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Concept and meaning of CSR

Presented By:

Abhijeet kumar

Amber tandon

Amber kumarAnjali singh

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CSR is about how companies manage the

business processes to produce an overallpositive impact on society.

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Corporate Social Responsibilities (CSR)

Corporate social responsibility (CSR):

An obligation, beyond that required by the law andeconomics, for a firm to pursue long term goals that aregood for society .

The continuing commitment by business to behaveethically and contribute to economic development whileimproving the quality of life of the workforce and their

families as well as that of the local community andsociety at large.

About how a company manages its business processto produce an overall positive impact on society.

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Meaning of CSR

Conducting business in an ethical way and in theinterests of the wider community

Responding positively to emerging societalpriorities and expectations

A willingness to act ahead of regulatoryconfrontation

Balancing shareholder interests against theinterests of the wider community

Being a good citizen in the community

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Definitions:

Corporate, Social, and Responsibility.

In broad terms, CSR relates to responsibilities

corporations have towards society within which they are

based and operate, not denying the fact that the purview

of CSR goes much beyond this. CSR is comprehended

differently by different people.

A commitment to improve community well being through

discretionary business practices and contributions of

corporate resource

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Contd

Millen Baker:

Away companies manage the business processes to produce

an overall positive impact on society.

World Business Council for Sustainable Development:

Corporate Social Responsibility is the continuing commitment

by business to behave ethically and contribute to economic

developmentwhile improving the quality of life of the

workforce and their families as well as of the local community

and society at large.

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Concept of CSR

CSR(corporate social responsibility) is a concept in which

organizations consider the interests of society by taking

responsibility for the impact of their activities on

customers, suppliers, employees, shareholders,communities other stakeholders, future generation and

on environment. The organizations voluntarily taking

advance steps to improve the quality of life for

employees and their families as well as for the localcommunity and society.

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CSR in India

In India, CSR has evolved to encompass employees,customers, stakeholders and sustainable development orcorporate citizenship. The spectrum of CSR includes anumber of areas as human rights, safety at work, consumerprotection, climate protection and caring for the environment,and sustainable management of natural resources. From theperspective of employees, CSR activities include providinghealth and safety measures, preserving employee rights and

discouraging discrimination atw

orkplace. This helps infostering a healthy environment within the company.

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For example, after 1945, TATA implemented social

welfare provisions for its employees that have since

become the legislative norm. From the perspectives of

customers, CRS activities may include commitment toproduct quality, fair pricing policies, and so.

TVS Electronics was involved in CSR during the Tsunami

to provide relief measures to the victims. They have also

participated with the government to improve sanitationin a village called Tiruvidenthai. Such initiatives will help

in improving the conditions of rural people.

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CSR:I

n a developed country

governance,

Business ethics,Human rights and

Environment

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CSR in a Developing Country( India):

Focus on nation building

Socio-economic development

Rural development

Employment

Education

Health care

Community support

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The purpose of CSR

The purpose of Corporate Social Responsibility

(CSR) is to make corporate business activityand corporate culture become sustainable in

its three dimensions: economic, social and

environmental.

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Benefits

CSR behaviour can benefit the firm in several

Ways:

It aids the attraction and retention of staff

It attracts green and ethical investment

It attracts ethically conscious customers

It can lead to a reduction in costs through re-cycling

It differentiates the firm from its competitor and can be a

source of competitive advantage

It can lead to increased profitability in the long run

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Reasons for CSR Activities

CSR activities are important to and even

expected by the public

And they are easily monitored worldwide

CSR activities help organizations hire and

retain the people they want

CSR activities contribute to business

performance

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Maximize

firms profits tothe exclusionof all else

Balance profitsand social

objectives

Do what ittakes to

make aprofit; skirtthe law; flybelowsocialradar

Fight socialresponsibilityinitiatives

Comply;do whatislegallyrequired

Integratesocial

objectivesand businessgoals

Lead theindustryand other

businesses with bestpractices

Do more thanrequired; e.g.

engage inphilanthropicgiving

Articulatesocial value

objectives

Corporate Social Responsibility Continuum

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Thank you

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