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Corporate Social Responsibility
- 1. Strategies in CorporateSocial Responsibility Pooja Krishna Neetu Sharma
- 4. Meaning: • Corporate socialresponsibility is a gesture of showing the company’s concern & commitment towards society’s sustainability & development. • CSR is the ethical behaviour of a company towards society.
- 5. Outline • Definition andImportance • Components • Basic Principles and strategies • Strategies in adoption of CSR • Steps to developing a profitable csr • New frontier in csr • Conclusion
- 6. World Business Councilfor Sustainable Development (WBCSD) “The continuing commitment by business to behave ethically and contribute to sustainable economic development while improving the quality of life of the workforce and their families as well as of the local community and society.”
- 7. Synonyms • Corporate citizenship •Corporate responsibility • Responsible business • Sustainable responsible business • Corporate social performance
- 8. Importance • Improves publicimage • Increases media coverage • Boosts employee engagement • Attracts and retains investors • Showing a true commitment • Government relations • Reduces the social cost
- 9. Benefits of CSR Winning new businesses Enhancingyour 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 Benefits of CSR
- 10. Pyramid of CSR Philanthropic responsibilities Ethicalresponsibilities Legal responsibilities Economical responsibilities
- 11. Examples • Google • Xerox •Ben and Jerry’s • Starbucks • Tom’s shoes • IBM UK • TOI’S lead campaign
- 12. CSR Principles &Strategies. • Respect for human rights. • Respect for the differences of views. • Diversity & non-discrimination should be the guiding principle. • Make some social contribution. • Enter into e dialogue • Self-realization & creativity. • Fair dealings & collaboration. • Feedback from the community. • Positive value- added • Long term economic & social development.
- 13. Social Responsibility strategies Reaction Defence Accomodation Proaction •A continuum of possible strategies based on the organisation’s tendency to be socially responsible or responsive
- 14. Social Responsibility strategies •Reaction – An approach to CSR that includes an organisation denying responsibility for its actions. • Defence – Organisations that pursue a defence strategy respond to social challenges only when it is necessary to defend their correct position
- 15. Social Responsibility strategies •Accomodation – An approach to CSR that adapts to public policy in doing more than the minimum required. • Proaction – An approach to CSR that includes behaviours that improve society. – Organisations that assume a proaction strategy subscribe to the notion of social responsiveness.
- 16. Models of corporatesocial responsibility • Friedman model • Ackerman Model • Carroll Model • Environmental Integrity & Community Model. • Corporate Citizenship Model. • Stockholders & Stakeholders Model. • New Model of CSR.
- 17. Friedman Model(1962-73) • Abusinessmen should perform his duty well, he is performing a social as well as a moral duty. • A businessmen has no other social responsibility to perform except to serve his shareholders & stockholders.
- 18. Ackerman Model (1976) •The model has emphasized on the internal policy goals & their relation to the CSR. • Four stages involved in CSR. » Managers of the company get to know the most common social problem & then express a willingness to take a particular project which will solve some social problems. » Intensive study of the problem by hiring experts & getting their suggestions to make it operational. » Managers take up the project actively & work hard. » Evaluating of the project by addressing the issues.
- 19. Corporate Citizenship Model •To be a corporate citizen, a corporate firm has to satisfy four conditions: • Consistently satisfactory • Sustainable economic performance • Ethical actions • Behaviour. • A particular firm’s commitment to corporate citizenship requires the fulfillment of certain social responsibilty.
- 20. Stockholders & StakeholdersModel 1 Productivism 2 Progressivism 3 Philanthropy 4 Ethical Idealism Self Duty Interest Stakeholder Model Stockholders Model Moral ORIENTATION MOTIVES
- 21. • Productvists believethat the only mission of a firm is to maximize the profit. • Philanthropists who entertain the stockholders. CSR is dominated by moral obligations & not self-interest. • Progressivists believes the corporate behaviour basically motivated by self interest & should have ability to transform the society for good. • Ethical Idealism concern with sharing of corporate profits for humanitarian activities. Stockholders & Stakeholders Model
- 22. New Model ofCSR CSR (+) CSR(-) CSR(-) CSR(-) Ethical Rooting FinancialCapability Strong Poor StrongPoor
- 23. Steps to developinga profitable CSR • Define your messaging • Involve your customers • Create a scorecard • Use social media • Partner with a third party • Seek publicity • Repurpose your CSR reports
- 24. New frontiers inCSR • Responsible lobbying • Promoting spirit of philanthropy • Transparency in organisation • More proactive contributions
- 25. Implementing CSR strategies •Develop integrated CSR decision making structure • Prepare and implement CSR business plan • Identify performance measures • Establish mechanisms for addressing problematic behavior • Create internal and external communication plan
- 26. Conclusion • CSR isan integral part of the business plan • Improves the perceived image of the company for the employees, clients, investors and govt. • CSR strategy has to be tailor-made for the company • Productivity and profit cannot be compromised • Giving back to the environment.
Editor's Notes
- #23 CASE I – CSR undertaken because both are strong. CASE II – Rooting strong but capability is poor CSR is not undertaken. CASEIII- Rooting poor CSR Not undertaken. CASEIV – Both poor CSR Not undertaken.