What is CSR?

Society and Business are the Two Pillars of an Economic

Activity.
While the Business draws inputs from Environment and
Society, it converts them into either Semi Finished Goods or
Finished Goods and meets the needs of Consumers/Customers
and makes profits to sustain themselves in the Business. It is
purely an Exchange Process.
But Business is also a part of Society.
Besides this Exchange Process, the Business, Corporate in
particular, also feels obliged towards its Environment and
Society wherein it exists and shows a concern and a sense of
belongingness towards them. Hence it takes such actions as
are Consumer/Societal Friendly or Environmental Friendly.
Besides investment activities, it spends a part of its funds on
such activities. This is called Corporate Social Responsibility
(CSR).

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This shows that Corporates have some
concern or responsibility towards its
Society and Environment to discharge.
It is also called Corporate Conscience,
Corporate Citizenship, Social
Performance, or Sustainable
Responsible Business/ Responsible
Business).
It is a form of Corporate
Self Regulation integrated into a
Business Model.

Types of CSR

Environmental Sustainability:

Areas of Environmental Sustainability include:

- Recycling Waste Management,
- Recycling Water Management,
- Using Renewable Energy Sources,
- Utilizing Reusable Resources,
- Creating 'Greener' Supply Chains,
- Using Digital Technology instead of Hard Copies,
- Developing buildings according to
Leadership in Energy and Environmental Design
(LEED) standards, etc.
- Rain Water Harvesting;
- Solar Power Energy
There is a Business Sector dedicated specifically to Environmental
Sustainability consulting for businesses of any size to utilize. The highest
ranked Sustainability Consulting firm is Ernst & Young

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Community Involvement:

This can include raising money for:

- Local Charities,
- Supporting Community Volunteerism
(Cleanliness and Sanitation Drives),
- Sponsoring Local Events,
- Employing people from a community,
Supporting a Community's Economic Growth,
Engaging in Fair Trade Practices, etc.
Starbucks is an example of a company that focuses on
community involvement and engagement; since these programs
began the company has seen higher profits and greater
employee engagement.

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Ethical Marketing Practices:
- Companies that ethically market to
consumers are placing a higher value on their
customers and respecting them as people
who are ends in themselves. They do not try
to manipulate or falsely advertise to potential
consumers. This is important for companies
that want to be viewed as ethical.

Other Examples:
One well-known example of Corporate Social
Responsibility is Ben and Jerry's Ice Cream, which
uses only fair trade ingredients and developed a
Dairy Farm Sustainability Program in its home
state of Vermont.
Starbucks has also been publically lauded for it
Corporate Social Responsibility efforts. The coffee
giant created its C.A.F.E. Practices guidelines,
which are designed to ensure the company is
sourcing sustainably grown and processed coffee
by evaluating the economic, social and
environmental aspects of coffee production.

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Tom's Shoes is another notable example of a company
that has social responsibility at its core. The shoe
company donates one pair of shoes to a child in need for
every pair purchased.
Infosys, as a matter of Policy, hiring Induction Level
Employees from B and C Class cities or Rural Areas
in order to uplift them economically.
Cancer/Polio/ Eradicating, Breast Feeding/Tree Plantation
Drives Campaigns;
Pollution Awareness Programmes, Anti Child
Labour/Abuse Programmes;
Organizing Blood Donation Camps;
Marathons organized with a theme.

Thank you