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Corporate Social Responsibility

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Corporate Social Responsibility

From the idea of Corporate Governance and business ethics flows the concept of Social Responsibility.

As a famous saying goes,

“With great power comes great responsibility.”

Social Responsibility

What great people have to say..

“When the wind blows there are those who build walls and there are those who build windmills.”

“Corporate Social Responsibility is operating a business in a manner which meets or exists the ethical, legal, commercial and public expectations that a society has from business.”

US – UK Tradition

What is Corporate Social Responsibility (CSR)?

“Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to the economic development while improving the quality of life of the workforce and their families as well as of the local community and the society at large.”

- The world business council for Sustainable Development in 2004

Global definition of Corporate Social Responsibility (CSR).

To create wealth

To generate employment

To provide environment in which business can sustain and prosper

Role of business is supplementary and complimentary

Why there is need to serve the society or community?

CSR is behavior by businesses over and above legal requirements.

CSR is intrinsically linked to the concept of sustainable development.

CSR is not an optional “add-on” to business core activities but about the way businesses are managed.

Main features of CSR

Are philanthropy, charity and CSR the same?

1. People (Human Capital)

2. Planet (Natural Capital)

3. Profit

Triple bottom line approach of corporate social responsibility

Corporate Social Responsibility in Indian context

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