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Csr Policy Essay

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1. Introduction:- According to Archie Carroll 1999, “CSR encompasses the economical, legal, ethical and discretionary (Philanthropic) expectations that the society has of organizations at a given pint in time”. CSR means giving back the society. An organization cannot work isolate; it works in the society and for the society. CSR is not charity but it is a obligation to give back to the society. The Strategic Advisory group on CSR of International Organizations for Standardization (ISO), describe CSR as “a balance approach for organizations to address economic, social and environmental issues in a way that aims to benefit people, community and society.” . 2. Objective of Study:- 1. To study CSR VGN-Voluntary Guidelines Norms as per Ministry of Corporate Affairs.. 2. To …show more content…

Theme of the paper:- To study the “A study of Corporate Social Responsibilities Practices in Private Sector Banks “ 6. CSR VGN- Voluntary Guidelines Norms as per Ministry of Corporate Affairs:- According to the NGN as per Ministry of Corporate Affairs, each business entity should formulate a CSR policy to guide its strategic planning and provide a roadmap for its CSR initiatives, which should be an integral part of overall business policy and should be approved by the Board. The core elements of CSR policy in brief are as follows:- 1. Care for all stakeholders: - The companies should respect the interest of all the stakeholders, including shareholders, employees, customers, suppliers, society, etc and create value for all. 2. Ethical functioning: - Governance system should be ethical, Transparency and accountability should be maintain by all companies. They should not engaged in the business practices that are abusive, unfair, corrupt or anti-competitive. 3. Respect for worker’s rights and welfare:- Companies should provide a healthy, safe and hygienic working environment to all employees. They should provide employee training and development programme on an equal and non-discrimination

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