ASSIGNMENT OF

CORPORATE SOCIAL RESPONSIBILITY

SUBMITTED TO SUBMITTED BY
AKHILESH SIR SIMRAN SHILVANT
(HEAD OF 190226
MBA department) MBA 2nd year
Question1. How CSR leads to strong branding ? explain.
Answer : Customers build the brand equity of a socially responsible company
by enhancing its future profits and goodwill. Therefore, CSR activities are
modes for companies to increase their reputation, and thus affecting the brand
equity as a result.
When you bring up the idea of CSR in a room full of business executives, you’re
bound to get a variety of responses. Some will reveal that they actually know
very little about it, while others will go on a spiel about all of the wonderful
things their company is doing to better society. You’ll also have those who are
skeptical about the return on investment in CSR.
Corporate Social Responsibility is an ethical management concept where
companies aim to integrate social, economic and environmental concerns
along with the consideration of human rights into their business operations.”
This definition is particularly relevant because it touches on just how far-
reaching a CSR program can be. It’s not just about partnering with an NPO or
sponsoring a local charity. It’s about creating tangible change – socially,
economically, and environmentally.

Question 2. Explain sustainability reporting and its significance.

Answer : Sustainability reporting enables organizations to consider their
impacts on a wide range of sustainability issues. This enables them to be more
transparent about the risks and opportunities they face.
Sustainability reporting is the key platform for communicating sustainability
performance and impacts. A sustainability report in its basic form is a report
about an organization’s environmental and social performance.
To make this reporting be as useful as possible for managers, executives,
analysts, shareholders and stakeholders. A unified standard that allows reports
to be quickly assessed, fairly judged and simply compared is a critical asset. As
firms worldwide have embraced sustainability reporting, the most widely
adopted framework has been the Global Reporting Initiative (GRI)
Sustainability Reporting Framework. It can be considered as synonymous with
other terms for non-financial reporting; triple bottom line reporting and
corporate social responsibility (CSR) reporting.
Building and maintaining trust in businesses and governments is fundamental
to achieving a sustainable economy and world. Every day, decisions are made
by businesses and governments which have direct impacts on their
stakeholders, such as financial institutions, labor organizations, civil society and
citizens, and the level of trust they have with them.
These decisions are rarely based on financial information alone. They are
based on an assessment of risk and opportunity using information on a wide
variety of immediate and future issues.
Significances
CSR reports are important because they allow companies to estimate the
impact their operations have on the environment, society, and the economy.
Through the (supposedly) detailed and meaningful data collected (or simply
gathered) for the sustainability report, companies have a chance to improve
their operations and to reduce operational costs.
Not only do they become better prepared to optimize and reduce their energy
consumption; as a result of reviewing their waste cycles product innovation
strategies or circular economy opportunities can be found.
At the same time, collecting this data requires joint efforts from different
departments. As a result of the hype that’s created, employees often end up
becoming more conscious the company is focusing on CSR and sustainability,
which leaves them proud – increasing employee retention and decreasing
turnover (and its costs). It’s good news for employer branding.

Question3. What is corporate governance ? explain its significance

in the highly competitive world. How adherence to corporate
governance leads to sustainability in the market.
Answer: Corporate governance is the system of rules, practices and processes
by which a company is directed and controlled.
Corporate Governance refers to the way in which companies are governed and
to what purpose. It identifies who has power and accountability, and who
makes decisions. It is, in essence, a toolkit that enables management and the
board to deal more effectively with the challenges of running a company.
Corporate governance ensures that businesses have appropriate decision-
making processes and controls in place so that the interests of all stakeholders
(shareholders, employees, suppliers, customers and the community) are
balanced.
Significance
Strong and effective corporate governance helps to cultivate a company
culture of integrity, leading to positive performance and a sustainable business
overall.
Essentially, it exists to increase the accountability of all individuals and teams
within your company, working to avoid mistakes before they can even occur.
When a company has solid corporate governance, it signals to the market that
the organization is well managed and that the interests of management are
aligned with external stakeholders. As a result, it can provide your company
with a strong competitive advantage.
It leads to sustainability in market
Corporations that recognize that their business impacts the environment
around them create an innate sense of accountability to their societies.
Sustainability takes into account a strong concern for the future. It’s in a
corporation’s best interest to be socially responsible and innovative because
it’s these things that ensure sustainability. The corporation and society will see
evidence of that impact now and in the future.
Corporations are also taking a look at how they can incorporate sustainability
into their strategic planning. In taking this approach, companies need to take
four key aspects into account. These key aspects hold equal importance.

Societal influence. This refers to how society impacts the corporation, including
the influence on stakeholders.
Environmental impact. This refers to the impact of the corporation on the
geophysical environment, such as water waste, paper waste and energy waste.
Organizational culture. This refers to the relationship between the corporation,
including its managers, and its internal stakeholders, particularly employees,
and all that those relationships entail.
Finance. This refers to the impact of the corporation’s financial return in
relation to the potential for risk and the level of risk.

Question4. Adherence to ecology is a mandate to sustainability.

Discuss with examples
Answer: Ecological sustainability means that, based on a long-term
perspective, we conserve the productivity of the waters, the soil and the
ecosystem, and reduce our impact on the natural environment and people's
health to a level that the natural environment and humanity can handle.
Sustainability improves the quality of our lives, protects our ecosystem and
preserves natural resources for future generations. Going green and
sustainable is not only beneficial for the company; it also maximizes the
benefits from an environmental focus in the long-term.
An environmental impact assessment (EIA) is a planning process that is used to
help prevent environmental problems. Environmental impact assessments do
this by identifying and evaluating the potential consequences that a proposed
development may have for environmental quality. Because it can consider
ecological, physical-chemical, and other environmental effects, as well as
socio-economic consequences, an EIA is a highly multidisciplinary and
interdisciplinary activity.
An EIA may be conducted to examine various kinds of activities, or planned
developments, that could affect environmental quality, such as the following:
an individual project, such as a proposal to construct an airport, dam, highway,
incinerator, mine, or power plant
an integrated scheme, such as a proposal to develop an industrial park, a pulp
or lumber mill with its attendant wood-supply and forest-management plans,
or other complex developments that involve numerous projectsa
governmental policy that carries a risk of substantially affecting the
environment
EXAMPLE
EIAs have been conducted in all regions of Canada, examining projects that
varied widely in both scale and potential effects. Each of these unique cases is
instructive, in the sense of illustrating the environmental implications of
development projects and the role played by impact assessment. In the
following sections, we briefly examine selected elements of some
environmental impact assessments in Canada.