B2 – Upper Intermediate
This lesson delves into businesses’ evolving role in addressing societal and environmental challenges while driving long-term value. It goes beyond mere philanthropy, encompassing a holistic approach that considers impacts on stakeholders. Companies embracing this recognize wider consequences and aim to create enduring value by integrating ethical principles, sustainable practices, and community engagement. This approach fosters positive relationships, enhances brand reputation, mitigates risks, and attracts socially conscious consumers and investors, positioning these companies for sustained success.
Read the article below about the benefits of having corporate social responsibility program and be ready to answer the following questions.
https://benevity.com/resources/corporate-social-responsibility-benefits
Vocabulary Questions:
- What does the expression “executive buy-in” mean in the sentence, “Winning executive buy-in, assigning responsibilities and finding the right CSR software are some of the biggest hurdles to jump — that’s before you’ve even mapped out the details.” Use it in a sentence.
- What does the noun “stakeholder” mean, “Stakeholders want to know if this project will see a positive return on investment (ROI).”? Use it in a sentence.
- What does the phrase “from strength to strength” mean in the sentence, “Ranked as the world’s most reputable company in 2020 by RepTrak, the children’s building blocks brand continues to go from strength to strength.“? Use this noun phrase in a sentence.
Discussion Questions:
- Do you think business leaders today prioritize making money above everything else, or do they consider social responsibility more now? Why or why not?
- What are the potential consequences of prioritizing profits over other considerations such as environmental impact, employee well-being, and community engagement?
- What role do consumers and investors play in shaping companies’ approaches to social responsibility, and how can businesses respond to their changing expectations?
- How do you prioritize profit versus social responsibility in your own approach to work or business decisions?
- Have you ever faced a situation where you had to choose between maximizing profits and acting in a socially responsible manner? If so, how did you navigate that decision?