Another criticism is about the absence of a standard auditing procedure. Economic sustainability values long-term financial solidity over more volatile, short-term profits, no matter how high. As the imbalances grow, as the rich get richer and the poor get both poorer and more numerous, the chances that society itself will collapse in anger and revolution increase.
So the bigger charities that are more well-known are being flooded with money leaving out smaller charities. Make the money hurt. Consequently, more industrialised states are winning over poorer, more remote regions where development aid is acutely needed.
In other words, the bigger the company, the bigger is its CSR program. What is the effect of legislation? Fifthly, many CSR initiatives and programs are taken up in urban areas and localities.
It was no longer enough to win money; his business had a moral responsibility to win for society and to win for the environment also. Inequality - One of the challenges for the corporate sector is finding credible charity partners to support.
The reasoning is simple: It also calls for investing in employee work conditions such as health care and education which may enhance productivity and retention.
Competitive advantage - Businesses that show how they are more socially responsible than their competitors tend to stand out. Further, the case of an industrial chemical company pouring toxins into the ground that erupt years later with horrific consequences evidences this: Companies now have to think seriously about the resources, timelines and strategies needed to meet their legal obligations.
In a recent survey by Environics International, more than one in five consumers reported having either rewarded or punished companies based on their perceived social performance. What gets left out, however, of the newspaper reports hailing the accomplishments of a Steve Jobs or a Bill Gates are all those other people who never made it—all those who invested family savings in a project that ended up bankrupt.
The business case for CSR  within a company employs one or more of these arguments: 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.
Therefore CSR attracts customers. Sixthly, the role of media in highlighting good cases of successful CSR initiatives is welcomed as it spreads good stories and sensitizes the local population about various ongoing CSR initiatives of companies.
CSR can also help improve the perception of a company among its staff, particularly when staff can become involved through payroll givingfundraising activities or community volunteering. Create a hypothetical situation in which philanthropy would not be required of a corporation by CSR theory.
There are certainly some challenges faced in the implementation of CSR but what are the reasons? Firstly, in the past, governments have relied on legislation and regulation to deliver social and environmental objectives in the business sector.
The legal responsibility to adhere to rules and regulations. For example, to remain profitable, an industrial plant may need to dispose of waste and toxins in barrels that barely meet legally required strengths. The Centre for Responsible Business is working on similar sector-specific standards.
Required by simple economics, this obligation is the business version of the human survival instinct. Second, in all three of these areas, the company should obtain sustainable results. Similarly, a law firm may volunteer access to their offices for an afternoon every year so some local schoolchildren may take a field trip to discover what lawyers do all day.
It also deflects pressure on companies to change their business practices. Secondly, it is noted that partnerships between all stakeholders including the private sector, employees, local communities, the Government and society in general are either not effective or not effectively operational at the grassroots level in the CSR domain.Microsoft's core mission as a company, is to help people and businesses around the world realize their full potential.
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CSR and Global Compact: The Indian Perspective. The IUP Journal of Corporate Governance, Vol. IX, No. 3, pp.July Corporate Social Responsibility (CSR) eJournal. Subscribe to this fee journal for more curated articles on this topic FOLLOWERS Corporate social responsibility (CSR) from an ancient Indian perspective.
A review of literature in CSR shows that there are thousands of articles which have been written by several academics on this subject from numerous perspectives, but limited articles written about CSR from the philosophical, historical and from the ancient perspectives. Corporate Social Responsibility and Business Ethics -Ubga week 12 today ’ s agenda administrative matters (return exams) only scantron is returned to you.
blue books are available to be viewed in professor gerlach ’ s office only. PowerPoint Slideshow about 'Ethical Perspectives and Corporate Social Responsibility' - daniel_millan An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other.
CORPORATE SOCIAL RESPONSIBILITY (CSR) o CSR refers to the responsibilities that a business has to the society in which it operates.
o From an economic perspective: A business is an institution that.Download