29 March 2014

CSR in Business!!

*      Corporate social responsibility (CSR) is the process by which businesses negotiate their role in society
*      In the business world, ethics is the study of morally appropriate behaviors and decisions, examining what "should be done
*      Although the two are linked in most firms, CSR activities is no guarantee of ethical behavior
*      An Internet search turns up 15,000 plus response to “corporate citizenship”
*      Journals increasingly “rate” businesses (and NGOs) on socially responsive criteria:
*      Best place to work
*      Most admired
*      Best (and worst) corporate reputation
*      CSR activities are important to and even expected by the public
*      And they are easily monitored worldwide
*      CSR activities help organizations hire and retain the people they want
*      CSR activities contribute to business performance.
*      CSR are Grounded by Opposing Objectives (Maximize Profits to Balance Profits with Social Responsibility) and so Activities Range Widely.
*      Do what it takes to make a profit; skirt the law; fly below social radar
*      Fight CSR initiatives
*      Comply with legal requirements
*      Do more than legally required, e.g., philanthropy
*      Articulate social (CSR) objectives
*      Integrate social objectives and business goals
*      Lead the industry on social objectives.
Businesses CSR Activities
*      Philanthropy
*      give money or time or in kind to charity
*      Integrative philanthropy—select beneficiaries aligned with company interests
*      Philanthropy will not enhance corporate reputation if a company
*      fails to live up to its philanthropic image or
*      if consumers perceive philanthropy to be manipulative.
Integrate CSR Globally
*      Incorporate values to make it part of an articulated belief system
*      Act worldwide on those values
*      Cause-related marketing
*      Cause-based cross sector partnerships
*      Engage with stakeholders
*      Primary stakeholders
*      Secondary stakeholders.

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