Corporate Social Responsibility in India

Only available on StudyMode
  • Download(s) : 200
  • Published : March 16, 2012
Open Document
Text Preview
The Gdansk Institiute for Market Economics

Reporting on Corporate Social Responsibility by Banks, Financial Institutions and Listed Companies in Poland

Gdansk, December 2003

This publication and the research that enabled it were co-financed by a grant from the Partners for Financial Stability (PFS) Program, a cooperative program of East-West Management Institute, Inc. and USAID. The opinions expressed herein are those of the authors and do not necessarily reflect the views of the PFS Program.

1

The Gdansk Institiute for Market Economics

1.1. Corporate Social Responsibility in the national sector of listed companies (Marta Penczar) ................................................................3 1.2. Corporate Social Responsibility (CSR) in the Polish banking sector (Blazej Lepczynski).................................................................13 1.3. Corporate Social Responsibility (CSR) in the Polish sector of investment and pension funds (Dr. Piotr Pisarewicz)........................22

2

The Gdansk Institiute for Market Economics

1.1.

Corporate Social Responsibility in the national sector of listed companies (Marta Penczar)

The concept of sustainable development becomes more and more important in the Polish economy. Sustainable development is development satisfying needs of the present generation not depriving future generations of possibilities to satisfy their needs1. Thus, companies have to implement the idea of the Corporate Social Responsibility, which is an equivalent of the sustainable development at the microeconomic level. The basic principle of the sustainable development and Corporate Social Responsibility is the combination of needs important both from the point of view of an institution, as well as a group of entities operating in its environment (employees, shareholders, stakeholders, borrowers, local society) within its business policy. Thus, the goal of a contemporary organisation should be to maximise its shareholders’ value satisfying, at the same time, expectations of other stakeholders (stakeholders’ value) by integrating economic, social and environmental operations. There are many factors that make us interested in Corporate Social Responsibility 2: • • • • New problems and expectations of citizens, customers, public authorities and investors in the context of globalisation and significant industrial changes; Social criteria have bigger and bigger influence on investment decisions made by units and institutions playing both the role of consumers as well as investors; Bigger and bigger care for damages caused to natural environment by business activities; Transparency of business activities supported by media and IT technologies.

The research carried out by Ashbridge Business School3 shows that companies that have taken up actions to implement Corporate Social Responsibility may expect that: 1. Their image and reputation will improve, 2. Their market management quality will improve

1 2

See: „Report of the Brundtland Commission”. Promoting a European framework for Corporate Social Responsibility, Green Paper, COM(2001) 366 final, Brussels, 18.07.2001 3 Corporate Social Responsibility & Socially Responsible Investing, A European Framework, Chaired by Sir Brian Inwin, Federal Trust for Education and Research, London, 2002

3

The Gdansk Institiute for Market Economics

-

environmental and social risk management quality may influence the profitability of a company and determine its existence,

-

risks connected with Corporate Social Responsibility are a special challenge for the management since, to manage them, they have to establish a wide dialog with external parties: consumers, suppliers, and at the same time these risks are difficult to measure and quantify (risk of reputation loss, consumers’ loyalty);

3. Their relations with employees will improve; 4. Their relations with other stakeholders will improve; 5. Their relations with...
tracking img