Fichas
Ethics and CSR
Fichas del conjunto (16)
- 1What is SRI?Refers to the socially responsible behavior exhibited while decision making
- 2What is CSR?An enterprise taking into account the impacts of its activities on stakeholders and balances longer term societal impacts against short term financial gains.
The impact of a businesses actions on society
Extension of stakeholder theory - 3What does CSR include?Social responsibility
Environmental responsibility
Commitment to employees
Commitment to stakeholders - 4What is CSR Reporting?The provision of information about the performance of an organization in relation with its social and environment. Factors such as interaction with the local community, support for developing countries, OH&S, training and employment programs and environmental performance
- 5What is stakeholder theory?Rejects the view that the sole important r/ship is between shareholders and owners and considers a broader perspective including employees, government, society, suppliers and customers etc
- 6What are the 3 incentives for companies to disclose CSRBelieves the public expects it to
Believes a failure to do so would result in undesirable consequences
OR
It genuinely believes it will add value to the organization and help its financial performance - 7What is the public motivation?Companies are encouraged by social and environmental/lobby groups to act in a socially responsibly manner.
The propensity for the financial media to praise socially responsible companies and pressure those who aren't to act.
Ratings agencies - 8What is avoidance of undesirable consequences?By taking voluntary action to improve corporate conduct, corporations ma forestall regulatory measures to control their conduct and behaving without regard can cause immense commercial damage
- 9Value adding motivationMany high value companies such as Westpac, BHP, ANZ and NAB now subsribe to the view that CSR activities are value adding eg for global expansion, reputation & competitive advantage, risk management, ROI and attraction and retention of talent
- 10Examples of CSR initiativesEThics programs
employment policies
Green policies
Quality Standards
Environmental standards
Customer focus
Safety standards
Employees volunteering on company time - 11What responsibilities do company directors have in regard to common lawObligation to act in the best interest of the entity ie shareholders - there is no specific acknowledgement that directors have an obligation to the wider community
- 12What responsibilities do company directors have in regard to legislationConsistent with common law
- 13What responsibilities do company directors have in regard to shareholder rightsVery few shareholders hold voting rights pertaining to matters on CSR so do not have a direct influence
They can however exercise their right to sell their shares though - 14What responsibilities do company directors have in regard to the ASXIn the ASX corporate governance principles and recommendations 2010 two of the eight principles make specific reference to the importance of stakeholders - Principle 3 - consider the reasonable expectations of stake holders and principle 7 which addresses the risk management of companies
- 15What are the two main reasons people invest in SRI?An ethically good thing to do/investors really believe in it and
The belief that it earns an appropriate financial return - 16ConclusionEmpirical research suggests that individual companies can benefit from engaging in CSR activities and also investors do not necessarily pay a financial premium investing in companies with strong CSR activities
Información
- Descripción
- Tertiary Ethics Fichas sobre Ethics and CSR, creado por Lisa Tatham el 29/09/2015.
- Creado por
- Lisa Tatham
- Visitas
- 5
- Valoración