CSR is a win- win opportunity for companies, financial investors and society at large

1. CSR is a win- win opportunity for companies, financial investors and society at large

2. Social Responsibility:Definition and Debate Social Responsibility • The idea that business has social obligations above and beyond making a profit. • Business has an obligation to constituent groups in society other than stockholders and beyond that prescribed by law.

3. Purpose of CSR • To engage with the internal and external stakeholders • Treating the stakeholders ethically • To create high standards of living • To protect society and environment • To take care of shareholders • Philanthropic contributions to society

4. Factors Leading to CSR - Drivers • Globalization and competition • Increased size and influence of companies • Repositioning of governments and its roles • War for talent • Growth of global civil society activism

5. Generations of CSR Social Betterment Social responsiveness First Generation- Companies can be responsible in ways that do not detract from commercial success. Second Generation- Focusing on CSR as an integral part of long term business strategy. Third Generation- Significant contribution to address issues such as poverty, environmental degradation.

6. A Continuum of Social Responsibility Strategies

7. Social Responsibility Strategies • Reactive Strategy • Denying responsibility while striving to maintain the status quo by resisting change. • Defensive Strategy • Resisting additional social responsibilities with legal and public relations tactics.

8. Social Responsibility Strategies (cont’d) • Accommodation Strategy • Assuming social responsibility only in response to pressure from interest groups or the government. • Proactive Strategy • Taking the initiative in formulating and putting in place new programs that serve as role models for industry.

9. Balancing corporate power with corporate responsibilities Protects business self-interest Limits future government intervention Addresses issues by using business resources and expertise Addresses issues by being proactive Corporate Social Responsibility (CSR)Arguments For

10. Business is not equipped to handle social activities Dilutes the primary aim of business Organization may get power over society Increase business power Lack of expertise to handle social issues Corporate Social Responsibility (CSR)Arguments Against

11. How do we do it? Key CSR Steps • Commitment and Vision • Planning • Implementation • Monitoring • Reporting • Continuous Improvement

12. Limitations of Approaches to CSR • Lack of clarity of the definition of CSR • Models of CSR not adopted properly by companies • Lack of measures to innovate and evolve new CSR models • Unidentified segment- need to identify the areas of interest & capability to take up CSR in a focused manner.

13. Organisations • IISD (International Institute of Sustainable Development) • BSR (Business for Social Responsibility) • WEF (World Economic Forum) • BSD (Business for Social Responsibility) • WBCSD (World Business Council for Sustainable Development