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Presented by Group No 1 [one] :
Parul Sharma 01
Akanksha Pande 11
Nishidha 21
Neha Roy 31
Devyani Kute 41
Neha Saxena 61
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Definitionsy Ethics is the code of moral principles and values that
governs the behavior of a person or group with respect
to what is right or wrong.y It sets standards as to what is good or bad in conduct
and decision making
y Ethics deals with internal values that are a part of
corporate culture and shapes decisions concerningsocial responsibility with respect to externalenvironment.
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y Law often represents an ethical minimum
y Ethics often represents a standard that exceeds thelegal minimum
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"Utilitarian Approach
"Individualism Approach
"Moral-Rights Approach
"Justice Approach
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Corporate social responsibility (CSR):An obligation, beyond that required by the lawand economics, for a firm to pursue long term
goals that are good for society . The continuing commitment by business tobehave ethically and contribute to economicdevelopment while improving the quality of lifeof the workforce and their families as well as that
of the local community and society at large.About how a company manages its businessprocess to produce an overall positive impact onsociety.
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Conducting business in an ethical way and in theinterests of the wider community
Responding positively to emerging societal prioritiesand expectations
A willingness to act ahead of regulatory confrontation
Balancing shareholder interests against the interests of
the wider community Being a good citizen in the community
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Corporate, Social, and Responsibility.
In broad terms, CSR relates to responsibilitiescorporations have towards society within which they
are based and operate, not denying the fact that thepurview of CSR goes much beyond this. CSR iscomprehended differently by different people.
A commitment to improve community well being throughdiscretionary business practices and contributions of
corporate resource
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CSR(corporate social responsibility) is a concept inwhich organizations consider the interests of society bytaking responsibility for the impact of their activities
on customers, suppliers, employees, shareholders,communities other stakeholders, future generation andon environment. The organizations voluntarily takingadvance steps to improve the quality of life foremployees and their families as well as for the localcommunity and society.
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In India, CSR has evolved to encompass employees,customers, stakeholders and susta inable development orcorporate citizensh ip . The spectrum of CSR includes anumber of areas as human rights, safety at work,consumer protection, climate protection and caring forthe environment, and sustainable management ofnatural resources. From the perspective of employees,CSR activities include providing health and safety
measures, preserving employee rights and discouragingdiscrimination at workplace. This helps in fostering ahealthy environment within the company.
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For example, after 1945, TATAimplemented socialwelfare provisions for its employees that have sincebecome the legislative norm. From the perspectives of
customers,C
RS activities may include commitment toproduct quality, fair pricing policies, and so.
TVS Electronicswas involved in CSR during theTsunami to provide relief measures to the victims.
They have also participated with the government toimprove sanitation in a village called Tiruvidenthai.Such initiatives will help in improving the conditionsof rural people.
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The multiple responsibilities of business
Economic
Responsibility
Legal
Responsibility
Social
Responsibility
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y an organizations obligation to maximize itspositive impact on stakeholders and to minimize itsnegative impact
y includes legal, ethical, economic, andphilanthropic (discretionary) dimensions
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y The first criteria of social responsibility is economicresponsibility
y The business institution is the basic economic unit ofsociety. Its responsibility is to produce the goods and
services that society wants and to maximize profits forits owners and shareholders.
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y refers to obeying governmental laws andregulations
y civil law: rights & duties of individuals andorganizations
y criminal law: prohibits specific actions and imposesfines and/or imprisonment as punishment for
breaking the law
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y behaviors and activities that are expected or prohibitedby organizational members, the community, andsociety (not codified into law)
y standards, norms, or expectations that reflect theconcern of major stakeholders
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y businesss contributions to society
y also called discretionary responsibility
y
purely voluntary and is guided by a companys desireto make social contribution not mandated byeconomics, laws or ethics
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The pros and cons of corporate
social responsibility
Arguments for corporate
social responsibilityArguments against corporate
social responsibility
Balances corporate power
with responsibility.Discourages governmentregulation.
Promotes long-term profitsfor business.
Responds to changingstakeholders demands.
Corrects social problemscaused by business.
Lowers economic
efficiency and profit.Imposes unequal costsamong competitors.
Imposes hidden costs passed onto stakeholders.
Requires social skills businessmay lack.
Places responsibility on businessrather than individuals.
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Two views of corporate social
responsibilityThe shareholder view
The only social responsibility of business is to create shareholderwealth. Corporate management cannot decide what is in the social interest. The costs of social responsibility which do not increase the value of
stock, will be passed on to consumers.
The multiple stakeholders view
All customers and employees are treated with dignity. Relationships with suppliers must be based on mutual trust.
Belief in fair economic competition. Business can contribute to social reform and honor human rights.
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CSR behaviour can benefit the firm in several
Ways:
y It aids the attraction and retention of staff
y It attracts green and ethical investmenty It attracts ethically conscious customers
y It can lead to a reduction in costs through re-cycling
y It differentiates the firm from its competitor and canbe a source of competitive advantage
y It can lead to increased profitability in the long run
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y There is clearly an overlap between CSR and business
ethicsy Both concepts concern values, objectives and decision
based on something than the pursuit of profits
y And socially responsible firms must act ethically
y The difference is that ethics concern individualactions which can be assessed as right or wrong byreference to moral principles.
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