CSR OVERVIEW

• Concept of Corporate Social Responsibility

  ·         Is a moral obligation of each and every individual, institution, business and organization since they all compose the society.
• Concept of Corporate Social Responsibility

  ·         The actions of an organization that are targeted toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations.
• Concept of Corporate Social Responsibility

  ·         Also known as corporate citizenship or corporate conscience

   
• Corporate Social Responsibility

  ·         The obligation of decision makers to take actions which protect and improve the welfare of the society as a whole along with their own interests.
• Corporate Social Responsibility

  ·         The response of the corporation to issues beyond its narrow economic, technical, and legal requirements.
• Corporate Social Responsibility

  ·         means seriously considering the impact of the company’s actions on society.
• 1.       Environmental Efforts

  ·         One primary focus of corporate social responsibility is the environment. Businesses regardless of size have a large carbon footprint. Any steps they can take to reduce those footprints are considered both good for the company and society as a whole.
• 1.       Philanthropy

  Businesses also practice social responsibility by donating to national and local charities. Businesses have a lot of resources that can benefit charities and local community programs.
• 1.       Ethical Labour Practices

  ·         By treating employees fairly and ethically, companies can also demonstrate their corporate social responsibility.
• 1. Volunteering

  Attending volunteer events says a lot about a company's sincerity. By doing good deeds without expecting anything in return, companies are able to express their concern for specific issues and support for certain organizations
• 1.       Altruistic CSR

  ·         Takes a philanthropic approach by underwriting specific initiatives to give back to the company’s local community or designated national or international programs.
• 1.       Strategic CSR

  Runs the greatest risk of being perceived as self-serving behaviour on the part of the organization
• 1.       Strategic CSR

  •         Philanthropic activities are targeted toward programs that will generate the most positive publicity or goodwill for the organization.
• 1.       Ethical CSR

  ·         Represents the purest or most legitimate type of CSR in which organizations pursue a clearly defined sense of social conscience in managing their financial responsibilities to shareholder, their local community and society as a whole, and their ethical responsibilities to “ do the right thing” for all their stakeholders
• 1.       Corporate Conscience

  ·         An alternative term for corporate social responsibility, implying that the organization is run with an awareness of its obligations to society.
• 1.       Corporate Citizenship

  ·         An alternative term for corporate social responsibility, implying that the organization is a responsible citizen in meeting all its obligations.