Csr by anjitha lekshmi
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Corporate Social Responsibility (CSR) extends corporate governance by ensuring companies manage their business processes for a positive societal impact. It emphasizes responsibilities towards various stakeholders, including society, government, shareholders, employees, and consumers, promoting ethical standards and sustainable practices. Examples of CSR initiatives include BMW's environmental education project and Mahindra & Mahindra's profit contributions to social causes.
Csr by anjitha lekshmi
- 2. WHAT IS CSR? • CSR is an extended model of corporate governance. • CSR is about how companies mange the business processes to produce an overall positive impact on the society. • CSR is the responsibility of corporations to go above and beyond what the law requires them to do. • CSR is the responsibility of corporations to contribute to a better society and cleaner environment.
- 3. EU Definition of CSR “ A concept whereby companies integrate social and environmental concern in their business operations and in their interactions with their stakeholders on a voluntary basis.”
- 7. • Corporate Citizenship • Corporate Responsibility • Responsible Business • Sustainable Responsible Business • Corporate Social Performance
- 8. Basic Constituents of CSR Contribute towards a sustainable economic development Make desirable social changes Improvement of social environment Towards Business & Society
- 9. Types of Social Responsibility Social Responsibility is a central thought. Responsibility towards Society Responsibility towards Government Responsibility towards Shareholders Responsibility towards Employee Responsibility towards consumers
- 10. Responsibility towards Society • Carrying out business with morals & ethical standards. • Prevention of environmental pollution. • Minimizing ecological imbalance. • Contributing towards the development of social health education. • Making use of appropriate technology. • Overall development of locality.
- 11. Responsibility towards Government • Obey rules and regulations • Regular payment of taxes • Cooperating with the Govt to promote social values. • Not to take advantage of loopholes in business laws. • Cooperating with the Govt for economic growth and development.
- 12. Responsibility towards Shareholders • To ensure a reasonable rate of return over time. • To growth for the survival and the growth of the concern. • To build reputation and goodwill of the company. • To remain transparent and accountable.
- 13. Responsibility towards Employee • To provide healthy working environment. • To grant regular and fair wages. • To provide welfare services. • To provide training and promotion facilities. • To provide reasonable working standard and norms. • To provide efficient mechanism to redress worker’s grievances. • Proper recognition of efficiency and hard work.
- 14. Responsibility towards consumers • Supplying socially harmless products. • Supplying the quality, standards as promised. • Adopt fair pricing. • Provide after sales services. • Resisting black-marketing and profiteering. • Maintaining consumer’s grievances cell. • Fair competition.
- 15. CSR Principles and Strategies. • Respect for human rights. • Make some social contribution. • Positive value-added. • Fair dealings and collaboration. • Long term economic and social development.
- 16. EXAMPLES • BMW “The Schools Environmental Education Development Project”. • Mahindra & Mahindra decided , its 60th year to donate 1% profits after tax into CSR( around 1.3 crore) • IBM award for the most innovative virtual project. • Tata Power: education,environment,community development,health,safety,security,women empowerment etc.