2. 2 codelaxy
RESEARCH-1
DEFINITION OF CSR:-
Corporate Social Responsibility (CSR) is defined as the voluntary
activities undertaken by a company to operate in an economic, social
and environmentally sustainable manner.
OBJECTIVE OF CSR:-
The objectives of CSR implementations are to adhere to the Ministry
of Corporate Affairs CSR Bill to meet objectives of businesses to
achieve business and strategic objectives through CSR
implementations in the areas:
Corporate Social Responsibility implementation across India
as implementation NGO.
Scope, approach, planning and project management for
Corporate Social Responsibility (CSR) Programs
Corporate Social Responsibility (CSR) Frameworks for
business in India including Results and Tracking Frameworks
Risk Mitigation for Corporate Social Responsibility (CSR)
Baseline and Identification of Geographic areas for Corporate
Social Responsibility (CSR)
Needs-based activities and implementation of Corporate
Social Responsibility (CSR)
Monitoring & Evaluation including reporting based on CSR Bill
of MCA India
3. 3 codelaxy
Focussed research for identification of short term and long
term objectives of CSR
Advocacy and Communications for CSR
HR and Personnel Training for CSR implementations
Support for Government integration and scaling of CSR
Programs
Implementation Partners for CSR Activities due diligence and
process support
Third Party Audit for CSR implementation outputs and
outcomes
CSR Reporting as per Companies Act 2013 guidelines
Sustainability Reporting as per GRI guidelines
4. 4 codelaxy
RESEARCH-2
WHY ANY COMPANY NEED CSR:-
CSR is a way for companies to benefit themselves while also
benefiting society.
CSR is a way to push the following business processes into the
organization:
1. Innovation -In the context of CSR, innovation is a huge benefit to
a company and society. For example, I recently watched a video
of a brief talk by Geoff McDonald who is the Unilever Global VP
for HR, Marketing, Communications and Sustainability. Using the
“lens of sustainability” as McDonald described it, Unilever was
able to innovate new products such as a hair conditioner that
uses less water. Without sustainability, the company’s research
and development efforts possibly wouldn’t have led to such a
product.
2. Cost savings – One of the easiest places for a company to start
engaging in sustainability is to use it as a way to cut costs.
Whether it’s using less packaging or less energy, these savings
add up quickly. According to its 2011 CSR report, after installing
5. 5 codelaxy
energy monitoring meters on several pieces of equipment at its
Covington, Ga. plant, the company saved $600,000.
3. Brand differentiation – In the past, brand differentiation was
one of the primary reasons companies embraced CSR.
However, as CSR has become more commonplace, using it to
differentiate your brand is getting harder to do. For example,
the “Cola Wars” is one of the longest running rivalries in
business. Coke and Pepsi are constantly looking to grab as
much market share as they can from each other. Yet they are
both adopting similar, although slightly different, approaches to
CSR. Both Pepsi and Coke are pursuing strategies of zero net
water usage. Both companies offer water bottles made from
sustainable packaging as well. In the end, although neither
company is necessarily going to see strong differentiation
benefits, I see the diminishing returns on brand differentiation
as a sign that CSR is taking hold and is not just a fad.
4. Long-term thinking –It is a shift from worrying about the next
fiscal quarter’s financial results to the impact business decisions
today have on financial (and social) results ten years from now.
5. Customer engagement –Using CSR can help you engage with
your customers in new ways. Since the message is about
something “good,” it can often be an easier way to talk to your
customers. This is an underused tool for business-to-business
company communication
.
6. Employee engagement – Along similar lines, if your own
employees don’t know what’s going on within your
6. 6 codelaxy
organization, you’re missing an opportunity. Companies
like Sara Leecreated a cross-functional, global Sustainability
Working Team to help create a strategy for sustainability. At a
more grass roots level, the Solo Cup Company created the
Sustainability Action Network to activate employees in
community service focused on the company’s CSR priorities.
To be clear, these are the reasons why most companies should enact
CSR.
This isn’t to say that CSR is the panacea to the world’s problems. But
it certainly does start to move the needle toward an economy that is
much closer to one where I would like to conduct business.
RESEARCH-3
CSR IN INDIA:-
India has a long rich history of close business involvement in social
causes for national development. In India, CSR is known from ancient
time as social duty or charity, which through different ages is
changing its nature in broader aspect, now generally known as CSR.
From the origin of business, which leads towards excess wealth,
social and environmental issues have deep roots in the history of
business.
7. 7 codelaxy
Since then there is a growing realization towards contribution to
social activities globally with a desire to improve the immediate
environment. It has also been found that to a growing degree
companies that pay genuine attention to the principles of socially
responsible behaviour are also favored by the public and preferred
for their goods and services. This has given rise to the concept tof
CSR.
After Independence, JRD Tata who always laid a great deal of
emphasis to go beyond conducting themselves as honest citizens
pointed out that there were many ways in Proceedings of 21st
International Business Research Conference 10 - 11 June, 2013,
Ryerson University, Toronto, Canada, ISBN: 978-1-922069-25-2 which
industrial and business enterprises can contribute to public welfare
beyond the scope of their normal activities.
Traditionally, it had discharged its responsibility to society through
benefactions for education, medical facilities, and scientific research
among other objects. The important change at that time was that
industry accepted social responsibility as part of the management of
the enterprise itself. The community development and social welfare
program of the premier Tata Company, Tata Iron and Steel Company
was started the concepts of "Social Responsibility."
RESEARCH-4
Regulatory Approaches to CSR The regulatory approaches entail the
extent to which the government influences CSR behavior of firms in
two respects, first with respect to reporting of CSR activity, and
second with respect to the amount of spending for CSR activity.
Based on this, one gets three types of regulatory regimes, namely (i)
8. 8 codelaxy
voluntary reporting and voluntary spending (ii) mandatory reporting
but voluntary spending, and (iii) mandatory reporting and mandatory
spending. Much of the policy debates around the world is with
respect to whether CSR reporting should be voluntary or mandatory
i.e., whether firms should be required by laws and regulations to
report their CSR activities. In comparison, the debate on voluntary
versus mandatory spending is moot in most countries given that CSR
activities, howsoever defined, is voluntary in nature
RESEARCH-5
9. 9 codelaxy
Challenges of CSR:
It is important for CSR strategies to become central to business
strategy and part of the long-term planning process. Stakeholders
are questioning more on CSR initiatives of the companies today. They
are challenging the companies‟ decisions-making in this direction. It
has become imperative to incorporate stakeholders‟ views.
In India the CSR managers face number of challenges in managing
CSR activities. The biggest problem is of lack of budget allocations
followed by lack of support from employees and lack of knowledge
as well. Lack of professionalism is another problem faced by this
sector. Small companies do not take adequate interest in CSR
activities and those which undertake them fail to disclose it to the
society. In the process they loose out on people and their trust in
them.
1.Issues & Challenges Many companies think that corporate social
responsibility is a peripheral issue for their business and customer
satisfaction more important for them.
2.The Shrinking Role of Government In the past, governments have
relied on legislation and regulation to deliver social and
environmental objectives in the business sector.
3.Demands for Greater Disclosure There is a growing demand for
corporate disclosure from stakeholders, including customers,
suppliers, employees, communities, investors, and activist
organizations.
4.Increased Customer Interest There is evidence that the ethical
conduct of companies exerts a growing influence on the purchasing
decisions of customers.
10. 10 codelaxy
5. Growing Investor Pressure Investors are changing the way they
assess companies' performance, and are making decisions based on
criteria that include ethical concerns.
6. Competitive Labour Markets Employees are increasingly looking
beyond paychecks and benefits, and seeking out employers whose
philosophies and operating practices match their own principles.
7. Supplier Relations As stakeholders are becoming increasingly
interested in business affairs, many companies are taking steps to
ensure that their partners conduct themselves in a socially
responsible manner.
11. 11 codelaxy
RESEARCH-6
India's Best 10 Companies For CSR in 2014
. 1. Tata Steel: The company uses Human Development Index to keep
track of CSR in villages.
.2. Tata Chemicals: The company spends Rs 12 cr on CSR every year &
wildlife conservation tops priority.
3. Mahindra Group: CSR is a mix of strategic philanthropy, shared
values & sustainability.
4. Maruti Suzuki: Community development and road safety propel
Maruti's CSR in the fast lane.
5. Tata Motors: The company drives CSR through healthcare and
education.
6. Siemens
7. Larsen & Toubro
8. Coca-Cola India
9. Steel Authority of India
10. Infosys
12. 12 codelaxy
World's Best 10 Companies For CSR
1.Microsoft
2.Google
3.The Walt Disney Company
4.BMW
5.Apple
6.Daimler(Mercedes-Benz)
7.Volkswagen
9.Sony
9.colgate
10.Lego group
Conclusions:
Corporate sustainability is an evolving process and not an end. The
Companies bill is a good initiative on the part of the government
however what would be included in „spending‟ on CSR is unclear and
is left for the companies to decide. Across the globe, the concept of
CSR has been accepted as an element for success and survival of
business along with fulfilling social objectives. However, the
challenge for the companies is to determine a strong and innovative
CSR strategy which should deliver high performance in ethical,
13. 13 codelaxy
environmental and social areas and meet all the stakeholders‟
objectives.
REFERENCES:-
csr@responsenet.org
Indian Brand Equity Foundation, www.ibef.org
www.global huntfoundation.org
THANKYOU
