The document lists scores for four people: P.Hitesh - 135, S.Rahul Krishna - 150, B.Naresh – 175, Pramod - 121. It then discusses corporate social responsibility (CSR), defining it as a company's commitment to manage its social, environmental and economic impacts responsibly. CSR activities include ethical business partnerships, investing profits in health/environment programs, and supporting community organizations. The three pillars of CSR are profit generation, environmental protection, and consideration of people.
2. What
is
CSR?
Company’s commitment to manage
− Social
− Environmental
− Economic effects of its operations responsibly and in line with
public expectations.
Part of a company’s approach to corporate governance
and often touches every part of the business—
operations, human resources, manufacturing, supply
chain, health and safety, and more.
4. CSR activities
include
Company policies that insist on working with partners
who follow ethical business practices
Reinvesting profits in health and safety or
environmental programs
Supporting charitable organizations in the
communities where a company operates
Promoting equal opportunities for men and women at
the executive level
5. 3P’s of CSR
Profit
Generation of
sustainable
business results
Planet
Environmental protection
and conservation
People
(CSR)
7. Benefits of
CSR
It aids the attraction and retention of staff.
It attracts green and ethical investment.
It attracts ethically conscious customers.
It can lead to a reduction in costs through recycling.
It differentiates the form from its competitor and can
be a source of competitive advantage.
It can lead to increased profitability in the long run.
8. Need for
CSR
To fulfil long run self interest of the organisations.
To establish a better public image.
To avoid misuse of resources.
To minimize environmental damage.
For economic and social welfare of the community.
9. Importance
ofCSR
The importance of CSR increases with globalization as
both investors and customers have become very
sensitive to societal and environmental issues.
CSR helps business organisations to:
Impulse their relationship with local communities.
Increase the branding of the organisation.
Building a good corporate image for themselves.
CSR minimizes the negative impact of business
activities and create wealth and value for shareholders
and community as a whole.
11. Environmental
Responsibilities
ofCorporations
Use and handling of genetically modified organisms.
Minimizing the Greenhouse gas emissions & Global
warming.
Treatment and reduction of waste water.
Soil and water contamination.
Recycling and reuse of materials.
Protection of Forest resources.
12. CSR
initiatives of
TataSteel
Tata Steel Rural Development Society (TSRDS), a registered
society under Societies RegistrationAct, 1860.
Tribal Cultural Society (TCS), a registered society under Societies
RegistrationAct, 1860.
Tata Steel Skill Development Society (TSSDS), a registered
society under Societies RegistrationAct, 1860.
Tata Steel Family Initiatives Foundation (TSFIF), a registered trust
under IndianTrusts Act, 1882.
Average net profit of the Company for the last 3
financial years
7,518 ₹
Prescribed CSR Expenditure (2% of the average net
profits)
150 ₹
14. “BUSINESS IS NOT JUST ABOUT CREATING
ECONOMICVALUE, BUT ALSO SOCIALVALUE”
Editor's Notes
• Economic Responsibilities
Business organizations were created as economic entities designed to provide
goods and services to societal members.
The profit motive was established as the primary incentive for entrepreneurship.
Business organization was the basic economic unit in our society. As such, its
principal role was to produce goods and services that consumers needed and
wanted and to make an acceptable profit in the process.
At some point the idea of the profit motive got transformed into a notion of
maximum profits, and this has been an enduring value ever since.
• Legal Responsibilities
Society has not only sanctioned business to operate according to the profit
motive; at the same time business is expected to comply with the laws
and regulations promulgated by federal, state, and local governments as
the ground rules under which business must operate.
As a partial fulfillment of the "social contract" between business and
society firms are expected to pursue their economic missions within the
framework of the law.
Legal responsibilities reflect a view of "codified ethics" in the sense that
they embody basic notions of fair operations as established by our
lawmakers.
They are depicted as the next layer on the pyramid to portray their
historical development, but they are appropriately seen as coexisting with
economic responsibilities as fundamental precepts of the free enterprise
system.
• Ethical Responsibilities
Although economic and legal responsibilities embody ethical norms about
fairness and justice, ethical responsibilities embrace those activities and
practices that are expected or prohibited by societal members even
though they are not codified into law.
Ethical responsibilities embody those standards, norms, or expectations
that reflect a concern for what consumers, employees, shareholders, and
the community regard as fair, just, or in keeping with the respect or
protection of stakeholders' moral rights.
• Philanthropic Responsibilities
Philanthropy encompasses those corporate actions that are in
response to society’s expectation that businesses be good
corporate citizens.
This includes actively engaging in acts or programs to
promote human welfare or goodwill.