商务英语 Level 6 Unit 2 Part 1 Vocabulary【CSR Terminology】

发布网友 发布时间：2023-04-28 19:00

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热心网友 时间：2023-10-29 15:35

Corporate social responsibility, or CSR, is the idea that a company should help the environment and society.
Through CSR programs, businesses can contribute to society while also boosting their own image.
Depending on the company, CSR can take on many forms, like philanthropicgiving.

philanthropy
Philanthropy is when a corporation donates money to a causeor organization that helps people.
Corporate philanthropy is a common approach to CSR.
Typical forms of corporate philanthropy include monetary donations and aid given to non-profit organizations and deprivedcommunities.
For example, PepsiCo has a program called Food for Good, which donates healthy meals to children.

haloeffect
The halo effect is a favorable perceptionpeople have of a company.
If a company has halo effect, customers will overlook its negative aspects in favor of its positive ones.
When a company engages in CSR, it can create halo effect for itself.
This can improve customer loyalty and give a company a reputation for social responsibility.

triple bottom line
The triple bottom line refers to people, planet, and profit.
Companies engage in CSR because they believe the well-being of people, the planet, and the company are interrelated.
People refers to the human capital bottom line.
It calls forfair labor practices and beneficial business practices toward the community where the business operates.
Planet is the environmental bottom line.
It calls for sustainable environmental practices as well as reversing the damage done to the environment.
Profit is the economic bottom line.
It refers to economic value created by the organization.