A company earns its “license to operate” through filing its proper legal documents.
According to The Economist, corporate citizenship is becoming increasingly important for the long-term health of companies.
An emerging trend in corporate reporting is the integration of legally required financial information with social and environmental information into a single report.
Companies whose citizenship profile best matches public expectations are least likely to benefit from strategic investments in corporate citizenship.
Corporate citizenship partnerships can exist between companies and stakeholders in other countries.
Corporate citizenship primarily focuses on a firm’s social activities.
Global corporate citizenship activities help companies create legitimacy, reputation, and competitive advantage.
Global corporate citizenship refers to putting an organization’s commitment to social and environmental responsibility into practice locally.
If a company acknowledges the need to build more coherent initiatives, it is in the innovative stage of becoming a corporate citizen.
In the first stage of corporate citizenship, the elementary stage, managers are uninterested and uninvolved with social issues.
Robert Civita, chairman and CEO of the Brazilian Abril Group, has defined global corporate citizenship as “socialism with a conscience.”
Social audits look at what an organization does, not at the results of the actions.
The basis for corporate citizenship does not rely on the generosity of a firm’s senior management or their awareness of their role as trustees of the public’s interests.
There is no single universally accepted method for designing a CSR management structure.
Triple bottom line reporting requires that a firm report financial data.
systems used by a business to ensure compliance with an industry or global set of standards
choosing a configuration of citizenship activities that fits the setting in which the company is working
corporate social reporting
the public reporting of information collected by the organization or another party during a social audit
department of corporate citizenship
a department created in a business to centralize under common leadership wide-ranging corporate citizenship functions
global corporate citizenship
refers to putting an organization’s commitment to social and environmental responsibility into practice worldwide
a systematic evaluation of an organization’s social, ethical, and environmental performace
determined by assessing the company’s social benefits and costs, as revealed by a social performance audit
clear public reporting of an organization’s performance to various stakeholders
triple bottom line
the measurement of an organization on the basis of its economic results, environmental impact, and contribution to social well-being