Tag Definitions of Business Concepts
In this category, you will find articles that give you definitions and explanations of various business concepts. That way, you too can explain Business Studies terminology with clarity and confidence.
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What is Risk Management? In the last video, I explained the four main functions of management according to popular management theory, which are: planning, organizing, leading, and controlling. For clarity, I used the example of a CEO aiming to grow… Continue Reading →
Definition of Socio-Economic Issues Socio-economic issues are problems that result from certain aspects in society and the economy. They have a negative influence on both communities and businesses. In South Africa, contemporary socio-economic issues include HIV/AIDS, poverty and unemployment. Businesses… Continue Reading →
Definition of Corporate Social Responsibility Corporate Social Responsibility (CSR) is not a once-off project. Instead, it is an ethical approach that guides all the company’s decisions. It is a long-term commitment by the business, to manage its processes in a… Continue Reading →
Definition of Stakeholder What is a stakeholder? In business, a stakeholder is any individual, group or organisation that is influenced by (or influences) an organisation’s actions. They have an interest in the organisation and its performance. They can be within… Continue Reading →
We are going to define Corporate Social Investment (CSI) and Corporate Social Responsibility (CSR). Then, we will compare the two, so that you clearly understand the difference between CSR and CSI. Definition of Corporate Social Responsibility (CSR) Deloitte describes CSR… Continue Reading →
Before we get into the definition of CSR, let’s start with a simple break down of the words in the term Corporate Social Responsibility: Corporate : Business Social : The community and the environment Responsibility : What you need… Continue Reading →
