CORPORATE RESPONSIBILITY TOWARDS CONSUMER STAKEHOLDERS By: Amit Kumar (B07005) Avadhut Kaluskar (B07011) Dhananjay Joshi (B07015) Indraneel Mukherjee (B07021)

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Presentation transcript:

CORPORATE RESPONSIBILITY TOWARDS CONSUMER STAKEHOLDERS By: Amit Kumar (B07005) Avadhut Kaluskar (B07011) Dhananjay Joshi (B07015) Indraneel Mukherjee (B07021) Shashank Vyas (Bo7038) Kumar Vikas (B07048)

“Look back at your business and life, at their end, and honestly say that the years of doing business have had some meaning. We should be able to look back and see that we have conducted ourselves and our business in a way that had some lasting meaning and which left some good mark on the world.” -Buddha

“If you find an executive who wants to take on social responsibilities, fire him. Fast.“ - Peter F. Drucker

Contrast between corporate social responsibility, corporate social responsiveness, and corporate citizenship

Corporate Social Responsibility CSR encompasses an organization's commitment to behave in an economically and environmentally sustainable manner, while honoring the interests of direct stakeholders. Corporate social responsibility (CSR, also called corporate responsibility, corporate citizenship, and responsible business) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment.

CSR does matter to the public When forming a decision about buying a product or service, how important is it to you that it shows commitment to social responsibility? Behavior & Attitudes Marketing Research, 2003 Most customers will not pay more for products from responsible companies. BUT Increasingly the public is expecting corporations to act responsibly.

7 CSR is an influence on consumers… Q1. Please rate how likely your decisions are to be influenced by a company’s reputation when doing any of these following activities. Q7. How likely are your purchasing decisions to be influenced by a company’s corporate social responsibility when doing any of the following activities? Company’s reputation Company’s CSR CSR is an influence on consumer FGI Research Inc.

Consumer behavior: Are consumers willing to spend more for CSR? Future Consumer Report: Small price increase is no problem, say consumers when interviewed

ITC Limited “There are still millions who only dream of school, ITC is helping some of them realise this dream”

CSR: Relation with consumers Ethical Consumerism Green consumerism Brand differentiation & Loyalty

Consumer Attitudes: What elements of CSR have priority?

The new understanding of CSR As the triple bottom line --Profit, People and Planet. (1)Business goals are always for profit, and that (2)Business and corporations are supposed to take part in the efforts to fulfill people's welfare and this (3)Requires active participation in securing the planet's sustainability.

Thank You!!!!!