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What is CSR?
In a Developed Country, CSR includes: Governance, Business ethics, Human Rights, and Environment In a Developing Country, CSR includes: Nation Building, Socio-economic development, Employment, Education, Health Care, and Community Support.
CSR Definition
Prince of Wales International Business Leaders Forum define CSR on basis of four issues:
Corporate governance to include reputation, transparency, accountability and anti-corruption, Safety and Environment which comprises product/service safety, worker health and safety local environment quality, Access/development that includes initiatives in education, health-HIV/AIDS, digital divide, enterprise development, and; Human Rights that include labour standards, security and indigenous people.
Economic
Required
LIBERAL
Milton Friedman
STAKEHOLDER
R Edward Freeman
COMMUNITY AFFAIRS
PHILANTHROPY
POFIT FOCUS
CSR-Understanding
CSR-Understanding
Clause 135 (CSR clause) of the Company Bill requires qualifying corporations to spend on CSR at least 2 per cent of its average net profit made in the preceding 3 financial years.
Net Worth = Rs.500 Crore
ELIGIBLE COMPANIES
It is too expensive
Myths
It is a market gimmick
Eradicating Hunger, Promotion of Education, Gender Equality & Empowering Women, Reducing child mortality & improving maternal health, Combating HIV virus, other diseases, Ensuring Environmental Sustainability, Employment Enhancing Vocational Skills, Contribution to the Prime Ministers National Relief Fund, and Other such matters.
PROCEDURE TO COMPANY
Create CSR Committee Develop Corporate Social Responsibility Policy
Examples
HULS Lifebuoy SWASTHYA CHETNA-a health & hygiene education program, educates people about health related precautions to 200 people million in rural and urban areas.
Tata Teas communication and is positioning itself as a catalyst for social awakening through JAAGO RE campaign.
Colgate Palmolive- SPREADING SMILES AT PRATHAM (NGO), in association with IDA organizes free dental checkups camps, supports free surgery of children and young adults suffering from cleft lips.
Examples
Marico Industrys brand Saffola organises FREE HEART CARE CAMPS on World Heart Day every year. ITC- every 4 notebook that is bought re. 1 goes for EDUCATION OF UNDER PRIVILEGED CHILDREN, & e-Choupal.
Examples
Examples
Revenue
442,459
Avg PAT
7,783
2% of PAT
156
RIL
Tata Steel
368,571
135,978
21,138
3,895
288
146
423
278
TCS
Cairn India
48,894
11,861
8,935
5,108
51
NA
179
102
HDFC
Infosys
27,606
33,734
4,108
7,128
NA
26
82
143
Challenges
Conclusion
Increasing social issues impacts the entire society in general & business in particular because to a large extent business is dependent on the society for its growth & prosperity. Both public & Private efforts must be extended to solve the social problems identified. CSR can thus be expressed in terms of three principles: legitimacy, public responsibility & managerial discretion. Need of the hour is to create innovative strategies & methodologies which creates win-win situation for all & communicate to others how consultative & collaborative model of change is profitable for all concerned.