Summary Introduction to Business Management, ISBN: 9780195992519 MNB 1501-Business Management 1A
Summary Introduction to Business Management, ISBN: 9780195992519 MNB 1501Business Management
Summary Introduction to Business Management, ISBN: 9780195992519 MNB 1501Business Management
All for this textbook (17)
Written for
University of South Africa (Unisa)
MNB 1501Business Management
All documents for this subject (17)
Seller
Follow
vanrhynavrame
Reviews received
Content preview
1.Corporate social responsibility
1.1.Key concepts
Corporate social responsibility, corporate citizenship, triple bottom line, citizenship
imperative, stakeholder mapping, stakeholder engagement, corporate governance,
business case for implementing CSR, sustainable development
1.2.Introducing CSR
1.3.Terms and trends
LO1: Distinguish between the different terms and concepts in the field of CSR.
Triple bottom line
Financial, social & environmental impact of business
Sustainable development
Need to improve lives of poor people & protect natural environment. Development that
meets the needs of the present without compromising the ability of future generations to
meet their own needs.
Corporate social responsibility (CSR)
AKA corporate citizenship. How business make profits, including ethics
Corporate social investment (CSI)
Companies’ philanthropic initiatives. Spending small part of profits on good causes. Only
one component of CSR
Sustainability reporting
Increasing expectation – companies not only report on financial matters. Social &
environmental matters as well.
Corporate governance
How Company objectives, strategy & decision making structures are developed,
implemented and monitored. Extent to which company is accountable to stakeholders
1.4.Citizenship imperative
LO2: Discuss the imperatives for good CSR in SA.
1.4.1.Global drivers
• Pressure on companies to demonstrate good social corporate responsibility practices
o United Nations Global Compact
o Global Reporting Initiative (GRI) – reporting guidelines & indicators
, o AA1000 Framework – establish systematic stakeholder engagement
process that generates indicators, targets & reporting standards to ensure
effectiveness in overall organisational performance.
o ISO14000 – International standards
o Organisation for Economic Co-operation and Development (OECD) –
Guidelines on Multinational Enterprises
o SA8000 – Labour conditions (Social Accountability International)
o Dow Jones Sustainability index
o Kyoto Protocol
1.4.2.SA Initiatives & imperatives
• Legislation
• King Code on Corporate Governance
• JSE Socially Responsible Investment Index (criteria to measure the triple bottom line
performance of companies in FTSE/JSE All Share index who choose to participate)
• Industry charters (promote socioeconomic transformation & create equitable
economic playing field)
1.5.Business case for CSR
Being a good corporate citizen can contribute to a company’s profitability
Benefits of CSR:
• Savings resulting from energy-savings technology
• Positive reputation resulting in client loyalty, attracting higher-quality employees and
improving relationships with investors
• Competitive advantage and value creation.
• Investor confidence – access to capital
• Revenue growth & market access
• Risk management & licence to operate
• Brand value & reputation
SWOT analysis (Strengths, Weaknesses, Opportunities, Threats)
Threats Opportunities
BEE Legislation • Lower • Empowerment of
competitiveness disadvantaged
(appointment of individuals
lower skilled • Increased
persons) competitiveness ito
• Less investor government
confidence business
• Investor’s
confidence in
company’s ability
to manage change
& retain profits
HIV/AIDS • productivity • Positive
• medical costs contribution to
• Lack of continuity employee wellness
• Developing
partnerships with
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller vanrhynavrame. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.66. You're not tied to anything after your purchase.
