corporate social responsibility
DESCRIPTION
Corporate social responsibility. To reflect for few moments…. I have failed over and over again in my life. And that is why I succeed…… Michael Jordan The mind is not a vessel that needs filling but wood that needs lighting…….. Plutarch. What is csr. Influences on csr. - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/1.jpg)
CORPORATE SOCIAL RESPONSIBILITY
![Page 2: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/2.jpg)
TO REFLECT FOR FEW MOMENTS…
I have failed over and over again in my life. And that is why I succeed…… Michael Jordan
The mind is not a vessel that needs filling but wood that needs lighting…….. Plutarch
![Page 3: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/3.jpg)
WHAT IS CSR
Commitment of a business to contribute to sustainable economic development, working with employees and their families, the local community and society at large to improve their quality of life in ways that are good for business and good for development
![Page 4: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/4.jpg)
INFLUENCES ON CSR
Two major concepts – Stakeholder’s model and triple bottom line
Bottom line : Financial, Social, Environmental Thus, CSR can also be defined as operating a
business in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business
Evolution of the concept of Corporate Citizen
![Page 5: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/5.jpg)
FRIEDMAN DILEMMA Suggested that corporate executives could
either strive for profits or go hearing about chasing social causes
The two were inimical to each other as social responsibility was nothing less than unadulterated socialism
Corporate philanthropy was allowed for but only after profits were properly secured
For Friedman corporate philanthropy is all right, but anything resembling CSR is letting the shareholders down
![Page 6: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/6.jpg)
EVOLUTION OF LATE…
Shift from viewing CSR as synonymous with philanthropy to socially responsible investing
Shift from spending a portion of profits for charitable purposes to create an impression of caring for others to taking up responsibilities in societal development activities
CSR must have a business perspective without being obsessed by profits
![Page 7: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/7.jpg)
INFOSYS’S CAMPUS CONNECT Started in 2004, it is a unique industry-academia
initiative that aims to overcome this by creating a vibrant pool of future engineering graduates
“It is our way of walking the talk on building the much-needed link between industry and academia. The focus is on enhancing the industry readiness of the students coming out of our educational institutions” – Krish Gopalakrishnan, CEO and MD
It has been normal practice for most IIT graduates to leave Indian shores for greener pastures in developed nations like the US or Europe facing a severe talent crunch in India. With Campus Connect, Infosys aims to solve the problem
![Page 8: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/8.jpg)
BOSCH The world’s largest private industrial giant
and a billion dollar corporate has done more than its share for the country since 1951
It started an apprenticeship program in 1960 Infusing professionalism into India’s industrial
sector, 500 trained apprentices from Bosch have been bridging the skill gap for companies across the globe every year for almost 50 years
The students have gone on to become industrialists, or managing directors, such as R Ramakrishnan, CMD of GMR Agro-Business
![Page 9: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/9.jpg)
ELEMENTS OF CSR
Desired of business by society
Expected of business by society
Required of business by society
![Page 10: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/10.jpg)
ACTION PLAN FOR CSR – ENVIRONMENT AND ECOLOGY Reduce consumption of energy, water, and
other natural resources and emission of hazardous substances
Establish environment management system Use recycled and recyclable products Increase durability of products and minimize
packaging Train staff in environmental issues
![Page 11: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/11.jpg)
HEALTH AND WELL BEING Establish policies to ensure the health and
safety of all employees – which are known to employees
Involve employees in business decisions that affect them
Operate open book policies Consult employees on how to handle a
downturn in business if layoffs are unavoidable, offer outplacement services, retraining and severance benefits, provide training opportunities
Extend training to life management, retirement planning and dependants’ care
![Page 12: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/12.jpg)
DIVERSITY AND HUMAN RIGHTS Work with charities, job centers to redesign
jobs to make them accessible to the disadvantaged
Set the tone in not tolerating sexists, racists, and homophobic jokes
Support organizations that promote fair trade and human rights compliance
Make sure that staff members are aware that there are explicit policies against discrimination in hiring, salary, promotion, training or termination of any employee on the basis of gender, race, age, ethnicity and disability
![Page 13: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/13.jpg)
COMMUNITY Encourage employee volunteering in the community
payroll giving and back up with financial contributions and help in kind
Make some of business products or services available free or at a cost to charitable products
Look for opportunities to make surplus products and redundant equipment available to local schools charities and community organizations
Offer quality work experience for school children and students
Collaborate with local teachers to make the activity of business the subject of school projects. Use business experience to help local school charity
Use marketing budget to associate business with social cause
![Page 14: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/14.jpg)
SOME BENEFITS OF CSR
Enhanced brand image Employee retention Reduced operational costs Increased community support…
![Page 15: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/15.jpg)
BUSINESS IMPORTANCE OF CSR
Improved financial performance Reduced operating costs Enhanced brand image and reputation Increased sales and customer loyalty Increased productivity and quality Increased ability to attract and retain
employees Reduced regulatory oversight
![Page 16: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/16.jpg)
ARGUMENTS FOR CSR
Balancing corporate power with corporate responsibilities
Discouraging the creation and imposition of government regulations
Focusing on social problems
![Page 17: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/17.jpg)
ARGUMENTS AGAINST CSR Stakeholders bear the costs of corporate
social action (shareholders, employees and consumers) which affect a “corporation’s operating efficiency and weaken competitive position and advantage”
Mismatch of the roles and expectations between the organization and society
Prospects of corporation becoming even more powerful, as they may already exercise considerable power over society
Management is trained in functional areas of management and does not have generic expertise in handling social issues
![Page 18: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/18.jpg)
UN GLOBAL COMPACT
Certain principles provided by Mr. Kofi Annan, UN Secretary General in 1999
Focus is on labor standards, human rights and environment protection
![Page 19: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/19.jpg)
SOCIAL ASPECTS OF CSR
Human rights Labor Consumer protection Respect for national sovereignty and local
communities
![Page 20: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/20.jpg)
DRIVERS OF CSR
Values
Strategy
Public pressure
![Page 21: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/21.jpg)
THREE MODELS OF CSR
1. Competency Driven2. Community Driven3. Consumer Drive
![Page 22: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/22.jpg)
COMPETENCY DRIVEN
Company reaches out to the society by depending on its core competencies
In doing so, it helps create potential stakeholders, and also adds to evolving higher efficiency standards
![Page 23: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/23.jpg)
COMMUNITY DRIVEN CSR
Organizations invest in social welfare but again with a business interest
Idea is to subscribe to a sustainable form of CSR
![Page 24: Corporate social responsibility](https://reader035.vdocuments.net/reader035/viewer/2022070501/56816966550346895de12aa7/html5/thumbnails/24.jpg)
CONSUMER DRIVEN
Consumer pressure has made a great difference in sensitizing companies to the needs of stakeholders
CSR can also help in raising consumer standards and expectations
In this process not only is the consumer benefited, but the company too can hike up the competition in its own market sector