does the term 'Reputational risk' refer to in the context of employee well-being?
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Which of the following is a strategy used by companies like Google to prevent hidden costs?
Which of the following is a strategy used by companies like Google to prevent hidden costs?
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What is an example of a CSR opportunity mentioned?
What is an example of a CSR opportunity mentioned?
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What impact does employee satisfaction have according to the corporate strategy?
What impact does employee satisfaction have according to the corporate strategy?
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What is one negative impact of increasing workplace stress on employees?
What is one negative impact of increasing workplace stress on employees?
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What is one approach companies typically take to manage new market opportunities related to CSR?
What is one approach companies typically take to manage new market opportunities related to CSR?
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Which of the following is NOT a strategy for enhancing resource productivity mentioned?
Which of the following is NOT a strategy for enhancing resource productivity mentioned?
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What does the research highlight about the psychological state of French employees as of March 2023?
What does the research highlight about the psychological state of French employees as of March 2023?
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Study Notes
Key Skills for Corporate Transition
- Students will understand the dependence and impact of businesses on environmental systems and society
- Students will be aware of the social acceptability issues of various technological transitions aimed at reducing environmental impact
- Students will learn how to balance the pros and cons in a social and environmental perspective of various technological options
Key Skills for Corporate Transition - Sessions
- There will be five sessions with five different teachers
- Session 1: Economics (October 2nd - Ioannis Bournakis)
- Session 2: Life cycle analysis (October 16th - Yoann Guntzburger)
- Session 3: Sustainable business (October 30th - Aurélie Peyron)
- Session 4: Innovation (November 20th - Sophie Chlela)
- Session 5: Artificial intelligence (November 27th - Margherita Pagani)
Assessment
- End session quiz on K2 - 20%
- Midterm (30 minutes): 30 multiple choice questions - 30%
- Final exam (90 minutes): open-ended questions - 50%
Sustainable Business
- Business organizations participate in sustainable development's society model
- Corporate philanthropy
- Corporate Social Responsibility
- Shared value
What is a Sustainable Business?
- A business that contributes to Sustainable Development
- Addresses environmental and social problems
- Addresses solutions for these problems
Environmental Problems
- Global warming
- Plastic gyres
- Pollution
Society Problems
- Employment (Jobs)
- Inequality (income disparity)
- Freedom of speech rights
Sustainable Development
- The Brundtland Commission defines sustainable development as development that meets the needs of the present without compromising future generations from meeting their own needs.
- Involves environmental, social, and economic factors.
- Involves finding a balance between the needs of the current generation and the potential needs of the generations in future.
Business Contribution to Sustainable Development
- Eliminate negative impacts on society and the environment.
- Reduce negative impacts on society and the environment.
- Compensate for negative impacts on society and the environment.
- Increase positive impacts on society and the environment.
- Create new positive impacts on society and the environment.
Business Contribution to Sustainable Development - Airline Industry
- Eliminate negative impacts: KLM supports AeroDelft in designing a liquid hydrogen aircraft; Air France-KLM participates in initiatives to accelerate zero-emission commercial aviation technologies.
- Reduce negative impacts: Air France-KLM is renewing its fleet with more fuel-efficient aircraft (Airbus A350, A320neo, Airbus A220, Embraer 195-E2s); incorporating Sustainable Aviation Fuel; participating in initiatives to increase production and supply of renewable and low carbon fuels.
- Reduce negative impacts: Implementing new tools based on artificial intelligence in partnership with innovative start-ups such as SkyBreathe and OptiFlight for precise tracking of fuel-efficiency practices; new decompression and drift procedures; weight reduction strategies for aircraft.
- Increase positive impacts: Creating "Train + Air" & "Air&Rail" combining air and train.
- Compensate negative impacts: Support carbon capture, projects and invest in biodiversity conservation like reforestation projects in Panama, Uganda, and Colombia.
- Engage customers: through individual or corporate SAF (Sustainable Aviation Fuel) programs. All members of Air France-KLM's Flying Blue program can purchase SAF to earn or maintain Flying Blue's Elite status.
Corporate Philanthropy
- Strictly defined as voluntary donations of corporate resources to charitable causes
- Not considered to be a personal action
- Not the same as sponsorship, as it doesn't involve exchange.
Reasons for Corporate Philanthropy
- To manage impacts on society and the environment.
- To compensate for negative impacts
- When expertise required to solve the problem is unavailable internally, cost-effectiveness (in relation to employing the firm's resources) is considered when deciding to finance initiatives through an external organization, rather than internally.
Different Ways to Engage in Corporate Philanthropy
- Financial giving (direct donations, foundations)
- In-kind donations (materials, products, real estate)
- Skills-based volunteering (employees' time contributed to associations)
Foundations - Banking Industry Examples
- Private funds, endowment funds
- Short-term vs Long-term commitment
- Influence vs Conformity
Corporate Social Responsibility (CSR)
- Companies have a responsibility toward society, and that includes balancing business activities with society's values and goals.
- Different cultural interpretations, such as America's focus on "giving back" vs Europe's approach to social and governmental obligations.
- Differences in legislative pressure (e.g., the US vs Europe).
- The ISO 26000 standard provides a globally recognized and accepted definition of CSR.
Stakeholders
- Anyone that can be/is impacted or influenced by an organization or firm's actions.
- Includes individuals & groups, as well as the company itself
- Include their contributions to the value creation process
- Identify relationships and influence levels
Conflict of Interest
- Stakeholders' interests, versus society interests, versus shareholders interests.
- Potential conflicts due to differing needs or expectations among these entities in operations in a business.
Why Engage in CSR?
- Moral motivation
- Relational motivation
- Instrumental motivation
Corporate Strategy & CSR
- Balancing profitability and satisfying demands for CSR from various stakeholders (consumers, employees, community).
- Identifying and addressing negative impacts to stakeholders.
Product-Sharing
- Allowing customers to contribute to social causes by purchasing
- Ex: Volvic-Unicef operation, focusing on accessibility to drinking water.
Addressing Environmental Issues
- Implement sustainable supply chains - regenerate businesses
- Utilize ecodesign with modularity
- Reduce carbon footprint with reshoring & disintermediation
- Employ responsible consumption models.
- Ensure longer product lifetime
Addressing Society Issues
- Develop social inclusion strategies (BOP).
- Consider social finance measures like social impact bonds and microfinance.
- Foster company structures with equitable policies like cooperative status and leadership models.
- Establish stakeholder governance by integrating their values into business practices.
- Implement sharing economy models, to exchange goods and services.
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Description
This quiz examines the key distinctions between Corporate Social Responsibility (CSR) in the United States and Europe. It covers various aspects, including cultural influences, government tax revenue usage, and legal characteristics. Test your understanding of how these factors shape business practices and values in both regions.