Concept and meaning of CSR

Presented By:

K.Deepickha VM (Vilasini Mandap) :P

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CSR is about how companies manage the business processes to produce an overall positive impact on society.

"The future belongs to those who understand that doing more with less is compassionate, prosperous, and enduring, and thus more intelligent, even competitive." Paul Hawken
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Corporate (CSR)

Social

Responsibilities

An obligation, beyond that required by the law and economics, for a firm to pursueedit Master subtitle style are good for long term goals that Click to society . The continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as that of the local community and 33 society at large.

Meaning of CSR
Conducting business in an ethical way and

in the interests of the wider community Responding positively to emerging societal priorities and expectations A willingness to act ahead of regulatory confrontation Balancing shareholder interests against the interests 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: A way 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 development while improving the quality of life of the workforce and their families as well as of the local66 community and society at large.

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 local community and society.
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CSR in India

In India, CSR has evolved to style Click to edit Master subtitleencompass employees, customers, stakeholders and sustainable development or

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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 to product 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 sanitation 99

CSR: In 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 activity and 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 recycling 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 1313

Is CSR the same as business ethics?

There is clearly an overlap between CSR and

business ethics Both concepts concern values, objectives and decision based on something than the pursuit of profits And socially responsible firms must act ethically The difference is that ethics concern individual actions which can be assessed as right or wrong by reference to moral 1414 principles.

Thank you

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