Corporate Social Responsibility (CSR) Actual Exam Study Questions with Verified Answers | Latest Edition

Corporate Social Responsibility (CSR) Actual Exam Study Questions with Verified Answers | Latest Edition 1. Corporate social responsibility (CSR) - ANSWER Concept that a corporation has an impact on the lives of its stakeholders and the environment, encompassing such areas as corporate governance, philanthropy, sustainability, employee rights, social change, volunteerism, corporate-sponsored community programs, and workplace safety. 2. CSR Maturity Curve Steps - ANSWER 1. Compliance Integration Transformation 3. CSR Maturity Stage: Compliance - ANSWER Defensive mechanism, sees social responsibility as a cost of doing business. A tactical response to regulatory requirements or negative publicity. 4. Sustainability sweet spot - ANSWER The place where an action can fulfill expectations in all three categories - It benefits people, the environment, and the organizations budget. 5. Triple bottom line - ANSWER Economic, social, and environmental impact metrics used to determine an organization's success. 6. Global Reporting Initiative (G4) - ANSWER Provides a near universally accepted guidance document for sustainability reporting. 7. Social Audit - ANSWER Formal review of an organizations social and environmental policies and procedure. Primarily a tool for self-evaluation, resembles 360 review (internal and external stakeholders involved). 8. Code of conduct - ANSWER Principles of conduct within an organization that guide decision making and behavior; also known as code of ethics. 9. Process Evaluation - ANSWER Monitors components and outputs. Purpose is to monitor which program activities are actually performed and what there outputs are. 10. Outcomes Evaluation - ANSWER Aims to determine the actual results achieved by the program 11. The OECD Guidelines - ANSWER Adherence is voluntary and not enforceable by government. They cover the following areas - disclosure and transparency, workforce relations, environment, combating bribery, consumer interests, application of and access to science and technology. 12. United nations global compact - ANSWER Principles to be reported on annually on its progress in regards to these areas - Human rights, labor, environment, anti corruption. Has 10 principles. 13. Caux Principles - ANSWER Set of international business standards based on human dignity and "kyosei" (living and working together for a common good). These principles emphasize respect for rules, the environment, and stakeholders. Created by business leaders in US, Japan, and Europe. 14. ISO 26000 - ANSWER Quality standard that provides guidance on key themes of social responsibility. 15. SA8000 - ANSWER A certifiable standard focusing on human rights and labor relations, providing both process and performance criteria. Can extend to supply chains as well. Based on United Nations and International Labor Org standards. 16. KPMG annual report on CSR/sustainability reporting - ANSWER Provide detailed examination of the extent of reporting worldwide, what is being reported on, and the quality of those reports. 17. CSR Maturity Stage: Integration - ANSWER CSR infused into the regular functioning of the business. Redesigned products, processes, procedures, etc. to be more responsible and sustainable. 18. CSR Maturity Stage: Transformation - ANSWER Organizations have redefined themselves, their brand, to reflect commitment to CSR. Becomes apart of their strategy to differentiate themselves from competitors. 19. Benefit Corporation (B Corp) - ANSWER Are for-profit companies certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. At the top of the CSR maturity curve (transformation) 20. EVP - ANSWER Answers "Why would a talented person want to work for this organization?". Must be aligned with corp strategic plan, mission, vision, and values. And create an image that attracts people. 21. Ethics - ANSWER A set of behavioral guidelines that an organization expects all of its manager, directors, and employees to follow to ensure appropriate moral and ethical business standards. Focuses on acting according to "core ethical beliefs and convictions"