Corporate philanthropy• Charitable contributions to address a variety of social, economic and other issues as part of their overall corporate citizenship.Types• company-sponsored foundations• Direct giving program.
Cp examples• The Infosys Foundation – NPT - 1%PAT• Tata• SBI – initiatives• IBM global• Melinda gates foundation
“A company’s priority shouldbe to do something thatmakes a difference not justwrite out cheques “
CSR• Continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce, their families and the local community and society at large.
CSR Addresses• firms behaviour (including its policies and practices) health and safety• environmental protection,• human rights,• human resource management practices, corporate governance,• community development,• consumer and labour protection• supplier relations• Business ethics
• It is an attempt by organisations to take responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment.• Build meaningful relationships between the corporate sector and the rest of society.
CP & CSR Differences• CP consists of mainly donations and charity• CSR involves a more involved approach of ongoing community involvement.• CP is often a component of a corporation’s broader social responsibility and includes cash gifts, product donations and employee volunteerism.• Corporate Philanthropy is one component of CSR
• Social responsibility focuses on the impact that business activity has on society while• Ethics is concerned with the conduct of people within organisations
AspectsEthical standards CSRPerceived impropriety communityResponsibilities to the employer DiversityDiversityConflict of interest EnvironmentIssues of influence EthicsConfidential and proprietary FinancialinformationApplicable laws , Reciprocity , Supplier safetyrelationshipsNational and international supply HumanProfessional competenceSmall, disadvantaged and minority-ownedResponsibilities to the profession
Tata Steel Ethics• Competition (support for open market economy)• Equal-opportunities employer• Gifts and donations• Political non-alignment• Health, safety, and environment• Quality of products and services