Corporate Social Responsibility Overview
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Questions and Answers

What is one of the key responsibilities of corporations under CSR?

  • Minimizing costs at all levels
  • Focusing solely on product innovation
  • Addressing and helping to solve social problems (correct)
  • Maximizing profits for shareholders only

Why is auditing CSR important?

  • It ensures compliance with legal regulations only
  • It eliminates the need for stakeholder engagement
  • It provides systematic assessment of social impact (correct)
  • It focuses exclusively on financial reporting

Which factor is most closely related to a corporation's reputation?

  • Historical performance and future conduct (correct)
  • Current market trends
  • Size of the corporation
  • Recent profit margins

What do studies suggest about the relationship between CSR and profitability?

<p>About 2/3 of studies indicate a positive correlation between CSR and profit (B)</p> Signup and view all the answers

What is a recommended best practice for CSR reporting?

<p>Identifying stakeholders and discussing future trends (A)</p> Signup and view all the answers

Which is a purpose of art mentioned in the context of CSR?

<p>To convey specific messages and evoke emotions (A)</p> Signup and view all the answers

What is the potential consequence of freedom of expression in art, especially in sensitive contexts like during a crisis?

<p>It may lead to misunderstandings and legal issues (B)</p> Signup and view all the answers

In CSR, what is considered vital for effectively communicating social impacts?

<p>Providing a balanced view of both good and bad impacts (A)</p> Signup and view all the answers

Where do ships go to die, as depicted in the film?

<p>Bangladesh (A)</p> Signup and view all the answers

How much does the old master working on the Three Gorges Dam say he earns per day?

<p>30-39 Yuan (D)</p> Signup and view all the answers

How many people were relocated to build the Three Gorges Dam along the Yangtze River?

<p>1,000,000 (D)</p> Signup and view all the answers

What was the agrarian to urban population ratio in China in 2006?

<p>70%/30% (D)</p> Signup and view all the answers

Which concept relates to a business's responsibility toward the environment?

<p>Sustainable Development (D)</p> Signup and view all the answers

How do governments generally address environmental concerns?

<p>By creating regulations or policies (A)</p> Signup and view all the answers

What are environmental non-governmental organizations (ENGOs) known for?

<p>Advocating for environmental improvements (B)</p> Signup and view all the answers

What is a primary driver for globalization related to costs?

<p>Cheapest labor and raw materials (D)</p> Signup and view all the answers

What is the main principal of the World Trade Organization (WTO)?

<p>Promoting competition gradually (D)</p> Signup and view all the answers

Which effect does globalization have on government tax policies?

<p>Transforms how taxes are collected and paid (A)</p> Signup and view all the answers

What is one of the pros of music censorship?

<p>Protects children from negative influences (A)</p> Signup and view all the answers

What is the primary purpose of Canadian Content laws in radio broadcasting?

<p>To promote Canadian culture (A)</p> Signup and view all the answers

What distinguishes a code of conduct from a code of ethics?

<p>Code of conduct enforces penalties while code of ethics does not (D)</p> Signup and view all the answers

Which of the following best describes whistleblowing?

<p>Reporting unethical behavior confidentially (A)</p> Signup and view all the answers

What is a major concern regarding music censorship?

<p>It limits the exposure to diverse viewpoints (D)</p> Signup and view all the answers

What should an ethics officer primarily do?

<p>Study unethical situations and recommend actions (B)</p> Signup and view all the answers

What is a common outcome of a well-implemented ethics program?

<p>Improved public perception of the organization (C)</p> Signup and view all the answers

Which leadership style emphasizes serving others' needs as a priority?

<p>Servant leadership (B)</p> Signup and view all the answers

What does a dialogical approach to ethics emphasize?

<p>Communication before decision-making (D)</p> Signup and view all the answers

In music censorship, who might be considered the antagonistic stakeholders?

<p>Artists whose work is being censored (D)</p> Signup and view all the answers

What can ethical misbehavior in organizations result from?

<p>Pressure and risk-taking behavior (B)</p> Signup and view all the answers

What is an essential responsibility of Boards of Directors in relation to ethics?

<p>Find values that determine acceptable behavior (A)</p> Signup and view all the answers

Which approach to ethics allows for individual discretion in moral judgment?

<p>Monological approach (D)</p> Signup and view all the answers

What is the main purpose of International Non-governmental Organizations (INGOs)?

<p>To hold shared values and advocate for changes in developing countries (C)</p> Signup and view all the answers

What does the Big Mac Index suggest about exchange rates?

<p>The exchange rate should reflect the cost of a Big Mac globally (B)</p> Signup and view all the answers

Which of the following is an example of a cultural misunderstanding in marketing?

<p>Translating slogans directly without considering context (B)</p> Signup and view all the answers

Which characteristic is NOT a main aspect of sustainable strategies?

<p>Limited management involvement (A)</p> Signup and view all the answers

What is the primary focus of a social enterprise?

<p>Addressing social issues using business methods (B)</p> Signup and view all the answers

Why might consumers not always pay more for sustainable products?

<p>Prices and consumer beliefs may not align (D)</p> Signup and view all the answers

What is meant by 'philanthrocapitalism'?

<p>Wealthy individuals using capitalistic methods to address social issues (D)</p> Signup and view all the answers

Which of the following represents a violation of ethical practices in international trade?

<p>Discrimination based on nationality (C)</p> Signup and view all the answers

How does perception affect consumer behavior?

<p>It can create biases influencing product visibility (D)</p> Signup and view all the answers

Which aspect is NOT part of the 4 P’s in sustainable practices?

<p>Price discrimination (B)</p> Signup and view all the answers

What aspect of cultural differences is important in communication?

<p>Body language interpretation varies across cultures (D)</p> Signup and view all the answers

What is a significant risk associated with dumping hazardous materials?

<p>Harm to the environment and public health (B)</p> Signup and view all the answers

Which of the following best describes the term 'Socialization of Capitalism'?

<p>A process aligning business outcomes with societal expectations (B)</p> Signup and view all the answers

What is a key characteristic of passive shareholders?

<p>They do not attempt to influence the corporation's affairs. (B)</p> Signup and view all the answers

Which is a disadvantage of employee ownership?

<p>Employees may face job and pension insecurity. (D)</p> Signup and view all the answers

Which stakeholders are identified as key in a company?

<p>Employees, consumers, competitors, and suppliers. (D)</p> Signup and view all the answers

How has the perspective on work changed among the current generation?

<p>They prioritize life experiences over traditional employment. (A)</p> Signup and view all the answers

What does the Employment Equity Act aim to address?

<p>Promote fair and equal treatment of employees. (B)</p> Signup and view all the answers

What is a primary feature of NGOs?

<p>They often lobby the government for social change. (C)</p> Signup and view all the answers

What is one challenge faced by businesses in relation to social media?

<p>Companies are at risk of losing consumer trust due to misinformation. (C)</p> Signup and view all the answers

What is an ethical concern when businesses engage with educational institutions?

<p>Companies marketing soft drinks to children. (B)</p> Signup and view all the answers

What has contributed to the labor skills shortage in Canada?

<p>Young people opting out of the labor force. (B)</p> Signup and view all the answers

What are the implications of fair trade labeling?

<p>It signifies adherence to sustainable and ethical purchasing practices. (A)</p> Signup and view all the answers

What is a major ethical principle businesses should guide their social media involvement by?

<p>Trust, honesty, fairness, and respect. (B)</p> Signup and view all the answers

Which action is not typically associated with the responsibilities of management regarding the #MeToo movement?

<p>Ignoring reports of misconduct. (C)</p> Signup and view all the answers

Which best describes feminist ethics in the workplace?

<p>Recognizing the importance of supporting pregnant employees. (D)</p> Signup and view all the answers

What essential element is part of corporate social responsibility (CSR)?

<p>Aligning company morals with consumer values. (C)</p> Signup and view all the answers

Flashcards

Corporate Social Responsibility (CSR)

Corporations having duties beyond simply producing goods and services, encompassing social problem-solving and recognizing a broader stakeholder group than just shareholders.

CSR Auditing

A systematic evaluation of a company's social impact, including monitoring, assessing, and reporting on achievements and shortcomings.

Corporate Social Reporting

A collection of information about a company's social, ethical, economic, and environmental performance communicated to stakeholders.

Corporate Reputation

A perception of a company based on past actions and future expectations, shaping public opinion and affecting stakeholder engagement.

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CSR and Profitability

The connection between engaging in CSR practices and potential financial benefits for the company.

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CSR Reporting Best Practices

Strategies for effective CSR reporting, including outlining future goals, engaging stakeholders, and using visually engaging formats.

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The Purpose of Art

Art's power to convey messages, emotions, and perspectives, encompassing diverse mediums like comics, music, and visual arts.

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The CSR of Art

The ethical responsibility of artists and the art community to use their creative expression for positive societal impact.

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Self-censorship

The practice of limiting or controlling what is said or written, often out of fear of censorship or negative consequences.

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Music Censorship

The act of removing or altering content considered offensive, inappropriate, or harmful.

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Canadian Content Laws

A law requiring radio stations in Canada to play a certain percentage of music by Canadian artists.

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Music as Art and Business

The idea that music is both a creative art form and a product that is bought and sold.

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Stakeholders

Individuals or groups who have an interest in or are affected by a business or organization.

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Statement of Values

A set of principles or beliefs that guide an organization's behavior and actions.

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Code of Conduct

A set of rules that specify acceptable and unacceptable behaviors within an organization.

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Code of Ethics

A set of principles that describe a company's ethical values and guide decision-making.

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Ethics Training

Training that educates employees about ethical principles and how to apply them in their work.

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Ethics Audit

A systematic review of an organization's ethical practices and behaviors.

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Ethics Officer

A person responsible for overseeing and promoting an organization's ethical standards and conduct.

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Ethics Committees

A group of individuals within an organization responsible for monitoring and promoting ethical standards and conduct.

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Ethics Reporting Systems

A system that allows employees to report ethical concerns or misconduct anonymously.

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Whistleblowing

The act of exposing wrongdoing or misconduct within an organization, often by an employee who is concerned about unethical practices.

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Managing Business Ethics

The responsibility of a company's board of directors to oversee and promote ethical behavior within the organization.

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Environmental Ethic

A set of values that guide a company's practices related to the environment. It emphasizes ethical treatment of the environment and sustainable practices.

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Sustainable Development

A business strategy focused on minimizing the environmental impact of a company's activities while meeting its present and future needs. It aims for long-term sustainability.

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Environmental Non-Governmental Organizations (ENGOs)

Organizations that advocate for environmental protection and influence corporations to adopt more sustainable practices. They actively push for change through various methods.

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Globalization

A global movement that increases the flow of goods, services, people, and capital across borders. It promotes interconnectedness and interdependence.

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Drivers of Globalization

The driving forces behind globalization. They include market expansion, cost reduction, competition, government policies, and technological advancements.

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World Trade Organization (WTO)

A global organization that promotes free trade by setting rules for international commerce. It aims to reduce barriers to trade and create a level playing field for businesses.

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3E/3P of CSR

A key element of Corporate Social Responsibility (CSR) that emphasizes the ethical, economic, and environmental aspects of business operations.

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Globalization's effect on Government

The impact of globalization on government policies and tax structures. Governments have to adapt to the changing economic landscape and needs of globalized businesses.

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Globalist perspective on Globalization

The argument that globalization is beneficial as it leads to efficient production, higher income, and lower costs in developing countries. Supporters believe it benefits various stakeholders.

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Anti-globalist perspective on Globalization

The argument that globalization has negative consequences, such as job displacement, increased inequality, and exploitation of developing countries. Opponents are critical of its impact.

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Active Shareholder

Shareholders who actively participate in corporate affairs by attending AGMs and exercising their legal rights.

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Passive Shareholder

Shareholders who hold stock but do not actively try to influence the corporation's decisions. They simply receive dividends.

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Employee Ownership

A business model where employees own a significant portion of the company, giving them a stake in its success.

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Employment Equity

A principle that emphasizes fair and equal treatment of all employees, regardless of their background or characteristics.

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Work Ethic

The expectation that individuals should work hard and contribute to society through their labor.

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Gig Economy

A type of work where individuals are employed for short-term projects or gigs, often on a freelance basis.

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Workplace Ethics

Ethical standards in the workplace, including conduct and treatment of employees.

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Feminist Ethics

A set of ethical principles emphasizing caring, empathy, and addressing the needs of the most vulnerable.

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Ethical Consumers

Consumers who prioritize ethical and socially responsible practices when making purchasing decisions.

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Fair Trade

A system of principles and practices aimed at ensuring fair labor conditions and environmental sustainability throughout the production process.

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NGOs (Non-governmental Organizations)

Organizations that operate independently of the government and aim to promote social change or address specific issues.

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Social Media

The use of online platforms to share information, engage in discussions, and build communities.

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Think Tanks

Groups of experts who conduct research and develop policy proposals on various social and business issues.

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Social Context of Business

The combined social, political, and cultural factors that influence business operations and decision-making.

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Transparency in Government

The increased accessibility of information leads to greater transparency in government actions, benefiting both domestic and international stakeholders.

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Civil Society & Information Access

Civil society organizations utilize the increased availability of information to raise public awareness on critical issues like product safety, environmental concerns, and sustainable practices.

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INGOs & Global Advocacy

International Non-Governmental Organizations (INGOs) advocate for positive change in developing countries by influencing corporations and governments. They strive to improve conditions through their shared values and advocacy.

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The Big Mac Index

The Big Mac Index suggests that currency exchange rates should be fair and reflect the actual cost of goods. It compares the price of a Big Mac in different countries to assess relative purchasing power.

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The Power of Perception

Perception is easily manipulated and can create an illusion of reality. Businesses often use this to influence consumer behavior.

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Cultural Differences in Communication

Cultural differences require sensitivity when communicating globally. Language translations and body language vary drastically across cultures, highlighting the importance of understanding diverse interpretations.

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Ethical Standards in Global Business

Ethical considerations are crucial in international business exchanges. Practices like discrimination, human rights violations, price manipulation, bribery, and selling harmful products are strictly prohibited.

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Manufactured Landscapes

Manufactured Landscapes is a documentary that raises awareness about corporate responsibility in a globalized world. It shows the environmental and social impact of industrialization.

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Socialization of Capitalism

The socialization of capitalism is the process where businesses align their practices with societal expectations, promoting social responsibility and desired outcomes.

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The Fourth Sector

The fourth sector represents a collaborative approach between the private, public, and social sectors. It promotes social responsibility and shared values.

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Characteristics of Sustainable Strategies

Sustainable strategies emphasize stakeholders, involve management and boards, and focus on ethical practices. They aim to minimize environmental impact and promote social responsibility.

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Social Enterprises

Social entrepreneurship involves businesses with a primary focus on social good. Their profits are primarily used to address social issues and create positive change.

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Philanthrocapitalism

Philanthrocapitalism involves wealthy individuals and institutions using their resources to address global challenges and promote sustainable development.

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Sustainable Capitalism

Sustainable capitalism emphasizes long-term value creation and responsible resource management. It prioritizes quality and durability over cheap, disposable products.

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The 4 Ps of Sustainability

The 4 Ps of Sustainability emphasize product impact, ethical processes, diverse people, and environmental responsibility. It encourages businesses to consider their holistic impact.

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Study Notes

Corporate Social Responsibility (CSR)

  • CSR extends beyond profit, encompasses social issues, and considers stakeholders beyond shareholders.
  • Corporate Social Reporting (CSR) involves auditing social impact, assessing and evaluating impacts on society, and communicating with stakeholders.
  • Honest reporting includes acknowledging mistakes and outlining solutions.
  • Social reporting incorporates ethical, economic, and environmental considerations.
  • Corporate reputation reflects past actions and future prospects, impacting image and appeal to stakeholders.

CSR and Profitability

  • Studies suggest a link between CSR initiatives and profitability.

CSR Reporting Best Practices

  • Future plans and trends analysis.
  • Identifying stakeholder engagement methods.
  • Reporting on trends, risks, challenges, and opportunities.

The Art of CSR Reporting and CSR of Art

  • Art, in various forms, can convey messages, evoke emotions, and provide entertainment.
  • Different art forms evoke various emotions and opinions.
  • Artistic expression often presents freedom of expression, though not absolute.
  • Self-censorship may apply in certain circumstances (examples of children viewing inappropriate material).
  • Issues of music censorship include protecting children, but also limit creativity and expression.

Canadian Content Regulations for Music

  • Canadian laws mandate specific airplay for Canadian artists, especially during certain hours.
  • These laws aim to protect Canadian culture and artists.
  • Musicians with Canadian residency qualify under this law.

Ethics of Business Management

  • Ethical Leadership: Communicating standards and encouraging ethical conduct, and leadership that involves concern for others, motivation to lead, and meeting the needs of others.
  • Statement of Values: Description of the organization's principles. Advantages include focusing on quality, work environment, and interests of stakeholders.
  • Codes of Conduct: Rules specifying acceptable and unacceptable behaviors, enforced by external authority. Codes of Ethics: Value systems guiding general behavior, self-imposed.
  • Ethics Training: Educates employees about ethical policies and decision-making.
  • Ethics Audits: Systemic efforts to detect unethical behavior. Ethics officers and committees monitor ethical standards and behavior.
  • Ethics Reporting Systems and Whistleblowing: Establish reporting methods for ethical concerns, allowing employees to report issues without fear. Addressing challenges for whistleblowers.
  • Responsibilities of Boards of Directors: Establish shared values that govern behaviors and ensure those values guide actions in practice.
  • Approaches to Ethics Programs: Formal (based on organizational norms), Monological (managerial decisions on ethical issues and dilemmas), Dialogical (promoting communication before implementation).
  • Benefits of Ethics Programs: Positive societal impact, better public image.

Governance and Social Context of Business

  • Ownership of Canadian businesses: Various stakeholders, including investors, and employees, consumers, government, civil society, have roles and rights.
  • Passive vs. Active Shareholder: Distinctions between investors with limited participation and those actively influencing corporate affairs.
  • Employee Ownership: Pros (increased morale, loyalty, potential to save firms) and cons (job and pension dependency and absence of majority ownership).
  • Key stakeholders in employee workplace include ethical conduct, government legal requirements, and workplace conditions and treatment.

Social Context of Business: Society and Civil Society

  • 4 Key Stakeholders: Employees, consumers, competitors, suppliers.
  • The Work Ethic and its Changes: Shifts in work ethics, from consistent 8-hour days to gig economies and prioritizing quality of life.
  • Employment Equity: Importance of fair and equal treatment in employment.
  • #MeToo and Business: Addressing workplace misconduct, enhancing reporting mechanisms, and implementing training programs.
  • Feminist Ethics in the Workplace: Addressing issues like pay during maternity leave and workplace issues.
  • Consumer Concerns about CSR: Ethical consumerism, importance of transparency and corporate alignment to consumer values (e.g., fair trade certification).

Global Environment

  • Globalization: Increasing flow of goods, services, people, and money across borders.
  • Drivers of Globalization: Market trends, cost considerations, competition, government policies, and technological advancements.
  • WTO's principles: Promoting free and fair trade.
  • Effects of globalization on governments, civil society, INGOs, and cultural differences.
  • Risks and ethical issues including human rights violations, price discrimination, bribery, selling hazardous products (GMOs, tobacco, tainted foods), and environmental damage.

Sustainability

  • Socializing Capitalism: Businesses adapting to societal expectations for desired outcomes.
  • Fourth Sector: Non-business organizations contributing in parallel to the traditional sectors (public, private).
  • Characteristics of sustainable strategies: Stakeholder focus, management involvement, and board involvement.
  • Extended Producer Responsibility: Considering the entire product life cycle, from origin to disposal.
  • Challenges of cost associated with sustainable products.
  • Social Enterprises: Businesses primarily focused on social service, with profits directed to social causes (like value villages).
  • Philanthrocapitalism and Sustainable Capitalism: Concepts of wealthy individuals contributing to social and environmental causes. "4Ps" for examining sustainable products, processes, people, and planet.

Manufactured Landscapes

  • Film focused on global manufacturing structures and environmental/social consequences.

Frequently Asked Questions (Based on provided quiz questions)

  • Landscapes Not Captured: The film focuses on extracted, manufactured landscapes, not recycling, e-waste, or melting ice caps.
  • Computers in China: Percentage of world's discarded computers ending up in China not explicitly mentioned, but there is detail regarding discarded electronics in China.
  • Zhejiang & Fujian Provinces: Residents were destroying contaminated computer monitors.
  • Tan Yanfang's Assembly Rate: Unknown.
  • Ship Welder/Dismantler Safety Equipment: Not determined, although there are instances shown that are not stated directly.
  • Destination of Ships to Die: Primarily focus on certain regions in South East Asia, not exclusive to a single location.
  • Three Gorges Dam Worker Earnings: Ranges not determined.
  • Resettlement for Dam: A significant number of people were displaced for the Damming project.
  • Agrarian/Urban Population Shift: The shifting population towards urban areas over time is illustrated, but specific percentage figures not stated.

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Description

This quiz explores the key concepts of Corporate Social Responsibility (CSR), including its impact on society and profitability. It also covers best practices for CSR reporting and the integration of art in conveying CSR messages. Test your knowledge on the ethical, economic, and environmental considerations of CSR.

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