Corporate Social Responsibility

The Federal Government also sponsors the Secretary of State’s Award for Corporate Excellence (ACE). Established by the State Department in 1999, the award’s goal is to acknowledge the role U.S. businesses play in the global economy as good corporate citizens. The award is also meant as another way to encourage U.S. businesses to engage in CSR along with other beneficial global practices. Past winners include Cisco Systems, General Motors, Motorola, Ford Motor Company, Coca-Cola, GE, and Chevron/Texaco (“Secretary’s Award for Corporate Excellence”). The CSR team in the U.S.’s Department of State’s Bureau of Economics and Business Affairs manages the award. In addition to presiding over the award, the CSR team also leads “the Department’s engagement with U.S. business in the promotion of responsible and ethical business practices” (Bureau of Economic, Energy, and Business Affairs 1). The team has identified several major areas in which they seek to support and guide U.S. businesses towards responsible conduct. The areas are good corporate citizenship, contribution to the growth and development of the local economy, innovation, employment and industrial relations, human rights, environmental protection, natural resources governance, transparency, anti-corruption, trade and supply chain management, intellectual property, and women’s economic empowerment (“Corporate Social Responsibility”).

Corporate social responsibility offers manifold benefits both internally and externally to the companies involved in various projects. Externally, it creates a positive image amongst the people for its company and earns a special respect amongst its peers. It creates short term employment opportunities by taking various projects like construction of parks, schools, etc. Working with keeping in view the interests of local community bring a wide range of business benefits. For example, for many businesses, local customers are an important source of sales. By improving the reputation, one may find it easier to recruit employees and retain them. Businesses have a wider impact on the environment also. Plantation and cultivation activities taken up by Intel India are a step towards the same.

The Companies Act 2013 opens doors to a wide range of sectors for the companies to divert their CSR funds into; education is one of them. Like government, Indian corporate sector also plays a big role in improving quality of education. As per government mandate corporate with at least 5 crore revenue have to devote 2% of its annual revenue to Corporate Social Responsibility. The law has listed out a wide spectrum of activities under CSR, which cover activities such as promotion of education, gender equity and women’s empowerment, combating HIV/AIDS, malaria and other diseases, eradication of extreme poverty, contribution to the Prime Minister’s National Relief Fund and other central funds, social business projects, reduction in child mortality, improving maternal health, environmental sustainability and employment enhancing vocational skills among others is where corporate can contribute to this worthy cause. While traditionally, the CSR initiatives were restricted to providing financial support to educational institutes; more and more firms have now begun to associate the government to enhance education in rural and under-developed areas.

Corporate Social Responsibility These results will deliver commercial benefits to the landowner by increasing the value of the site. The detailed design of the physical urban form should also lead to long-term commercial gain by increasing land values through the creation of a community, rather than an isolated housing estate, where people want to live, work and play.

PhD (Economy), associated professor E-mail: venusar@mail.ru Abstract The article reveals the characteristic features of modern trends in the formation and implementation of corporate social responsibility in Russia in the current economic conditions, which is based on the fact that reasonable economic interests oriented business not only on maximizing profits, but also to improve their own macro - socio-economic, natural, political, through voluntary investment profits in the respective areas.

OUR CORPORATE SOCIAL RESPONSIBILITY sive testing and verification at the Tsukuba Research Institute in order to identify potential issues with our existing housing products and introduce materials that will further raise our product quality and per- formance. Recognizing that purchasing a home is a major investment for our customers, we are promoting a housing performance reporting system to provide customers a greater sense of security when they pur- chase our products. This indication system provides data from careful evaluations by third-party specialists of the performance of each of our housing products. We provided Housing Performance Evaluation at Design Stage on 95.9% of our housing products in fiscal year 2006.

The document outlines the Vision and Policy of SMS Limited (Formerly SMS Infrastructure Limited) towards Corporate Social Responsibility, in accordance with Section 135 of the Companies Act 2013 and the Rules thereunder. Our vision is – "to actively contribute to the social and economic development of the communities in which we operate. In so doing build a better, sustainable way of life for the weaker sections of society and raise the country's human development index".

Conclusion Corporate Social Responsibility is a difficult and elusive topic for companies to deal with. It can often be very costly and yield benefits that are hard to quantify. Perhaps this is one reason why companies, according to the survey, have put so much focus on the internal improvements that can be made, such as improving corporate governance and transparency. This could also explain why the most important stakeholders, after customers, are the traditionally important employees and shareholders.

Corporate Social Responsibility is a concept where by the corporate managers should take some special steps to protect and promote the welfare of society along with achieving its economic goal .Every business action has some socialism plicatons .Business decisions like using capital – intensive technology in place of labour –intensive technology, entry of MNCs in markets of developing nations , diversification of business. Expansion of business, closing of a business branch, shifting business unit from one place to another, laying off employee due to reduction in demand or change in technology .working in night shifts, working in overtime shifts. Outsourcing of business activities etc. All have some social implication .before talking decisions on any issue that has social implications ,corporate managers must consider such implications Moreover , effects of such decisions on employees, customers , investors, public in general ,government etc. Should also be considered.

I often use these lines, which were first brought to my attention by Charles Jacob, founder of the first ethical investment fund, and which so elegantly express the con- cept that is CSR. The words should also put to rest those concerns highlighted above. There is no problem in profit – indeed, if the success right up to the present day of some of the businesses mentioned above is anything to go by, profit is a fair and just reward for enterprise and industry (today, we might also call it ‘added value’), as long as they are the sources of that profit. But profit should not be falsely boosted by actions that cannot be squared with your conscience, by accounting, pric- ing or buying practices that unfairly reduce the profits earned by others or by prac- tices that damage the health of those involved. In short, corporate social responsibility is little more than acting in a decent, honest and considerate manner as a good citizen should but on a corporate scale. And, because it requires some ini- tial structuring of the business and some long-term planning and monitoring for the business, in the longer term that turns out to be a means of achieving predictable and stable levels of profitability.

Im theoretischen Teil dieser Arbeit geht es darum, die zentralen Begriffe der Diskussion über die gesellschaftliche Verantwortung von Unternehmen näher zu beleuchten und Begriffe wie Corporate Social Responsibility, Corporate Citizenship, Corporate Governance, Stakeholder Management, Social Responsible Investment und nachhaltige Entwicklung voneinander abzugrenzen und deren Bedeutung aufzuzeigen. Modelle und Ansätze in der Entwicklungsphase von CSR, internationale Rahmendokumente und Standards der CSR-Debatte sowie eine allgemeine Darstellung der Situation in Österreich werden näher betrachtet. Im praktischen Teil soll eine Fallstudienanalyse der Unternehmen Henkel CEE, OMV AG und der Telekom Austria Group anhand von Fragen in Bezug auf die durchgeführten Maßnahmen, Projekte und inhaltlichen Schwerpunkte in den drei Bereichen Ökologie, Ökonomie und Soziales zeigen, wie CSR in der Praxis gelebt wird.

Der Beginn der internationalen Normierung von CSR war im Juni 2002 auf Trinidad. Der Workshop „Corporate Social Responsibility – Concepts and Solutions“ vereinte internationale Normungsorganisationen, Unternehmer, Wirtschafts- und Umweltschutzverbände sowie Verbraucherorganisationen. Dort wurden die Rahmenbedingungen für einen zukünftigen Standard für CSR umrissen. 148 In den Folgeveranstaltungen konnte man sich als ein erstes Ergebnis auf eine Definition von Social Responsibility einigen: „Unter diesem Begriff ist ein ausgeglichener Ansatz einer Organisation zu verstehen, sich ökonomischen, sozialen und ökologischen Fragen in der Weise zu stellen, dass Personen, Gemeinschaften und die Gesellschaft einen Nutzen ziehen können.“ 149 Hierbei wurde bewusst auf den Begriffsteil „Corporate“ verzichtet, da sich die Norm nicht nur an Unternehmen, sondern an alle Organistaionen (auch NGOs) richten soll.

Introduction ‘Corporate social responsibility … benefits businesses, people, animals, society and the environment. integrating CSR into business processes and product development ensures better loyalty in customers, investors and employees, and contributes to both the reputation and competitive edge of the business community. This carries CSR beyond just meeting the existing national and international regulations, which by definition means that CSR assumes voluntary participation.’

SUMMARIZING OUTLINE This chapter introduces the idea of corporate social responsibility and follows its evolution from colonial America to its present expansion into the global business arena. The opposition of critics and managers who defy the idea in practice is explained. General principles of corporate social responsibility are set forth. The relationship between social and financial performance is discussed. A section is devoted to the rise of a global system of civil regulation to prompt CSR in multinational corporations. Illustrations of how CSR is encouraged by 8 major elements of this system are given.

Hasil penelitian Podnar dan Golob (2007) sejalan dengan fokus utama dalam proses good governance perusahaan. Proses good governance perusahaan merupakan kebutuhan sebagai wide- sense stakeholder, masyarakat pada umumnya, serta mahasiswa pada khususnya, walaupun tidak meneliti aspek potential decision maker, dimana hanya meneliti objek masyarakat awam saja. Oleh karena itu, diperlukan penelitian yg bertujuan untuk mengetahui ekspektasi mahasiswa terhadap CSR dan dukungan mereka terhadap CSR dengan judul “Pengaruh Ekspektasi Corporate Social Responsibility Terhadap Dukungan Corporate Social Responsibility “. Dipilihnya mahasiswa sebagai objek penelitian karena mahasiswa mempunyai aspek potential decision maker dikemudian hari. Mahasiswa juga cenderung kritis terhadap permasalahan sosial.

Abstract Corporate social responsibility (CSR) has become an important area for organizations and for the managers that work within them and it has subsequently become more apparent within the sport industry where CSR is now an important area of focus for sport related bodies. Aim of this paper is to define the concept of corporate social responsibility, its importance in sport and to conceptualize its value based on some striking case studies carried out successfully by sport related bodies. Documentary research method was used in this study as a data collection method. Further, some striking case studies of CSR carried out successfully by sport related bodies were examined to represent applicability of CSR in sport management. Because of the important role, impact and visibility of sport in society and the ability for sport to address social issues, there is a close integration between CSR and sport. It can be said that CSR is an important aspect that is highly relevant for different sport related bodies and a number of different types of CSR behavior within sport can be ranged. For instance, in this presented paper, some detailed case studies were explored such as sport governing bodies like FIFA, professional sport leagues like NBA, professional sport clubs like FC BARCELONA, individual athletes like FREDERICK OUMAR KANOUTE and sporting goods businesses like ADIDAS engaging in different forms of CSR activities to address social concerns. These sport related bodies use their unique position to help people based on their ethical and philanthropic responsibilities and they can provide some benefits through their CSR approach.

It is unlikely that any radical revision of corporate social responsibility will emerge from organizations given how this discourse is constructed at higher levels of the political economy. Focusing on the individual corporation as the unit of analysis can only produce limited results and serves to create an organizational enclosure around corporate social responsibility. For any radical revisioning to occur, a more critical approach to organization theory is required and new questions need to be raised not only about the ecological and social sustainability of business corporations but of the political economy itself. Radical revisions at this level can only occur if there is a shift in thinking at a macro level. We need to open up new spaces and provide new frameworks for organization-stakeholder dialogues as well as critically examine the dynamics of the relationships between corporations, NGOs, governments, community groups and funding agencies. Contemporary discourses of

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2 | P a g e Brief outline of the NCL’s CSR Policy: (a) The main objective of CSR policy is to lay down guidelines for the company to make CSR a key business process for sustainable development of the Society. It aims at supplementing the role of the Govt. in enhancing welfare measures of the society based on the immediate and long term social and environmental consequences of coal mining.