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Corporate Responsibility

Corporate Social Responsibility (CSR) is a self-regulating mechanism enabling businesses to adhere to legal and ethical standards while addressing societal needs. CSR is multifaceted, encompassing environmental, human rights, financial, and political aspects. Its significance lies in fostering a sense of responsibility, improving public image, avoiding regulatory interventions, and managing resources effectively. Companies like Reliance Industries, Tata Group, and Hindustan Unilever exemplify CSR practices in India, showcasing the commitment to societal and environmental sustainability.

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Corporate Responsibility

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  1. Corporate Responsibility

  2. 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.

  3. Nature CSR • Positive Approach • Multi Dimensional Concept • Not an alternate Scope of CSR

  4. 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

  5. Type of CSR • Environmental CSR • Human rights CSR • Financial CSR • Political CSR CSR Strategies:

  6. Integrating CSR into Business

  7. Significance of CSR

  8. Limitations of CSR

  9. 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

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