...Practices Including Reporting of CSR Activities 12 * Part Two: Statement of the Problem Emphasis on Business Involvement in CSR Activities 15 Theoretical Discussion on CSR Practices 19 Why The Reporting Necessary in relation to CSR Practices 22 Standard of Listed companies in Bangladesh with Regard to Social Audit 23 * Part Three: Objectives, Scope & Methodology of the Study Objectives 26 Scope 27 Methodology 28 * Part Four: Findings of the Study Sample Enterprises 30 Areas of Social Responsibilities Discharged 33 Reporting Practices 36 Evaluation 37 * Part Five: Conclusion Summary of the Findings 39 Future Directions 40 References 42 Part one: Introduction A Brief Description of CSR Corporate social responsibility (CSR), also known as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business (SRB), or corporate social performance, is a form of corporate self-regulation integrated into a business model. Ideally, CSR policy would function as a built-in, self-regulating mechanism whereby business would monitor and ensure its support to law, ethical standards, and international norms. Consequently, business would embrace responsibility for the impact of its activities on the environment, consumers...
Words: 4961 - Pages: 20
...ABSTRACT The new company law has been put in place by the government with best intentions and it is now the turn of the corporate sector to demonstrate that it will play according to the rules. The government on its part must trust the corporate sector to function honestly and also keep a watch. The Companies Act, 2013, enacted on 29th August, 2013 on accord of Hon’ble President’s assent, has the potential to be a historic milestone, as it aims to improve corporate governance, simplify regulations, enhance the interest of minority investors and for the first time legislate the roles of whistle blowers. The 2013 Act has introduced several provisions which would change the way Indian corporates do business and one such provision is spending on activities of Corporate Social Responsibility. The importance of Corporate Social Responsibility is increasing in Indian Corporate scenario because organisation have realize that ultimate goal is not profit making beside this trust building is viable and assertable with societal relationship. “Companies Act 2013: A Revolutionary Legislation or Not” “Businesses need to go beyond the interests of their companies to the communities they serve.” ~Ratan Tata, Former Chairman the Tata Group India had a long tradition of corporate philanthropy and industrial welfare has been put to practice since late 1800 A.D. Historically, the philanthropy of business people in India has resembled western...
Words: 2412 - Pages: 10
...A BRIEF ANALYSIS OF [pic] CORPORATE SOCIAL RESPONSIBILITY [pic] ABSTRACT Corporate Social Responsibility (CSR) is becoming an increasingly important activity to businesses nationally and internationally. As globalization accelerates and large corporations serve as global providers, these corporations have progressively recognized the benefits of providing CSR programs in their various locations. CSR activities are now being undertaken throughout the globe. “Every company harms the environment and people!” CHAPTER I THE RESEARH PROPOSAL [pic] [pic] INTRODUCTION The problems and issues that confront society today are too large and complex to be solved by government and NGOs alone. Sustainable solutions to society’s problems can only be found through the collaboration and involvement of all who are part of it. Companies have tremendous strengths; they have extremely capable people, technology, access to money, the ability of geographical reach, etc. Many companies worldwide and now even in Pakistan are more powerful than governments and even countries, and thus corporate are important stakeholders in society. Our objective of the research is analysis of Pakistan’s major telecom companies to explore and understand the role that telecom corporate are playing and can play in finding meaningful solutions to the problems facing Pakistan today. RESEARCH OBJECTIVES: The general objective of our study is to identify...
Words: 4737 - Pages: 19
...Business Ethics Assignment Corporate Social Responsibility Table of Content_____________________________________________________ ______ What is corporate social responsibility? 3 Why Has CSR Become Important? 4 3. What Is The Business Case For CSR? 4 4. Potential benefits of implementing a CSR approach 5 5. Are Firms Benefiting From CSR Activities? 7 6. What Is The Relationship Between CSR And The Law? 8 7. Implementing Corporate Social Responsibility________________________ 8 8. CSR Implementation Framework and Corporate Governance__________ 9 9. What Is a CSR Strategy? 11 10. Why to Have a CSR Strategy?_______________________________________11 11. How to Develop A CSR Strategy?____________________________________11 11.1 Build support with senior management and employees______________ 11 11.2 Research what others are doing___________________________________ 11 11.3 Prepare a matrix of proposed CSR actions__________________________ 12 11.4 Develop options for proceeding and the business case for them______13 11.5 Decide on direction, approach and focus areas____________________ 14 12. Can You Have Social Responsibility Without Ethics?__________________ 15 13. Corporate social responsibility as business strategy__________________ 20 ...
Words: 10867 - Pages: 44
...MSc in Accounting P58330 Financial Reporting Corporate Social Responsibility and Accounting Standards Christos Spanoudakis Student ID:13086848 Date of Submission: 3rd April 2014 Introduction Nowadays, more and more large companies publish except from their financial statements also social and environmental reports. It is broadly known that companies’ activities have as a consequence an impact in society and environment. For this reason companies should be responsible not only for financial performance but also should take into consideration the responsibility for their social and environmental performance. Governments, non-governmental organizations, press and media are the parties that keep the companies responsible for the impact of their activities on the environment and society (Porter and Kramer, 2007). That happens because some of these parties have direct influence in the company’s image. For example if media transmit news that erode company’s image, this will definitely influence negatively stakeholders’ opinion and trust for the organization (Neu et. al., 1998). The concept of Corporate Social Responsibility (CSR) works like a self-regulating tool, which aids the company to observe and guarantee that its operations are aligned with the law, ethical standards and international rules. Some companies, which apply CSR, achieve with their actions to benefit society beyond the primary objectives of the company and that which is mandatory by the legislation (McWilliams...
Words: 4257 - Pages: 18
...2009 Suparn Sharma, Jyoty Sharma, Arti Devi 205 CORPORATE SOCIAL RESPONSIBILITY: THE KEY ROLE OF HUMAN RESOURCE MANAGEMENT Suparn Sharma (PhD),Joity Sharma (PhD), Arti Devi Abstract Business organizations have waked up to the need for being committed towards Corporate Social Responsibility. But still majority have just been taking up some form of philanthropic activities for its stakeholders. Nurturing a strong corporate culture which emphasizes Corporate Social Responsibility (CSR) values and competencies is required to achieve the synergistic benefits. The employees of an organization occupy a central place in developing such a culture which underlines CSR values and competencies. The present study, therefore, is an attempt to explore the engagement of human resource management professionals in undertaking Corporate Social Responsibility. It also suggests Human Resource Management to take a leading role in encouraging CSR activities at all levels. The combined impact of CSR and human resource activities, which reinforce desirable behavior, can make a major contribution in creating long term success in organizations. Sharma S., Sharma J. and Devi A. - Corporate Social Responsibility: The Key Role of Human Resource Management 206 Business Intelligence Journal January Introducción Business houses, right from the inception of human race, have been regarded as constructive partners in the communities in which they operate. Though they have been instrumental...
Words: 3967 - Pages: 16
...Corporate Social Responsibility (CSR) Introduction Business houses, right from the inception of human race, have been regarded as constructive partners in the communities in which they operate. Though they have been instrumental in creating employment, wealth, products and services, yet the pressure on business to play a role in social issues involving employees, stakeholders, society, environment, government etc. is continuously increasing. The society is questioning the existence of business houses, especially in the wake of the scandals and scams conducted by the business houses like UTI, Enron, and WorldCom. In response to it, the organizations around the globe are forced to wake up to the need for being committed towards Corporate Social Responsibility. Over the years this concept of Corporate Social Responsibility (CSR) has gained unprecedent momentum in business and public debate and has become a strategic issue crossing the departmental boundaries, and affecting the way in which a company does business. It has become so important that many organizations have rebranded their core values to include social responsibility. Almost all corporate websites/ policies/reports talk about their endeavors for CSR which has become a way of ensuring that the organization is fulfilling all the obligations towards society and thus is eligible for the license to operate. It assures that the organization can grow on sustainable basis. These activities of CSR ranging from small...
Words: 3378 - Pages: 14
...CORPORATE SOCIAL RESPONSIBILITY IN BANGLADESH: PRACTICE AND PERPETUITY Promoting Safety, Enforcing Rights Corporate Social Responsibility in Bangladesh: Practice and Perpetuity Supported by Published by Promoting Safety, Enforcing Rights Corporate Social Responsibility in Bangladesh: Practice and Perpetuity Researcher Rumana Sobhan Porag Safety and Rights Society Published by Safety and Rights Society 14/23 Babor Road (4th floor) Block B, Mohamadput Dhaka 1207 Tel: +88 02 - 9119903-4 Mobile: +88- 01193 200207, +88- 01191 797414 www.safetyandrights.org info@safetyandrights.org Date of Publication January, 2014 Copyright Safety & Rights Society Printed by Chowdhury Printers and Supply 48/A/ Badda Nagar, B.D.R. Gate No. 1 Pilkhana, Dhaka-1205 ISBN : 978-984-33-6453-1 2 ACKNOWLEDGEMENTS We wish to express our appreciation to the following individuals and organisations, without whose support this research would not be possible to accomplish. Our appreciation goes to the business leaders who provided their valuable time in sharing their views and CSR practices, and for the in-depth discussions on the current situation and ways and means of improving CSR practice in Bangladesh. We were encouraged by the enthusiasm shown by the private sector and their willingness to meet with us and share their experience, often at very short notice. Without the support from these leaders, our study would not have been possible. We would...
Words: 19988 - Pages: 80
...Global Business and Management Research: An International Journal Corporate Social Responsibility Practices in India: A Study of Top 500 Companies Richa Gautam and Anju Singh Industrial Safety & Environment Management Group, National Institute of Industrial Engineering (NITIE), India Abstract Purpose -The purpose of this study is to explore the various definitions and descriptions of Corporate Social Responsibility (CSR); elaborate upon development of CSR in India; study the theoretical concepts expounded by various researchers and study the deployment of current CSR practices in India. This paper examines how India’s top 500 companies view, and conduct their CSR, identifies key CSR practices and maps these against Global Reporting Initiative standards. Design/methodology/approach -It is a cross sectional study which is exploratory in nature. It involved secondary data collection and use of content analysis technique to assess CSR practices of companies operating in India. Findings -The main findings of the study are that CSR is now presented as a comprehensive business strategy, arising mainly from performance considerations and stakeholder pressure. Companies consider their interaction with stakeholders and impact of its business on society as significant issues. CSR policies vary with turnover and profit. The study suggests that business and CSR strategy appear to be on a convergent path, towards business and CSR integration across the company. Out of the top 500 companies...
Words: 7834 - Pages: 32
...Corporate and Social Responsibility Author’s Name Institutional Affiliation The idea of Corporate Social Responsibility is becoming popular and is meeting support worldwide in recent decades. By Corporate Social Responsibility (CSR) we understand a set of long-term strategies, actions and policies that aim at contributing to the society and environment where the company is operating. The companies have a lot of power, in fact. It is especially obvious when we talk about huge multinational corporations as the effect of their activity can be easily noticed and felt by many people all over the world. To outweigh somehow the negative impact that business might have on the environment and communities, the notion of CSR was introduced. Logically, if the companies can have direct or indirect harmful influence on the surrounding world, that means, that they can also use their power and resources to do something useful for the society. Generally, CSR is a set of measures, not required by law that companies voluntarily implement in order to compensate their potentially harmful impact or to provide additional benefits to the community, thus adding value to the company name or the brands of the company. The gradual development of CSR frame and its acceptance by the people resulted in the spread of this concept and introducing it in a business realm as a normal practice. It is no surprise that now days all the multinational corporations have been already implementing the Corporate...
Words: 4373 - Pages: 18
...ASOCIO Policy Paper CORPORATE SOCIAL RESPONSIBILITY Date: June 2004 Table of Contents 1 CORPORATE SOCIAL RESPONSIBILITY ........................................................... 2 1.1 What is corporate social responsibility? ........................................................ 2 1.2 Asia Pacific Perspective ................................................................................ 2 1.3 Corporate Social Responsibility: Unlocking the value................................... 3 1.4 World Economic Forum & CSR ..................................................................... 3 1.5 Case Studies ................................................................................................. 4 1.6 Should ASOCIO have a role? ....................................................................... 5 CORPORATE SOCIAL RESPONSIBILITY ASOCIO Policy Paper June 2004 1 CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility (CSR) is becoming an increasingly important activity to businesses nationally and internationally. As globalisation accelerates and large corporations serve as global providers, these corporations have progressively recognised the benefits of providing CSR programs in their various locations. CSR activities are now being undertaken throughout the globe. 1.1 What is corporate social responsibility? The term is often used interchangeably for other terms such as Corporate Citizenship and is also linked to the concept of Triple...
Words: 1624 - Pages: 7
...Corporate Social Responsibility An Implementation Guide for Business Paul Hohnen, Author Jason Potts, Editor Corporate Social Responsibility An Implementation Guide for Business Paul Hohnen, Author Jason Potts, Editor ii Corporate Social Responsibility: An Implementation Guide for Business © 2007, International Institute for Sustainable Development The International Institute for Sustainable Development contributes to sustainable development by advancing policy recommendations on international trade and investment, economic policy, climate change and energy, measurement and assessment, and sustainable natural resources management. Through the Internet, we report on international negotiations and share knowledge gained through collaborative projects with global partners, resulting in more rigorous research, capacity building in developing countries and better dialogue between North and South. IISD’s vision is better living for all—sustainably; its mission is to champion innovation, enabling societies to live sustainably. IISD is registered as a charitable organization in Canada and has 501(c)(3) status in the United States. IISD receives core operating support from the Government of Canada, provided through the Canadian International Development Agency (CIDA), the International Development Research Centre (IDRC) and Environment Canada; and from the Province of Manitoba. The Institute receives project funding from numerous governments inside and outside Canada,...
Words: 41123 - Pages: 165
...TruNet Telecom Inc and Corporate Social Responsibility Introduction The World Business Council for Sustainable Development defines Corporate Social Responsibility (CSR) as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce, their families and the local community and society at large. It is an attempt by organizations to take responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. CSR has become a strategic imperative for corporations world-wide as the pressure to play a more active role in the social and environmental impacts of their business grows. The most successful CSR programs in the future will be those that integrate their social and environmental goals into their core business function. They will implement many levels of CSR activity, from fundraising and employee donations, to community involvement through volunteering, and environmental improvement of their business processes (TVF, 2004). There are many arenas a company can consider when developing a strategy for corporate social responsibility. The strategy I am putting forth for TruNet Telecom will focus on four areas: environmental, ethics, sustainability, and legal. The following pages will discuss what the company is currently doing to fulfill these areas as well as make recommendations...
Words: 2114 - Pages: 9
...Introduction Apple dedicates its social corporate responsibilities in regards to a plethora of policies and governance in regards to: labor practices that builds the dynamics of employment and labor relations, employee benefits and workplace safety; supply chain management, strategic management regarding customer, legal compliance Apple defines the employment governance structure in the Supplier Code of Conduct and Ethics covering labor and human rights, health and safety, the environment, and ethics and management systems. Apple obliges its suppliers to respect the human rights of its workers, to inform the workers of their rights, and to treat them with dignity and respect. Apple requires from its suppliers that they prevent discrimination, involuntary and underage labor, excessive working hours and that they pay workers with wages and benefits in accordance with the applicable laws and regulations. Apple implemented and enforced a strict Suppliers Code of Conduct to regulates and aligns suppliers internal operations; Apple have created a uniformed standard aimed at ensuring that suppliers maintains the same level of principles and value that its holds dear and true across it 18 final assembly facilities, over 764 suppliers, components manufacturers and those that represents at least 97% of its raw material sourcing and procurement worldwide. Apple states that the company “conducts business ethically, honestly, and in full compliance with all laws and regulations....
Words: 2740 - Pages: 11
...Corporate social responsibility statements are effective ways of ensuring multi-national companies act ethically. Discuss For the past few years there has been lots of discussion about Corporate Social Responsibility. Most of the multinational companies issue every year a report on their practices. They try to get involved into communities, fight the poverty in the third world countries and donate millions of ponds every year to charities to as they say “build the better future”. But are their corporate social responsibility statements effective ways of ensuring that multinational entities act ethically? From my point of viewview, CSR statements do not ensure that practices of companies obey the rules of business ethics and I am going to present a few arguments for. Corporate Social Responsibility is fairly recent termterm and maybe that is why there is no consistent definition for it. Most multinational companies use different terms in their reports, for example Shell defines it as ‘sustainable development’, Ford uses the phrase ‘connecting with society’, Diageo prefers the termterm ‘corporate citizenship’. All these expressions, although they have different meanings, are related to Corporate Social Responsibility but because of the proliferation of approaches, every company can put emphasis on something different, creating therefore complexity and confusion. What is more, the socially responsible company not only complies with minimum requirements of the law, but goes...
Words: 1078 - Pages: 5
