Name - Sayam Jain REG NO - 20BBA0051 Subject-Cooperate Social Responsibility Assignment

NAME – SAYAM JAIN
REG NO – 20BBA0051
SUBJECT- COOPERATE SOCIAL RESPONSIBILITY
ASSIGNMENT
CSR IS NOT FOR BUSINESS IT IS FOR TRUST AND CHARITY
Corporate social responsibility (CSR) refers to the efforts made by a company to improve society
and contribute towards sustainable development. Also known as corporate conscience or
corporate citizenship, CSR describes initiatives run by a business to evaluate and take
responsibility for their impact on a number of issues ranging from human rights to the
environment.
Corporate social responsibility is a type of self-regulatory business plan, with initiatives focusing
on achieving economic, social and environmental benefits for all stakeholders involved
(employees, consumers, investors and other groups). The purpose of CSR is to encourage
businesses to conduct their companies in an ethical manner and work towards having a more
positive impact on society through ensuring sustainable growth.
Sustainability is often mentioned with CSR and is usually associated with environmental
sustainability. However, sustainability can also apply to many other aspects of a business
including procurement, economic, hiring and training for example. Corporate social
responsibility typically refers to lengths taken by businesses that go beyond what is deemed
compulsory by law and ethical standards as stated by regulators and environmental associations.
TYPES OF CSR:
There are several different forms of corporate social responsibility, all of which address
individual issues. However, the three main types of CSR are environmental, ethical,
philanthropic. Here, we’ll go through each in turn.
Environmental Corporate Social Responsibility
One of the most common forms of corporate social responsibility, a number of companies focus
their CSR efforts towards reducing their impact on the environment. Whilst some UK businesses
are now obliged by law to report on their greenhouse gas emissions, many others that are not
required to are also beginning to address cutting their carbon footprint. Though harmful effects
on the environment were once dismissed as a necessary and unavoidable cost of doing business,
pollution and excessive consumption of resources now also pose a social and political concern on
a global level. For this reason, environmental CSR has taken off, with many companies now
prioritising the impact that their business has on the environment.
Broadly, environmental CSR tends to focus on a business cutting down its greenhouse gas
emissions and waste. This involves re-evaluation of a business’s production processes in order to
identify wasteful acts and cut these from the company’s business plan.
Ethical Corporate Social Responsibility
Ethical corporate social responsibility programmes focus on ensuring that all stakeholders in a
business receive fair treatment, from employees to customers.
Ethical responsibilities are self enforced initiatives that a company puts in place because they
believe it is the morally correct thing to do rather than out of any obligation. Businesses consider
how stakeholders will be affected by their activity and work to have the most positive impact.
Whilst economic and legal responsibilities are the primary concerns of a company, after
addressing these fundamental requirements businesses can then begin to focus on their ethical
responsibilities.
Ethical CSR initiatives are intended to enforce fairer treatment for all employees, with common
examples including paying higher wages, offering jobs to those who might otherwise struggle to
find work, ensuring that decent standards are maintained in factories and refusing to partner in
business with unscrupulous businesses or oppressive countries.
Ethical CSR considers every level of the supply chain, including employees who may not be
directly working for the business. For example, CSR programmes might be in place to ensure
that people producing clothes for a company receive fair treatment, or to prevent small scale
farmers from being exploited by offering fair payment for their crops.
Though sometimes difficult to enforce, these programmes are intended to help ensure that
employees, customers, shareholders and all other stakeholders get the fairest deal possible.
Philanthropic Corporate Social Responsibility

Philanthropic social responsibilities go beyond simply operating as ethically as possible and
involve actively bettering society. This type of corporate social responsibility is frequently
associated with donating money to charities, with many businesses supporting particular charities
that are relevant to their business in some way.
However, philanthropic CSR does not only refer to charity donations. Other common
philanthropic responsibilities include investing in the community or participating in local
projects. The main intention is to support a community in some way that goes beyond just hiring.
By investing in the community, the business encourages loyalty from employees whilst
benefiting from an improved support system. Corporate philanthropy also serves as a way of
representing a company’s commitment to society, demonstrating that they value the community
beyond simply providing a workforce or source of revenue.
For example, businesses might offer their employees the opportunity to volunteer with local
charities during working hours or through matching gift programmes where workers’ donations
to charities are matched by the company.
Benefits of CSR for charities,
More volunteers – Companies that operate CSR volunteering schemes provide a steady flow of
volunteers for charities, helping to ensure that a certain number of volunteer hours can be met
each year.
More funding and exposure – It might sound obvious, but by companies publicising their support
for a charity, awareness of the cause spreads, acting as free marketing and in turn encouraging
more funding. CSR initiatives like matching gift programmes also mean that charities can
receive up to double the amount that they would otherwise, hugely increasing their funding.
Stable partnerships – Partnerships formed through CSR between companies and charities can
often lead to long-term collaborations. Whether through ongoing community projects or
programmes created from the ground up, businesses can provide the means and resources for
charities that would otherwise not have the financial mobility for such campaigns. This work
creates stability for charities, whilst also bringing more attention to the cause.

Name - Sayam Jain REG NO - 20BBA0051 Subject-Cooperate Social Responsibility Assignment

Uploaded by

Copyright:

Available Formats

Name - Sayam Jain REG NO - 20BBA0051 Subject-Cooperate Social Responsibility Assignment

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Name - Sayam Jain REG NO - 20BBA0051 Subject-Cooperate Social Responsibility Assignment

Uploaded by

Copyright:

Available Formats

NAME – SAYAM JAIN

SUBJECT- COOPERATE SOCIAL RESPONSIBILITY

CSR IS NOT FOR BUSINESS IT IS FOR TRUST AND CHARITY

Environmental Corporate Social Responsibility

Ethical Corporate Social Responsibility

Philanthropic Corporate Social Responsibility

Benefits of CSR for charities,

You might also like