Corporate social responsibility (CSR) refers to a company's commitment to operate in an economically, socially, and environmentally sustainable manner. CSR involves companies integrating social and environmental concerns into their business operations and interactions with stakeholders like employees, customers, investors, and local communities. The document traces the development of CSR from the 1950s to present day and outlines the types of CSR activities companies engage in as well as the benefits of CSR programs. It also discusses CSR in India and concludes that CSR is important for companies to contribute to society and gain benefits like improved brand image and competitive advantages.
Corporate Social Responsibility Definition, CSR, Corporate Social Responsibility Scope, Scope of Corporate Social Responsibility, Scope of CSR, CSR Scope, Activities Under Corporate Social Responsibility, Activities under CSR, Difference Between Corporate Social Responsibility and Charity, Difference Between CSR & Charity
Corporate Social Responsibility (CSR) Aadhil Ahmed
Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship or responsible business) is a form of corporate self-regulation integrated into a business model.
Corporate Social Responsibility Definition, CSR, Corporate Social Responsibility Scope, Scope of Corporate Social Responsibility, Scope of CSR, CSR Scope, Activities Under Corporate Social Responsibility, Activities under CSR, Difference Between Corporate Social Responsibility and Charity, Difference Between CSR & Charity
Corporate Social Responsibility (CSR) Aadhil Ahmed
Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship or responsible business) is a form of corporate self-regulation integrated into a business model.
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CSR is a process by which an organization thinks about and evolves its relationships with stakeholders for the common good and demonstrates its commitment in this regard by adoption of appropriate business processes and strategies. Thus, CSR is no charity or mere donations.
CSR is a way of conducting business, by which corporate entities visibly contribute to the social good. Socially responsible companies use CSR to integrate economic, environmental and social objectives with the company’s operations and growth.
Many other names are used to refer to CSR such as socially responsible business, responsible business conduct, responsible entrepreneurship, corporate citizenship, corporate accountability or corporate sustainability.
It is the continuing commitment by businesses to behave ethically & contribute to economic development while improving the quality of life of the workforce & their families ,local communities and the society at large
CSR requires companies to acknowledge that they should be publicly accountable not only for their financial performance but also for their social and environmental record.
It encompasses the extent to which companies should promote human rights, democracy, community improvement and sustainable development objectives throughout the world.
CSR is the commitment of businesses to contribute to sustainable economic development working with employees, their families, the local community and society at large to improve their quality of life in ways that are both for business and good for international development
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Symposium csr
1.
2. What is Corporate Social
Responsibility?
Corporate Social Responsibility is the
continuing commitment by business
to behave ethically and contribute to
economic development, improving
the quality of life of :
• The workforce and their families,
• The local community and,
• The society at large.
3. DEVELOPMENT OF CORPORATE SOCIAL
RESPONSIBILITY
• In the 1950s the primary focus was on businesses'
responsibilities towards the society.
• In the 1960s, the term "corporate social responsibility"
became popular due to some key events, people and their
ideas.
• In the 1980s, business and social interest came closer and
firms became more responsive to their stakeholders.
• During the 1990s the idea of CSR became almost universally
approved.
• Finally in the 2000s, CSR became definitively an important
strategic issue.
4. Types of Corporate Social
Responsibility
1. Economic Responsibilities - A company needs to be primarily concerned with
earning profit. This is for the simple fact that if a company does not make
money, it won't last long to contribute.
2. Legal Responsibilities - A company's most legal responsibility is, ensuring that
it obeys all type of laws. Legal responsibilities can range from securities
regulations to labour law, environmental law and even criminal law.
CSR can encompass a wide variety of tactics, from giving non-profit
organisations a portion of a company's profits, to giving away a product or
service to a worthy recipient. Few broad categories of social responsibility
are :
5. 3. Ethical Responsibilities - Ethical
responsibilities are responsibilities
that a company puts on itself
because its owners believe it's the
right thing to do, not because they
have an obligation to do so. Ethical
responsibilities could include being
environmentally friendly, paying fair
wages or refusing to do business
with oppressive countries.
4. Philanthropic Responsibilities -.
They involve making an effort to
benefit society -- for example, by
donating services to community
organizations, engaging in projects
to aid the environment or donating
money for charitable causes.
6.
7.
8. BENEFITS OF CORPORATE
SOCIAL RESPONSIBILITY
• Innovation – In the context of CSR, innovation is
a huge benefit to a company and society. For
example, Unilever was able to innovate new
products such as a hair conditioner that uses
less water to save the precious natural source.
• Cost savings – One of the easiest places for a
company to start engaging in sustainability is to
use it as a way to cut costs. Whether it’s using
less packaging or less energy, these savings add
up quickly.
• Customer engagement – Using CSR can help
companies engage with their customers in new
ways..
• New business opportunities - A CSR program
requires an open, outside oriented approach.
Because of continuous interaction with other
parties, the company will be first to know about
new business opportunities.
9. • Employee engagement - Employees want to feel proud of the organization they
work for. Because of the high positive impact of CSR on employee wellbeing and
motivation, the role of HR in managing CSR projects is significant.
• Long-term thinking – CSR is an
effort to look at the company’s
long-term interest and ensuring
that the company’s future is
sustainable.
• Positive PR - CSR provides the
opportunity to share positive
stories online and through
traditional media.
10.
11. List of Top 25 CSR ranking companies
(2010) in the USA
12. CSR in India
•Among other countries India has one of the
most richest traditions of CSR. Much has been
done in recent years to make
Indian entrepreneurs aware of social
responsibility as an important segment of their
business activity but CSR in India has yet to
receive widespread recognition.
•CSR is not a new concept in India. Ever since
their inception, corporate like Tata Group,
Aditya Birla Group and Indian Oil Corporation
to name a few, have been involved in serving
the community. Through donations and charity
events, many other organizations have been
doing their part for the society.
•The Indian corporate sector spent around
US$6.31 billion on social expenditure in the year
of 2007-08, up from US$3.68 billion from the
last year.
14. Limitations of CSR
The results of CSR compliance are generally viewed as a good thing by most
companies. Disadvantages lie in allocating time and resources necessary to
develop a CSR approach that meets governmental and social standards and
achieves compliance with informal CSR guidelines related to social and
environmental responsibility. Following are its limitations:
15. 1. Role of Profit - CSR requires companies to
recognize responsibilities to stakeholders
outside of shareholders. While
proponents of CSR point out the long-
term benefits of taking care of these core
relationships, shareholders often rebel at
the notion that companies will invest in
anything that does not create
immediately obvious financial gain.
2. Competitive Disadvantage - One of the
most common arguments companies
make against CSR policies is the
disadvantage it causes as compared to
companies that do not participate.
3. Lasting Impact - CSR has existed for
decades, but its prominence as a major
business consideration has increased due
to heightened awareness of ethical issues
in business and environmental
preservation standards.
16. Conclusion
The term Corporate Social
Responsibility has earned
prominence from all avenues.
Organizations or companies must
realize that government cannot uplift
the society alone. They have to
contribute something and help the
government and take advantage from
government in several issues. Due to
this the companies can increase their
brand image in the society and think
for the future planning. The
competitor risks also reduced for
those companies which are doing
these activities. Hence, Corporate
Social Responsibility is the harbinger
of social change.