CORPORATE SOCIAL RESPONSIBILITY

WHAT IS CSR......

The independent submission of social and ecological responsibility of companies is called Corporate Social Responsibility (CSR). Corporate social responsibility is basically a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment. Corporate social responsibility is represented by the contributions undertaken by companies to society through its business activities and its social investment. This is also to connect the Concept of sustainable development to the company’s level.Over the last years an increasing number of companies worldwide started promoting their Corporate Social Responsibility strategies because the customers, the public and the investors expect them to act sustainable as well as responsible....

CSR IN INDIA

In India there are an existent but small number of companies which practice CSR. This engagement of the Indian economy concentrates mainly on a few old family owned companies, and corporate giants such as the Tata and Birla group companies which have led the way in making corporate social responsibility an intrinsic part of their business plans. These companies have been deeply involved with social development initiatives in the communities surrounding their facilities. Jamshedpur, one of the prominent cities in the northeastern state of Bihar in India, is also known as Tata Nagar and stands out at a beacon for other companies to follow. Jamshedpur was carved out from the jungle a century ago. TATA’s CSR activities in Jamshedpur include the provision of full health and education expenses for all employees and the management of schools and hospitals.In spite of having such life size successful examples, CSR in India is in a very nascent stage.

CONTRIBUTIONS OF CSR

IMPORTANCE OF CSR

CSR is important because businesses are based on trust and foresight. Establishing and keeping trust with customers, communities and regulators isn’t simple and can be easily damaged or lost. To be successful in the long-term, companies need to think beyond what’s affecting them today to what’s going to happen tomorrow. This isn’t just about addressing changes to technology or the needs of customers, but also taking into account alterations in social, environmental and governance issues. 

COMPANIES

PRACTICING

CSR

Is CSR the same as business ethics?

There is clearly an overlap between CSR and business ethics

Both concepts concern values, objectives and decision based on something than the pursuit of profits

And socially responsible firms must act ethically

The difference is that ethics concern individual actions which can be assessed as right or wrong by reference to moral principles.

OBJECTIVES OF CSR.....1.Basic objective of CSR these days is to maximise the company’s overall impact on the society and stakeholder. 2.To give back the community in the best possible way in return to the resources.3.To create awareness about the company & build its public profile.4.Support various national campaighs on social & develop issues that need support to have a greater impact.eg. Sustainable development,education,health & sanitation & helps community to develop at large.5.To maintain long run success of the business & achieve customer loyalty..

GUIDELINES OF CSR......

THESE GUIDELINES ARE GIVEN BY MINISTRY OF CORPORATE AFFAIRS, GOVT. OF INDIA

THESE ARE KNOWN AS THE NATIONAL VOLUNTARY GUIDELINES FOR SOCIAL, ENVIRONMENTAL AND ECONOMIC RESPONSBILITY OF BUSINESS

POLICIES OF CSR......Companies following CSR has a vision to actively contribute to the social and economic development of the communities in which they operate. In doing so, they build a better sustainable way of life for the weaker sections of the society and raise the country’s human development index.Like, in education their aim is to spark the desire for learning & knowledge at every stage through maybe formal school,quality primary education, girl child education etc to be cont...

In health care to render better health facilities living in the villages,the rural areas through primary health care centres, mother and child care projects etcIn Infrastructure developmentThrough basic infrastructure•Housing facilities• safe drinking water• Renewable sources of energy etc

CONCLUSION

Increasing social issues impacts the entire society in general &business in particular because to a large extent business is dependent on the society for its growth & prosperity. Both public & private efforts must be extended to solve the problemsidentified. CSR can thus be expressed in terms of three principles: legitimacy, public responsibility & managerial discretion. We need to create innovative strategies & methodologies – which creates win-win situation for all & communicate to others how consultative & collaborative model of change is really profitable for all.

THANK YOU PRESENTED BY........

PROMITA MAJUMDAR SHERYL MEHRA KRITIKA GHAI AKSHAY CHAUHAN