Corporate Social Responsibility (CSR).pptx

Corporate Social Responsibility refers to the commitment of a business to contribute to sustainable economic development while improving the quality of life of employees, their families, the local community, and society at large.

1. Corporate Social Responsibility (CSR) DR Jenifer Thangam J Assistant Professor

2. Corporate Social Responsibility (CSR) Meaning: Corporate Social Responsibility refers to the commitment of a business to contribute to sustainable economic development while improving the quality of life of employees, their families, the local community, and society at large. Definition: ISO 26000 Definition: CSR is the responsibility of an organization for the impacts of its decisions and activities on society and the environment, through transparent and ethical behavior . Business Perspective: CSR is a way for companies to integrate social, environmental, and ethical concerns into their business operations.

3. Why Business Should Be Socially Responsible Enhances Reputation Builds goodwill among customers, investors, and the public. Ensures Sustainable Development Helps in balancing business growth with environmental and social concerns. Attracts and Retains Talent Employees prefer working for socially responsible companies. Compliance with Legal and Ethical Standards Reduces the risk of legal penalties and aligns with regulations. Increases Customer Loyalty Consumers prefer brands that care about social and environmental issues. Long-Term Profitability Ethical and responsible practices can improve efficiency and reduce risks, contributing to long-term profits.

4. Role of CSR in Business Environmental Protection Reducing pollution, conserving resources, and promoting sustainable practices. Community Development Supporting education, healthcare, infrastructure, and welfare programs. Employee Welfare Ensuring fair wages, safe working conditions, and skill development. Ethical Business Practices Encouraging transparency, honesty, and fairness in operations. Stakeholder Engagement Building strong relationships with customers, suppliers, communities, and investors. Corporate Image and Brand Building Enhancing the company’s public image and strengthening its brand.