Corporate Social Responsibility:What does it mean?

Human Resources » Corporate Social Responsibility

	Message From: aswathikurup	Total Posts: 5	Join Date: 10/11/2009
Rank: Beginner	Post Date: 11/11/2009 07:36:18	Points: 25	Location: India

"More and more companies are accepting corporate citizenship as a new strategic and managerial purpose requiring their attention. Once seen as a purely charitable activity--a source of general goodwill, with no bottom-line consequence--citizenship is moving from the margins of concern to the center at leading companies."

Today, there are many references to corporate social responsibility (CSR), sometimes referred to as corporate citizenship, in our workplaces, in the media, in the government, in our communities. While there is no agreed-upon definition, the World Business Council for Sustainable Development defines CSR as the business commitment and contribution to the quality of life of employees, their families and the local community and society overall to support sustainable economic development. Simply put, the business case for CSR--establishing a positive company reputation and brand in the public eye through good work that yields a competitive edge while at the same time contributing to others--demands that organizations shift from solely focusing on making a profit to including financial, environmental and social responsibility in their core business strategies. Despite what the phrase corporate social responsibility suggests, the concept is not restricted to corporations but rather is intended for most types of organizations, such as associations, labor unions, organizations that serve the community for scientific, educational, artistic, public health or charitable purposes, and governmental agencies.

aswathi

	Message From: gtr100	Total Posts: 3	Join Date: 10/11/2009
Rank: Beginner	Post Date: 18/11/2011 06:56:41	Points: 15	Location: India

CSR - Depend upon company to company, but in general company work for society on behalf of upcomming project. On the other hand, allocation of some portion of its profit for corporate social responsibility.

According to new proposal bill, which is finalizing the New Companies Bill, has accepted a parliamentary standing Committee's recommendation on the issue. The standing committe on finance headed by former finance minister has proposed that companies with a turnover of Rs. 1000 CR or net profit of 5 CR or more allot 2% of their net profit for the preceding three year on CSR.

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