1.

Corporate social responsibility called as corporate sustainability or socially responsible

corporate business.
2. Definitions
Choose your own best definition by googling and the definitions of each persons shall have to
be different.
3. Back ground
a. The idea came up in 1920s
b. The ww ii decreased its importance because of its adverse effects.
c. 1953 onwards gained its importance.
d. Development of theoretical frames works and philosophy.
e. 1979 corporate social model by Carroll.
f. There is no clear definition for CSR as universally accepted.
g. Emergence of International standards organization paved much better way for the wide
acceptance of CSR by the ISO 26000.
h. As per the definition of ISO the CSR have got seven important parts.
1. Organizational governance
2. · Community involvement and development
3. · Human rights
4. · Labor practices
5. · The environment
6. · Fair operating practices
7. · Consumer issues

The flows that influence behaviors between the parts and impact the overall structure of the system.
Understanding the interrelationships and processes of change reinforces the system and keeps the
corporation’s CSR activities in balance. Producing and distributing wealth, stakeholder management,
ethical systems and sustainable management practices managed individually, or excluding one or
more of the components, causes the CSR system to collapse.

Adam Smith (1776) in The Wealth of Nations espoused the importance of wealth creation for
entrepreneurs and corporations. He wrote, “It is not from the benevolence of the butcher, the brewer,
or the baker that we expect our dinner, but from their regard for their own interest.”
UN and corporate social responsibility

1. As per un corporate sustainability guidelines

“Corporate sustainability is imperative for business today – essential to long-term corporate success
and for ensuring that markets deliver value across society. To be sustainable, companies must do ve
things: Foremost, they must operate responsibly in alignment with universal principles and take
actions that support the society around them. Then, to push sustainability deep into the corporate
DNA, companies must commit at the highest level, report annually on their efforts, and engage locally
where they have a presence.”

2. Corporate sustainability is a company’s delivery of long-term value in financial, environmental,

social and ethical terms.
3. THE TEN PRINCIPLES OF THE UNITED NATIONS GLOBAL COMPACT.
a. Human Rights
1. Businesses should support and respect the protection of internationally proclaimed
human rights; and
2. Make sure that they are not complicit in human rights abuses
b. Labour
1. Businesses should uphold the freedom of association and the effective recognition of
the right to collective bargaining;
2. The elimination of all forms of forced and compulsory labour;
3. The effective abolition of child labour; and
4. The elimination of discrimination in respect of employment and occupation.
c. Environment
1. Businesses should support a precautionary approach to environmental challenges;
2. Undertake initiatives to promote greater environmental responsibility; and
3. Encourage the development and diffusion of environmentally friendly technologies.
d. Anti-Corruption
1. Businesses should work against corruption in all its forms, including extortion and
bribery.

What Business Giants do.

CSR Initiatives of Samsung and Apple.inc