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Corporate Social Responsibility CSR

Corporate social responsibility

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15 views21 pages

Corporate Social Responsibility CSR

Corporate social responsibility

Uploaded by

lslamic Studio
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Corporate Social Responsibility (CSR)

Course: Environmental Management Systems

Dr. Shakeel Ahmad


Assistant Professor
Department of Soil and Environmental Sciences
Outline

 Corporate social responsibility (CSR)

 Triple bottom line concept

 Needs and objectives of CSR

 Benefits and disadvantages of CSR

 Types/components of CSR

 CSR principles and strategies

 Levels/strategies in the adoption of CSR

 Challenges in the implementation of CSR

 Strategies to enhance implementation of CSR


Corporate social responsibility (CSR)

 CSR is defined in different ways.


 The CSR according to World Business Council for
Sustainable Development (WBCSD) is “the continuing
commitment by business to behave ethically and
contribute to sustainable economic development while
improving the quality of life of the workforce and their
families as well as of the local community and society”.
Cont…

 “A responsibility among firms to pursue goals in addition to


profit maximization and a responsibility among a firm’s
stakeholders to hold the firm accountable for its actions.”
 CSR motivates organization thinks about and evolves its
relationships with stakeholders for the common good and
demonstrates its commitment in this regard by adoption of
appropriate business processes and strategies.
 Thus, CSR is no charity or mere donation.
Cont…

 CSR is a way of conducting business, by which


corporate entities visibly contribute to the social good.
 Socially responsible companies use CSR to integrate
economic, environmental and social objectives with
the company’s operations and growth.
Cont…

 CSR is both critical and controversial.


 It is critical because the for-profit sector is the largest
and most innovative part of any free society’s economy.
 Corporate should have some moral & social obligations
to undertake for the welfare of the society.
 Corporate should return a part of wealth they have
made using common natural resources.
Cont…
 It is controversial because some see CSR as a
distraction from the economic purpose of a business.
 According to Milton Friedman “the only social
responsibility of business is to increase its profits”
 “Profit, as a result of the actions of the firm, is an end
in itself.”
 “A firm does not need to have any additional
justification for existing.”
 “Social value is maximized when a firm focuses on
pursuing its self-interest in attempting to maximize
profits.”
Cont…

Friedman argues that:


 CSR is against capitalism: a “fundamentally subversive
doctrine in a free society”
 CSR is a waste of the firm’s resources, which legally belong
to the firm’s owners, its shareholders, and the executives.
 Social matters are not the concerns of business people and
that problems should be resolved by the other social
actors.
Triple bottom line concept
Triple bottom line concept
Need and objectives of CSR

CSR is important and even expected by the public


 To avoid legal complications.

 To win green funding/prizes.

 To get tax rebates.

 To reduce the social cost.

 To provide moral justification.

 To satisfy the stakeholders.

 To enhance the performance of employees.


Benefits and disadvantages of CSR
Benefits
 It is a type of investment.
 It improves the public image.
 It can avoid many legal complications.
 It can minimize the negative impacts of business on
environment.
 It helps organizations hire and retain the people they
want
Disadvantages
 It can increase cost
 It can divert the attention
Types or components of CSR
CSR Principles & Strategies
 Respect for human rights.
 Respect for the differences of views.
 Diversity & non-discrimination should be the guiding
principle.
 Make some social contribution.
 Enter into e dialogue
 Self-realization & creativity.
 Fair dealings & collaboration.
 Feedback from the community.
 Positive value- added
 Long term economic & social development.
Levels in the adoption of CSR
 Rejection strategy
 Adversary strategy
 Resistance strategy
 Compliance strategy
 Accommodation strategy
 Proactive strategy
Challenges in the implementation of CSR
Strategies to enhance implementation of CSR

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