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