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CSR
- 2. Corporate Social Responsibility Definition Definition What is Corporate Social Responsibility? CSR! Is that really for me? So technical, very expensive!! I’m overwhelmed
- 3. Definition Corporate Social Responsibility Definition What is Corporate Social Responsibility? ‘Corporate Social Responsibility is 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’. – World Business Council For Sustainable Development
- 4. Corporate Social Responsibility Definition Definition What is Corporate Social Responsibility? Corporate Social Responsibility The responsibility of business towards the society
- 5. Definition Corporate Social Responsibility Our Definition A voluntary initiative on the part of a business to contribute to a better society and a greener and cleaner environment. Definition
- 6. Definition Corporate Social Responsibility Analysis of the definition by the World Business Council For Sustainable Development • Expectation of stakeholders that companies should behave ethically • Expectation that business should contribute to economic development • Expectation that business should improve the quality of life of its workforce and their families • Expectation that business should play active part in the improvement of the society Definition
- 7. Myths surrounding CSR CSR is not for small businesses It is too complicated and technical It is too expensive It is a market gimmick It is a separate corporate initiative Corporate Social Responsibility
- 8. Benefits of CSR Corporate Social Responsibility Legislative Framework Winning new businesses Enhanced Relationship with stakeholders Increase in customer retention Saving money on energy and operating cost Benefits of CSR Differentiating yourself from the competitor Enhancing your influence in the industry Attracting, Retaining and Maintaining a happy workforce Media interest and good reputation Access to funding opportunities
- 9. CSR as a Corporate Culture Culture as a norm CSR as a group concept Corporate Social Responsibility Synchronisation of CSR with company business strategy
- 10. Corporate Social Responsibility Stakeholder Dynamics CSR – Driver and Stakeholder Dynamism Driver of CSR Use of Changer Agent Impact of Change Resistance to Change Managing the Change
- 11. CSR Initiatives Corporate Social Responsibility Guiding Principles for CSR Projects • CSR is about corporate citizenship • It is about giving back to the society • It is about business sustainability • It is about thriving in a competitive business environment
- 12. CSR Initiatives Corporate Social Responsibility CSR Projects for Businesses Market focused initiative Product focused initiative Employee focused initiative Society focused initiative Environmental focused initiative
- 13. Corporate Social Responsibility CSR Initiatives CSR Projects for Businesses Employee focused initiative Society focused initiative Market focused initiative Result - Driven CSR = Benefits Environmentally focused initiative Product focused initiative
- 14. Practical Application of CSR Corporate Social Responsibility Guidelines • You need to evaluate various aspects of your business and operations • You need to evaluate the impact your business is having on your stakeholders. • Then set realistic targets on how to improve your business operations and processes. • Draw up a result- driven CSR Policy. • Embed your CSR into your business strategy. • A good CSR Policy must be result-driven • Business assessment is important