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Corporate Social Responsibility

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

Corporate Social Responsibility


Corporate Social Responsibility: Corporate Social Responsibilities (CSR) Corporate social responsibility (CSR): An obligation, beyond that required by the law and economics, for a firm to pursue long term goals that are good for 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 society at large. About how a company manages its business process to produce an overall positive impact on society.

Corporate Social Responsibility


Corporate Social Responsibility: Meaning of CSR : 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.

Corporate Social Responsibility


Definitions: : 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

Corporate Social Responsibility


Definitions: : 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 local community and society at large.

Corporate Social Responsibility


CSR in India : CSR in India In India, CSR has evolved to encompass employees, customers, stakeholders and sustainable development or corporate citizenship. The spectrum of CSR includes a number of areas as human rights, safety at work, consumer protection, climate protection and caring for the environment, and sustainable management of natural resources. From the perspective of employees, CSR activities include providing health and safety measures, preserving employee rights and discouraging discrimination at workplace. This helps in fostering a healthy environment within the company.

Corporate Social Responsibility


Benefits CSR: behavior 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 re-cycling. 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