Corporate Social Responsibility

Corporate Social Responsibility Neeraj Sharma Milan Bir

Contents:- Introduction Development by CSR Why CSR Developing a CSR program CSR Model 2/26/2010 2

What is CSR? A concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment.” Bowen "Father of CSR“ ,[object Object],2/26/2010 3

Development by CSR:- ,[object Object],CSR recognizes that in order to be successful over the long term, a business must actively manage. Add value to all its stakeholder relationships, not just to the bottom line. Maximize the company's positive impact and minimize the negative impact. 2/26/2010 4

Contd… CSR is not an optional `add-on' to the core business activity; it is an expression of the core value system and philosophy of the business. CSR has moved from a position of ethics based ‘corporate giving' to one of core corporate strategy. 2/26/2010 5

Why CSR:- Business has to earn the approval of society. A greater demand for transparency, accountability and public reporting, and as we have seen, increasing legislative demands for corporate responsibility. A high level of cynicism by consumers concerning the degree to which businesses manage their responsibilities to society. Corporate scandals. 2/26/2010 6

Contd… A 2000 European survey of consumer attitude towards CSR showed that 58% of consumers said that businesses do not pay enough attention to their social responsibilities. This increased to 65% in 2004. In Sweden all 55 state owned companies in Sweden have to file an annual sustainability report based on the Global Reporting Initiative (GRI). 2/26/2010 7

Example:- Sweden World Number 1 country applying CSR. All 55 states have CSR. 7 companies are in top 100. 25 public companies self declared using CSR. Volvo, Vattenfall and ABB enjoy solid reputations for responsible global corporate activities. 2/26/2010 8

Developing a CSR program:- 2/26/2010 9

Developing a CSR strategy and programme:- FOUR pillars: Marketplace – market innovations; ethical trading; customer service. Workplace – diversity; flexible working; employee engagement; ambassador programmers. Environment – improving waste to landfill and recycling; reducing environmental impacts (green energy). Community – community contributions; charity partnerships; helping tackle social issues. 2/26/2010 10

Benefits to Companies CSR Issues ,[object Object]

Corporate Social Responsibility

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