CSR & You - CORRECT ANSWER- *Social Responsibility:*
1. Can you manage *money*?
2. Can you manage *people*?
3. What have you done on the *social responsibility space*?
Language Check: Terms Company Use - CORRECT ANSWER- - *Current:* 50% of
companies use sustainability as umbrella
- *Used to be:* 25% of companies use CSR as umbrella (most financial and consulting
companies use CSR)
-ALL have same meaning
Michael Hastings (KPMG) - CORRECT ANSWER- - Opportunity everyone has in an
organization and a positive contributor to needs of comunities around them
- Incentives: sense of delight to person working in organization feels during their
participation; sense of pride they feel that company involved in CSR
- When there is a connection between company, individuals and contributing to the world,
there are opportunities
,- Move from philanthropy to understanding impact and giving time to causes
- Constructing resumes: include CSR
B-lab Corporation Example - CORRECT ANSWER- - Past: shareholder model (20th
century)
--> every decision was made with the shareholder's best interest
- Future: stakeholder model (21st century)
--> addressing needs of the stakeholders
- Shareholders still matter in stakeholder model
-B-corp = benefits corp
--> formed for a social purpose, ex: Uniliever
--> 1. legal form: profits --> cause
--> 2. B form: formed with a stakeholder mission
Warby Parker & Corp Video - CORRECT ANSWER- -brand of glasses --> for every pair
sold, one is given to someone in need
-private, for-profit company with a social mission
-create meaningful change
Responsibility - CORRECT ANSWER- - The ability or authority to act or decide on one's
own *without supervision*
-Can you do the right thing?
**overall theme of class!!**
Responsible Leadership: Financial Times Definition - CORRECT ANSWER- Making
business decisions that *take into account stakeholders*, such as workers, clients, suppliers,
the environment, the community and future generations.
Walmart Case - CORRECT ANSWER- - Sam, founder of Walmart: offered profit sharing,
bonuses, stock options for employee, customer centered culture, "ten foot rule" (customer
within 10 feet of employee greeted)
,- Buy American Plan: restored 4538 jobs to American economy, although was abandoned
later
- Environmental Awareness campaign: shelf tags made from recycled paper, increased
customer awareness, community recycling bins, tree planting, clean ups
- Walmart issues: labor practices, bribery scandal in Mexico, fire in Bangladesh, buy
American more often, hyping American success story
Walmart/Katrina Example - CORRECT ANSWER- - 126 stores ruined in hurricane
- Before hurricane, shipped all kinds of supplies ahead of time
- Ready to move in day after hurricane - before FEMA
- Offered jobs to people elsewhere until stores reopened
-Walmart wanted to take care of: people, operations and community
- 300 million into fixing community
- Katrina was turning point - need to start thinking differently and adopt stakeholder model
-large companies can do really goods things, but there's no such things as a perfect company
Who Saved... - CORRECT ANSWER- -Who saved New Orleans?
--> The business community
-Who saved Houston?
--> Everyone --> way fewer deaths
-Walmart and Sam's Club in the US --> massive distribution centers everywhere
Walmart Pros - CORRECT ANSWER- *Pros:*
- Customers
- Largest company
- 10,800 stores, 27 countries
- Employees
- 2012: $1 billion in cash and 2.2 million hours
- Sustainability drives (zero waste, 100% renewable energy, product innovation)
- Saved the Gulf
, Walmart Cons - CORRECT ANSWER- *Cons:*
- Downtown declines
- Green becomes pavement
- Consumerism - buy and move stuff
- Closed culture led many activist to fight company
- Workforce issues (wages, over time, gender)
- Legal issues (63 class action suits, most sued company)
- Bribery scandal in Mexico in 2012
What Makes You a Good Citizen? - CORRECT ANSWER- - Voting
- Paying taxes
- Community service
- Demonstrates values
- Show respect
- Open minded
- Responsible
- Follow laws
- Care for public goods
- Jury duty
- Act with integrity
- Donate time/cash
- Constitution
- Recycle
- Be productive
- Environment
**this list for individuals is the *exact same* list for corporations
Good Citizenship - CORRECT ANSWER- - Individual and corporate citizenship look the
same
- Every company has positive and negative
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