Corporate Social Responsibility
CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.
A company’s stakeholders are all those who are influenced by and can influence a company’s decisions and action, both locally and globally. Business stakeholders include(but are not limited to) employees, suppliers, customer, community organizations, subsidiaries and affiliates, joint venture partners, local neighborhoods, investors, shareholders(or a sole owner in case it is sole proprietorship business) and most importantly environment.
Corporate social responsibility is not a charity work as understood by many. Corporate social responsibility can be classified in different heads as shown :
Here the overlapping area shows mutual benefits as against philanthropy model where one party gets benefited at the expense of other. So in the model called corporate social responsibility a partnership exists between companies, individual and NGOs for mutual benefits.
Existing E-CRM Models(cause related marketing)
The above mix is what is existing a present and the mix is very well ensuring that the blend of profit making, branding and social responsibility is being achieved by the companies. The under mentioned models are practiced by Indian Inc. at present.
Charity Portals are portal sites that list non profit organizations (NPOs) and encourage donations to those organizations listed. These sites may list an NPO on their site for no charge, or they may charge a small fee. Usually, they obtain revenue through the sale of advertising space.
Payment Service Providers are companies that setup a method for NPOs to conduct secure credit card transactions. Once a user decides to make a donation,
A company’s stakeholders are all those who are influenced by and can influence a company’s decisions and action, both locally and globally. Business stakeholders include(but are not limited to) employees, suppliers, customer, community organizations, subsidiaries and affiliates, joint venture partners, local neighborhoods, investors, shareholders(or a sole owner in case it is sole proprietorship business) and most importantly environment.
Corporate social responsibility is not a charity work as understood by many. Corporate social responsibility can be classified in different heads as shown :
Here the overlapping area shows mutual benefits as against philanthropy model where one party gets benefited at the expense of other. So in the model called corporate social responsibility a partnership exists between companies, individual and NGOs for mutual benefits.
Existing E-CRM Models(cause related marketing)
The above mix is what is existing a present and the mix is very well ensuring that the blend of profit making, branding and social responsibility is being achieved by the companies. The under mentioned models are practiced by Indian Inc. at present.
Charity Portals are portal sites that list non profit organizations (NPOs) and encourage donations to those organizations listed. These sites may list an NPO on their site for no charge, or they may charge a small fee. Usually, they obtain revenue through the sale of advertising space.
Payment Service Providers are companies that setup a method for NPOs to conduct secure credit card transactions. Once a user decides to make a donation,
Bibliography: www.tatasteel.com 100th Annual report of the company mentioned on the site. Printed issuance by TATA steel on Environment concern.