2. CORPORATE SOCIAL RESPONSIBILITY<br /><ul><li>"A concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment“.
3. A positive attitude of the corporate towards the society by rendering services and facilities.
4. Minimizes the negative environmental and social impacts of business and maximizes their positive environmental and social impacts.</li></li></ul><li>THE LAW AND SOCIAL RESPONSIBILITY<br />
5. Benefits of CSR <br />CSR behaviour can benefit the firm in several<br /> ways:<br />Attraction and retention of staff.<br />Attracts investments.<br />Leads to reduction in costs.<br />Differentiation from competitors.<br />Leads to increased profitability.<br />
6. ARGUMENTS AGAINST SOCIAL RESPONSIBILITY<br /><ul><li> Reduce economic efficiency.
7. Creates excessive costs.
8. Lack of skills.
9. Not accountable .</li></li></ul><li>Development of CSR Concept<br /><ul><li> “Social Responsibilities of the Businessman” -H R Bowen ,1953
10. 1980’s</li></ul>Bhopal disaster<br />CSR activities incorporated in organizational setting<br />Linkages between business’s social and financial performance<br />
11. Bhopal Gas Disaster<br /><ul><li>40 tons methyl iso cyanate escaped
12. 20,000 have died
13. More than 120,000 people </li></ul> still continue to suffer.<br /><ul><li>In 2001 Dow Chemical purchased Union Carbide.
14. Union Carbide dumped waste in the surrounding areas, after the disaster, many tons of highly toxic simply abandoned. Greenpeace label the site a ‘Global Toxic Hotspot’.</li></li></ul><li>The 1990s<br /><ul><li>Globalization
15. WTO</li></ul>‘reactive’ corporate social responsible initiatives<br /><ul><li>Enron
16. Strategic CSR
17. Corporate Sustainability, Corporate Social Performance, Triple Bottom Line</li></li></ul><li>21st century<br /><ul><li>CSR fusion and merger with marketing , operations, human resources, social entrepreneurship
18. Codes ,regulations and legal frameworks(Global compact, AA1000)</li></li></ul><li><ul><li>“You have to draw a line between </li></ul> Charity, Philanthropy and CSR”. <br /><ul><li>“There can be business without charity. </li></ul> There can be charity without business. <br /> But there can be no business without <br /> Corporate Social Responsibility.”<br />
19. Fundamental Principles of CSR<br />
20. Key Issues in CSR<br /><ul><li>Labour Rights:
21. Child labour
22. Forced labour
23. Right to organise
24. Safety and health
25. Environmental Conditions</li></ul>Water & Air emissions<br />Climate change<br /><ul><li>Poverty Alleviation
26. Job creation
27. Public revenues
28. Skills and technology</li></li></ul><li>TRIPLE BOTTOM LINE<br /><ul><li> The concept of TBL demands that a company's responsibility lies with stakeholders rather than shareholders.
29. The Triple Bottom Line is made up of </li></ul> “Social, Environmental and Economic” means the <br /> “People, Planet, Profit”.<br />
30. "People" (human capital) fair and beneficial <br /> business practices toward labour<br /> and the community and region.<br />"Planet" (natural capital) refers to<br /> sustainable environmental practices, <br /> do no harm and curtail environmental impact.<br />“Profit" aspect needs to be seen as <br /> the real economic benefit enjoyed by the host society.<br />