Implementing Corporate Social Responsibility

This book is a compilation of Corporate Social Responsibility (CSR) theory and practices, with special reference to the Indian context. Over the last few decades, which have seen the onset of globalization, emergence of the industrial sector and an increased focus on community development, much attention has been focused on the role of corporations towards developing those societies where their operations are based. The introduction and evolution of CSR theories and practice in the developed countries has given CSR theorists and practitioners the guidance to appropriately place and implement CSR initiatives to help develop their role in the developed societies. However, while ample literature exists on such CSR practices, little has been done to aid the development of CSR in developing countries. Characterized by peculiar economic, political and social settings, the developing world needed its own blueprint for how CSR works and how it could best succeed. The need for doing is especially pertinent to a country like India, which is presently at a very crucial threshold, economically, politically and socially. Given the need to contextualize CSR theory and practice to the developing context, several CSR theories and practices have been explored in this book, which will provide readers with a thorough understanding of CSR and its successful implementation.

With business under unprecedented pressure from a range of stakeholders to engage in corporate social responsibility (CSR), those working in dirty industries, developing countries and the extractive sector are finding themselves exposed to great strategic risks. Many of these companies are endeavouring to practise CSR and sustainability, but lack the knowledge to do so convincingly. Much of what has been published to date tells companies they must "do" CSR, without explaining how best to implement CSR-related policies and why this is very much in the corporate interest. Buried Treasure sets out in a series of case studies from different industries around the world a clear demonstration of how it is possible to create "shared value" for companies, communities and other stakeholders by putting CSR at the core of the business model. In implementing CSR, companies need to look beyond philanthropy, delving deeper to find the "buried treasure" of shared value creation. This is much more than finding the simple "win–win" solutions. It is about companies engaging seriously in the challenges they face in their operations and finding competitive advantage from working with stakeholders to solve these common problems. This is not easy - but where companies have done it well they have found new corporate opportunities and enhanced brand value. Buried Treasure presents a series of steps, each accompanied by an in-depth case study, to demonstrate how different companies have managed to uncover the value of CSR. They include: Anglo-American's "Zimele" programme of enterprise development in its coal and platinum mining areas in South Africa; Montana Exploradora, showing how community co-monitoring of the environment has helped build trust for a gold mine in Guatemala; Gildan, a leading sportswear manufacturer, demonstrating how garment manufacture in Honduras created meaningful local opportunities; Scandic Hotels, which has used environmental stewardship and "omtanke" to create comparative advantage in a competitive industry; and Turner Broadcasting, using corporate core competences in partnership with an NGO to leverage staff skills, enhancing public perception and staff retention. This short and accessible book will be an invaluable aid to managers and students searching for clear proof of the advantages of corporate social responsibility for business and its many stakeholders and for guidance in how to action best-practice policies.

Corporate Social Responsibility (CSR) often emerges at the boundary of the business enterprise, expressed in changing relations with stakeholders and society. This book explores the theoretical and practical aspects of implementing CSR within organizations. It captures implementation perspectives and unravels consequences of implementing CSR.

Corporate Social Responsibility (CSR) often emerges at the boundary of the business enterprise, expressed in changing relations with stakeholders and society. This book explores the theoretical and practical aspects of implementing CSR within organizations. It captures implementation perspectives and unravels consequences of implementing CSR.

Though there is no dearth of literature on CSR, it is more skewed towards theoretical models. The current book mainly aims at fulfilling two long felt needs – providing sufficient depth for an understanding of various facets of CSR and serving as a blue print in the implementation of CSR. The book adopts ‘handholding and guiding’ approach in helping the student/practitioner in various steps involved in practicing the CSR. It also meant to serve as a guide for corporate houses, corporate managers, corporate staff and field staff involved in planning, execution, monitoring and evaluation of different CSR initiatives. Anecdotes, cartoons and diagrams provided help easy understanding of different concepts, models and practices of CSR. Tables, graphs and diagrams drawn from field experiences serve as blueprints for use in implementing CSR and in preparing the reports. It also presents with tools that can be used in conducting baseline survey, impact assessment, community needs assessment, social satisfaction survey and accounting of CSR

This book addresses the topic of the business case for Corporate Social Responsibility (CSR) and its importance for business success, on one hand, and for the further diffusion of CSR practices, on the other. It discusses the business case for CSR in the chemical industry because this sector is relevant for economic development, and for its constant innovativeness. Moreover, the chemical industry has a long experience in CSR and sustainability strategies, and it offers many best practices to discuss. The book highlights how CSR practices can be correctly implemented in order to obtain positive financial corporate performance as well as to improve relationship with stakeholders. Factors influencing the effectiveness and efficiency of CSR will be described too, with particular focus on the effects of the different organizational behaviors. Why many CSR strategies fail to support business development, and the development of a positive relationship between business and society, is examined by arguing that contextual factors, corporate organization, and the different dimensions and aspects of CSR directly affect CSR performance. For instance, this book reveals that proper environmental initiatives implemented by chemical companies effectively improve economic results by allowing an efficient allocation of resources and assets. This book may have a broad target audience including students of business schools, but also professors, researchers, and business practitioners. Indeed, the book aims to support and guide entrepreneurs, managers and business advisors to design, plan, and implement successful CSR strategies. The latter may effectively improve corporate performance, financial and non financial, such as the image and reputation, which are reflected in positive economic results in the long term. In particular, the book highlights that developing CSR initiatives addressing specific stakeholder concerns improves corporate trust, and then, the long-term financial performance.

Corporate Social Responsibility: A Study of CSR Practices in Indian Industry takes a close look at the CSR scenario in India. While throwing light on the various issues faced by companies and their stakeholders during the implementation of CSR, it also offers strategies and recommendations for improved synergy among the stakeholders and a more effective CSR. The book is based on the authors’ primary research study and is illustrated with various company examples and primary surveys on how CSR implementation varies from organization to organization, including family-based firms, public sector enterprises, multinational corporations and professional enterprises. Sectoral differences in CSR implementation have also been covered, as well as the important issue of CSR reporting practices. With CSR and sustainability as emerging domains, the book will prove to be invaluable for researchers, academicians, students, practitioners and public policy makers.

Corporate Social Responsibility (CSR) often emerges at the boundary of the business enterprise, expressed in changing relations with stakeholders and society. This book explores the theoretical and practical aspects of implementing CSR within organizations. It captures implementation perspectives and unravels consequences of implementing CSR.