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Prepared by :Vikas Viswajeet Bebarta Utkarsh Gupta Selina Sasmita

Corporate social responsibility is a management concept whereby company integrate social and environmental concerns in their business operation and interaction with their share holders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (Triple-Bottom-Line- Approach), while at the same time addressing the expectations of shareholders and stakeholders

World business council for suitable development. The European commission. Triple bottom line.
The phrase was first used in 1989 by John

Elkington, co-founder of a consultancy focused on sustainability. Sometimes referred to as "TBL", or "3BL.

Triple

bottom line simply stands for

PEOPLE PLANET PROFIT

PEOPLE :This is also known as Human Capital. It really just means treating your employees right, but furthermore also the community where your business operates. PLANET :This is Natural Capital. A business will strive to minimize its ecological impact in all areas - from sourcing raw materials, to production processes, to shipping and administration.

PROFIT :This is more about making a honest profit than raking a profit at any cost - it must be made in harmony with the other two principles of People and Planet.

The Importance of Triple Bottom Line :Triple Bottom Line is not an award, accreditation or a certification you can achieve it's an ongoing process that just helps a company keep on track towards running a greener business and demonstrates to the community at large they are working not just towards riches, but the greater common good - and that's what consumers are increasingly wanting to see these days.

1.Environmental Management : Today many companies have recognized the importance of proper environment management and have switched over from traditional end-of pipe solutions to the integration of environment management in overall management process of the Industry.

2. ECO EFFICIENCY :Eco-efficiency is a management philosophy which encourages business to search for environmental improvements that yield parallel economic benefits. It focuses on business opportunities and allows companies to become more environmentally responsible and more profitable

Responsible sourcing, also referred to as supply chain responsibility, is a voluntary commitment by companies to take into account social and environmental considerations when managing their relationships with suppliers

Stakeholder engagement is the process by which a firm's stakeholders engage in dialog to improve a firm's decision-making and accountability toward corporate social responsibility (CSR) and achieving the triple bottom line.

The Labour Standards are devoted to advancing opportunities for women and men to obtain decent and productive work in conditions of freedom, equity, security and human dignity.

Employee relations is a common title for the industrial relations function within personnel management and is also sometimes used as an alternative label for the academic field of industrial relations.

The National Academy of Public Administration defines the term as The fair, just and equitable management of all institutions serving the public directly or by contract; the fair, just and equitable distribution of public services and implementation of public policy; and the commitment to promote fairness, justice, and equity in the formation of public policy.

Gender balance can be referred to as the goal of having the same number of women and men staff in the different levels of the organizational structure. Gender balance refers to a balanced composition of women and men in order to bring equality to the current male-dominated international institutions.

Governments Have Committed to Themselves to :establishing the goal of gender balance in governmental bodies and committees, as well as in public administrative entities, and in the judiciary. aim at gender balance in the lists of national candidates nominated for election or appointment to United Nations bodies , specialized agencies and other autonomous organizations of the United Nations system, particularly for posts at the senior level.

Human rights are rights inherent to all human beings, whatever our nationality, place of residence, sex, national or ethnic origin, colour, religion, language, or any other status. We are all equally entitled to our human rights without discrimination. These rights are all interrelated, interdependent and indivisible.

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.

What do Human Rights have to do with CSR :-

10. Goog Governance :-

The concept of "governance" is not new. It is as old as human civilization. Simply put "governance" means: the process of decision-making and the process by which decisions are implemented (or not implemented). Governance can be used in several contexts such as corporate governance, international governance, national governance and local governance.

CONSENSUS ORIENTED

ACCOUNTABLE

PARTICIPATORY

GOOD GOVERNANCE
FOLLOWS THE RULE OF LAW

TRANSPARENT

RESPONSIVE
EFFECTIVE AND EFFICIENT EQUITABLE AND INCLUSIVE

CHARACTERSTICS OF GOOD GOVERNANCE : PARTISIPATION :-

Participation by both men and women is a key cornerstone of good governance. Participation could be either direct or through legitimate intermediate institutions or representatives.
RULE OF LAW : Good governance requires fair legal frameworks

that are enforced impartially.

It also requires full protection of human rights, particularly those of minorities.

TRANSPARENCY :Transparency means that decisions taken and their enforcement are done in a manner that follows rules and regulations. It also means that information is freely available and directly accessible to those who will be affected by such decisions and their enforcement.
RESPONSIVENESS

:-

Good governance requires that institutions and processes try to serve all stakeholders within a reasonable timeframe.
CONSENSUS

There are several actors and as many view points in a given society. Good governance requires mediation of the different interests in society to reach a broad consensus in society on what is in the best interest of the whole community and how this can be achieved.

ORIENTED :-

EQUITY AND INCLUSIVENESS : A societys well being depends on ensuring that all its

members feel that they have a stake in it and do not feel excluded from the mainstream of society.

EFFECTIVE NESS AND EFFICIENCY :Good governance means that processes and institutions produce results that meet the needs of society while making the best use of resources at their disposal. The concept of efficiency in the context of good governance also covers the sustainable use of natural resources and the protection of the environment.

ACCONTIBILITY :-

Accountability is a key requirement of good governance. Not only governmental institutions but also the private sector and civil society organizations must be accountable to the public and to their institutional stakeholders. ANTI-CORRUPTION MEASURES :Corruption is inherently wrong. It is a misuse of power and position and has a disproportionate impact on the poor and disadvantaged. It undermines the integrity of all involved and damages the fabric of the organizations to which they belong.

THE

BUSINESS CASE :-

There are many reasons why it is in any company's business interest to ensure that it does not engage in corrupt practices. All companies, large and small, are vulnerable and the potential for damage to them is considerable. The following are some of the key reasons for avoiding involvement in corrupt practices:
LEGAL RISK The main aim of forming this is to maintain a good legal hold in the market so that there is no political risk to the organization. The enforcement of anti-corruption legislation internationally has hitherto been relatively poor, but this is slowly changing.

Reputational

Risk :-

Based on the experience of recent years, companies whose policies and practices fail to meet high ethical standards, or that take a relaxed attitude to compliance with laws, are exposed to serious reputational risks.

Financial Cost :There is now clear evidence that in many countries corruption adds upwards of 10 per cent to the cost of doing business and that corruption adds as much as 25 per cent to the cost of public procurement. This undermines business performance and diverts public resources from legitimate sustainable development.

Known as Clean" and Repeat Demand :There is growing evidence that a company is less likely to be under pressure to pay bribes if it has not done so in the past. Once a bribe is paid, repeat demands are possible and the amounts demanded are likely to rise. For example, a business manager representing a large international company in China recently confirmed that despite pressures to do otherwise, his company did not accept any kinds of corruption: 'Zero tolerance is the only practical solution'.

Blackmail ,no Recourse and Security Risk :By engaging in corrupt practices, company managers expose themselves to blackmail. Consequently the security of staff, plant and other assets are put at risk.

The one who cheats will be cheated against


If a company engages in or tolerates corrupt practice, it will soon be widely known, both internally and externally. Unethical behavior erodes staff loyalty to the company and it can be difficult for staff to see why high standards should be applied within a company when it does not apply in the company's external relations. Internal trust and confidence is then eroded.

CONCLUSION :A properly implemented CSR concept can bring along a variety of competitive advantages, such as enhanced access to capital and markets increased sales and profits operational cost savings improved productivity and quality efficient human resource base improved brand image and reputation enhanced customer loyalty better decision making risk management processes

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