10.

Corporate Social Responsibility

CSR is about capacity building for Sustainable livelihoods It respects cultural differences and funds the business opportunities in building the skills of employees, the community and the Government CSR is about Business Giving Back to the Society

Continuing commitment by Business to have ethically and contribute to economic development While improving the quality of life of workforce, their families as well as local community and society at large

- Worlds Business Council for Sustainable Development

Leading Practitioners of CSR believe that CSR is an integral part of the Wealth Creation Process and it should enhance competitiveness of the business and help the company in times of crisis

CSR is no philanthropy. It is no charity. It is an investment in our collective future - Dr. Manmohan Singh Wealth created from the society has to be ploughed back the society - Mahatma Gandhi

It is an attempt made by companies to be voluntarily responsible to social and ethical considerations

It is not a legal binding

The set of obligations an organization has to project, enhance and work for the betterment of the society It is the overall relationship of the corporate with all its stakeholders, customers, employees, competitors communities, owners/investors, Govt. suppliers, and environment

Relevance and Reasons

For the long-term survival of the company it has to establish a loyal brand customers, repeat customers from the society Public expectations General Public expects that apart from supplying quality goods, fair prices, good services etc, company should not disturb environment ( pollution), or encourage crimes and corruption

Value Approach to CSR

Business, Ethical Values, and Social Responsibility are not contradictory An enterprise adopting value-driven management can manage Profit and can also assure the common good Such an enterprise represents business with a soul This is also Indian Ethos in Management

Value Approach to CSR

In

such organizations, employees are cared for along with his family employee is considered a human being performing multiple roles Management believes in Management by Values Human and Ethical Values

An

Top

Mission

statement says To be a profitable and a successful company while acting in a socially responsible manner

value-driven corporate ethical concepts

Code of Ethics dealing with company policy Ethics Committee discusses ethical problems, deals with Grey or clouded areas, enforce codes, reports to BOD Teaching Ethics in Development Programs of Managers and Employees Social Audit to assess ethical behaviour and action, and on some meaning full social activities of the companies, viz., pollution control, social programs, product performance requirement in terms of social/ethical norms Annual Report contains Social Responsibility and ethical performance disclosure

value-driven corporate ethical concepts

Telco follows value based approach. They conduct value workshop with the following essence:According to Swami Vivekananda, much of the workproblem emanates from jealousy. We should work unselfishly for the greater good Development love and discipline

Human Nature - Body, Mind, Intellect and Soul. Link these to raise performation at a higher level as per inspiration