Key Terms - Corporate Social Responsibility
Altruistic CSR:
Organizations take a philanthropic approach by underwriting specific
initiatives to give back to the company’s local community or to designated
national or international programs.
Corporate Citizenship:
An alternative term for corporate social responsibility, implying that
the organization is a responsible citizen in meeting all its obligations.
Corporate Conscience:
An alternative term for corporate social responsibility, implying that
the organization is a responsible citizen in meeting all its obligations.
Corporate Social Responsibility: The actions of an organization that are
targeted toward achieving a social benefit over and above maximizing profits
for its shareholders and meeting all its legal obligations.
Ethical CSR: Organizations
pursue a clearly defined sense of social conscience in managing their financial
responsibilities to shareholders, their legal responsibilities to their local
community and society as a whole, and their ethical responsibilities to “do the
right thing” for all their stakeholders.
Instrumental Approach:
The perspective that the only obligations of a corporation is to
maximize profits for its shareholders in providing goods and services that meet
the needs of its customers.
Social Contract Approach:
The perspective that a corporation has an obligation to society over and
above the expectations of its shareholders.
Strategic CSR:
Philanthropic activities are targeted toward programs that will generate
the most positive publicity or goodwill for the organization.
Source: Ghillyer_Business Ethics A Real World Approach 2e
