Corporate Social Responsibility Considerations (VCE SSCE Business Management): Flashcards
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What does CSR stand for & mean?
What does CSR stand for & mean?
Corporate Social Responsibility - being socially accountable
CSR key principle re: legal requirements
CSR key principle re: legal requirements
Operate above minimum legal requirements, not just follow law
Define environmental audit
Define environmental audit
Systematic examination of business environmental impacts
Act regulating environmental marketing claims
Act regulating environmental marketing claims
Competition and Consumer Act 2010
5 CSR areas in business plan
5 CSR areas in business plan
Environment, community, risks, strategies, action plan
Who are stakeholders?
Who are stakeholders?
Employees, customers, investors, suppliers, community
Define ethical sourcing
Define ethical sourcing
Obtaining materials/products from responsible suppliers
What must back environmental claims?
What must back environmental claims?
Verifiable scientific data/evidence
Name 3 benefits of CSR
Name 3 benefits of CSR
Enhanced reputation, customer loyalty, attract talented staff
Consequences of ignoring CSR (name 3)
Consequences of ignoring CSR (name 3)
Legal penalties, reputation damage, financial losses