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CORPORATE SOCIAL RESPONSIBILITY
#1

Prepared by:
MISS HASHIMA KAKKAR
RAHUL MANKOTIA
RUPINDER WALIA

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ABSTRACT

The literature on strategic integration of corporate social responsibility (CSR) in business models is still underdeveloped. We therefore borrow from the theory on strategic management to organize this contribution according to the process of strategic management. After a review of the few strategic CSR approaches, an explorative case study methodology is adopted to study the management of a CSR proxy, viz. This study provides insight into what actions a company takes at every stage of CSR management, into the strategic logic of these actions, and into the different challenges the company faces. This article includes what is Corporate Social Responsibility, Why should business be socially responsible, why has CSR become important, potential benefits of implementing a CSR approach, Real firms are reporting real benefits from CSR, Implementing corporate social responsibility, Organizing for CSR, The moral purpose of business

INTRODUCTION

There is growing recognition of the significant effect the activities of the private sector have on employees, customers, communities, the environment, competitors, business partners, investors, shareholders, governments and others. It is also becoming increasingly clear that firms can contribute to their own wealth and to overall societal wealth by considering the effect they have on the world at large when making decisions. Business opinion polls and corporate behaviour both show increased levels of understanding of the page link between responsible business and good business. Also, investors and financial markets are beginning to see that CSR activities that integrate broader societal concerns into business strategy and performance are evidence of good management. In addition to building trust with the community and giving firms an edge in attracting good customers and employees, acting responsibly towards workers and others in society can help build value for firms and their shareholders. It must be recognized up front that CSR still creates a degree of confusion and controversy.
Is the promotion and implementation of socially and environmentally preferable corporate conduct a function of business or government? Is the implementation of CSR practices a cost or a value-enhancer? Is it just public relations? In part, the problem stems from definitional issues, and a perception in some quarters that CSR is more about philanthropy, rather than doing business and responding to shareholder interests. The central thesis of this guide is that CSR is an integral part of the new business model. Properly understood, CSR should be seen as the way that firms working with those most affected by their decisions (often called stakeholders ) can develop innovative and economically viable products, processes and services within core business processes, resulting in improved environmental protection and social conditions.

This approach manifests itself in many forms, including high profile statements made by many corporate CEOs. Launching General Electric s Ecomagination vision of a cleaner, healthier world, Chief Executive Jeffrey Immelt underlined the company s commitment to find the big answers for the big questions climate change, health, water and to develop solutions, working in partnership with governments and civil society;3 in other words, aligning core business strategy with the changing social and environmental context.
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#2

Presented by:
Ms. HASHIMA KAKKAR
RUPINDER WALIA
RAHUL MANKOTIA

[attachment=6205]


Abstract

The literature on strategic integration of corporate social responsibility (CSR) in business models is still underdeveloped.
After a review of the few strategic CSR approaches, an explorative case study methodology is adopted to study the management of a CSR proxy,
This study provides insight into what actions a company takes at every stage of CSR management, into the strategic logic of these actions, and into the different challenges the company faces
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