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Summary Business English 3 terms
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Concepts include the following topics: - Intro CSR - Planet - People - Profit
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Business English 3Intro CSR
Shareholder primacy: This is a model in companies where shareholders are the most
important stakeholder. They are given priority and are first in the
line. The main raison fort his is that they bear the risk by investing
money. Making short term profit.
Worker representation: This gives employees a voice in the management. They can therefore
represent themselves and participate in negotiations.. It’s about
workers represented in the board of directors
Stakeholder capitalism: Model in which all stakeholders are important. Stakeholders are the
government, employees, shareholders, nature etc. The focus here is
on all stakeholders and not just on the group of shareholders
(shareholder primacy). This system would contribute to long-term
value and increase the value of the corporation.
Impact assessment scores: Evaluate the impact that a company has on the environment and
society and that results in a score.
American Business Roundtable: An association of CEO’s of the biggest American corporations. They defend
the interest of this big corporations.
Capitalism 1.0: Making as much profit as possible in order to pay out the highest possible
dividend to shareholders. This profit mentality led to innovation, lower
prices etc.
Capitalism 2.0: More attention for the customers themselves instead of the shareholders.
Companies also have other social goals such as reducing climate change.
Multi-stakeholder model: Is a structure that brings key stakeholders together such as suppliers
and governments to engage in a dialogue about current problems.
They are involved in decision making.
Carbon footprint: The ecological footprint indicates how much a person, country or
product has an impact on the earth. This is determined by, for
example, energy consumption and waste.
Greenwashing: A company that presents itself as environmentally friendly but they
aren’t in reality.
A gig economy: In a gig economy, the emphasis is on temporary work. Companies
work with freelancers and consultants instead of full-time employees.
For this they use online platforms, such as upwork.com. This is used
for web-design, data entering and is cheaper for the company.
The human cloud: Human cloud is a term in which employees and employers find each
other via an online platform. These platforms not only help
employees to find a job or employers to find workers, but also help
companies to manage their workforce. This is mainly about
temporary work and flexibility is very important here.
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