Principles of Corporate Social Responsibility (CSR) by Aashma Adhikari
Explore the moral principles of CSR including consumer protection, environmental sustainability, economic concerns, legal compliance, ethical decision-making, and societal contributions as outlined by Aashma Adhikari. These principles emphasize the importance of balancing profit with social responsibility.
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Presentation Transcript
Moral principles of CSR Submitted by : AashmaAdhikari
1. Consumer protection and satisfaction Consumers are the drivers of the CSR activities of the company Consumers should be protected against false information For example, a government may require businesses to disclose detailed information about products particularly in areas where safety or public health is an issue, such as food. Products supplied by company should meet the consumer expectation
2. Environmental protection Companies while creating profit should also be aware that they can contribute to sustainable managing their operations in such a way as to enhance economic growth and increase competitiveness while ensuring environmental protection. environment can be protected by manufacturing ecofriendly products, correct storage, use and disposal, using rawmaterials wisely, reducing wastage, reducing risk to soil air and water.
3. Economic Motive company needs to be primarily concerned with turning a profit. If a company does not make money, it won't last, employees will lose jobs and the company won't even be able to think about taking care of its social responsibilities. Before a company thinks about being a good corporate citizen, it first needs to make sure that it can be profitable.
4. Legal Motive company should obey the letter and the spirit of the law. businesses are expected to fulfill their economic goals within the framework of legal requirements imposed by local town councils, state legislator, and federal regulatory agencies. responsible organizations accept the rules as a social good and make good faith efforts to obey not just the letter but also the spirit of the limits.
5. Ethical Motive It is the responsibility to do the right thing even if its not written in law. Organization decision maker should act with equity, faireness, impartiality, respects the rights of individual Business should have an ability to recognize, interpret and act upon multiple principles and values according to the standards within a given field or context.
6. Discretionary Motive It is a responsibility "to contribute to society's projects even when they're independent of the particular business. It relates to self-directed and concerned efforts undertaken by an organization in order to contribute resources to community for a better quality of life and is to be differentiated from a legally imposed action. Resources may be contributed for social, educational, cultural and recreational purposes.
7. Transparency and accountability All acts are obvious or communicated to all concerned The reports of an organization should give clear, accurate and detailed information. Business should be able to answer for decisions and activities to the organizations governing bodies, legal authorities and more broadly its stakeholders
8. Respect for Human right Human rights are relevant to the economic, social and environmental aspects of corporate activity. For example, labour rights requiring companies to pay fair wages affect the economic aspect. Human rights such as the right to non- discrimination are relevant to the social aspect. And the environmental aspects of corporate activity might affect a range of human rights, such as the right to clean drinking water.
