Csr & Its Initiatives Essay

11952 Words Feb 14th, 2014 48 Pages
1) MEANING OF CSR
Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (“Triple-Bottom-Line- Approach”), while at the same time addressing the expectations of shareholders and stakeholders. In this sense it is important to draw a distinction between CSR, which can be a strategic business management concept, and charity, sponsorships or philanthropy. Even though the latter can also make a valuable contribution to poverty reduction, will directly enhance the reputation of
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CSR is the continuing commitment by businesses to behave ethically and contribute to economic development, while improving the quality of life of the workforce and their families as well as of the local community and society at large. Over the last years an increasing number of companies worldwide started promoting their business through Corporate Social Responsibility strategies because the customers, the public and the investors expect them to act sustainable as well as responsible. In some cases, CSR is a result of a variety of social, environmental and economic pressures while some other cases many large corporations, it is primarily a strategy to divert attention away from the negative social and environmental impacts of their lives. It enables the company to leverage its products, employee strength, networks and profits and up to some extent to create a sustainable change for marginalized communities. Despite certain criticisms on the CSR activities, more and more companies in the world are inclined towards corporate social responsibility. The CSR Executives have the task of reconciling the various programs, quantifying their benefits, or at least sketching a logical connection to the business, and securing the support of business line counterparts. CSR can not only refer to

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