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Corporate Social Responsibility

What is Corporate Social Responsibility

Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, employees, shareholders, communities and the environment in all aspects of their operations.

Impact On Society

Why CSR ?

A study conducted says CSR can help Soothing diversion from the routine work Boost the employee morale Enhances corporate brand image, trust and reputation Increases ability to attract, motivate & retain most talented workforce

Factors Influencing CSR


Globalization coupled with focus on cross border trade, multinational enterprises and global supply chains Governments and intergovernmental bodies

Advances in communication technology Increasing interest of consumers and investors in supporting CSR Numerous serious and high profile breaches of corporate ethics

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Increasing awareness of the limits of government legislative and regulatory initiative Business recognizing that adopting an effective approach to CSR can reduce risk of business disruption

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CSR is Not a Charity

Increase the Revenue Quality and value of Product Employee loyalty and Employee Satisfaction So, CSR is give & take process and not a charity.

Difference Between Charity and CSR


CHARITY
Means donating money, goods, time or effort For poor and needy cause It is selfless giving toward any kind of social need

CSR
It is how company align their value to social cause It can be people centric or planet centric It is not self less act, company derive long term benefit from CSR

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Triple Bottom Line Approach to CSR


Coined in 1997 by John Ellington It is based on the thought that business entities have more to do than make profit for the owner of the capital People, Planet and Profit is used to describe the triple bottom line Profit is the bottom line shared by all commerce

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People Issues
Health Safety Diversity Ethnicity Education and Literacy Prevention of Child Labour

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Companies Following CSR

Conclusion

CSR involves a commitment by a Company to manage its role in society as Producer, Employer, Customer and Citizen in a responsible and sustainable manner. That commitment can include a set of voluntary Principles and above applicable legal requirement that seek to ensure that the Company has a positive impact on the Society in which it operates. We need to appreciate the fact that business can survive and grow only if they ensure that the Society in which they operate develops capacity for long term sustenance.

Thank You

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