Contents

• INTRODUCTION 3
• Corporate Social Responsibility 4
• IMPORTANCE OF CSR 6
• INDUSTRY EXAMPLE 8
• The corporate social responsibility of the Toll group can be focused as; 9
• Board Charter 9
• Terms of Reference of Board Committees 10
• Policy and Procedures for selection and appointment of Directors 10
• Securities Trading Policy 11
• Code of conduct for Directors and Senior Executives 11
• Auditor Independence Policy 11
• Continuous Disclosure Policy 12
• Informing and communicating with Shareholders 12
• Risk Management Policy Statement 12
• Process for performance evaluation of Directors and Key Executives 13
• THE CHANGING PATTERN OF ORGANIZATIONAL STRUCTURE DUE TO CSR 14
• CONCLUSION 15
• Bibliography 17

Description

Corporate social responsibility (CSR) is an inevitable need for the organizations to make a fit of the business’ competencies with the need of the organization. The term came to vogue during the late 1960’s and boomed as an undeniable tool for the strategic development of the companies and the business environment as a whole. CSR is a must for today’s organization in framing the skeleton of their business operations (Carroll, 1999). Many thought the CSR to be a window-dressing to keep the government and the law satisfied and safeguard the business from government interference. But with the passing time CSR emerged as a useful strategically move for the sustainability of the business ventures and now-a-days the companies are giving emphasizes on the CSR for the growth and development of the company. The major functionality of the CSR lies with the enhancement of the company’s image and to create a brand for the company to attract and retain more stakeholders and customers for the venture. To make a company survive and growth in this fierce competition and to achieve the triple bottom line (TBL) for the venture the CSR is required (Matten & Moon, 2010). The CSR definitely increases the business ethics and develops the application that is needed to establish them in the work environment. This enriches the work culture of the organization and increases the productivity of the internal customers. the government and other regulatory bodies has set up rules and regulations to which the companies needs to adhere to for prevent the role of government into the organization and to keep the business operations at par with the industry benchmark.