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Home >> nonprofits & donors >> Corporate Social Responsibility (CSR)
Why Corporate Social Responsibility occurs:
- for economic, social, and environmental bottom lines
- to get ISO 14000 which reviews environmental impact
- community pressure to do so
- to enhance reputation
- as a branding exercise
- to improve community relations and public image
- to enable employees to enjoy new levels of responsibility and leadership skills
- to improve employee satisfaction, morale and loyalty
- to get a sense of fulfillment as a result of contributing to the community

What some companies consider as CSR:
- education for employee families
- plant trees to offset own pollution
- labour welfare
- training courses
- supporting nearby hospital, school, etc.
- donating through own Charitable Trust
- minimizing garbage creation

Companies notions that they are doing CSR or don't need to:
- contributing to GDP of country
- providing employment
- don't pollute
- concentrating on better products for customers
- ensuring good working conditions

 

A must read for businesses, employees in corporates, and ngo's approaching companies for money or sponsorship.

List of Companies that are involved in corporate social responsibility.

 
[PDF] Corporate Social Responsibility Initiatives Of Nse Nifty Companies ... Content, Implementation Strategies & Impact \  View as HTML nseindia.com/content/research/Paper84.pdf -

WE ARE OUTLINING BELOW THE PROFILES AND GOOD WORK DONE BY COMPANIES WHO RECENTLY WON THE BUSINESS WORLD -FICCI FOR CORPORATE SOCIAL RESPONSIBILITY (report courtesy Business World )
 
WINNER No.1 : LUPIN .....In the last 14 years since it was set up, LHWRF has put up 125 schools (either singly or with government help), provided for drinking water facilities in 80 villages and helped 25,000 people cross the ‘poverty line’.
 
WINNER No.2 : CANARA BANK.....each of its 47,000 employee donates three rupees per month to a social cause of their choice—Rs 16.9 lakh annually. And that’s outside of what the bank spends on CSR annually: roughly Rs 10 crore or 1% of its profits.
 
WINNER No.3 : Gujarat Ambuja Cements.....touching the lives of 4.5 lakh people in nearly 300 villages.
 

Central criticisms of corporate social responsibility.

We discern four central criticisms of corporate social responsibility.

When companies engage in socially responsible practices, the first concern is that managers will misappropriate corporate resources by diverting them from their rightful claimants, whether those are the firm's owners or, sometimes, employees.

A second concern is misallocation or inefficiency. Engaging in activities deemed "socially responsible," critics argue, entails diverting resources best used for economic purposes to advance purposes for which those resources are poorly suited. From this perspective, managers' social initiatives are akin to using a dishwasher to wash clothes. Corporations can contribute best to society if they do what they do best: employ a workforce to provide goods and services to the marketplace and, in so doing, fulfill people's needs and create wealth. Engaging in socially responsible activities is not what companies do best and, according to critics, is thus a poor allocation of corporate resources.

The third criticism has to do with due process and democratic institutions. Even laudable and noble actions taken by companies on behalf of society need to be taken in accord with procedures that respect rights and afford subsequent accountability. Some critics fear that socially responsible corporate activity encroaches upon the role of government and usurps authority reserved for elected officials and bodies answerable to the public.

Finally, critics worry about the psychological implications of asking managers to focus on dual objectives. Having to advance economic performance and be socially responsible, some argue, destines managers to do neither. Some fear it is a recipe for distraction, frustrating managers' efforts to advance either objective and, worse yet, providing managers with a convenient excuse when they fail to achieve economic objectives. Mismanagement can be attributed to efforts to be "socially responsible."

.....but the world is turning to corporations to do more than meet financial demands.

Why? Largely because people see the tremendous capabilities that companies have. How can companies respond effectively? Searching for ways that organizations can deliver value to society along multiple dimensions is the challenge before researchers and business leaders.

.... read the rest of the interesting thoughts in http://www.hbsworkingknowledge.hbs.edu/item.jhtml?id=4129&t=nonprofit