Corporate Social Responsibility

Corporate Social Responsibility (CSR) is the alignment of business operations with social values. It takes into account the interests of stakeholders in the company's business policies and actions.


CSR focuses on the social, environmental, and financial success of a company - the so-called triple bottom line - with the aim to achieve social development while achieving business success.



Companies now perform in non-financial arenas such as human rights, business ethics, environmental policies, corporate contributions, community development, corporate governance, and workplace issues.


Social and environmental performances are considered side by side with financial performance. From local economic development concerns to international human rights policies, companies are being held accountable for their actions and their impact.

Companies are also more transparent in disclosing and communicating their policies and practices as these impact employees, communities, and the environment.



In the new global economy, companies that are responsive to the demands of all of their stakeholders are arguably better positioned to achieve long-term financial success. It is no longer optional for a company to communicate its environmental and social impacts; such information is pertinent in an information-driven economy, and improved communication has become critical for sustainable business growth.





The new slogan


CSR has become the password to not only overcome competition but to ensure sustainable growth. It has been supported not only by the shareholders but stakeholders by and large encompassing the whole community. Corporate Virtue Is In is the slogan and why not? As it offers so many advantages including a hike in profits.



CSR is the point of convergence of various initiatives aimed at ensuring socio-economic development of the community which would be livelihood oriented as a whole in a credible & sustainable manner.





Benefits of CSR

• Improved financial performance
• Reduced costs
• Enhanced brand image and reputation
• Increased sales and customer loyalty
• Customer satisfaction
• Increased productivity and quality
• Increased ability to attract and retain employees
• Reduced regulatory oversight
• Favorable positioning
• Competitive mileage
• More engaged investors
• Environmental sustainability
• Forging of partnerships

Source: - http://www.izine.in/articles/Corporate-Social-Responsibility.asp