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Responsibility
Primary Stakeholders
Secondary Stakeholders
Distribute
products
Sell
labor
Business firm
Buy
products
Customers
Invest
capital
(Managers)
Lend
money
Sell
materials
Suppliers
Creditors
The
General
Public
Business
Support
Groups
Local
Communities
Positive,
negative
opinion
Advice,
research
Jobs,
environment
Regulation,
taxes
Business Firm
(Managers)
Friendly,
hostile
Image,
publicity
Media
Central/State
and Local
Governments
Social
demands
Social
Activist
Groups
Governments
Meaning of CSR
By the term Corporate Social Responsibility
(CSR) what is generally understood is that
business has an obligation to society that
extends
beyond
its
obligation
to
its
shareholders or owners.
DEFINITIONS OF CSR
Accountability to Society
In a democratic society any kind of
enterprise exists for the sake of society.
Corporations Debt to Society
A corporation has to behave as a good
citizen as it draws its resources from
society. The corporation has to donate
generously towards causes of public
welfare and must get itself directly
involved in social welfare programmes.
Loyal Employees
&
Customers
Less Media
Harassment
Access to
Capital
Improves
Improves
Productivity
Better
Environment
Community
Goodwill
DIFFERENCE
GOOD
COMPANY
GREAT
COMPANY
Excellent Products
&
Services
Excellent
Products/services
&
Makes the world a better
place
Emphasis
Proponent
Ethical
Voluntary commitment by
companies to public welfare;
Org as trustee
Mahatma Gandhi
Statist
Jawaharlal Nehru
Liberal
Corporate responsibilities
limited to shareholders
Milton Friedman
Stakeholder
R. Edward Freeman
Declaration
of
social
Corporate citizenship
Realization that if social development is
neglected, business cannot prosper.
Government alone cannot handle all social
issues.
of
core
competencies
of
the
Implementation of CSR
5.
1)
4)
5)
6)
7)
8)
9)
broader
that
constituency
go
beyond
than
simple
Definition of CSR
CSR means operating a business in a manner that
meets or exceeds the ethical, legal, commercial
and public expectations that the society has of
business.
The World Business Council for Sustainable
Development defines CSR as: the continuing
commitment by business to behave ethically and
contribute to economic development while
improving the quality of life of the workforce and
their families as well as of the local community
and society at large.