This document provides an overview of corporate social responsibility (CSR). It discusses the historical evolution of CSR, defining CSR, why CSR is important, and arguments against CSR. It also describes different types of CSR strategies and how to develop an effective CSR strategy. The document outlines key concepts like the triple bottom line approach and environmental sustainability. It discusses cause-related marketing and standardization of CSR practices.
Corporate social responsibility (CSR) refers to businesses taking responsibility for their impact on society beyond short-term profits. While CSR has existed for a long time, it grew in prominence in the late 20th century as expectations increased that businesses should address social and environmental issues. There are arguments both for and against CSR, but increasingly companies see value in CSR for reputation and attracting ethical consumers. In India, large companies commonly engage in CSR activities, though some see it more as public relations than meaningful contribution to society.
Corporate social responsibility emerged in the 1960s as companies faced increasing pressure to address harmful impacts of their operations. CSR involves voluntary commitments by companies beyond legal and economic obligations. It can be defined as accommodating corporate behavior to societal values and expectations. There are various approaches to CSR, including Milton Friedman's view that a company's only responsibility is to increase profits legally, and Archie Carroll's view that companies have economic, legal, ethical, and discretionary responsibilities. Arguments for and against CSR center around profit maximization, resource fit, and lack of accountability.
- CSR emerged in the 1960s as companies faced increasing pressure to address harmful impacts of operations traditionally handled by governments.
- CSR can be defined as accommodating corporate behavior to societal values and expectations beyond legal and economic requirements.
- There are arguments both for and against CSR, relating to profit maximization, resource fit with social issues, and lack of corporate accountability. However, CSR can also improve corporate image, attract employees, and minimize government intervention.
Corporate Social Responsibility (CSR) is a concept whereby companies integrate social and environmental concerns into their business operations and interactions with stakeholders on a voluntary basis. It involves companies aligning their values and behavior with stakeholder expectations to address issues related to customers, investors, employees, suppliers, public, government and society as a whole. Arguments for CSR include the self-interest perspective that responsible behavior leads to sustainable business success, while arguments against include that addressing social issues comes at a cost to business competitiveness. Specific relevance of CSR today includes changing social expectations, competitive labor markets, stakeholder disclosure demands, dwindling government role, and risk management concerns.
Corporate social responsibility 4 generations of csrritiruchi
The document discusses the three generations of corporate social responsibility (CSR). The first generation focused on corporate philanthropy. The second generation sees CSR as an integral part of long-term business strategy. A third generation is needed where whole markets and public policies support sustainability and addressing social issues. However, questions remain around the appropriate roles and responsibilities of businesses versus governments and civil society.
This document discusses corporate social responsibility (CSR) in India, including its dimensions and challenges. It begins by providing background on CSR and defining it as companies integrating social and environmental concerns voluntarily into their business operations and interactions with stakeholders. The document then examines drivers of CSR like demands for disclosure, customer and investor pressure. It outlines dimensions of CSR like economic, legal, ethical and discretionary responsibilities. Challenges of CSR in India are also summarized, such as lack of community participation, need to build local capacities, issues of transparency and non-availability of clear guidelines. Examples are provided of CSR practices by Indian companies Reliance and Tata.
This case study examines how Beauty Base Ltd (BBL), a soap manufacturing company in Nigeria, applied the concept of corporate social responsibility (CSR) to solve a problem. BBL had been polluting the air and water in the community where its factory was located. In 2006, a lawsuit was filed against BBL for $2 billion in damages. While the government initially defended BBL, the company responded by initiating socially responsible actions like building a road in the community. Through CSR initiatives, BBL was able to improve its reputation and relationship with the community, providing a solution to the lawsuit and business challenges it faced.
The document discusses corporate social responsibility (CSR). It begins with a brief history of CSR, noting that while Adam Smith saw businesses as having responsibilities to society, Milton Friedman argued their sole responsibility was maximizing shareholder profits. The document then presents arguments both for and against CSR. Arguments for include addressing social problems through initiatives, improving corporate image and generating long-term profits, and creating a better internal work environment. While some debate the degree of social responsibility for businesses, engaging in CSR can provide benefits to both businesses and society.
Corporate social responsibility (CSR) refers to businesses taking responsibility for their impact on society beyond short-term profits. While CSR has existed for a long time, it grew in prominence in the late 20th century as expectations increased that businesses should address social and environmental issues. There are arguments both for and against CSR, but increasingly companies see value in CSR for reputation and attracting ethical consumers. In India, large companies commonly engage in CSR activities, though some see it more as public relations than meaningful contribution to society.
Corporate social responsibility emerged in the 1960s as companies faced increasing pressure to address harmful impacts of their operations. CSR involves voluntary commitments by companies beyond legal and economic obligations. It can be defined as accommodating corporate behavior to societal values and expectations. There are various approaches to CSR, including Milton Friedman's view that a company's only responsibility is to increase profits legally, and Archie Carroll's view that companies have economic, legal, ethical, and discretionary responsibilities. Arguments for and against CSR center around profit maximization, resource fit, and lack of accountability.
- CSR emerged in the 1960s as companies faced increasing pressure to address harmful impacts of operations traditionally handled by governments.
- CSR can be defined as accommodating corporate behavior to societal values and expectations beyond legal and economic requirements.
- There are arguments both for and against CSR, relating to profit maximization, resource fit with social issues, and lack of corporate accountability. However, CSR can also improve corporate image, attract employees, and minimize government intervention.
Corporate Social Responsibility (CSR) is a concept whereby companies integrate social and environmental concerns into their business operations and interactions with stakeholders on a voluntary basis. It involves companies aligning their values and behavior with stakeholder expectations to address issues related to customers, investors, employees, suppliers, public, government and society as a whole. Arguments for CSR include the self-interest perspective that responsible behavior leads to sustainable business success, while arguments against include that addressing social issues comes at a cost to business competitiveness. Specific relevance of CSR today includes changing social expectations, competitive labor markets, stakeholder disclosure demands, dwindling government role, and risk management concerns.
Corporate social responsibility 4 generations of csrritiruchi
The document discusses the three generations of corporate social responsibility (CSR). The first generation focused on corporate philanthropy. The second generation sees CSR as an integral part of long-term business strategy. A third generation is needed where whole markets and public policies support sustainability and addressing social issues. However, questions remain around the appropriate roles and responsibilities of businesses versus governments and civil society.
This document discusses corporate social responsibility (CSR) in India, including its dimensions and challenges. It begins by providing background on CSR and defining it as companies integrating social and environmental concerns voluntarily into their business operations and interactions with stakeholders. The document then examines drivers of CSR like demands for disclosure, customer and investor pressure. It outlines dimensions of CSR like economic, legal, ethical and discretionary responsibilities. Challenges of CSR in India are also summarized, such as lack of community participation, need to build local capacities, issues of transparency and non-availability of clear guidelines. Examples are provided of CSR practices by Indian companies Reliance and Tata.
This case study examines how Beauty Base Ltd (BBL), a soap manufacturing company in Nigeria, applied the concept of corporate social responsibility (CSR) to solve a problem. BBL had been polluting the air and water in the community where its factory was located. In 2006, a lawsuit was filed against BBL for $2 billion in damages. While the government initially defended BBL, the company responded by initiating socially responsible actions like building a road in the community. Through CSR initiatives, BBL was able to improve its reputation and relationship with the community, providing a solution to the lawsuit and business challenges it faced.
The document discusses corporate social responsibility (CSR). It begins with a brief history of CSR, noting that while Adam Smith saw businesses as having responsibilities to society, Milton Friedman argued their sole responsibility was maximizing shareholder profits. The document then presents arguments both for and against CSR. Arguments for include addressing social problems through initiatives, improving corporate image and generating long-term profits, and creating a better internal work environment. While some debate the degree of social responsibility for businesses, engaging in CSR can provide benefits to both businesses and society.
This document discusses the evolution of corporate social responsibility (CSR) in India through four phases from pre-industrialization to the modern era. It describes the meaning of CSR and the types of social responsibilities companies have, including legal, ethical, philanthropic, and economic responsibilities. The key aspects of CSR discussed are corporate responsibility, social accounting, corporate sustainability, and social contract. The need for CSR and issues around implementing CSR initiatives like lack of community participation and transparency are also summarized.
The document summarizes key aspects of corporate social responsibility (CSR) including:
- The meaning and definitions of CSR, how it has evolved from voluntary to mandatory practices.
- The objectives of CSR which include embracing responsibility, maximizing societal impact, and giving back to communities.
- Benefits of CSR for businesses such as increased employee engagement, improved brand perception, and enabling better customer engagement.
- New amendments to CSR rules in India including clarifying eligible CSR activities and treatment of unspent/excess CSR funds which must be transferred to specified funds.
This document provides an introduction to corporate social responsibility (CSR). It defines CSR as how companies manage business processes to produce an overall positive impact on society. The document discusses the evolution of CSR and key drivers like demands for greater disclosure and growing investor pressure. It outlines economic, legal, ethical, and philanthropic responsibilities under CSR. Examples of CSR programs at companies like IBM and Avon are provided. The benefits of CSR like strengthened branding and attracting employees are also summarized. Throughout, the document emphasizes that CSR requires companies to consider their impact on stakeholders and society as a whole.
Unit 1. Introduction to Corporate Social Responsibility.pptRohitPawar477072
This document provides an introduction to the concept of corporate social responsibility (CSR). It defines CSR as how companies manage their business processes to positively impact society. The document outlines the evolution of CSR from the 1950s to present day. It discusses drivers of CSR like investor pressure and defines benefits like strengthened brands and attracting employees. Examples of CSR programs from companies like IBM and Avon are provided. Challenges faced by companies like Coca-Cola in India are also summarized. The document examines perspectives on CSR from business and economics lenses. It analyzes the relationship between CSR and social legitimacy as well as the evolving roles of stakeholders in CSR.
Corporate Social Responsibility And A CompanyAshley Thomas
Here are the key points I gathered from the document:
- Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of society and take responsibility for its impact on stakeholders such as customers, employees, investors, communities, and the environment.
- CSR goes beyond legal compliance and involves voluntary activities that improve societal well-being. It is about how a company manages its economic, social, and environmental effects as well as its relationships with stakeholders.
- While CSR can help build goodwill and a positive brand image over time, some companies see it as too costly or slow to generate benefits. Implementing CSR activities also requires time and resources which could impact short-term profits.
- The
This chapter discusses the evolving concept of corporate social responsibility from philanthropic donations to expanded stakeholder responsibilities. It outlines Merck's donation of an anti-parasitic drug to help treat river blindness. Over time, stakeholder groups gained influence and ethical standards matured, requiring corporations to consider broader social impacts. Today, global norms and regulatory systems have developed to promote responsible business practices internationally.
Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of society through its activities and business
relationships. The document discusses CSR in the context of the global electronics industry supply chain. It identifies key social issues like gender
inequality and discrimination. Environmental issues discussed include pollution and e-waste. Economic issues discussed are tax havens and special
economic trading zones. The document also provides examples of CSR programs addressing communities and education in developing countries.
Corporate social respobsibility:Is it positive or negative, Contradictory vie...Ali jili'ow
This paper emphasizes weather corporate social responsibility is positive or negative,the paper presents concepts, history and definition of social responsibility, finally the paper discusses different arguments that supports or challenges this concept.
Stakeholder theory, ethics and the return on customerekanovich
This document discusses corporate social responsibility (CSR) and its relationship to business profitability and customer satisfaction. It provides background on the evolution of CSR, from early philanthropic activities to today's strategic integration of social and environmental issues. The document examines different theories around CSR, including stakeholder theory. It argues that modern consumers expect companies to implement CSR strategies and that CSR can be competitively advantageous by increasing customer satisfaction and loyalty. Overall, the document suggests that CSR allows companies to redefine profit maximization and increase their "return on customer."
Stakeholder theory, ethics and the return on customerekanovich
This document discusses the evolution of corporate social responsibility (CSR) theory and practice. It defines CSR as a company's duty to consider the interests of stakeholders such as employees, communities, and society. The document traces the roots of CSR back to Andrew Carnegie's ideas of charity and stewardship. It outlines key developments in CSR, from early community relations and contributions, to modern strategic integration of social and environmental issues. The document argues that modern consumers expect companies to have CSR strategies and that CSR can increase customer satisfaction and profits. It examines the relationship between CSR, customer returns, and shareholder value.
This document provides an overview of the evolution of the concept of corporate social responsibility (CSR) around the world. It discusses how CSR has changed over time from the 1950s to present day, moving from a focus on corporate philanthropy to stakeholder responsibility to sustainability. Key developments include Howard Bowen introducing CSR as a concept in the 1950s, the focus on stakeholder theory and business ethics in the 1980s, and the emergence of concepts like triple bottom line and corporate citizenship in the 2000s. The document also provides definitions of CSR from scholars over time and analyzes how the understanding and practice of CSR has become more complex and multifaceted.
Corporate social responsibility an alternate route towards creating “true bra...Maxwell Ranasinghe
The document discusses the concept of corporate social responsibility (CSR) and its role in creating "true brands" that contribute to long-term sustainability. It argues that CSR needs to move beyond discrete practices to become integrated throughout business operations. When CSR addresses the expectations of all stakeholders, including employees, society, customers and the environment, it can help transform companies into true brands that add value for everyone and move towards more sustainable economic, social and environmental models. The concept has evolved to include issues like shared value creation and ensuring corporate activities minimize negative ecological impacts.
Corporate Social Responsibility an alternate route towards creating “true bra...Maxwell Ranasinghe
This document discusses the concept of corporate social responsibility (CSR) and its role in creating "true brands" that contribute to long-term sustainability. It argues that CSR needs to move from the periphery to the core of business operations and decision-making. For CSR to be effective, leadership must embrace a stakeholder approach and view sustainability as integral to business effectiveness. When companies transform through expanded CSR that creates shared value for all stakeholders, they can become "true brands" that help address global economic, social and environmental challenges.
- Andrew Carnegie popularized the idea that wealthy individuals and businesses are stewards of their wealth and should use it for the benefit of society through charitable works.
- While corporate philanthropy can help communities, some critics argue that corporate managers have no right to donate company money that does not belong to them or should be returned to shareholders.
- In the early 1900s, some business leaders engaged in philanthropy and social programs to improve their public image and counter criticisms that they only cared about profits. Andrew Carnegie in particular established many charitable foundations.
Provisions for Corporate Social Responsibility in Companies Act, 2013RHIMRJ Journal
CSR as a concept has attracted worldwide attention and acquired a new resonance in the global economy Heightened
interest in CSR in recent years has stemmed from the advent of globalisation and international trade, which has reflected in
increased business complexity and new demands for enhanced transparency and corporate citizenship. Moreover, while
Governments have traditionally assumed the sole responsibility for the improvement of the living conditions of the population,
society’s needs have exceeded the capabilities of Governments to fulfill them. In this context, the spotlight is increasingly
turning to focus on the role of business in society and progressive companies are seeking to differentiate themselves through
engagement in what is referred to as CSR. The Companies Act, 2013 has taken one step ahead and introduced mandatory
provisions in the field of CSR. Though many believe that concerns on the new company law are manifold and it is a bold yet
not beautiful step. For instance, India Inc is concerned that the cost of board performance evaluation may outweigh the
benefits for many small companies in this regard. Also, it has concerns about the prospect of an over regulated regime and the
attendant scourge of corruption. Given the advantages and concerns on the new regulations introduced by the new Companies
Act, we all need to wait and watch once the companies start implementing the new provisions and therefore, the practical
aspects and implications will be evaluated thereafter.
Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
Today's Effort For A Better Tomorrow
This document discusses the concept of corporate social responsibility (CSR). It begins by explaining how businesses are increasingly expected to address social issues involving stakeholders, society, the environment, and government. It then provides examples of CSR initiatives undertaken by various large Indian companies to benefit local communities. The document defines CSR as a self-regulating business model that considers the public interest and impacts on people, planet and profits. It acknowledges debates around CSR and whether it distracts from economic roles or is just public relations. Overall, the document outlines the concept and increasing importance of CSR.
The document discusses corporate social responsibility (CSR) activities of Mahindra's Farm Equipment Sector (FES) Nagpur plant. The plant has undertaken various CSR initiatives in nearby villages focusing on education, healthcare, and environment conservation. Some key initiatives include supporting education of girl children, organizing health camps, planting trees, and installing solar lights in schools. Such CSR activities help create goodwill for the company and strengthen its brand image in the local community.
The document outlines concepts related to corporate social responsibility (CSR). It defines CSR as a company's commitment to ethical behavior and contributing to economic development while improving life for employees, communities, and society. CSR involves considering how business actions impact various stakeholders. It also means managing responsibilities related to ethics, legal compliance, philanthropy, and profitability.
FDP ON RM BSUINSS MANAGEMENT IN INDIA MET INSTHarshada Mulay
1) The document announces a one-week faculty development program from July 31 to August 4, 2023 organized by the Research Cell of IMS Ghaziabad on "Outcome Based Education, Learning and Assessment under NEP 2020".
2) The program aims to impart knowledge on outcome-based education to faculty members and help develop skills for a learning-driven student engagement and assessment system as per NEP 2020 guidelines.
3) The sessions will cover various components of outcome-based education including learning outcomes, Bloom's taxonomy, curriculum design, attainment of course and program outcomes, and assessment techniques to improve learning.
The document announces an international research conference on Management, Economics, and Social Sciences to be held on March 15-16, 2024 at the MET Institute of Post Graduate Diploma in Management in Mumbai, India. The conference aims to bring together researchers to exchange ideas on all aspects of management, economics, and social sciences. Key dates include the deadline of January 15, 2024 to register and submit abstracts, and March 5, 2024 to submit full papers. Presentations will be both online and offline. Cash prizes will be awarded for the best papers. Selected papers will be published in the MET Research Journal.
This document discusses the evolution of corporate social responsibility (CSR) in India through four phases from pre-industrialization to the modern era. It describes the meaning of CSR and the types of social responsibilities companies have, including legal, ethical, philanthropic, and economic responsibilities. The key aspects of CSR discussed are corporate responsibility, social accounting, corporate sustainability, and social contract. The need for CSR and issues around implementing CSR initiatives like lack of community participation and transparency are also summarized.
The document summarizes key aspects of corporate social responsibility (CSR) including:
- The meaning and definitions of CSR, how it has evolved from voluntary to mandatory practices.
- The objectives of CSR which include embracing responsibility, maximizing societal impact, and giving back to communities.
- Benefits of CSR for businesses such as increased employee engagement, improved brand perception, and enabling better customer engagement.
- New amendments to CSR rules in India including clarifying eligible CSR activities and treatment of unspent/excess CSR funds which must be transferred to specified funds.
This document provides an introduction to corporate social responsibility (CSR). It defines CSR as how companies manage business processes to produce an overall positive impact on society. The document discusses the evolution of CSR and key drivers like demands for greater disclosure and growing investor pressure. It outlines economic, legal, ethical, and philanthropic responsibilities under CSR. Examples of CSR programs at companies like IBM and Avon are provided. The benefits of CSR like strengthened branding and attracting employees are also summarized. Throughout, the document emphasizes that CSR requires companies to consider their impact on stakeholders and society as a whole.
Unit 1. Introduction to Corporate Social Responsibility.pptRohitPawar477072
This document provides an introduction to the concept of corporate social responsibility (CSR). It defines CSR as how companies manage their business processes to positively impact society. The document outlines the evolution of CSR from the 1950s to present day. It discusses drivers of CSR like investor pressure and defines benefits like strengthened brands and attracting employees. Examples of CSR programs from companies like IBM and Avon are provided. Challenges faced by companies like Coca-Cola in India are also summarized. The document examines perspectives on CSR from business and economics lenses. It analyzes the relationship between CSR and social legitimacy as well as the evolving roles of stakeholders in CSR.
Corporate Social Responsibility And A CompanyAshley Thomas
Here are the key points I gathered from the document:
- Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of society and take responsibility for its impact on stakeholders such as customers, employees, investors, communities, and the environment.
- CSR goes beyond legal compliance and involves voluntary activities that improve societal well-being. It is about how a company manages its economic, social, and environmental effects as well as its relationships with stakeholders.
- While CSR can help build goodwill and a positive brand image over time, some companies see it as too costly or slow to generate benefits. Implementing CSR activities also requires time and resources which could impact short-term profits.
- The
This chapter discusses the evolving concept of corporate social responsibility from philanthropic donations to expanded stakeholder responsibilities. It outlines Merck's donation of an anti-parasitic drug to help treat river blindness. Over time, stakeholder groups gained influence and ethical standards matured, requiring corporations to consider broader social impacts. Today, global norms and regulatory systems have developed to promote responsible business practices internationally.
Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of society through its activities and business
relationships. The document discusses CSR in the context of the global electronics industry supply chain. It identifies key social issues like gender
inequality and discrimination. Environmental issues discussed include pollution and e-waste. Economic issues discussed are tax havens and special
economic trading zones. The document also provides examples of CSR programs addressing communities and education in developing countries.
Corporate social respobsibility:Is it positive or negative, Contradictory vie...Ali jili'ow
This paper emphasizes weather corporate social responsibility is positive or negative,the paper presents concepts, history and definition of social responsibility, finally the paper discusses different arguments that supports or challenges this concept.
Stakeholder theory, ethics and the return on customerekanovich
This document discusses corporate social responsibility (CSR) and its relationship to business profitability and customer satisfaction. It provides background on the evolution of CSR, from early philanthropic activities to today's strategic integration of social and environmental issues. The document examines different theories around CSR, including stakeholder theory. It argues that modern consumers expect companies to implement CSR strategies and that CSR can be competitively advantageous by increasing customer satisfaction and loyalty. Overall, the document suggests that CSR allows companies to redefine profit maximization and increase their "return on customer."
Stakeholder theory, ethics and the return on customerekanovich
This document discusses the evolution of corporate social responsibility (CSR) theory and practice. It defines CSR as a company's duty to consider the interests of stakeholders such as employees, communities, and society. The document traces the roots of CSR back to Andrew Carnegie's ideas of charity and stewardship. It outlines key developments in CSR, from early community relations and contributions, to modern strategic integration of social and environmental issues. The document argues that modern consumers expect companies to have CSR strategies and that CSR can increase customer satisfaction and profits. It examines the relationship between CSR, customer returns, and shareholder value.
This document provides an overview of the evolution of the concept of corporate social responsibility (CSR) around the world. It discusses how CSR has changed over time from the 1950s to present day, moving from a focus on corporate philanthropy to stakeholder responsibility to sustainability. Key developments include Howard Bowen introducing CSR as a concept in the 1950s, the focus on stakeholder theory and business ethics in the 1980s, and the emergence of concepts like triple bottom line and corporate citizenship in the 2000s. The document also provides definitions of CSR from scholars over time and analyzes how the understanding and practice of CSR has become more complex and multifaceted.
Corporate social responsibility an alternate route towards creating “true bra...Maxwell Ranasinghe
The document discusses the concept of corporate social responsibility (CSR) and its role in creating "true brands" that contribute to long-term sustainability. It argues that CSR needs to move beyond discrete practices to become integrated throughout business operations. When CSR addresses the expectations of all stakeholders, including employees, society, customers and the environment, it can help transform companies into true brands that add value for everyone and move towards more sustainable economic, social and environmental models. The concept has evolved to include issues like shared value creation and ensuring corporate activities minimize negative ecological impacts.
Corporate Social Responsibility an alternate route towards creating “true bra...Maxwell Ranasinghe
This document discusses the concept of corporate social responsibility (CSR) and its role in creating "true brands" that contribute to long-term sustainability. It argues that CSR needs to move from the periphery to the core of business operations and decision-making. For CSR to be effective, leadership must embrace a stakeholder approach and view sustainability as integral to business effectiveness. When companies transform through expanded CSR that creates shared value for all stakeholders, they can become "true brands" that help address global economic, social and environmental challenges.
- Andrew Carnegie popularized the idea that wealthy individuals and businesses are stewards of their wealth and should use it for the benefit of society through charitable works.
- While corporate philanthropy can help communities, some critics argue that corporate managers have no right to donate company money that does not belong to them or should be returned to shareholders.
- In the early 1900s, some business leaders engaged in philanthropy and social programs to improve their public image and counter criticisms that they only cared about profits. Andrew Carnegie in particular established many charitable foundations.
Provisions for Corporate Social Responsibility in Companies Act, 2013RHIMRJ Journal
CSR as a concept has attracted worldwide attention and acquired a new resonance in the global economy Heightened
interest in CSR in recent years has stemmed from the advent of globalisation and international trade, which has reflected in
increased business complexity and new demands for enhanced transparency and corporate citizenship. Moreover, while
Governments have traditionally assumed the sole responsibility for the improvement of the living conditions of the population,
society’s needs have exceeded the capabilities of Governments to fulfill them. In this context, the spotlight is increasingly
turning to focus on the role of business in society and progressive companies are seeking to differentiate themselves through
engagement in what is referred to as CSR. The Companies Act, 2013 has taken one step ahead and introduced mandatory
provisions in the field of CSR. Though many believe that concerns on the new company law are manifold and it is a bold yet
not beautiful step. For instance, India Inc is concerned that the cost of board performance evaluation may outweigh the
benefits for many small companies in this regard. Also, it has concerns about the prospect of an over regulated regime and the
attendant scourge of corruption. Given the advantages and concerns on the new regulations introduced by the new Companies
Act, we all need to wait and watch once the companies start implementing the new provisions and therefore, the practical
aspects and implications will be evaluated thereafter.
Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
Today's Effort For A Better Tomorrow
This document discusses the concept of corporate social responsibility (CSR). It begins by explaining how businesses are increasingly expected to address social issues involving stakeholders, society, the environment, and government. It then provides examples of CSR initiatives undertaken by various large Indian companies to benefit local communities. The document defines CSR as a self-regulating business model that considers the public interest and impacts on people, planet and profits. It acknowledges debates around CSR and whether it distracts from economic roles or is just public relations. Overall, the document outlines the concept and increasing importance of CSR.
The document discusses corporate social responsibility (CSR) activities of Mahindra's Farm Equipment Sector (FES) Nagpur plant. The plant has undertaken various CSR initiatives in nearby villages focusing on education, healthcare, and environment conservation. Some key initiatives include supporting education of girl children, organizing health camps, planting trees, and installing solar lights in schools. Such CSR activities help create goodwill for the company and strengthen its brand image in the local community.
The document outlines concepts related to corporate social responsibility (CSR). It defines CSR as a company's commitment to ethical behavior and contributing to economic development while improving life for employees, communities, and society. CSR involves considering how business actions impact various stakeholders. It also means managing responsibilities related to ethics, legal compliance, philanthropy, and profitability.
FDP ON RM BSUINSS MANAGEMENT IN INDIA MET INSTHarshada Mulay
1) The document announces a one-week faculty development program from July 31 to August 4, 2023 organized by the Research Cell of IMS Ghaziabad on "Outcome Based Education, Learning and Assessment under NEP 2020".
2) The program aims to impart knowledge on outcome-based education to faculty members and help develop skills for a learning-driven student engagement and assessment system as per NEP 2020 guidelines.
3) The sessions will cover various components of outcome-based education including learning outcomes, Bloom's taxonomy, curriculum design, attainment of course and program outcomes, and assessment techniques to improve learning.
The document announces an international research conference on Management, Economics, and Social Sciences to be held on March 15-16, 2024 at the MET Institute of Post Graduate Diploma in Management in Mumbai, India. The conference aims to bring together researchers to exchange ideas on all aspects of management, economics, and social sciences. Key dates include the deadline of January 15, 2024 to register and submit abstracts, and March 5, 2024 to submit full papers. Presentations will be both online and offline. Cash prizes will be awarded for the best papers. Selected papers will be published in the MET Research Journal.
This document discusses the integration of information and communication technology (ICT) in teaching and learning. It defines ICT and outlines its benefits, including being a source of knowledge, medium for transmitting knowledge, and means of interaction. The document describes various ICT tools like multimedia PCs, the internet, and digital libraries. It explains how these tools can enhance learning through visualization, collaboration, motivation, and catering to different learning styles. Overall, the document promotes the use of ICT in education to improve the quality and flexibility of learning.
This document discusses creating a culture of innovation in educational technology and 21st century classrooms. It outlines best practices for building a culture that fosters innovation, revolutionizing the classroom experience, and showcasing expanded and creative technology use. Examples are provided of innovative ICT teaching that integrate digital devices, involve hands-on learning, digital learning, and inquiry-based and real-world projects. The document argues that active learning tools are changing teaching methods across cultural lines to engage students and improve pedagogy and learning outcomes.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Human resources refers to the people that work for an organization and their unique characteristics. Human resource management involves planning, organizing, directing, and controlling human resources to accomplish individual, organizational, and societal goals. The objectives of human resource management are to act as a liaison between management and employees, maintain adequate staffing levels, offer employee benefits and training, maintain high morale, and ensure ethical conduct. Effective management of human resources is important for enterprises, professionals, and national development.
The document discusses sources of new business ideas such as trends, consumers, existing products and services, distribution channels, government, and research and development. It also outlines methods for generating new ideas like focus groups, brainstorming, and problem solving techniques. Finally, it covers defining and classifying innovations, the product development process, and opportunities for e-commerce in new ventures.
This document discusses several models of organizational decision making. It describes programmed and non-programmed decisions, with programmed decisions following established rules and non-programmed decisions made in response to new opportunities and threats. It also discusses rational, bounded rationality, and garbage can models of decision making, highlighting limitations of fully rational models and how intuition and constraints impact real-world decisions. Different models make tradeoffs between optimization and practical constraints.
The document discusses various theories and models of leadership. It begins by defining leadership as the ability to influence others to achieve goals. It then covers several historical theories including: trait theories, which focus on innate qualities; behavioral theories from Ohio State and University of Michigan, which emphasize behaviors like consideration and task focus; and contingency theories like Fiedler's, which note leadership effectiveness depends on situational factors. Later sections discuss path-goal theory, situational leadership, participative models, and new approaches like leader-member exchange theory and strategic/visionary theories involving charismatic and transformational leadership.
The document discusses design thinking and its application at P&G. It provides:
1) A quote from Steve Jobs emphasizing that design is how something works, not just how it looks.
2) An anecdote from Indira Nooyi about visiting markets weekly as a consumer and seeing clutter, motivating P&G to rethink innovation through design thinking.
3) An overview of design thinking as a creative, iterative process to solve problems and develop solutions through empathy, defining problems correctly, ideating solutions, prototyping, and testing.
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2. Table of Contents
Corporate Social Responsibility: An Introduction
Social Responsibility and Business Ethics
Historical Evolution of Corporate Social
Defining Corporate Social Responsibility
Why Corporate Social Responsibility?
Arguments against Corporate Social Responsibility
Achieving Corporate Social Responsibility
Identifying and defining Social Problems
Preventing and Solving Social Problems
3. Types of Corporate Social Responsibility
Strategies for Social Responsiveness:
How to Develop an Effective CSR Strategy?
Triple Bottom Line and Environmental Sustainability
Cause Related Marketing
Corporate Social Responsibility Standardization
Corporate Social Responsibility in Modern India
Theological Ethics and Philanthropy
4. Corporate Social Responsibility: An
Introduction
The growth of Corporate Social Responsibility (CSR) can be traced back to early 1900's
when Antitrust laws, banking regulations and consumer protection laws were formulated
in US to protect the interest of the consumers and curb the anti competitive and anti social
practices of some giant corporations.
In order to improve the image of the corporations, Andrew Carnegie a Scottish-American
industrialist, and business magnate, popularized the concept of charity and stewardship in
1899 in his well known article, The Gospel of Wealth, which outlines how the personal
fortunes should be used for the benefit of the society and rich people can play positive
role in it by donating their fortunes for the enrichment of the society.
With the creation of Community Chests in the United States and Canada, the focus
shifted from making individual philanthropists contributions to charity corporation’s
donations.
5. The first Community Chest Fund, was established by the Federation for Charity and
Philanthropy of Cleveland, Ohio in 1913.
Thus, J.D. Rockefeller laid the foundation of Rockefeller Foundation in 1913 and Edsel
Ford and Henry Ford laid the foundation of Ford Foundation in 1936.
However, charitable giving is not the only way of CSR. It can also be found in the
stewardship principle, when corporate managers see themselves as stewards or trustees
who act in the general public interest and "recognize that business and society are
intertwined and interdependent.“
Ted Turner, the founder of CNN donated $ 1 billion to the United Nation's Children
Fund. Bill & Melinda Gates Foundation (BMGF), was established as one of the largest
private foundation in US in the year 2000 with the assets of $38 billion.
Facebook founder Mr. Zuckerberg and his wife, Dr. Priscilla Chan, announced that he and
his wife would give 99 percent of their Facebook shares worth more than $ 45 billion
during their lives to charitable purposes through the Chan Zuckerberg Initiative, to
manage the money, through an unusual limited liability corporate structure.
6. Social Responsibility and Business Ethics
Social responsibility and ethics are two different terms though often used
interchangeably by many. Ethics is the set of rules and regulations that guide
decision making in business but Social responsibility is seen as the obligation of
business towards the society.
Friedman by focussing on profit maximization seems to be advocating the rights of
only shareholders, who are the owners of the business but R. Edward Freeman
believes that it is not only the shareholder whose interest needs to be safeguarded
by the business by maximizing profit but instead the managers of the business need
to protect the interest of all the stakeholders of the business. Stakeholders are all
those people who are having “stake” or claim in the business.
7. Historical Evolution of Corporate Social
Responsibility as a Separate Discipline
CSR has a long history but the formal writing and literature on the subject is not
more than 70 years old.
1950 to 1960: During this decade the focus was on exploring the social
responsibilities of the businessman. The formal writing over CSR can be traced
back to 1951 when Frank Abrams, chairman of the board for Standard Oil of New
Jersey, published an article in Harvard Business Review. In 1953, Howard Bowen,
heralded the debate about the responsibilities and issues of the business in his
popular book titled, “The Social Responsibilities of the Businessman”.
8. 1960 to 1970: This decade further saw the formalization of the concept of CSR.
Davis(1960) has defined CSR as the decisions and actions of a businessman made
beyond the firm’s direct economic interest.
In the same decade, popular economist Milton Friedman came up with the
shareholder theory in his book ‘Capitalism and Freedom’ which opposed the idea
that business has any social responsibility and advocates that an organization’s
CSR is to increase the economic value of its shareholders by earning maximum
profit.
In 1970, the US Committee for Economic Development published a report on
CSR which maintains that CSR would remain controversial until it could be
established that its practices are in the larger interest of the shareholders. This so
called ‘enlightened self interest’ is based on Golden Rules which believes that the
one who furthers the interests of others, ultimately serve his own self-interest.
9. 1970 to 1980: This decade was dominated by Archie Carroll. In 1979, Archie Carroll
emerged as an eminent figure in the field of CSR. He says that there are four
components of CSR namely economic, legal, ethical and philanthropic. Later on after
a decade, in 1991, Carrol further developed this into a Pyramidal Model.
1980 to 1990s: In 1980s Freeman came up with his famous book, ‘Strategic
Management: A Stakeholder Approach’ in which he speaks about the Stakeholder
theory which holds that the obligation of business is not only towards the shareholder
but also towards all those who are having either direct or indirect claim or stake in the
business.
In 1984, Drucker emphasises that social responsibility should be the integral part of
the business strategy and not merely a statement of good intentions.
1990 to 2000: In 1991, Carroll created the Pyramidal Model of Corporate Social
Responsibility which identifies the four components of CSR in hierarchical manner.
The four components are, economic responsibility (base component), legal
responsibility, ethical responsibility and philanthropic responsibility.
10. 2000 to 2010: This decade scholars argued that the strategic philanthropy could
open new markets and opportunities for the business and develop valuable
relationships. In 2010 a new legislations was introduced in US which paved way
for creation of Benefit Corporations. Benefit Corporations were meant for
creating benefit for society as well as shareholders. Through this legislation the
government officially acknowledged the notion that CSR is of paramount
importance.
11. Defining Corporate Social Responsibility
CSR is a social responsibility of the organizations wherein it is expected that they
will deliver economics, social and environmental benefits to all its stakeholders and
achieve sustainable development.
Thus it is a sort of social contract wherein the society benefits by receiving income,
employment, goods and services and organizations aim to achieve sustainable
development by delivering economic, social and environmental benefits for all
stakeholders.
12. Why Corporate Social Responsibility?
Business is the part of the society and the society has given mandate to the business
through government to exist and operate and, the society has the right to revoke its
mandate if the business fails to live up to the expectations of the society.
So, in order to keep operating the business must be responsive to the needs of the
society and serve it. Therefore, business being a part of the society has the ethical
responsibility to behave responsibly.
An ethical and virtuous firm is more acceptable in the society than an unethical and
non-virtuous firm.
A socially irresponsible business has the risk of losing business. Therefore business
must behave in a socially responsible and ethical manner.
13. A socially responsible business saves the regulation cost of the Government.
Government regulation is costly and found to be curtailing the much needed
freedom in business decision making.
Corporate Social Responsibility can help improve the reputation of the
organization which ensures long term future benefits to the organization.
Corporate Social Responsibility strengthens the Brand Image of the organization
which positively impacts the profitability of the organization.
CSR can also open new market opportunities for the business.
Research further suggests that employees, working in a socially responsible
organization with strong ethical code of conduct, do not likely indulge in any sort
of potential misconduct towards stakeholders.
14. Arguments against Corporate Social
Responsibility
The main objective of the business is to maximize profit and it is for the government
to take care of society. Business can best serve the society by doing its business well
and by earning profit.
Secondly, it is seen that Corporate Social Responsibility involves cost, and the
businesses pass on that cost upon the society. Therefore, Corporate Social
Responsibility loses its purpose if the society has to ultimately bear its cost.
Thirdly, it is very difficult to fix the accountability in case of failure in fulfilling
Corporate Social Responsibility. Managers are cut out for business and they have little
or no skill to solve the social problems.
15. Fourthly, as per Indian laws businesses with annual revenues of more than 10bn
rupee must spend 2% of their net profit as Corporate Social Responsibility.
Lastly, the involvement of business in some social cause may also occasionally
lead to some backlash by groups who oppose that cause. For example, Dayton-
Hudson used to donate $1800 to Planned Parenthood which educates parents for
planning parenthood and supports abortion.
16. Achieving Corporate Social
Responsibility
The society needs corporations for income, employment and goods and services and
therefore it supports them by infusing life in them through state governments and by
purchasing their goods and services. These corporations are also indirectly regulated
and controlled by the society through the devices of federal, state and local
governments.
In order to behave in a socially responsible manner a firm should focus on the
following factors:
a. What is the best possible procedure which a firm should follow if it desires to
become socially responsible?
b. How to identify and define a social problem?
c. How to choose and attack one or more problems from the array of problems?
17. Gordon Fitch has suggested following steps for addressing the above queries:
a. The first step involves defining of problem in the abstract sense and considering how
problems are found.
b. The second step involves making distinction between social and non social
problems.
c. The third and final step involves devising effective methods for choosing the social
problems to be attacked and describing methods to attack those problems.
18. Identifying and defining Social
Problems
The process of identifying and defining the problem comes before the problem
solving process. The process of finding the problem is very important, but
unfortunately not enough academic little literature is available on this topic.
H. Gordon Fitch has identified two main elements of a social problem:
a. There exists a gap between the existing situation and desired situation. This
element is also visible in the William Pound’s basic definition of problem.
b. It involves behaviour in which the individuals prefer acts which are only
advantageous to them in short term perspective but harmful to the society in the long
term perspective. Garrett Hardin has described this element as the tragedy of
commons.
19. Now, the question arises that what is a desired situation or desired state of affairs? Jessie
Bernard has identified three principles which define a desired situation or desired state of
affairs:
a. Humanist Principle
b. Utilitarian principle
c. Dysfunctionality Principle
These principles provide an idea to the businessman about deciding on the desired state of
affairs.
A corporation striving to achieve at least minimum level of CSR will follow the utilitarian
principle.
Enlightened Self Interest is another criterion in which the corporation gives high priority to
address all those problems in which it acts as contributing factor.
The Enlightened Self Interest criterion also suggests that the corporations search for ways to
increase profit by applying its expertise to the solution of social problems, regardless of
whether or not the corporation is a major contributing factor.
20. Preventing and Solving Social
Problems
Once the social problem is identified and selected by the corporation, the next step
should be to take necessary steps to address those problems. Solving a social
problem is more difficult than solving an intricate technical problem.
Deficiency of knowledge and deficiency of execution are two main reasons for the
failure of a corporation in addressing a social problem.
21. Types of Corporate Social
Responsibility
Archie B. Carroll conceptualized a Pyramidal Model of Corporate Social
Responsibility which states that Corporate Social Responsibility has four components
in hierarchical order namely Economic, Legal, Ethical and Philanthropic and all these
four responsibilities must be satisfied simultaneously.
23. Strategies for Social Responsiveness
As per Carroll’s there are four strategies for social responsiveness.
i. Reactive Strategy: Under this strategy the organizations may deny their
responsibility for social issues.
ii. Defensive Strategy: Under this strategy the organizations admit their social
responsibility but they do only bare minimum to fulfil their social responsibility.
iii. Accommodative Strategy: Under this strategy the organization admits its social
responsibilities and it does what is demanded of it.
iv. Proactive Strategy: Organizations go beyond the accepted industrial norms to fulfil
their social responsibilities.
25. An organization is required to assess the motivation of the stakeholders. This can be
done using Mendlow’s Matrix which has four quadrants and each quadrant proposes a
particular way to deal with a particular set of stakeholders (groups).
26. Triple Bottom Line and
Environmental Sustainability
The term “Triple Bottom Line”, TBL or 3BL was coined by John Elkington in 1997 in his
book titled, “Cannibals with Forks: the Triple Bottom Line of 21st Century Business”. Thus
Triple Bottom Line is an accounting framework with three parts namely social, environmental
(or ecological) and financial (economical).
The concept is popularly depicted in three overlapping spheres representing social,
environmental and financial (economical) dimensions. This three-sphere framework was
initially proposed by the economist René Passet in 1979.
The term ‘sustainability’ is the place where all the three circles, showing three different
dimensions i.e. financial (economic), social and environmental dimensions, overlap. Triple
Bottom Line concept also mainstreams the idea of sustainability including 3Ps namely profit,
people and planet.
The term sustainable development is the “development that meets the needs of the present
without compromising the ability of future generations to meet their own needs.”
27.
28. Cause Related Marketing
The process of formulating and implementing marketing activities that are characterize by an
offer from the firm to contribute a specified amount to a designated cause when customers engage
in revenue producing exchange that satisfy organizational and individual objectives.
Thus we see that Cause Related Marketing is becoming very popular among the present day
organizations in which they run a marketing and advertising campaign that promotes both the
corporation and the social cause or issue.
For example; Bath tile maker, Johnson Tiles wanted to sensitize the Indian society towards
making public places disable-friendly. It launched the ‘Red Ramp Project’ wherein a ramp was
built on Kiri beach in Goa. Disabled people could now visit the beach via the tiled ramp and feel
the waters lapping at their feet.
Another example of cause related marketing is of Vistara partnering with an NGO named Salaam
Baalak Trust – that provides support to street children of Delhi and Mumbai. Vistara gave a fly to
12 kids of Salam Balak Trust on its first flight ever.
29. Corporate Social Responsibility
Standardization
British Standard Institution (BSI) is the world’s first national standard body which has
approximately 1 lakh clients. BSI is credited for publishing the world’s first standard
for environmental management, BS 7750 in 1992. This paved way for the publication
of ISO 14000 and 14001. BSI is also credited for publishing the world’s first
sustainability standard BS 8900, in 2006.
The International Organization for Standards (ISO) has laid down international
standards for determining the social responsibility of corporate (private) and public
sector.
ISO 26000 was released in 2010 to provide important guidelines to the organizations
in relation to their social responsibility. It is also known as ISO SR. ISO 26000 is only
a set of guidelines and cannot be used for any type of certification.
30. The Global Reporting Initiative Sustainability Reporting Standards (GRI Standards)
are global standards for sustainability reporting. It helps organizations and
governments worldwide to study the impact of their measures on sustainability issues
such as climate change, human rights, governance and social well-being.
AA1000: AA1000 Series of Standards were created in 1999 by the Institute for Social
and Ethical Accountability of Britain. It is a set of principles for improving social
performance.
Another important certification standard is Social Accountability (SA) 8000 or simply
SA 8000, developed by Social Accountability International (SAI). It encourages the
organizations in developing, maintaining and applying the socially acceptable
practices at work place. This certification can also be audited.
31. Corporate Social Responsibility in
Modern India
The growth and development of Corporate Social Responsibility in India can be
categorized into various phases:
Phase 1 (1858 to 1915): This phase started in 1858 when the system of Governance
was instituted in India. The power was transferred from East India Company to British
Crown in the person of Queen Victoria. The phase lasted till 1915 which marks the
advent of Gandhi in India.
Phase 2 (1916 TO 1947): The second phase starts from 1915 and lasts till 1947. This
was the period when India was directly under the British rule. The period is also
known for the dominance of Gandhi over Indian politics and society.
32. Phase 3(1947 to 1990): After Independence, India adopted mixed economy model
which was characterized by the growth of both private and public sector. Jawaharlal
Nehru was the chief architect of the mixed economy structure adopted by India after
independence in which both public and private sector coexist
Phase 4 (1991 to till Date): The process of economic liberalization was initiated by the
Indian PM Narsimha Rao and his finance minister Manmohan Singh in 1991 with the
goal of making the Indian economy more market and service-oriented. This phase is
known for liberalization, privatization and globalization (LPG). It focuses more on
expanding the role of private and foreign investment in India and ending the licence
and permit raj.
33. Theological Ethics and
Philanthropy
Hinduism and Philanthropy
A. Philosophy of Purusharth in Hinduism
Buddhism and Philanthropy
A. Buddha and his teachings
Islam and Philanthropy
A. Islamic Banking
Christianity and Philanthropy
Sikhism and Philanthropy