Vocabulary
A business model in which companies integrate social and environmental concerns in their operations and interactions with stakeholders.
CSR
Corporate efforts to promote the welfare of others, usually through charitable donations of money, goods, or services to support social causes.
Philanthropy
The deceptive practice where a company falsely promotes their products, services, or policies as environmentally friendly, when in fact, they are not.
Greenwashing
A social movement and certification process that ensures businesses pay fair wages and maintain safe working conditions, particularly in developing countries.
Fair Trade
Name three of the six types of businesses we discussed earlier in the year.
Sole Proprietor, Partnership, LLC, Franchise, Corporation, Non-Profit
The practice of operating in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs. In CSR, this refers to environmental, social, and economic sustainability.
Sustainability
A company's commitment to ensuring its employees' physical, mental, and emotional health through fair labor practices, benefits, and supportive workplace environments.
Employee Well-being
The effect that a company’s operations or products have on the well-being of individuals, communities, and society as a whole.
Social Impact
The idea that businesses should act as responsible members of society, contributing positively to communities and the environment beyond profit-making.
Corporate Citizenship
Who is the franchise?
A. Subway
B. Donut Delight
C. Stamford Hospital
A. Subway
Individuals or groups that are affected by or have an interest in a company's operations. This includes employees, customers, suppliers, shareholders, communities, and the environment.
Stakeholders
Principles and standards that guide businesses to act with integrity, fairness, and responsibility toward their stakeholders.
Ethical Business Practices
The total amount of greenhouse gases, particularly carbon dioxide, emitted by a company’s activities, including its production, transportation, and energy use.
Carbon Footprint
A business approach that seeks to create economic value while simultaneously addressing societal challenges and contributing to the well-being of communities.
Shared Value
What does CEO stand for?
Chief Executive Officer
A company's openness about its operations, decisions, and practices, particularly in its dealings with stakeholders and the public.
Transparency
Corporate policies and practices that promote equal opportunities and an inclusive environment for employees of all backgrounds, including race, gender, sexual orientation, and disabilities.
Diversity and Inclusion (D&I)
A set of criteria used to evaluate a company’s operations regarding environmental sustainability, social responsibility, and ethical governance.
ESG (Environmental, Social, Governance)
A framework for evaluating a company's performance based on three dimensions: profit (economic), people (social), and planet (environmental). Also known as "3 Ps."
Triple Bottom Line
True or false. If something is unethical, that makes it illegal.
False
The ethical management of the entire production and distribution process, ensuring that practices across all levels (including suppliers) adhere to labor laws, environmental regulations, and ethical standards.
Supply Chain Responsibility
Responsibility taken by businesses to manage and reduce their environmental impact by conserving resources, reducing pollution, and promoting sustainability.
Environmental Stewardship
The practice of ensuring that the products and materials a business acquires are produced in a socially responsible and sustainable manner.
Ethical Sourcing
The system of rules, practices, and processes by which a company is directed and controlled, ensuring accountability and fairness in a company's relationship with its stakeholders.
Corporate Governance
Who has a higher net worth, Michael Jordan or Barack Obama?
Michael Jordan