Corporate Social Responsibility (CSR) YouTube Lecture Handouts

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  • Adopt a heritage – CSR companies would be given “Monument Mitra” – Vision Building

  • Red Fort – Adopted by Dalmia

  • Adventures Tours Operators Association of India adopted Trail to Gaumukh

  • Also called as corporate citizenship and corporate conscience

  • Involves

    • Ethical

    • Legal

    • Economic

    • Discretionary

  • Carroll 1991 extended CSR from traditional economic and legal responsibility to ethical and philanthropic responsibility in response to the rising concerns on ethical issues in businesses

  • Self-regulating business model that helps a company be socially accountable — to itself, its stakeholders, and the public.

Conscious of the Impact on Environment

  • It is said that for Chinese consumers, a socially responsible company makes safe, high-quality products; for Germans it provides secure employment; in South Africa it makes a positive contribution to social needs such as health care and education

  • CSR is corporate philanthropy includes monetary donations and aid given to nonprofit organizations and communities.

Image of CSR resources

Image of CSR Resources

Image of CSR resources

Image of corporate social responsibility

Image of Corporate Social Responsibility

Image of corporate social responsibility

  • Volunteer efforts by business to benefit society

  • CSR is important for community and company

Starbucks – a Case Study

  • Even before IPO in 1992

  • Starbucks – 99% ethically sourced coffee; creating a global network of farmers; pioneering green building throughout its stores; contributing millions of hours of community service; and creating a groundbreaking college program for its partner/employees.

  • Starbucks’s goals include hiring 10,000 refugees across 75 countries; reducing the environmental impact of its cups; and engaging its employees in environmental leadership.

  • ISO 26000 provides guidance rather than requirements because the nature of CSR is more qualitative than quantitative, and its standards cannot be certified.

  • ISO 26000 clarifies what social responsibility is and helps organizations translate CSR principles into effective actions.

6 Types of Social Initiatives

  • Corporate philanthropy: company donations to charity, including cash, goods, and services, sometimes via a corporate foundation

  • Community volunteering: company-organized volunteer activities, sometimes while an employee receives pay for pro-bono work on behalf of a non-profit organization

  • Socially-responsible business practices: ethically produced products which appeal to a customer segment

  • Cause promotions: company-funded advocacy campaigns

  • Cause-related marketing: donations to charity based on product sales

  • Corporate social marketing: company-funded behavior-change campaigns

Triple Bottom Line

"People, planet and profit", also known as the triple bottom line, form one-way to evaluate CSR.

  • "People" refers to fair labor practices, the community and region where the business operates.

  • "Planet" refers to sustainable environmental practices.

  • Profit is the economic value created by the organization after deducting the cost of all inputs, including the cost of the capital

  • Risk Management

  • Change in Market Economy

  • Social and Economic Criteria

  • Good business for good society

  • Not charity

  • How company earn profits not how they spend it

  • Individual and institutional ethics

  • Politics play an important role

  • New governance mechanism

  • Critical perspective

Advantages

  • It would help to avoid the excessive exploitation of labor, bribery and corruption.

  • Improved image of corporation

  • Increased attraction and retention of employees

  • Attracts more capital inflow

  • Generates cleaners energy

  • Positive publicity

  • Companies would know what is expected of them, thereby promoting a level playing field.

  • Many aspects of CSR behavior are good for business (such as reputation, human resources, branding and making it easier to locate in new communities) and legislation

  • It could help to improve profitability, growth and sustainability.

  • Some areas, such as downsizing, could help to redress the balance between companies and their employees.

  • Rogue companies would find it more difficult to compete through lower standards.

  • Wider community would benefit as companies reach out to the key issue of underdevelopment around the world.

Disadvantages

  • Additional bureaucracy, with rising costs for observance.

  • Costs of operation could rise above those required for continued profitability and sustainability.

  • Critics already argue that the CSR of companies is simply to make a profit, and legislation would increase the vocalization of these concerns.

  • Reporting criteria vary so much by company, sector and country, and they are in constant evolution.

CSR requirement in the 2013 Companies Act.” The act makes it mandatory for corporations in India with revenues of more than 10 billion rupees or net worth of more than 5 billion (approximately $131 million) to give two percent of their profits to charities during the three immediately preceding financial years

Claris Life Sciences Partners

  • Barefoot Academy of Governance

  • Bharti Vidhyotejak Trust

  • Blind Organization of India

  • Riverside Education Foundation

  • Vivekanand Institute of Management

  • Poiesis Achievement Foundation

  • MK Education Society

  • Aadarsh Amdavad

  • India Renal Foundation

Thematic Areas

  • Preventive Healthcare, Water and Sanitation

  • Education, Employability and Livelihoods Enhancement

  • Environmental Sustainability

  • Promoting national and rural sports, Paralympic, Olympic sports

Microsoft India

Implementing Partners

  • Aga Khan Rural Support Programme (India)

  • Oxfam India

  • Quest Alliance

  • Nasscom Foundation

  • CII Foundation

  • Charities Aid Foundation India

Thematic Areas

  • Eradication Hunger, Poverty, Malnutrition

  • Preventive Healthcare, Water and Sanitation

  • Education, Employability and Livelihoods Enhancement

  • Gender, Equality and Women Empowerment, Senior Citizens Care

  • Heritage conservation, Promoting Art, Craft and Culture, Public Libraries

  • Technology incubation (Central Government)