Topics of discussion1.Definitions– Need and significance of CSR2.Concepts involved in developmentSocial responsive Business Practices3.Corporate Citizenship4.Social Contract5.Approaches to CSR6.Principles of CSR7.CSR Pyramid8.Triple Bottom Line approach9.Responsibilities of Business towards Stakeholders10.Advantages of CSR11.Green Management Practices12.Challenges involved in implementationDR.MEERA UDAY2
CSR-Corporate SocialResponsibilityThe term "corporate social responsibility" became popular in the 1960s and has remained a termused indiscriminately by many to cover legal and moral responsibility more narrowly construed.CSRis "A company’s sense of responsibility towards the community and environment (bothecological and social) in which it operates.Companies express this citizenship(1) through their waste and pollution reduction processes,(2) by contributing educational and social programs and(3) by earning adequate returns on the employed resources."A broader definition expands from a focus on stakeholders toinclude philanthropy and volunteering.DR.MEERA UDAY3
Meaning:Corporate social responsibility is a gesture of showing the company’s concern &commitment towards society’s sustainability & development.CSR is the ethical behaviour of a company towards society.
NEED FOR CSR:Corporatesocialresponsibility(CSR) promotes a vision of businessaccountability to awide range of stakeholders , besides shareholders andinvestors .Key areas of concern are environmental protection and thewellbeing ofemployees , the community and civilsociety in general, both now and in thefuture.The concept of CSR is underpinned by the idea that corporations can no longeract as isolated economic entities operating in detachmentfrom broader society.Traditional views about competitiveness , survival and profitability are beingswept away.DR.MEERA UDAY5
Drivers of CSR1. SHRINKING ROLE OF GOVERNMENTTheshrinking role of government In the past,governments haverelied on legislation andregulation to deliver social and environmentalobjective s in the business sector .Shrinking governmentresources , coupledwith a distrust of regulations , has led to theexploration of voluntary and non -regulatoryinitiatives instead.2 .DEMANDS FOR GREATERDISCLOSUREThere is a growing demandfor corporatedisclosurefromstakeholders , includingcustomers , suppliers , employees ,communities , investorsand activistorganizations .DR.MEERA UDAY6
Drivers of CSR3. INCREASED CUSTOMER INTERESTThere is evidence that the ethical conduct ofcompanies exerts a growing influence on thepurchasing decisions of customers .