CSR in Global Context

Corporate Social Responsibility(CSR)

▪ CSR is the commitment of business to contribute to

sustainable economic development, working with
employees, their families, the local community and
society at large to improve their quality of life.

Example: CSR is where business look at how they can

better serve society as a whole, improving its image and
relations.
 Meaning and Definition of CSR

▪ Meaning:- Corporate Social Responsibility is a management

concept whereb y comp anies integ rate social and env ironmental
concerns in their b usiness op erations and interactions with
their stakehold ers.

▪ Definitio n:- The most earliest and p rominent d efinitions

ascrib ed to CSR is the one g iv en b y Howard Bowen who
( Carrol, 1990) refer to as the father of C SR "The ob lig ations of
b usinessmen to p ursue those p olicies, to make those
d ecisions".
 Benefits of CSR

1. C o mmunities pro vide the license to o perate :-

Corporate is not just driven by their values but are also
influenced by the stakeholders like government, investors,
customers and community. CSR program p rov id es the comp anies
with license to operate and to maintain the trust of the local
community.
2. Attracting and retaining emplo yees :-
Good CSR initiatives can attract employees to the company and
given them the incentive to remain motivated and committed to
the company.
3. C ommunities as suppliers : -

There are instances wherein as a part of CSR

activities, communities have been incorporated into
the supply chain to enhance their livelihood.

4. Enhancing corporate reputation : -

When the companies position themselves as

responsible corporate citizens, it creates good will
and a positive image, thereby helping them to
enhance their brand image in the market.
 CSR in Developing Countries

1. Cultural Traditions :-
CSR in developing countries draws its roots from the traditions
of business ethics and community push. CSR in Nigeria is based
on the religious beliefs, charitable traditions, and communalism.
2. Political Reform :-
The socio-political reform process also had a great bearing on
CSR activities in the developing countries.
3. Governance Gaps :-
Good governance requires a government to provide for the basic
needs of the citizens like housing, education, health care, roads,
electricity etc.
4. Crisis Response :- Crisis could be natural,
industrial, environmental, social, health related or
economic.

5. Investment Incentives :- Socially Responsible

Investment (SRI) which involves investing in
companies.

6. Supple Chain :- The ethical requirement imposed

by multinational their supple chains.

7. International Standarization :- Global reporting

initiative's sustainability reporting guidelines shows to
CSR codes.
 CSR in Europe

▪ CSR Europe is the leading European business network for

Corporate sustainability and responsibility. With our corporate
members, National Partner Organization (NPOs).

▪ The Europe has been aware of the importance of CSR as part

of its Sustainable development strategy (SDS). Europe
identifies CSR as a voluntary action rather than a compulsory
framework.
1. Enhancing the visibility of CSR

2. Improving and tracking levels of trust in business

3. Improving self and co -regulations processes

4. Enhancing market rewards for CSR

5. Further integrating CSR into education, training, and

research.
6. Better aligning European and global approaches to
CSR.
7. Improving company disclosure of social and
environmental information.
 CSR in USA

▪ Corporate Social Responsibility (CSR) activities in America

(USA) cover a wide range of initiatives undertaken by
companies to contribute positively to society and the
environment.
▪ Many companies in America prioritize CSR to demonstrate
their commitment to social and environmental issues while
also building a positive brand image.
▪ Activities can include philanthropy, environmental
sustainability efforts, employee volunteer programs, and
ethical business practices.
1. Goggle :- It has invested in renewable projects like
wind and solar farms to power its data centers.
Company also supports education initiatives in
technology and computer science.

2. Walmart:- The company has committed to sourcing

100% of its energy from renewable sources and aims to
eliminate waste from its operations.

3. Tesla:- Tesla's primary CSR focus lies in its mission to

accelerate the transition to sustainable energy. Company
produce electric vehicles and renewable energy solutions
to reduce the reliance on fossil fuels.

4. IBM:- IBM's CSR efforts include projects in education,

health. The company is known for its "Call for Code"
initiative, which encourages developers to create
solutions for global problems like disaster.
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