Corporate social responsibility is known as corporate responsibility, corporate citizenship, responsible business, or corporate social performance is a form of corporate self regulation integrated into a business model.
CSR Operating in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business”. CSR Business for social responsibility.
CSR is about how companies manage the business process to produce an overall positive impact on society.
Company need to answer to two aspects of their operations. The quality of their management-both in terms of people and process. The nature and quality of business impact on society in the various areas.
CSR is concept, whereby companies decide voluntarily to contribute to a better society and a cleaner environment. CSR is concept where by companies integrate social environment concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.
responsibility | Societal expectation | examples |
economic | required | Be profitable , maximize sales, minimize costs, etc |
legal | required | Obey laws and regulations |
ethical | expected | Do what is right, air and just |
Discretionary(philanthropic) | expected | Be a good corporate citizen |
1) A social approach to business
2) Exemption of income tax
3) Good corporate image
4) Social responsibility of business enables the organization to improve its positioning and there by improve its market share
Initiations by Indian corporate in csr
1) India has consistently ranked among the top three along with Singapore and hongkong in a survey carried out by the Asian governance association
2) In another study undertaken by automotive research company, TNS automotive, india has been ranked second in global CSR. Bharth petroleum and maruti, udyog were ranked as the best companies in india
3) According to time, the Indian corporate sector spend RS...