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CSR and Ethics

AB
EconomicThis component of CSR is being profitable and not a drain on society. Includes paying a fair wage and paying taxes
LegalThis component of CSR is abiding by the laws that regulate your business
PhilanthropicThis component of CSR is what a company contributes to the community in away that is meaningful for the company and it’s brand.
EthicalThis component of CSR is doing the right thing at all levels of your business. This includes internal processes and how the company’s actions may impact the environment
Corporate Social Responsibilitythe recognition that business activities have an impact on society and the consideration of the impact in business decision making
Triple Bottom Lineis an accounting framework with three parts: social, environmental (or ecological) and financial. Or People, Environment, Profits
Culturea way of life of a group of people--the behaviors, beliefs, values, and symbols that they accept
Corporate Culturethe shared values, attitudes, standards, and beliefs that characterize members of an organization and define its nature
Profitfinancial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes
Ethicsthe study of right and wrong and the morality of choices individuals make
Business Ethicsthe application of moral standards to business situations
plagiarismknowingly taking some else's words, ideas, or other original material without acknowledging the source
Code of ethicsa guide to acceptable and ethical behavior as defined by an organization
B-Corpbusinesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability
ProductivityA measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.
SustainabilityUsing the triple bottom line to maintain profitability while supporting the community and the environment


Business Teacher
Spaulding High School
Barre, VT

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