Corporate Social Responsibility

CSR is the continuing commitment by businesses to behave ethically and contribute to economic
development, while improving the quality of life of the workforce and their families as well as of
the local community and society at large.
Corporate social responsibility (CSR) refers to companies taking responsibility for their impact
on society. As evidence suggests, CSR is increasingly important to the competitiveness of
enterprises. It can bring benefits in terms of risk management, cost savings, access to capital,
customer relationships, human resource management, and innovation capacity.
Over the last years an increasing number of companies worldwide started promoting their
business through Corporate Social Responsibility strategies because the customers, the public
and the investors expect them to act sustainable as well as responsible.
In some cases, CSR is a result of a variety of social, environmental and economic pressures
while some other cases many large corporations, it is primarily a strategy to divert attention away
from the negative social and environmental impacts of their lives. It enables the company to
leverage its products, employee strength, networks and profits and up to some extent to create a
sustainable change for marginalized communities. Despite certain criticisms on the CSR
activities, more and more companies in the world are inclined towards corporate social
responsibility.
The CSR Executives have the task of reconciling the various programs, quantifying their
benefits, or at least sketching a logical connection to the business, and securing the support of
business line counterparts. CSR can not only refer to the compliance of human right standards,
labor and social security arrangements, but also to the fight against climate change, sustainable
management of natural resources and consumer protection.
The various practices followed by the corporate in different parts of the world differ
significantly. In the Developed nations, the basic needs of the population do not need so much
support as in the under-developed nations. The demographies, literacy rate, poverty ratio and
GDP of the country have significant role in determining the directions of CSR initiatives of an
organization. In the Asian context, CSR mostly involves activities like adopting villages for
holistic development, in which they provide medical and sanitation facilities, build school and
houses, and helping villages become self-reliant by teaching them vocational and business skills.
This Conference is designed to understand and deal with the unprecedented impacts of CSR on
the working population, society and environment and therefore to elaborate the various
frameworks for it with a view towards developing its practice in an evolutionary way.
Now a days Enterprises are encouraged that they "should have a place in process to integrate
social, environmental, ethical human rights and consumer concerns into their business operations
and core strategy in close collaboration with their stakeholders".

The Enterprise CSR agenda for action should be :

1. To enhance the visibility of CSR and disseminating good practices.
2. To improve and tracking levels of trust in business.
3. To improve self- and co-regulation processes.
4. To enhance market reward for CSR.
5. To improve company disclosure of social and environmental information.
6. To further integrate CSR into education, training and research.
7. To emphasize the importance of national and sub-national CSR policies.
8. To align global approaches to CSR.
Corporate Social Responsibility (CSR) is committed to Sustainable Development (SD) through
a balanced approach which helps in economic development, social progress and responsible
environmental management.
CSRs commitment to SD is reaffirmed through organizations Vision and Values, Mission,
Code of Ethics, and also its policies and practices related to occupational health and wellness,
safety, security, protection of the environment, fair business practices, and its Code of Business
Conduct.
Social Development through:
1. Encouraging freedom of association and collective bargaining by employees
2. Eliminating discrimination with respect to employment and occupation
3. Not supporting or condoning forced or child labor
4. Undertaking employment, skills transfer and training of local workforce
5. Establishing and maintaining partnerships with local organizations and global institutions
acting in the social area (housing, health, diseases, hunger etc.)
6. Investing or taking part in projects with social goals benefiting to local communities
7. Maintaining fair operating practices
8. Establishing clear and transparent organizational governance

9. Actively working against corruption whenever it may be observed.

10. Encouraging development, diffusion and use of environmentally friendly technology
11. Developing and maintaining open and constructive relationship with environmental
groups, institutions, agencies, customers, communities and employees in the countries of
its activities.
These days Companies expect that the involvement and commitment of all staf
and management to support and promote Sustainable Development and
Corporate Social Responsibility is required and everyone in the organization
should work actively.