corporate governance and corporate social responsibility synergies and interrelationships dima...
TRANSCRIPT
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Corporate Governance & Corporate (Social Responsibility Synergies and Interrelationships)
Group Members: M.Rehman Shabbir-005Farhan Abbas Rizvi-081
M.Salman Shahid-021Faizan Anjum-101Date:
Monday 1 May 2023
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Paper will focus on
Corporate Governance (CG)Corporate Social Responsibility
(CSR) Synergies and Interrelationships
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Corporate Governance CGThe system by which companies are
directed and controlled◦CG encompasses◦the notions of compliance,◦Accountability◦transparency
How managers exert their functions through compliance with the existing laws
regulations and codes of conduct
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CG encourage the companies
To promote ethics or fairness
Transparency, and accountability in all their dealings
They are expected to continue generating profit
Maintaining the highest standards of governance internally
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Corporate SocialResponsibility (CSR) demonstrates
Companies should balance interests of◦Customers◦Communities◦Business partners◦employees with those of
shareholders
To meet public requirements for CSR compliance.
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Corporate Social Responsibility (CSR)Evolved largely in the early 21st
century Basic standards of business
ethicsTaken simple concepts of honest
and transparencyAdded expectations for
companies of social and environmental responsibility
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Result CSR is based on self-regulatory principles linked to internal and external management of the company.
Corporate governance‟ indicates to an idea of company's governance and management issue
Corporate governance is a broad theory concerned with the alignment of management and shareholder interest
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Four Key Pillars of Corporate Social Responsibility (CSR)
Strategic Governance Human Capital
Strategic scanning capability
Agility / adaptationPerformance indicators/monitoringTraditional
governance concerns International “bestpractice”
Labor relationsRecruitment /
retention strategiesEmployeemotivation Innovation capacityKnowledgedevelopment
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Four Key Pillars of Corporate Social Responsibility (CSR)
Stakeholder Capital Environment
Regulators andpolicy makersLocal
communities/NGOsCustomer
relationshipsAlliance partners
Brand equityCost/risk reductionMarket share growthProcess efficienciesCustomer loyalty Innovation effect
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Corporate Social Responsibility Embedded in Corporate Governance
Strategic Leadership
Stewardship
Board Structure
Capital Structure & Market Relations
Social Responsibilities
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CG and CSR as Part of a ContinuumIntegrative frameworkvarying degrees of compliance
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RESEARCH METHODOLOGYTop managers of eight
corporationsScreening provided a preliminary
ideaInterviewsCase studies
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FINDINGS & THEORETICAL PROPOSITIONS(cont.)
Awareness of international codes of
good governance• Counterbalanced • Appreciation • Needs to be
considered in context
• Practices are invariably influenced
• Moulded by national institutional environments
• Cultural• Economic
Various constraints stemming from
• Macroeconomic instability
• Very limited attention
• Capacity of the regulatory
• Judicial systems in the country.
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FINDINGS & THEORETICAL PROPOSITIONS(cont.)
• Local socio-politico-institutional environments significantly affect CG practices in developing countries.
Proposition 1
• Limited institutional pressures for homogenization in CSR translate into philanthropic and instrumental CSR orientations in developing countries.
Proposition 2
• Good CG is increasingly considered in developing country contexts as a necessary foundational pillar for a genuine and sustainable CSR orientation.
Proposition 3
• good CG in developing economies is increasingly complemented by due regard and consideration for voluntary corporate social performance.
Proposition 4
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FINDINGS & THEORETICAL PROPOSITIONS(cont.)
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CG and CSR are two sides of the same
coin (Bhimani & Soonawalla, 2005).
It posits CG as a necessary
foundational pillar or building block for
CSR Hancock (2005)
It illustrates the crossconnects
between CG and CSR revolving around
strategic leadership and stewardship as
implied in Ho’s (2005)
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CONCLUDINGCG & CSR should not be considered and sustained independently
CG necessary pillar for CSR
CSR orientation in internal roots of CG foundation
CG is not entirely effective without a sustainable CSR
CG sets the overall tone for the organization
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Thank You !