Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance or sustainable responsible business) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. The goal of CSR is to embrace responsibility for the company’s actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Corporate sustainability is an evolution on more traditional phrases describing ethical corporate practice. Unlike the other phrases that focus on “added-on” policies, corporate sustainability describes business practices built around social and environmental considerations.
Today, CSR in India has gone beyond merely charity and donations, and is approached in a more organized and professional manner. It has become an integral part of the corporate strategy. Companies have CSR teams that devise specific policies, strategies and goals for their CSR programs and set aside budgets to support them.
Why should your company work towards a sustainable CSR policy?
- Improved company or brand image
- Cost savings
- Competitive advantage
- Improved employee satisfaction, morale or retention
- Product, service or market innovation
- Business model or process innovation
- New sources of revenue
- Effective risk management
- Enhanced stakeholder relations
How does CERE help make your company’s CSR policy sustainable?
CERE works at all levels with companies – sustainability vision, sustainability strategy development and project implementation and helps develop a policy that takes into account the following elements of a business:
- Internal Management
- Organizational Culture
- Employee Awareness
- Product/Service Features
- Greening Supply Chains
- Customer & Stakeholder Relations