Question 7:

a) Please describe the meaning of corporate social responsibility?

b) Please give the examples of social responsibility done by the corporate?

Definition of 'Corporate Social Responsibility'
Corporate initiative to assess and take responsibility for the company's effects on the
environment and impact on social welfare. The term generally applies to company efforts that go
beyond what may be required by regulators or environmental protection groups.
Corporate social responsibility may also be referred to as "corporate citizenship" and can
involve incurring short-term costs that do not provide an immediate financial benefit to the
company, but instead promote positive social and environmental change.
The voluntary compliance of social and ecological responsibility of companies is called
Corporate Social Responsibility (CSR). Corporate social responsibility is basically a concept
whereby companies decide voluntarily to contribute to a better society and a cleaner
environment. Corporate social responsibility is represented by the contributions undertaken by
companies to society through its business activities and its social investment. This is also to
connect the Concept of sustainable development to the companys level.
Over the last years an increasing number of companies worldwide started promoting their
Corporate Social Responsibility strategies because the customers, the public and the investors
expect them to act sustainable as well as responsible. In most cases CSR is a result of a variety of
social, environmental and economic pressures. The Term Corporate Social Responsibility is
imprecise and its application differs. CSR can not only refer to the compliance of human right
standards, labor and social security arrangements, but also to the fight against climate change,
sustainable management of natural resources and consumer protection.
In July 2001, the European Commission decided to launch a consultative paper on
Corporate Social Responsibility with the title Promoting a European Framework for Corporate
Social Responsibility. This paper aimed to launch a debate on how the European Union could
promote Corporate Social Responsibility at both the European and international level.
What is Corporate Social Responsibility (CSR)?
Corporate Social Responsibility (CSR) is defined as the voluntary activities undertaken
by a company to operate in an economic, social and environmentally sustainable manner. The
Government of Canada understands that responsible corporate behaviour by Canadian companies
operating internationally not only enhances their chances for business success but can also
contribute to broad-based economic benefits for the countries in which they are active and for
Canada. Investing and operating responsibly also plays an important role in promoting Canadian
values internationally and contributes to the sustainable development of communities. The
Government of Canada is therefore committed to promoting responsible business practices; and
expects and encourages Canadian companies working internationally to respect all applicable
laws and international standards, to operate transparently and in consultation with host
governments and local communities, and to conduct their activities in a socially and
environmentally responsible manner.
Why is CSR Important to Business?
When companies operate in an economically, socially and environmentally responsible
manner, and they do so transparently, it helps them succeed, in particular through encouraging
shared value and social license. Management and mitigation of social and environmental risk
factors are increasingly important for business success abroad, as the costs to companies of
losing that social license, both in terms of share price and the bottom line, may be significant. As
Canadian firms take advantage of global opportunities, there is an increasing understanding that
incorporation of responsible business practices into investments and operations abroad not only
benefits the local economies and communities, but makes good business sense.
Many organizations have learned that corporate social responsibility not only benefits
their surrounding community but it can also be good for business by helping the company grow
and addressing shareholder concerns. Corporate social responsibility (CSR, also called corporate
conscience, corporate citizenship, social performance, or sustainable responsible business/
Responsible Business) is a form of corporate self-regulation integrated into a business model.
CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and
ensures its active compliance with the spirit of the law, ethical standards, and international
norms. In some models, a firm's implementation of CSR goes beyond compliance and engages in
"actions that appear to further some social good, beyond the interests of the firm and that which
is required by law." CSR is a process with the aim to embrace responsibility for the company's
actions and encourage a positive impact through its activities on the environment, consumers,
employees, communities, stakeholders and all other members of the public sphere who may also
be considered stakeholders.
What is CSR?
Corporate Social Responsibility is a management concept whereby companies integrate
social and environmental concerns in their business operations and interactions with their
stakeholders. CSR is generally understood as being the way through which a company achieves a
balance of economic, environmental and social imperatives (Triple-Bottom-Line- Approach),
while at the same time addressing the expectations of shareholders and stakeholders. In this
sense it is important to draw a distinction between CSR, which can be a strategic business
management concept, and charity, sponsorships or philanthropy. Even though the latter can also
make a valuable contribution to poverty reduction, will directly enhance the reputation of a
company and strengthen its brand, the concept of CSR clearly goes beyond that.
Key CSR issues: environmental management, eco-efficiency, responsible sourcing,
stakeholder engagement, labour standards and working conditions, employee and community
relations, social equity, gender balance, human rights, good governance, and anti-corruption
measures. A properly implemented CSR concept can bring along a variety of competitive
advantages, such as enhanced access to capital and markets, increased sales and profits,
operational cost savings, improved productivity and quality, efficient human resource base,
improved brand image and reputation, enhanced customer loyalty, better decision making and
risk management processes.
















In recent years CSR has become a fundamental business practice and has gained much attention
from the management of large international companies. They understand that a strong CSR
program is an essential element in achieving good business practices and effective leadership.
Companies have explored that their impact on the economic, social and environmental sector
directly affects their relationships with investors, employees and customers.

As companies face themselves in the context of globalization, they are increasingly aware that
Corporate Social Responsibility can be of direct economic value. Although the prime goal of a
company is to generate profits, companies can at the same time contribute to social and
environmental objectives by integrating corporate social responsibility as a strategic investment
into their business strategy.
Types of corporate social responsibility
CSR can encompass a wide variety of tactics, from giving nonprofit organizations a
portion of a company's profits, to giving away a product or service to a worthy recipient for
every sale made. Here are just a few of the broad categories of social responsibility businesses
are practicing:
Environment:
One primary focus of corporate social responsibility is the environment. Businesses, both
large and small, have a large carbon footprint. Any steps they can take to reduce those footprints
are considered both good for the company and society as a whole. Examples include everything
from curbing pollution to developing clean energy solutions.
Philanthropy:
Businesses also practice social responsibility by donating to national and local charities.
Whether it involves giving money or time, businesses have a lot of resources that can benefit
charities and local community programs.
Ethical labor practices:
By treating employees fairly and ethically, companies can also demonstrate their
corporate social responsibility. This is especially true of businesses that operate in international
locations with different labor laws than those in the United States. Research shows that
consumers will turn on companies extremely quickly if they are found operating sweatshops or
violating other ethical labor practices.


b). Please give the examples of social responsibility done by the corporate?

Examples of corporate social responsibility
While many companies now practice some form of social responsibility, a few have made
it a core of their operations. Ben and Jerry's ice cream offers one prominent example; the
company uses only fair trade ingredients, and developed a dairy farm sustainability program in
its home state of Vermont. Starbucks has created its C.A.F.E. Practices guidelines, which are
designed to ensure the company sources sustainably grown and processed coffee by evaluating
the economic, social and environmental aspects of coffee production. Tom's Shoes, another
notable example of a company with CSR at its core, donates one pair of shoes to a child in need
for every pair a customer purchases.
Taking socially responsible initiatives with your business is truly a win-win situation. Not
only will your company appeal to increasingly socially conscious consumers and employees, but
you'll also make a real difference in the world. Keep in mind that in CSR, transparency and
honesty about what you're doing are paramount to earning the public's trust.
"If decisions about social responsibility are made behind closed doors, people will
wonder if there are strings attached, and if the donations are really going where they say,"
Cooney said. "Engage your employees and consumers in giving back. Let them feel like they
have a voice." CSR projects might be successful at improving living conditions of local people.
However, building and sustaining economic development goes far beyond CSR possibilities and
overreliance on CSR may undermine governance institutions.
Understanding the Types of CSR
There are actually two different types of corporate social responsibility to consider. The
first one consists of corporations providing funding and resources for worthwhile social causes,
such as donating money or employee time to charities. For many people, this is the definition
used when thinking about corporate responsibility. However, another type of CSR involves
putting together a real plan to produce products or provide services that are in the best interests
of society. These include things like using safe materials in design and manufacture, corporate
environmental initiatives, and other factors such as job creation and economic development.

Showing a True Commitment
The most successful corporate social responsibility programs integrate these two types of
CSR together to show a true commitment to a cause. For example, a company that uses
sustainable materials in their products, donates financial resources to environmental causes, and
allows employees to take paid time off for volunteering at environmental charities would be
showing a true commitment to the environment that goes beyond any single CSR initiative.
Social Media Visibility
One of the reasons that corporations should have visible CSR campaigns is due to the
importance and prevalence of social media. Corporations that want to protect their brand
understand that social media is an integral part of public perception. When a corporation
exercises social responsibility in the form of fundraising or setting up employee giving programs,
using social media to promote these actions helps to create a positive branding environment and
it is a great way to engage with your audience on a deeper level that goes beyond your products
or services.
Public Relations Benefits
Public relations is a potent tool for shaping consumer perception and building a
companys image. Corporations that actively promote their social responsibility activities often
take steps to publicize these efforts through the media. Getting the word out about corporate
donations, employee volunteer programs, or other CSR initiatives is a powerful branding tool
that can build publicity for you in both online and print media.
Government Relations
Corporations that place an emphasis on corporate social responsibility typically have an
easier experience when dealing with politicians and government regulators. In contrast,
businesses that present a reckless disregard for social responsibility tend to find themselves
fending off various inquiries and probes, often brought on at the insistence of public service
organizations. The more positive the public perception is that a corporation takes social
responsibility seriously, the less likely it is that activist groups will launch public campaigns and
demand government inquiries against it.
Building a Positive Workplace Environment
Finally, one of the greatest benefits of promoting social responsibility in the workplace is
the positive environment you build for your employees. When employees and management feel
they are working for a company that has a true conscience, they will likely be more enthusiastic
and engaged in their jobs. This can build a sense of community and teamwork which brings
everyone together and leads to happier, more productive employees.
Conclusion
Organizations are coming to realize the bottom-line benefits of incorporating
sustainability into their DNA. Its beneficial for attraction and retention and its the right thing
to do. HR is a key organizational leader and can take the lead or partner with other executives to
work cross-functionally to integrate CSR objectives into how business gets conducted. HR
practitioners can act as translators of the organizations CSR commitment vertically and
horizontally across departments. Most will find upon reading this report that they have many
good practices underway. Many will find they have a new structure for their thinking they can
apply practically in the workplace. Some will believe the current economic downturn will put
these ideas on the backburner until the economy rebounds, while others think that organizations
which abandon their CSR integration in the downturn will lose ground and breed cynicism in
brighter times. Regardless of the point of view, all agree that effective HR leadership on CSR
integration requires Board, CEO and executive commitment to be successful. The firm of the
future is expected to have undergone significant transformation such that CSR no longer
becomes managed as a separate deliverable, but is part of the experience of being an employee in
an organization that lives its values.





















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