Corporate Social Responsibility
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This document discusses corporate social responsibility (CSR). It defines CSR as open and transparent business practices that consider employees, communities, and the environment, aiming to deliver sustainable value. The document notes that CSR has become an important marketing strategy and that consumers feel positively about socially responsible companies. It also discusses benefits of CSR like risk management, reputation, and innovation. The document outlines a study that surveyed consumers and employees to assess awareness and perceptions of CSR. It found that while people see CSR as important, consumers have limited knowledge of the concept but want companies to disclose their CSR activities.
Corporate Social Responsibility
- 1. ICSIT 2014 INTERNATIONAL CONFERENCE ON STRATEGY INNOVATION & TECHNOLOGY Gaurav Wadhwa Pulkit Gupta Students BBA(Gen), Ansal University
- 2. Successful people have a social responsibility to make the world a better place and not just take from it. -Carrie Underwood
- 3. CSR is defined by The Prince of Wales International Business Leaders Forum as, ‘‘CSR means open and transparent business practices that are based on ethical values and respect for employees, communities, and the environment. It is designed to deliver sustainable value to society at large, as well as to shareholders’’
- 4. Corporate Social Responsibility (CSR) these days has become one of the most important marketing strategy for the organization these days Consumers also feel acquainted with the product that use the tag of being socially responsible toward Consumers, Government, Environment and Employees. Today it is very important for every business to take care of People Planet & Profits. This will lead to Sustainable Development, after all “What's the use of a fine Business if you haven't got a tolerable planet to put it on?”
- 5. As CSR issues become increasingly integrated into modern business practices, there is a trend towards referring to it as “responsible competitiveness” or “corporate sustainability.”
- 6. Better anticipation and management of an ever-expanding spectrum of risk Improved reputation management Enhanced ability to recruit, develop and retain staff Improved innovation, competitiveness and market positioning Enhanced operational efficiencies and cost savings Improved ability to attract and build effective and efficient supply chain relationships Enhanced ability to address change
- 7. To find the awareness level regarding Corporate Social Responsibility among consumers/Individuals. To know that do consumers/individuals really feel acquainted with enterprises or organizations that are "socially responsible". To know that the tag of being socially responsible increases the brand value and profitability of an organization. To know that do individuals wants that organization should do and disclose their CSR activities and will they have any problem if their company/organization will add a cost/deduct from your salary in name of CSR. To analyze what Percentage of people really apply the concept of being socially responsible on them or they just want the organization to do everything for society.
- 8. Research Design: Data has been collected through online survey. People targeted were Consumers and Employees. Newspapers, Internet, Magazines and Journals would provide ample material about Corporate Social Responsibility. Primary Data has been collected through Online Survey, discussions and observation of various people who are consumers. Secondary Data through Newspaper, magazines, journals and internet. Sampling Methodology: Sampling chosen with the Convenience method Sample Size: 300
- 9. DATA ANALYSIS AND INTERPRETATION
- 16. Importance of CSR When asked to rate out of 10 the importance of Corporate Social Responsibility (CSR), 8 points is given by the maximum number of participant, shows that customer also understands the importance of CSR of any Organization.
- 18. The study shows that the ultimate beneficiaries (Society) of Corporate Social Responsibility don’t have good knowledge about the concept. People just want that the corporate houses must do and disclose their CSR activities for environment, stakeholders and public. Everyone accepts the importance of CSR for an Organization People are ready to pay more to such organizations motivating the organizations to be socially responsible. Both individuals and the corporate organizations need to join hands and contribute for the upliftment of society.
- 19. "By accepting responsibility, we take effective steps toward our goal: an inclusive human society on a habitable planet, a society that works for all humans and for all nonhumans. By accepting responsibility, we move closer to creating a world that works for all." -Sharif M. Abdullah