Business and Society: Chapter 18
pros of civic engagement
-enhanced reputation, able to respond to stakeholders -avoid/correct problems caused by their operation -win loyalty
community
a company's area of business influence
civic engagement
active involvement of business and individuals in changing and improving communities: way to fulfill CSR
value creation
benefits to the business of the program
collaborative partnerships
collaboration between business, government, and civil society
license to operate
communities accept the business and they get "the right to do business" by society
strategic philanthropy
corporate giving that is linked directly or indirectly to business goals and objectives (both a business and society benefit)
Areas of aid
economic development housing aid to minority, women, disables, veteran, owned enterprises, disaster, terrorism, war relief
focus of strategic contributions
factor conditions: workers, infrastructure, natural resources demand conditions: those that affect demand context for strategy and rivalry: support policies that create a more competitive environment related an supporting industries
in-kind contribution
gifts of products or services
corporate foundations
handle a company's charitable programs -adminster contribution programs more uniformly -central group of professionals to handle grants
measuring social investment
inputs, outputs, impacts
types of community for business
site community: physical plant there fence-line community: neighbor of plant virtual community: online presence communities of interest: groups that share company interests employee community: people who work near the community
return on social investment
the benefits that accrue to a business and society
volunteerism
the efforts of people to assist others in a community through unpaid work
social capital
the norms and networks that enable collective action: gained by community engagement
community relations
the organized involvement of business with the community: education esp. STEM, poverty, hunger, disaster relief, environmental sustainability
corporate philanthropy/ corporate giving
the voluntary and unconditional transfers of cash or other assets by private firms for public purposes
