Course Overview

Principles of CSR, Evolution, Purpose Emerging dimensions of CSR in India & the world Implications of CSR on business Global Instruments for CSR Implementation CSR as a strategy CSR Future implications

CSR- Definition
1. A collection of policies and practices linked to relationship with key stakeholders, values, compliance

with legal requirements, and respect for people,

communities and the environment; 2. The commitment of business to contribute to sustainable development

Why CSR????

A few days after hurricane Katrina devasted

America's Gulf coast ........Fortune magazine reported

Government broke down, Business stepped

up.......... Hurricane Katrina brought out the

worst in Washington and the best in

business.

Why CSR ????

Building on a base of compliance with legislation and regulations, CSR typically includes "beyond law" commitments and activities pertaining to: Corporate governance and ethics Health and safety Environmental stewardship Human rights (including core labour rights) Human resource management Community involvement, development investment

and

Why CSR ????

Involvement of and respect for all people Corporate philanthropy and employee volunteering Customer satisfaction and adherence to principles of fair competition Anti-bribery and anti-corruption measures Accountability, transparency and performance reporting Supplier relations, for both domestic and international supply chains.

Sustainable Development for Business

SD- adopting business strategies and activities that meet the needs of the enterprise and its stakeholders today while protecting, sustaining and enhancing the human and natural resources that will be needed in the future.

Emergence of CSR

CSR formally emerged due to Globalization

Environmental catastrophe and

Industrial negligence (Bhopal Gas Tragedy) This led to necessary revision of the commitment companies have with the human collectives and environment.

History of CSR in India

Phase I - Pure Philanthropy and Charity
during Industrialization Phase II -CSR as social development during freedom struggle Phase III - CSR under the mixed

economy paradigm
Phase IV- CSR in a globalized world in

CSR & Stakeholders

GOI Voluntary CSR Guidelines2009

1. Care for all Stakeholders 2. Ethical functioning 3. Respect for Workers' Rights and Welfare 4. Respect for Human Rights 5. Respect for Environment 6. Activities for Social and Inclusive Development ( education, skill building for livelihood of people, health, cultural and social welfare)

Key potential benefits for firms implementing CSR

Better anticipation and management of an everexpanding spectrum of risk Improved reputation management Enhanced ability to recruit, develop and retain staff. Improved competitiveness and market positioning. Enhanced operational efficiencies and cost savings. Avoiding Crisis Due to CSR Misconduct

UNDP- MDG's 2015

The Millennium Development Goals Eight Goals for 2015 1 Eradicate extreme poverty and hunger 2 Achieve universal primary education 3 Promote gender equality and empower women 4 Reduce child mortality