Understanding Social Responsibility (Grade 12 NSC Matric Business Studies): Flashcards
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Practise the cards
10 cards from this deck
Social responsibility definition
Social responsibility definition
Duty to contribute positively to community & environment
Triple bottom line (TBL)
Triple bottom line (TBL)
Measuring success via 3 areas: People, Profit, Planet
The 3 P's of TBL
The 3 P's of TBL
People, Profit, Planet
Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR)
Organising operations to positively impact all stakeholders
Corporate Social Investment (CSI)
Corporate Social Investment (CSI)
Using company funds/assets to create positive social outcomes
Stakeholders
Stakeholders
Individuals/organisations with direct/indirect business connection
People pillar of TBL
People pillar of TBL
Social impact: avoid harm, invest in sustainable community programmes
Profit pillar of TBL
Profit pillar of TBL
Economic impact: don't focus solely on financial gain
Planet pillar of TBL
Planet pillar of TBL
Environmental impact: don't exhaust resources, be eco-friendly
4 ways businesses contribute to communities
4 ways businesses contribute to communities
Charitable donations, education, local employment, volunteering