“CORPORATE SOCIAL RESPONSIBILITY- A NEED OF THE HOUR”

1. “CORPORATE SOCIAL RESPONSIBILITY- A NEED OF THE HOUR” Prof. SANDEEP PODDAR Prof. NATIKA JAIN 03/16/2011

2. Introduction • CSR is about how companies manage the business processes to produce an overall positive impact on society- Mallen Baker • CSR includes the economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time" Carroll and Buchholtz

3. Objective of the Research • To highlight Importance of CSR • To Understand key elements of CSR • TO Understand link between CSR and Sustainable development through Case study

4. WHY CORPORATE SOCIAL RESPONSIBILITY SHALL BE COMPULSORY? • Globalization of markets, consumer preferences, supply chains and financial flows. Some business leaders consider globalization to be a revolution, not simply a trend, since it is having momentous effects on the economies of all countries and on corporations in most sectors.

5. Increasing intensity of competition. Peter Veil used the expression “managing in white water’ to express the challenge of meeting the turbulence and instability which global competition has created. • A shift from an industrial economy to a knowledge and information – based economy. Human capital is replacing financial capital is replacing financial capital as the most important strategic resource. Traditional concepts of work, of jobs, and of motivation are being challenged.

6. Demographic changes not only threaten the sustainability of our planet but create a mismatch between jobs and suitably – trained workers, and between present educational systems and the need of a knowledge and information based economy.

7. Environmental challenges caused by pollution and resource depletion test the sustainability of our planet earth. Business leaders are called upon to play an important role in meeting these challenges.

8. SIX KEY DIMENSIONS OF CSR • Customer • Employees • Business partners • The environment • Communities • Investors

9. Case analysis 1 COCA COLA 2 ONGC

10. SUGGESTIONS • Understand the importance of corporate social responsibility. • Gain insights into the corporate social responsibility initiatives at. • Learn more about the challenges and issues concerning the implementation of CSR initiatives in companies in developing countries.

11. CONCLUSION • Corporate social responsibility offers manifold benefits both internally and externally to the companies involved in various projects. • Externally, it creates a positive image amongst the people for its company and earns a special respect amongst its peers.. • Working with keeping in view the interests of local community bring a wide range of business benefits

12. With growing globalization, Corporate Social Responsibility (CSR) had been increasing in importance as it helped organizations to improve their relationships with local communities, increase brand value, and build a good corporate image for themselves. • Also, the socio-economic developmental activities undertaken by companies increased the purchasing power of the community, leading to an expansion in their market size.

13. References • David Crowther & KiymetTuncaCaliyurt(2004),Stakeholders and Social Responsibility • ICFAI(2007),Business ethics and Corporate Governance, • Deborah Leipziger(2008), 2nd edn ,The Corporate Responsibility Code Book • David Crowther & KiymetTuncaCaliyurt(2008), 2nd edition,Globalisation and Social Responsibility • DuroNjavro & KristijanKrkac,Business (2006),Ethics and Corporate Social Responsibility

14. References Webliography • You tube-Coco-Cola CSR • You tube-Cover Green ONGC