How does SHRM view corporate social responsibility?
- A strategic way of doing business and a recruitment, engagement, and marketing tool
How does the following terms’ definition broadened?
- CSR
- Sustainability
- Bottom line
- Stakeholders
- CSR has changed from compliance to strategic
- Sustainability has evolved from only ecological concerns to being a good steward of all corporate resources
- Bottom line is not just money but the triple bottom line of people, profits, and planet
- Stakeholders are not just shareholders but all those affected
How can financial profits be sustainable?
- Long-range focus allows customers the ability to acquire goods at reasonable prices so they can continue to purchase
What is the sustainability sweat spot?
- Where business and public interests intersect to generate new business opportunity
What are the three phases of a sustainability maturity curve?
- Compliance (defensive)
- Integration (strategic)
- Transformation ( values-based to point organization exists to have a position impact and product or service provided is secondary)
What is the difference between a sustainability annual report and a social audit?
- One is for external marketing and the other for internal self-evaluation
What is the more common term for full cost accounting and true cost accounting?
- Triple bottom line(Global Reporting Initiative)
What is the world’s largest developer of voluntary global standards?
- ISO (International Organization for Standardization)
What is the standard for global reporting of sustainability?
- GRI G4 (reports on “material aspects “ = significant to business impacts and stakeholder assessments)
What is critical when presenting a business case for Corporate Social Responsibility (CSR)
- Tied to (framed) to specific organization’s organizational goals
Why is relationship management an important HR competency for sustainability?
- Because all stakeholders must be in the loop at every step of the process
What is the difference between compliance and ethics?
- Compliance = rules
* Ethics = values
Good governance is built into Corporate Social Responsibility (CSR) process by what two things?
- A values-based written code of conduct and a compliance program
Why does HR need to try to reconcile ethical universalism and ethical relativism?
- The assumption that ethical principles are the same everywhere may actually be an ethnocentric perception but if everything depends on local culture, a branch could violate its core values
In a multicultural ethics decision tree, what must be considered?
- Is the practice just different and/or is the country practicing it at a different stage in its development?
What is HR’s role regarding the ethics of an organization’s supply chain?
- Due diligence because an organization can be held accountable for its suppliers’ practices. Generally, vendors should have standards like organization regarding D&I, environment, etc,
What is the difference between privacy and confidentiality?
- Privacy = freedom from intrusion
* Confidentiality = how personal information already disclosed is treated
How might standardization vs. responsiveness impact philanthropy?
- Choice to support one charity globally would mean greater impact but allowing branches to support their own charities would mean greater breadth
Why should an organization have a code of conduct and what will make it clear?
- Code of conduct gives a framework that forces intentional thought and decision-making
- What makes it clear is specific examples
