Corporate Social Responsibility

This presentation discusses the importance and benefits of corporate social responsibility (CSR) in business. It explores why businesses should practice CSR, the benefits of CSR, and the challenges faced in the current competitive business environment. The presentation also provides examples of CSR initiatives taken by organizations such as Johnson & Johnson, Google, and Starbucks.

Corporate Social Responsibility

Table of Contents
 INTRODUCTION
 Why businesses should practice corporate social responsibility
 Benefits of CSR
 Importance of CSR
 Challenges with current competitive business environment
 Some examples of CSR initiatives taken by organizations
 CONCLUSION
 References

Introduction
Corporate social responsibility is defined as a self regulating business model which is
helpful for companies to be socially accountable in front of itself, public and stakeholders.
When any company organises CSR activities, it is helpful in impacting economic, social,
society and environmental aspects. CSR is a wide concept and this can be done by large
companies in various forms. Different CSR activities helps in developing strong bond and
relation between corporations and employees. Different corporate social responsibility
activities are important for both community and company.

Why businesses should practice corporate social
responsibility
The main objective of all companies is to earn
money but there is need for practising corporate
social responsibility activities too in order to
help society and community. There are some
reasons for having corporate social
responsibility in business -
Better public image – It is essential for companies
to enhance their public image and serve
customers and their employees in good manner.
Any company can develop it's image if it is
involving itself in different CSR activities.

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Long term business interest - A better society is able to provide good environment and businesses have
opportunity of gaining maximum profits. Company which is sensitive to the community has to develop
it's self interest for having a better community and conducting business. Various social programmes are
conducted by the companies for social welfare.
Conversion of resistances into resources - If there are any challenges that limits development of society,
then companies put efforts and help in social welfare.

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Avoiding Government intervention – Control and regulation costs a lot to businesses. There
is need of more money as well as energy for implementing and monitoring these operations.
Government intervene in businesses if they are not involving in CSR activities. Government
use it's power and effectively and take strict actions for companies that are not adopting CSR
strategies.

Benefits of CSR
Productivity and Quality - When an organisation
starts to organise CSR activities, there are
chances of increased productivity and quality.
There is need of providing good working
conditions under CSR activities. There is
minimised environmental impact due to the
company and increase in employee engagement
in decision making. This is related to increase in
productivity of the company.
Brand reputation and image - When any
organisation is socially responsible then there is
benefit for public as well as reputation of
business and community.

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Access to Capital – Companies which are adopting corporate social activities have
increased access to capital. Organisations can easily take money for engaging into
different CSR activities.
Improved financial performance – Businesses which are socially responsible are related
to positive financial performances. If there is improvement in financial results then it is
attributed in having stable social, legal, political, environmental, enhanced competitive
advantage by having better corporate reputation and brand image. There is improvement in
recruitment of employees, their motivation and retention. CSR activities also means
providing safe and secure environment to employees and workers.

Importance of CSR
 It ensures respect for human rights
 It results in avoiding bribery and corruption
 It promotes adherence to labour standards by companies and their
business partners
 It aims at consumer protection
 It aims at protection of local and global environment

Challenges with current competitive business
environment
Lack of community participation in CSR activities – The main
problem in CSR activities of a company is lack of interest of local
communities in it. They do not contribute in the Csr activities effectively.
Companies try to enhance knowledge regarding CSR activities to local
communities but their interest level is very low.
Need to build local capacities – Companies take sometimes help of
Non governmental associations for conducting CSR activities. NGO's can
be a tool for improving inefficient, incompetent and lack of support and
resources for the development of society.

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Issues of transparency – This is a key issue while conducting CSR
activity. All organisations must organise CSR activities and mention this
in their audits, programs, meetings, etc. This will help in increasing the
awareness about the work related to social activities among the office.
Perception towards CSR initiatives - Some individuals do not have
knowledge about CSR activities and they think there is no effect of CSR
activities on the working of business. Brand reputation is not build by
using this strategy. But this is wrong as business's image, reputation and
goodwill is developed by organizing CSR activities.

Some examples of CSR initiatives taken by organisations
 Johnson & Johnson – This company has emphasised on minimising the impact on earth for three
decades. This company has taken initiative for saving water and providing water to communities
across the world.
 Google – This organisation has served society by standing against Donald Trump's anti Muslim
comments. They have contributed approximately $ 1 billion dollars to renewable energy projects.
 Starbucks – This company is focusing on diversifying workforce and providing opportunities for
some cohorts. Starbucks has taken hiring initiative and this is focusing on hiring young employees
so that their careers will grow.

CONCLUSION
From the above presentation, it is concluded that for an organisation, it is necessary for
organizing CSR activities and attract people towards the company. There are lot of
benefits that a company has from CSR initiatives.

REFERENCES
Banerjee, S.B., 2008. Corporate social responsibility: The good, the bad and the ugly.
Critical sociology, 34(1), pp.51-79.
Carroll, A.B., 1991. The pyramid of corporate social responsibility: Toward the moral
management of organizational stakeholders. Business horizons, 34(4), pp.39-48.
Turker, D., 2009. How corporate social responsibility influences organizational
commitment. Journal of Business ethics, 89(2), p.189.