Corporate social responsibility it's 4 part model ,benefits and case study for both good and poor csr

1. Corporate
Governance
A PROJECT ON

2. Corporate social responsibility (CSR) refers to
business practices involving initiatives that benefit
society.

4. i. Economic Responsibility:
A corporation has to meet its economic responsibilities in terms of
reasonable return to investors, fair compensation to employees, goods at
fair prices to customers, etc. Thus, meeting economic responsibility is the
first-layer of responsibility and also the basis for the subsequent
responsibilities. The fact remains that meeting economic responsibility is
must for all corporations to survive in the time.
ii. Legal Responsibility:
The legal responsibility of business corporations demands that businesses
abide by the law of land and play by the rule of the game. Laws are the
codification of do’s and don’ts do’s in the society. Abiding by laws is the
prerequisite for any corporation to be socially responsible.

5. iii. Ethical Responsibility:
These responsibilities refer to obligations which are right, just, and fair to be
met by corporations. Just abiding by law, procedure, and rule and
regulations does not make business conduct always as ethical or good. The
conduct of corporations that go beyond law and contribute to social well
being is called ethical.
iv. Philanthropic Responsibility:
Making donations to charitable institutions, building of recreational facilities
for employees and their families, support for educational institutions,
supporting art and support activities, etc. are the examples of philanthropic
responsibilities discharged by the corporations. It is important to note that
the philanthropic activities are desires of corporations, not expected by the
society.

6. TOP CSR STATISTICS
• $17.8 BILLIONTHE AMOUNT THAT CORPORATIONS GAVE TO CHARITIES LAST
YEAR.
• 55%OF CONSUMERS ARE WILLING TO PAY MORE FOR PRODUCTS FROM
SOCIALLY RESPONSIBLE COMPANIES.
• 65%OF FORTUNE 500 COMPANIES OFFER MATCHING GIFT PROGRAMS.
• 93%OF THE WORLD’S LARGEST 250 COMPANIES NOW PUBLISH ANNUAL CSR
REPORTS
• SOURCE: DOUBLE THE DONATION RESEARCH

7. IMPORTANCE OF CSR
For the Company-
Improves Public Image
A corporation’s public image is at the mercy of its social responsibility programs
and how aware consumers are of these programs.
Remember, consumers feel good shopping at institutions that help the community.
Clean up your public image
Boosts Employee Engagement
Employees like working for a company that has a good public image and is
constantly in the media for positive reasons.
Happy employees almost always equal better output.
It enhances relationships with clients
A strong corporate social responsibility framework is essential to building and
maintaining trust between the company and clients.

8. FOR EMPLOYEES
• POSITIVE WORKPLACE ENVIRONMENT
When corporations exhibit philanthropic behavior, they are
more likely to provide employees with a positive
workplace. Consequently, employees feel engaged and
productive when they walk into work each day.
• Encourages Professional & Personal Growth
When employees contribute their time and money to
worthy causes, they develop professionally and personally.

9. DRIVING FORCES BEHIND CSR
1.Transparency: Companies can no longer hide things.What companies do for
either the good or the bad will be known almost instantaneous.
2. Knowledge: With all the information we can find today ,consumers will be able to
access these companies files and when purchasing between products that are similar
in nature, will be able to choose the one that has the best CSR
3. Globalization: Which is the cooperations of people, companies and governments
of different nations to come together and create a plan for our future so we will be able
to sustain life here on our planet for as long as possible.

10. 4. Sustainability: There has been a huge topic lately around the world,
that with our population so high we have crossed the sustainable yield
threshold of many of our natural environmental systems that we heavily rely
on. This is a major problem for us and some of these companies that
heavily rely on these environmental systems for there business and are under
a great deal of pressure to cut back and show they are doing there best to be
environmentally friendly, for the good of our future.

12. TATA STEEL (GOOD CSR)
Tata Steel believes that the primary purpose of a business is to improve the quality of life
of people. Tata Steel will volunteer its resources, to the extent that it can reasonably
afford, to sustain and improve a healthy and prosperous environment and to improve
the quality of life of the people of the areas in which it operates."
-B. Muthuraman, Vice Chairman, Tata Steel.

13.  Tata Steel believes that a company should contribute to the
communities in which it operates. As such Tata Steel spends
5-7% of its profit after tax on CSR initiatives, such as
environmental sustainability and social development.
 Tata Steel’s CSR policy focuses on Education,Health,Rural
Development and sports.

14. VOLKSWAGEN (FAILED CSR)
The Volkswagen case represents above all an absolute failure in terms
of Corporate Social Responsibility (CSR). The company deliberately set out
to design a means to circumvent emissions control—a stratagem known at
the highest levels—with the aim of giving the company an unfair advantage
over its competitors
The Volkswagen case shows in stark contrast that we must reinvent CSR.
The people who head these departments must be made responsible for their
companies’ actions

15. By-
Navinso Ama 1313
Rahul Das 1319
Prajwal Pathare 1342
Ramprasad Patil 1320
Raunak Chhilwar 1334
Yash Chordia 1350
Akshit Setia 1282