Social Responsibility and Managerial Ethics | Management Optional Notes for UPSC PDF Download

Corporate Social Responsibility (CSR) 

• Definition by World Business Council:
  • CSR is like a promise made by businesses to always do the right thing.
  • It means companies should be good and fair while also helping the economy grow.
  • Businesses commit to making life better for their workers and their families.
  • They also pledge to improve the lives of people in the local community and the entire society.
• Main Idea of CSR:
  • CSR is about businesses being good citizens.
  • It's like a commitment to act in a way that benefits everyone.
  • Companies want to make a positive impact on their employees, their communities, and society in general.
• Key Points of CSR:
  • Businesses promise to be ethical, meaning they'll do what's right and fair.
  • They aim to help the economy grow while ensuring a good quality of life for their workers.
  • Workers and their families should experience positive changes, and the local community should benefit.
  • The overall goal is to contribute to making society a better place.
• In a Nutshell:
  • CSR is like a business promise to be good, fair, and helpful to everyone.
  • It's about making sure that as a company grows, it brings positive changes to the lives of its employees and the community around it.
  • In simple terms, it's businesses being responsible and making the world a better place.
• CSR Beyond Charity:
  • CSR is not just about giving money; it's now a vital part of a company's plan.
  • It's like saying, "Let's be responsible in how we do business, not just in giving away things."
• Important for Everyone:
  • Many people care about how a company behaves, not just customers.
  • Employees, owners, buyers, suppliers, and even the community and environment want businesses to be responsible.
• Accountability is Key:
  • Everyone expects companies to be accountable – meaning they should answer for what they do.
  • It's like saying, "Hey, show us that you're doing things right in your business."
• Business Strategy Matters:
  • How a company does its work and what people think about it is super important.
  • Companies need to think about how they're seen by everyone – their workers, customers, and the community.
• Big Deal for Companies:
  • For a company, it's not just about making money; it's about doing things in a way that makes everyone happy.
  • So, being responsible in business is now a big deal for companies.

India's Growth and Inclusive Strategy

• India's Impressive Growth:
  • India has been doing really well, ranking 2nd globally in growth for the past few years.
  • But to keep this going and make it last, we need a plan that includes everyone, especially considering the big differences between rich and poor.
• Inclusive Growth is the Goal:
  • We want growth that includes everyone, not just a few.
  • In simple terms, we want everyone to benefit from India's success, not just a small group of people.
• Corporate Role in Inclusive Growth:
  • Companies are a big part of India's growth story – they drive the progress.
  • Now, these companies understand they should do more to make sure everyone gets a fair share of the success.
• Government's Push for CSR:
  • The Indian government has already said that big companies must spend a certain percentage of their profit on things that help everyone.
  • It's like the government saying, "If you're making good money, you have to give back and help the community."
• Summary:
  • India is growing fast, and we want everyone to benefit.
  • Companies, with a nudge from the government, are stepping up to make sure their success helps everyone and reduces the gaps between rich and poor.

CSR VS CSV