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BUS223

Chapter Five Key Terms

TermDefinition
Corporate Social Responsibility The responsibilities that businesses have to the societies within which they operate.
Corporate Sustainability Report Report that provides all stake-holders with financial and other information regarding a firm's economic, environmental, and social performance.
Economic model of CSR Limits a firm's social responsibility to the minimal economic responsibility of producing goods and service and maximizing profits within the law.
Integrative model of CSR For some business firms, social responsibility is fully integrated with the firm's mission or strategic plan
Philanthropic model of CSR This model of CSR suggests that business is free to contribute to social causes as a matter of philanthropy or charity, but has no strict obligation to contribute to social causes.
Reputation Management The practice of caring for the image of a firm.
Social entrepreneurship A movement that seeks to address social problems through the creativity and efficiency of market forces.
Social web model of CSR The view that business exists within web of social relationships. The social web model views business as a citizen of the society in which it operates.
Shareholder theory A model of corporate social responsibility that holds that business managers have ethical responsibilities to a range of stakeholders that goes beyond a narrow view that the primary or only responsibility is to stockholders.
Created by: 13rallie
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