Fragebogen 7

Focusing on ethical behaviour of an company not just Social also ecological.

Other impact the econmical Social and economical impact (including the economical impact)

Opportunity to gain customer advantage —> Customer loyalty

Pro

Another argument is that a company's resources, including time and money, are limited, and that investing in CSR activities can divert resources away from the company's primary goal of maximizing profit

Cons

companies have a moral responsibility to consider the impact of their actions on society and the environment, and that they have the resources and influence to make a positive difference

Another argument is that CSR can benefit a company in the long term by building its reputation and increasing customer loyalty, attracting and retaining top talent, and mitigating risk

The "triple bottom line" (TBL) is a concept that suggests that companies should be evaluated not just on their financial performance, but also on their social and environmental impacts. The TBL is often represented as three "Ps": People, Planet, and Profit.

The core idea of the TBL is that companies should consider the impact of their actions on all three of these areas, and strive to balance their financial, social, and environmental performance. This approach to corporate responsibility acknowledges that a company's success should not be measured solely by its financial performance, but also by the ways in which it contributes to the well-being of its stakeholders and the sustainability of the planet.

The TBL can be used as a framework for companies to assess and report on their performance in these three areas, and can also serve as a guide for companies to prioritize and address social and environmental issues in their operations. By considering the TBL, companies can aim to create value not just for their shareholders, but also for their employees, customers, communities, and the environment.

Not just behave in that way, also measure it System Accounting system for CSR.

Shareholder approach classical philosophy. The only reason why the company exist is because the shareholder want that the company exist.

Stakeholder approach = We work for the Stakeholders, Customer, society, for the environment, for minority. Employer represatation is very powerful here. Take the other interest groups in consider.

Profit plays a different role in these two approaches. In the shareholder approach, profit is seen as the primary goal and measure of success for a company. In the stakeholder approach, profit is still important, but it is not the only consideration. Instead, profit is seen as a means to an end, rather than an end in itself, and is one factor among many that a company should consider when making decisions that affect its stakeholders.

Ultimately, the choice between the shareholder and stakeholder approaches depends on a company's values and priorities, and the specific context in which it operates. Some companies may prioritize shareholder value, while others may prioritize creating value for a broader set of stakeholders.

Altruistic approach: best investment to maximizing profits an. And spend it for ethicla issue in the world by founding a foundation. Seperate business ann spending money

Strategic approach: Proactive to be fit for the future. Considering the Tripple bottom line into the business, change processes to be more sustainable. Try maxamize Profits with ethical behaviour.

Tactical approach: Forced by the consumer. Laws, eymployees. Etc.

Ethical approach: Avoiding external effects. Mix of Stratgic and tactical.

Lincense to operate

1. The United Nations Global Compact:

   Align their Operations and strategies to universally accepted principles in the areas of human rights, labor, the environment, anti corruption

2. ISO 26000

   -> Offers Guidance for social responsibility

   —> helps organisation to understand their social responsibility

   —>To consider the impact of their actions to the stakeholders.

3. Oecd Guidlines

   Are recommendations for multinatinal companies on responsible business conduct in areas such as human rights, labor, the environment, and anti-corruption. (Unbinding)