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Recent Trends : CSR and Green Management. Chapter 11. Corporate Social Responsibility. A way companies manage the business processes to produce an overall positive impact on the society
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Recent Trends : CSR and Green Management Chapter 11
Corporate Social Responsibility • A way companies manage the business processes to produce an overall positive impact on the society • A commitment to improve community well being through discretionary business practices and contributions of corporate businesses
Need for CSR • Iron law of responsibility • Contented employees • Contented customers • Reduction in cost • Well organized use of resources and power • Long term future for the business • Positive public image • Avoiding Government Interference
Strategies for implementing CSR • Mission , Vision and Values statements • Planned action adhering to actual performance • Management Structures • Long term strategic planning • Overall accountability • Employee Recognition and Rewards • Education and Training • CSR Reporting
Green Management • Also called Sustainable business and green business • A concept where the organization has least negative effect on the global or local environment, community, society or economy • The business that makes all efforts to meet the Triple Bottom Line (TBL)
TBL(Profit, People, Planet) • Business success is not only defined by monetary gain but also by the impact an organization’s activities have on society as a whole. • Strong profitability, Vibrant Communities, Healthy environment • Sustainability includes • Social advancement • Safeguarding natural environment • Cautious use of natural resources • Balanced and increasing levels of economic growth and employment
