Corporate Social Responsibility: Benefits, Challenges, and Examples

This presentation delves into the multifaceted concept of Corporate Social Responsibility (CSR), emphasizing its crucial role in business growth and development. It begins with an introduction to CSR, defining it as activities conducted by organizations for societal and environmental welfare. The presentation explores the roles of CSR in identifying societal issues, managing economic and environmental sustainability, and achieving business goals. It outlines the four major components of CSR: economic, legal, ethical, and discretionary responsibilities. The importance of CSR is highlighted, including benefits for companies, communities, and the environment. Challenges faced by businesses in implementing CSR are also discussed. The presentation includes an example of CSR practices by Toyota and concludes by summarizing the key takeaways and benefits of integrating CSR into business strategies. References to academic sources are provided.

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Table of Content
 Introduction
 Corporate social responsibility
 Roles of Corporate social responsibility
 Components of Corporate social responsibility
 Importance of Corporate social responsibility
 Challenges of Corporate social responsibility
 Example of corporate social responsibility
 Conclusion
 References

Introduction
Corporate social responsibility play crucial role in growth and development
business as this will lead to attract more customers towards business. There
are different ways through which company can conduct CRS activities.
These practices will lead to have positive influence on society, environment
as well as company. This presentation consists of roles of Corporate social
responsibility for achievement of business goals. It includes components
CSR and important of CSR practices. Apart from this different challenges
faced by company by CSR activities are identified.

Corporate social responsibility
This can be define as the activities that is conduct by organisation for welfare
of society. Corporate social responsibility can be describe all those
activities that is conducted by organisation for providing of benefit to
society and environment. Concept of CSR cover sustainability, social
impact as well as ethical consideration to performing business task.

Corporate social responsibility
This can be define as the activities that is conduct by organisation for welfare
of society. Corporate social responsibility can be describe all those
activities that is conducted by organisation for providing of benefit to
society and environment. Concept of CSR cover sustainability, social
impact as well as ethical consideration to performing business task.

Roles of Corporate social responsibility
 There are different roles of Corporate social responsibility and this is
helpful in conducting task and activities in effective manner. CSR role
are being mention below.
 Corporate social responsibility will lead to identify and analyse different
issues of society as well as providing benefits. So that society issues can
be timely resolve.
 Its role is to managing economic and environment sustainability in
society by handling issues effectively.

Components of Corporate social
responsibility
There are four major components of Corporate social responsibility that
needs to be consider by Company while conducting CSR activities.
 Economic social responsibility
 Legal social responsibility
 Ethical social responsibility
 Discretionary social responsibility

Importance of Corporate social
responsibility
CSR activities are considered very important as this will lead to provide benefits
to society, company and environment. It is crucial for organisation to
conduct effective and effective corporate social responsibility. Benefits of
Corporate social responsibility are mention below.
 Benefits to company
 Benefits to community and society
 Benefit to environment

Benefits to company
This will help in enhancing performance as well as financial capability of
organisation. CSR activities is beneficial for improving relationship with
customers and developing strong brand image in market area. These
activities will aid in reduction of operating cost to business and improving
productivity of business. CSR activities will include awareness about
product and services offered by company as well as attract larger number
of customers.

Importance of Corporate social
responsibility
CSR activities are considered very important as this will lead to provide benefits
to society, company and environment. It is crucial for organisation to
conduct effective and effective corporate social responsibility. Benefits of
Corporate social responsibility are mention below.
 Benefits to company
 Benefits to community and society
 Benefit to environment

Benefits to community and society
There are several corporate social responsibility conduct by business which
will be beneficial for society. There are many employees that is conducting
volunteer programmes for providing benefits to society. Companies are
contributing finance and other resources to needed people of society. In
order to full fill social responsibility business is providing right and
appropriate products and services to customers at right cost.

Benefit to environment
CSR activities will lead to have positive impact on environment as well. It is
social responsibility of company to use natural resources and material in
better manner. This will aid in correct management or use of renewable
resources. Organisation will be developing products with better durability
as well as functioning in order to reduce negative affect of product from
environment and surrounding.

Challenges of Corporate social
responsibility
There are various issues and challenges faced by company while conducting
corporate social responsibility in effectively manager. It is very difficult
for organisation to identify and analyse need of society in order to conduct
better and effective social responsibility activities. These activities are cost
consuming for business and it require large amount of time to effectively
conduct corporate social responsibility.

Example of corporate social responsibility
Toyota company is conducting different CSR activities that have impact on
customer, employees as well as environment. This company is developing
eco-friendly products that will increase fuel efficiency. These products will
reduce negative impact of pollution on environment and innovation in
products will lead to meet with the needs of customers. Toyota company is
conducting business activities by considering ethics.

Challenges of Corporate social
responsibility
There are various issues and challenges faced by company while conducting
corporate social responsibility in effectively manager. It is very difficult
for organisation to identify and analyse need of society in order to conduct
better and effective social responsibility activities. These activities are cost
consuming for business and it require large amount of time to effectively
conduct corporate social responsibility.

CONCLUSION
From the above presentation it can be concluded that corporate social
responsibility plays critical role in organisation. It is very important for
business to timely conduct different CRS activities for developing strong
brand image in market. This will be beneficial in enhancing sales as well as
earning more profits. These activities will lead to development of high quality
products and services that does not harm consumer or citizen.

REFERENCES
Books and Journals
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven
steps to make corporate social responsibility work for your business.
Routledge.
Cheng, B., Ioannou, I. and Serafeim, G., 2014. Corporate social responsibility
and access to finance. Strategic management journal. 35(1). pp.1-23.

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