CORPORATE SOCIAL RESPONSIBILITY(CSR) & SOCIETY

PRESENTED TO: PROF.RAJASHRI SONAVANE

ROAD MAP:

Role & responsibility of local community in business Why should business be socially responsible?? Responsibility towards different interest groups Role of NGOs and international agencies in integrating CSR CSR measures and indicators: measuring csr to improve shareholders value and social value CSR and shareholders value CSR and Sustainable development Triple bottom line Criticism for TBL

ROLE & RESPONSIBILITY OF LOCAL COMMUNITY IN BUSINESS:A communitys primary interests are issues related to the management of local health, safety and security risks and information on community complaints about corporate activities and how these are dealt with. In some contexts, the local community may also have concerns about the impact of an enterprises operations on local culture. Such impacts can result from the introduction of new products or services, or from the generation of internal migration. Corporate social responsibility promotes a vision of business accountability to a wide range of stakeholders, besides shareholders and investors.

WHY SHOULD BUSINESS BE SOCIALLY RESPONSIBLE??

1.

2.
3. 4.

5.

Public image Government regulation Survival and growth Employee satisfaction Consumer awareness

RESPONSIBILITY TOWARDS DIFFERENT INTEREST GROUPS: Responsibility Responsibility Responsibility Responsibility

towards owners towards investors towards employees

towards suppliers

CONTINUED: Responsibility Responsibility Responsibility Responsibility

towards customers towards competitors towards government

towards society

ROLE OF NGOS AND INTERNATIONAL AGENCIES IN INTEGRATING CSR: NGOs

have played a major role in pushing for social and environmental causes. act as moderator and facilitator.

NGOs

NGOs

have begun to fix their sights on powerful corporations- many of which can rival entire nations in terms of their resources and influence.
is often assumed that NGOs are charities or enjoy non-profit status.

It

 Multinational

brands have been acutely susceptible to pressure from activists and from NGOs eager to challenge a companys labour, environmental or human rights. Companies are taking responsibility for their externalities and reporting on the impact for their activities on a range of stakeholders.

CSR MEASURES AND INDICATORS:MEASURING CSR TO IMPROVE SHAREHOLDERS VALUE AND SOCIAL VALUE: Corporate

Social Responsibility is not the same as ethical behavior but it is an important component of such action. There is no systematic measurement of what companies are doing. Some countries have issued guidelines on reporting of CSR initiatives.

Reporting on environmental performance will benefit a company in two ways. Management information Company believe

CSR IS MEASURED BY:

Trade, investment and linkages.

Employment creation
Development of technology Health and safety concern Payment to the government in the form of tax

CSR AND SHAREHOLDERS VALUE:

Consumers have become more and more of the CSR. CSR companies create a good image and improved perception. CSR is long-term investment.

CSR AND SUSTAINABLE DEVELOPMENT:

CSR is the most popular manifestation of sustainability: A subset of sustainability. Sustainable development is a broad concept that balances the need for economic growth with environmental protection and social equity. Sustainable development is development that meets the needs of the present without comprising the ability of future generations to meet their own need.

Sustainability can be regarded as comprising three componentsi) environmental ii) economic iii) social Standards of sustainability: GRI, Sustainability exporting guidelines, ISO 14000 Standard. Tata chemical& Steel Authority was awarded the FICCI Award on 7th May 2009.

CONTINUED.

Contributing to sustainable development. Concept of Corporate sustainability.

Concept of Sustainability reporting.

Benefits of Sustainability Reporting.

TRIPLE BOTTOM LINE:

The triple bottom line is abbreviated as TBL OR 3BL. Concept of TBL demands that a companys responsibilities is to be stakeholders rather than shareholders.

THE BOTTOM LINES1. People 2. Planet 3. Profit

The triple bottom line is a way of accounting for the net value added in each of the three areas, financial, social and ecological.

ARGUMENTS
1.
2.

FOR

TBL

Reaching untapped market potential. Adapting to new business sectors.

CRITICISM FOR TBL

1. 2. 3. 4. 5. 6.

Division of labour Effectiveness Nationalism Inertia Application Criticism from the left

CONCLUSION