Leading Responsibly – Strategic CSR for Corporate Advantage
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Firms of the twenty first century are under increasing pressure bring the social and environmental performance of the firm in line with the economic performance of the firm. This involves moving beyond conventional regulatory equirements and philanthropic activities to address non-business problems. This approach to dealing with problems that may or may not have a short term implication for financial performance of the firm stems from the realization that a well directed CSR strategy can have significant positive impacts for the firms performance in the long run. Such advantages include an increase inreputational capital and brand equity, improved ability to manage regulatory agencies and other key stakeholders, increased market acceptance, access to new markets and possibly significant reductions in business risks including stakeholder, regulatory or market place sanctions.
The regulatory context for CSR in India too has changed in the recent past with the introduction of the Companies Bill ..both markets and regulators have begun to demand greater responsibility and proactiveness from corporates. As Indian businesses grow in size, stature and geographical dispersion, there a strong imperative to build a meaningful CSR strategy to both to realize the advantages as well as manage the risks associated with these. In effect businesses of the twenty first century will need to carefully examine the social and environmental outcomes of their activities while simultaneously maintaining financial performance. While there has been some debate on the forms and scope of CSR as reflected in the creation of multiple terminologies, including corporate citizenship, sustainability, and specific approaches within this such as BoP or inclusive markets approaches.
CSR for strategic Advantage explores the emerging relationships between social responsibility, non-market environment, strategy and competitive advantage. The course aims to help the participants develop their own personal approach for identifying and solving strategic environmental/social issues facing businesses. The programme is organized over three days, covering significant aspects of CSR. Using a mix of cases, readings, lectures, and videos we will attempt to enhance our understanding of the alternative models of conceptualizing and implementing CSR strategies. Some key elements of the coverage will include.
Building the Business Case for CSR
- Legal and voluntary frameworks for CSR in the Indian context
- Non-market environment and its influence on business performance
- CSR as a source of competitive advantage
- Stakeholder analysis andissues management
- Integrating CSR initiatives across the supply chain
- Integrating CSR metrics into organizational performance management systems
- Embedding the CSR culture within the organization
- Aligning organizational strategy with the CSR strategy and priorities
- Aligning CSR and HR strategies
- Aligning CSR and business strategies
- Managing Risk and decision making
- Best practices in CSR reporting
- Industry Best practices
Next Generation CSR Strategies
- Emerging challenges in CSR and ethical dilemmas
- New approaches to business and CSR (BOP, inclusive Business models etc.)
At the conclusion of the programme the participants would have developed the ability to identify key issues, prioritize them, measure impacts and reports on them both internally as well as externally.