Presentation on theme: "Corporate Social Responsibility and Corporate Governance Presented by DR. SATISH NARINGREKAR (M.Com, DHE,DCD,DMM, LLB, M Phil, M.Ed, PGDME, MBA, PHD) (Raheja."— Presentation transcript:
Corporate Social Responsibility and Corporate Governance Presented by DR. SATISH NARINGREKAR (M.Com, DHE,DCD,DMM, LLB, M Phil, M.Ed, PGDME, MBA, PHD) (Raheja college of Arts & commerce, Santacruz Mumbai)
Introduction Corporate Social Responsibility (CSR) is generally used to describe business’s efforts to achieve sustainable outcomes by committing to good business practices and standards. Corporate governance is the set of processes, customs, policies, laws, and institutions affecting the way a corporation or company is directed, administered or controlled.processes customspolicieslawsinstitutionscorporationcompany
Need of the study CSR is increasingly being seen as an important and integral part of normal business operations. So there is need to see how does responsible business help to enhance business operations, in achieving a sustainable outcome?
Objectives To study the relationship of corporate social responsibility and corporate governance To study the impact of corporate social responsibility on leadership in CG To study the impact of globalization on CSR and CG To study the impact of CSR on stake holder
Hypothesis In today's global world, corporate social responsibility (CSR) is increasing public demand for greater transparency from multinational companies. CSR is a new and growing financial risk factor.
Research Methodology Primary data- Various officers of top level management from corporate field have been interviewed and collected the required data. Secondary data - Various books, journals etc. refer to gather the information and the analysis made therefrom to get the findings.
Data Analysis 1.Link One view was expressed that governance practices such as risk management, diversity, disclosure, and compensation are enablers of CSR perform.
2.Creation of Stake holders value. Within a values-based governance framework, stakeholder relations are a consideration under the principled question that addresses the impact of a company’s operations on society and the environment.
CSR may be based within the human resources, business development or public relations departments of an organisation,.human resourcesbusiness developmentpublic relations Increasingly, corporations are motivated to become more socially responsible because their most important stakeholders expect them to understand and address the social and community issues that are relevant to them.
In today's global world, corporate social responsibility (CSR) is increasing public demand for greater transparency from multinational companies. CSR is a new and growing financial risk factor. If it is mismanaged, a firm's corporate reputation can be badly damaged and a direct negative impact on its business and bottom-line may result.
Finding Good governance is primarily about values rather than rules. If good governance flows from values, it is important to state them and live them. CSR is an external expression of those values. Corporate governance is going beyond the traditional core governance functions to incorporate the values dimension.
Conclusion. Ethical or values-based governance considers such issues as the kind of product and service a company produces, how it is produced and the social and environmental impacts of production. As these boundaries are renegotiated, CSR is driven into the boardroom. For the most part, interviewees predict a modest but increasing convergence between governance and CSR at either or both the values and risk levels.
Suggestion/Recommendations Companies should realize their efforts to build ethical value through mechanical and legalistic remedies do not get them where they need to go — do not help them build brand loyalty and reputational capital Companies should extend their corporate vision to consider others affected by what they do and the decisions they make.
BIBLIOGRAPHY Becht, Marco, Patrick Bolton, Ailsa Röell, "Corporate Governance and Control" (October 2002; updated August 2004). Brickley, James A., William S. Klug and Jerold L. Zimmerman, Managerial Economics & Organizational Architecture, ISBN Colley, J., Doyle, J., Logan, G., Stettinius, W., What is Corporate Governance ? (McGraw-Hill, December 2004) ISBN Denis, D.K. and J.J. McConnell (2003), International Corporate Governance. Journal of Financial and Quantitative Analysis Garrett, Allison, "Themes and Variations: The Convergence of Corporate Governance Practices in Major World Markets," Hovey, M. and T. Naughton (2007), A Survey of Enterprise Reforms in China: The Way Forward. Economic Systems, La Porta, R., F. Lopez-De-Silanes, and A. Shleifer (1999), Corporate Ownership around the World. The Journal of Finance, Lekatis, George IT and Information Security after Sarbanes-Oxley Monks, Robert A.G. and Minow, Nell, Corporate Governance (Blackwell 2004) ISBN