Corporate Social Responsibility Module 1

corporate social responsibility

1. CORPORATE SOCIAL RESPONSIBILITY SUCHETA PANDA AMITY UNIVERSITY RAIPUR, CHHATTISGARH

2. CORPORATE SOCIAL RESPONSIBILITY Corporate social responsibility is all about companies playing their responsible part in society and giving back to society, and a big part of that is fundraising for worthy causes. Companies, customers and communities can and should thrive together.

3. CSR AS - A self-regulating business model that helps a company be socially accountable to itself, stakeholders, and the public in general. CSR become a buzzword in 1990 but it exist since 1970

4. DEFINITION OF CSR CSR is a business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders.

5. FUNDAMENTAL CONCEPTS OF CSR

6. WAYS TO EMBRACE ENVIRONMENTAL RESPONSIBILITY Reduce Harmfully Practices: Reduce pollution, greenhouse emission, single-use plastic water consumption, and general waste. Regulate Energy Consumption: Increase reliance on renewable sustainable resources and cycled materials. Negative environmental impact : Plant trees, fund research, and donate to environmental causes.

7. NATURE AND SIGNIFICANCE OF CSR Environment: Pollution, repair, and damage of the environment. Energy: Conservation of energy in the conduct of the business operation and increasing the energy efficiency of the company’s product. Fair Business Practices: employment of minorities, women, and vulnerable groups of society. Human Resources: Recruitment, training, job rotation, wage and salary, fringe benefits, job security, transfer, promotion. Community Development: Health, education, art, culture. Products: Utility, service, durability, customer satisfaction.

8. PRINCIPLES OF CSR Accountability Transparency Ethical behavior Respect for stakeholder interests Respect for the rule of law Respect for the international norms of behavior Respect for human rights Business Conduct Anti-corruption Human Rights

9. CORPORATE PHILANTHROPY Corporate philanthropy  involves a corporation or organization supporting the wellbeing of others, typically through charitable contributions or donations. It involves investments and actions which a company voluntarily undertakes. These actions are to manage and account for their effect on society appropriately

10. BENEFITS OF CORPORATE PHILANTHROPY It's a fantastic idea to give back to your community. It improves a company's brand value and reputation, boosts employee engagement, and promotes a healthy work environment. Philanthropic activities can boost a company's sales. Customers may develop a stronger attachment to the company's products. Company culture can be improved by connecting with communities. Philanthropic companies can bring in and retain the best talents easily.

11. Types of corporate philanthropy

12. Peripheral Philanthropy: charitable initiatives that are mainly driven by external demands and stakeholder expectations. Most such companies see corporate philanthropy as a means to better position themselves within their competitive environment. Strategic Philanthropy: donors try to figure out solutions themselves and then impose them on nonprofit organizations, on communities, or on others who are working on change on the ground. Dispersed Philanthropy: Dispersed philanthropy most often occurs in the realm of corporate donations. Constricted Philanthropy: Adopting an approach that we call constricted philanthropy, executives at these companies hope to use a combined effect between their main activities and their charitable activities.

13. DIFFERENCE BETWEEN CHARITY & PHILANTHROPY It is selfless service, generosity, and love. Charity addresses the symptoms. Charity tends to be short-term. Charity is an emotional, immediate response. Charity is focused on rescue and relief. Charity is good. Humanness, nurturing, human values. Philanthropy addresses the cause of the social problem. Philanthropy is much more long-term. Philanthropy is strategic. Philanthropy is focused on rebuking. Problem-solving philanthropy is good.

14. CSR: A KEY TO BUSINESS SUCCESS Attract the right talents. Attract investors. Attract customers.