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CORPORATE

SOCIAL
RESPONSIBILITY
By:- Rahul Singhal
Meerut Institute of Technology,
Meerut

Rahul Singhal
 Corporate – means organized business

 Social – meaning every thing dealing with


the people

 Responsibility – means accountability


between the two

Rahul Singhal
Definition
 “Corporate social responsibility is operating a
business in a manner which meets or excels the
ethical, legal, commercial and public expectations
that the society has from the business”

 “the obligation of businessmen to pursue those


policies, to make those decisions, or to follow those
line of action which are desirable in terms of
objectives and values of society”

Rahul Singhal
CSR Encompasses
 Social, economic, ethical and moral responsibility of companies
and managers

 Compliance with legal and voluntary requirement for business


and professional practice

 Challenges posed by needs of the economy and socially


disadvantages group

 Management of corporate responsibility activities

Rahul Singhal
Factors Influencing CSR
 Globalization – coupled with focus on cross – border trade,
multinational enterprises and global supply chains

 Governments and intergovernmental bodies

 Advances in communication technology

 Increasing interest of consumers and investors in supporting


CSR

 Numerous serious and high profile breaches of corporate ethics

Rahul Singhal
 Increasing awareness of the limits of government
legislative and regulatory initiative

 Business recognizing that adopting an effective


approach to CSR can reduce risk of business
disruption

Rahul Singhal
Difference Between Charity and CSR

 CHARITY  CSR

 Means donating money,  It is how company align their


goods, time or effort value to social cause

 For poor and needy cause  It can be people centric or


planet centric
 It is selfless giving toward
any kind of social need  It is not self less act,
company derive long term
benefit from CSR

Rahul Singhal
Triple Bottom Line Approach to CSR
 Coined in 1997 by John Ellington

 It is based on the thought that business entities have more to do


than make profit for the owner of the capital

 People, Planet and Profit is used to describe the triple bottom


line

 Profit is the bottom line shared by all commerce

Rahul Singhal
People Issues
 Health
 Safety
 Diversity
 Ethnicity
 Education and Literacy
 Prevention of Child Labour

Rahul Singhal
Planet Issues
 Climate Change
 Energy
 Water
 Chemicals, toxics and heavy metals
 Air pollution
 Waste Management
 Ozone layer depletion
 Ocean and fisheries

Rahul Singhal
Need to Apply TBL Concept
 Increased consumer sensitivity to corporate social
behavior
 Increased environmental regulation
 Concerns over global warming
 Awareness about and willingness for respecting
human rights
 Media attention to social issues
 Growing corporate participation in social up liftment

Rahul Singhal