But it also has its shortcomings. CSR Committee and Policy: Opinions in the voluntary sector are also split. The situation is further aggravated by a lack of communication between the company and the community at the grassroots.
Fifthly, there are no clear cut statutory guidelines or policy directives to give a definitive direction to CSR initiatives of companies. Corporate ethics built on stakeholder theory seek to involve all those affected by the organization in its decision-making process.
The polluted water, Travolta suspects, eventually surfaced as birth defects. An industrial chemical company may take the lead in rehabilitating an empty Indian perspective of corporate social responsibility ppt into a park.
Today, Ludditism is the general opposition to new technologies in any industry on the grounds that they tear the existing social fabric: Politics can skew priorities too, with some companies looking to gain goodwill by backing government-led projects rather than independent initiatives.
The company strives to meet social welfare needs. The purpose of the firm, underneath this theory, is to maximize profit on a collective bottom line, with profit defined not as money but as human welfare.
Eighthly, many corporate houses in the country that are directly involved in various CSR initiatives.
Companies take resources in the form of raw materials, human resources etc from the society. This research indicates that more than 65, women entrepreneurs are doubling their incomes while increasing rural access and hygiene in Indian villages.
Corporate directors, in other words, spend part of the day just as directors always have: Grace did that, as well as Beatrice Foods. Of course there are special cases. Ninthly, the role and efforts of the private sector in taking development agenda forward with focus on education, health, environment, livelihood, women empowerment, disaster management to mention a few have been visible and effective.
Another criticism is about the absence of a standard auditing procedure. Socially responsible activities promote fairness, which in turn generate lower employee turnover. This scenario often creates barriers in implementing CSR initiatives.
This also builds the case for investing in local communities by way of building their capacities to undertake development projects at local levels. One deep difference between corporate social responsibility and the triple bottom line is cultural. Moving this reasoning over to the case of W.
As a result, a long term and sustainable perspective on CSR activities should be built into the existing and future strategies of all stakeholders involved in CSR initiatives.
Their inclination is to slow development down, and to keep things the same as far as possible. Appropriate steps should be undertaken to address the issue of building effective bridges amongst all important stakeholders for the successful implementation of CSR initiatives.
This effort will also motivate other corporate houses to join the league and play an effective role in addressing issues such as access to education, health care and livelihood opportunities for a large number of people in India through their innovative CSR practices. Seventhly, CSR as a subject or discipline should be made compulsory at business schools and in colleges and universities to sensitize students about social and development issues and the role of CSR in helping corporate houses strike a judicious balance between their business and societal concerns.
At every turn, stakeholders are treated to some extent like shareholders, as people whose interests need to be served and whose voices carry real force. The company can also make the annual report of CSR activities in which they mention the average net profit for the 3 financial years and also prescribed CSR expenditure but if the company is unable to spend the minimum required expenditure the company has to give the reasons in the Board Report for non compliance so that there are no penal provisions are attracted by it.
Second, corporate social responsibility is also a specific conception of that responsibility to profit while playing a role in broader questions of community welfare. Further as per the CSR Rules, the provisions of CSR are not only applicable to Indian companies, but also applicable to branch and project offices of a foreign company in India.
Shrinking government resources, coupled with a distrust of regulations, has led to the exploration of voluntary a nd non-regulatory initiatives instead. Proponents assert that Whole Foods has been able to work with its suppliers to improve animal treatment and quality of meat offered in their stores.
This is characterized as the "soul" of a company, expressing the social and environmental priorities of the founders. After checking things out, he races his Porsche back to Boston at the same speed. Transparency and dialogue can help to make a business appear more trustworthy, and push up the standards of other organizations at the same time.
It is found that the scale of CSR initiatives of companies should depend upon their business size and profile.Corporate Social Responsibility (CSR) is referred as a corporate initiative to assess and take responsibility for the company's effects on the environment and impact on social welfare and to promote positive social and environmental change.
CSR in Indian Perspective - Download as PDF File .pdf), Text File .txt) or read online. CSR Research Paper by Indian author. Search Corporate Social Responsibility Today CSR is not optional and taking a shape of management principle as strategically vital which is progressively spreading across all companies in India regardless of sector.
Every single major policy initiative in this country has been driven with a perspective that an According to Indian Institute of Corporate Affairs, a minimum of 6, Indian companies will be required to undertake CSR projects in order Handbook on Corporate Social Responsibility in India 7 What is CSR?
strategic philanthropy, corporate citizenship, social responsibility and other monikers. As the names imply, each carries with it a certain perspective on the role of business in society.
Regardless of the label, for now the dominant paradigm underlying corporate social responsibility or CSR is. Corporate social responsibility (CSR) has been catching the attention of academicians, researchers, and international media and policy makers for more than half a century and recently the minds of corporate bigwigs as well.
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