110 likes | 262 Views
Corporate Responsibility. Corporate Social Responsibility (CSR ). CSR policy would function as a built-in self regulating mechanism whereby business would monitor and insure its support to law, ethical standards, and international norms.
E N D
Corporate Social Responsibility (CSR) • CSR policy would function as a built-in self regulating mechanism whereby business would monitor and insure its support to law, ethical standards, and international norms. • According to Cannon, “Corporate social responsibility means devising corporate strategies and building a business with the society’s needs in mind.
Nature CSR • Positive Approach • Multi Dimensional Concept • Not an alternate Scope of CSR
Need of CSR • To provide sense of responsibility • To fulfill long-run self-interests • To improve public image • To avoid Government regulation or control • To avoid misuse of national resources & economic power • To avoid class conflicts • To convert resistance into resources • To minimize environmental damage
Type of CSR • Environmental CSR • Human rights CSR • Financial CSR • Political CSR CSR Strategies:
Indian Examples of CSR • Reiance Industries • Tata group firms • Tata motors • IBM • HSBC • Max New York • Standard Charterted Bank • Navratna Company ,Coal India • BHEL • Reddy’s Lab • Hindustan Unilever • ICICI Bank • ITC • SAIL • TCS & Wipro