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Corporate social responsbility

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corporate social responsibility

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Corporate social responsbility

  1. 1. Presented by:- Kartik Saxena
  2. 2. Corporate Social Responsibility“CSR is a concept which suggests that commercial corporations must fulfill their duty of providing care to the society” Ethical behavior of a company (or business) towards society. Promoting activities like engaging directly with local communities, identifying their basic needs, and integrating their needs with business goals and strategic intent. The government perceives CSR as the business contribution to the nation’s sustainable development goals. Essentially, it is about how business takes into account the economic, social and environmental impact of the way in which it operates.
  3. 3. International Organizations say on CSR EU Definition of CSR: "A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis." Mallenbaker Definition: "CSR is about how companies manage the business processes to produce an overall positive impact on society" The World Business Council for Sustainable Development (WBCSD): "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large"
  4. 4. Benefits of CSR Benefits of CSR Winning new businesses Enhancing your influence in the industry Attracting, Retaining and Maintaining a happy workforce Increase in customer retention Differentiating yourself from the competitor Saving money on energy and operating cost Access to funding opportunities Media interest and good reputation Enhanced Relationship with stakeholders
  5. 5. Market focused initiative Product focused initiative Employee focused initiative Society focused initiative Environmental focused initiative CSR Initiatives CSR Projects for Businesses
  6. 6. Arguments against corporate social responsibility > Lowers economic efficiency and profit. > Imposes unequal costs among competitors. > Imposes hidden costs passed on to stakeholders. > Places responsibility on business rather than individuals. > Requires social skills business may lack.
  7. 7. >> > Balances corporate power with responsibility. > Discourages government regulation. > Promotes long-term profits for business. Responds to changing stakeholders’ demands .> > Corrects social problems caused by business.
  8. 8. Practical Application of CSR Guidelines • Appoint a driver for your CSR initiative • Communicate your CSR efforts to all your stakeholders clearly and boldly. • Make your CSR initiative part of your business culture • Set up CSR measuring indicators to monitor progress and possible deviations. • Be enthusiastic about your CSR initiative; be committed to it. • Report on your initiatives and measure progress/ impact made.

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