If you are looking for MEDS-052 IGNOU Solved Assignment solution for the subject CSR Process, you have come to the right place. MEDS-052 solution on this page applies to 2022-23 session students studying in PGDCSR, MACSR courses of IGNOU.
MEDS-052 Solved Assignment Solution by Gyaniversity
Assignment Code: MEDS-052 / TMA / July 2022 – January 2023
Course Code: MEDS-052
Assignment Name: CSR Process
Year: 2022 - 2023
Verification Status: Verified by Professor
Answer all the questions. Each question carries 20 marks.
Q 1. What is sustainable corporate strategy? Discuss the steps involved in achieving sustainable corporate strategy.
Ans) Sustainable corporate strategy is a way of running a business that balances making money with being good to people and the environment. The goal of a sustainable corporate strategy is to make the company and society as a whole better off in the long run. This method looks at how a company's operations and products affect the environment, its employees, customers, communities, and other groups that have a stake in the business.
A sustainable business strategy tries to make the best use of resources and have the least number of negative effects, while also taking into account the needs of future generations in terms of society and the environment. This can be done in many ways, such as by reducing waste and emissions, using renewable energy sources, using ethical and fair business practises, promoting diversity and inclusion, and helping local communities. The goal of a sustainable corporate strategy is to make sure that businesses run in a way that helps create a better future.
Five Steps in Achieving Sustainable Corporate Strategy
Step 1: Understand Sustainability and Recognize what it Means to the Company
As a first step, it is important to define what sustainability means for each part of the company and to list its benefits. Sustainability is becoming more and more important when making decisions about investments, making new products or services, and changing how we buy things. One company that bases its investment decisions on sustainability is Coca-Cola. Water sustainability is now one of the most important things to think about when building new factories or deciding where to put them.
Step 2: Engage with Stakeholders
Depending on what it does for a living, a company can have different effects on different groups. Most of the time, companies work with the most powerful groups, keeping close ties and talking to them all the time. But engagement can happen on different levels, and it should be based on what both sides want. Different levels and ways of engagement are good for both companies and stakeholders, and they can lead to more sustainable ways of doing things. Bonnie Nixon, Hewlett-Director Packard's of Environmental Sustainability, says, "Allowing stakeholders to give us honest feedback pushes us to improve our programmes and helps us build our thought leadership platforms."
Step 3: Set Goals and Commitments
Once the most important environmental, social, and governance issues have been identified and ways to involve each stakeholder group have been figured out, efforts should be made to reduce risks and take advantage of opportunities related to these issues by using sustainable methods. Sustainability commitments and goals need to be set, whether they are driven by cost cuts, new ideas, or better financial performance.
Step 4: Establish Systems and Processes
Once the goals are set, specific systems and detailed processes need to be put in place to make sure that each initiative is carried out the right way. During the design process, the processes and policies that are already in place must be taken into account, and collaboration between areas should be encouraged. At this point, it's very important to get executive support. Good practises also include naming an internal sustainability champion as the main driver of sustainability and creating a successful model for employee engagement. According to the 2012 Report of Sustainability Leaders by VOX Global and Net Impact, Berkeley, 78 percent of respondents said that top management was a key factor in embracing sustainability. But 81 percent said that their co-workers were the main reason the company was successful.
Step 5: Track Progress, Communicate Actions and Meet Expectations
Lastly, it's important to set up a way to measure how well each goal is being met. Defining key performance indicators to reach the goals set will help find places that need to be improved and collect the right data to keep track of progress. Metrics and indicators are also a big part of how the company reports and shares information. Internally, the availability of data helps put issues and projects in order of importance and gets employees involved in sustainability. From the outside, collecting data is a key part of a strategy for accountability, to meet the needs and expectations of stakeholders and to meet reporting standards.
In the end, corporate sustainability needs to change based on how old the business is and how willing the company is to see sustainability as a strategic opportunity. These steps are just the beginning of a process that can change a company's entire business strategy into a sustainable business strategy.
Q 2. What do you understand by Business Ethics? Discuss the approaches to ethical decision making.
Ans) Business ethics refers to the moral principles, values, and standards that guide the behavior of individuals and organizations in the business world. These principles are designed to help companies operate in a responsible and fair manner, and to ensure that their actions are in line with the interests of all stakeholders, including employees, customers, suppliers, shareholders, and the broader community. Business ethics is concerned with a wide range of topics, including workplace conduct, product safety and quality, marketing and advertising practices, and environmental impact.
The importance of business ethics has been emphasized in recent years as a result of high-profile corporate scandals and increased public awareness of the role that companies play in society. Businesses that prioritize ethics and social responsibility are not only better equipped to navigate complex legal and regulatory environments, but they are also more likely to build strong relationships with customers and stakeholders, and to maintain a positive reputation in the marketplace.
Approaches to Ethical Decision Making
Teleology is the idea that some things are easier to understand if you look at their purpose rather than their cause. The focus of teleological theories of ethics is on how actions affect other things. Egoism and utilitarianism are the two most important types of teleological theories.
Egoism: Egoism is the idea that morality is based on what is best for yourself. It tells you what is right and wrong based on how it affects you. An egoist chooses a course of action from among several options based on how that action will affect his own well-being. When making a business decision, this kind of person would choose the path that he or she thought would be best for himself or herself.
Utilitarianism: Utilitarianism bases morality on how actions affect others. Utilitarian ethics aims to make everyone happy. Utilitarianism is a cost-benefit analysis. Decisions, policies, and actions are weighed. Financial, social, human, and emotional costs and benefits can be calculated. If the benefits outweigh the costs after adding up all the costs, the action may be ethical. Both utilitarianism and egoism judge actions by how they affect others. Utilitarianism, unlike egoism, seeks to benefit the greatest number.
The Greek words for duty (deon) and study (logia) are where the word "deontology" comes from (logos). Deontological theories are different from teleological theories because they focus on the morality of the means and not the ends. So, a deontological way of making decisions would not let you hurt some people in order to help more people. To a deontologist, everyone should be treated with the same amount of respect, and no one should be used to get something else.
Justice implies fairness. Theories of ethics that are based on justice try to figure out how fair actions are. From this point of view, a just action is one that is fair to everyone involved and is in line with existing moral or legal standards.
Fairness of an action is often judged on three grounds–distributive, procedural and interactional. Each of these is briefly described below.
Distributive Fairness: Distributive fairness judges the outcomes of actions and perceptions of these outcomes that the parties affected by these have of them.
Procedural Fairness: Procedural fairness deals with the processes (for example: policies, procedures, rules, etc.) that are employed to reach decisions. Under this approach, the fairness of processes as well as outcomes of these processes is determined.
Interactional Fairness: This dimension of fairness is concerned with the treatment one receives in the administration of a decision-making process. Basically, this deals with the respect and consideration shown towards the affected parties while taking decisions. It also deals with the explanations and justifications provided for the decisions.
Relativism is different from the other approaches we've talked about so far, which are all based on the idea that moral principles are permanent and universal. Relativism says that there are no universal moral principles and that each person or group must decide for themselves what is right and wrong. So, it takes into account how morals change over time and across cultures.
Q 3. What is exclusion? What are the different types of exclusion? Give example of any one successful CSR project which has helped in bringing about social inclusion.
Ans) Exclusion refers to the act of excluding, or denying access to, goods, services, or opportunities to certain individuals or groups. This can occur for a variety of reasons, including discrimination, prejudice, social and economic disadvantage, or lack of access to resources.
Exclusion can take many forms, such as denying access to education, employment, or housing based on race, gender, religion, or sexual orientation. It can also involve denying access to health care, financial services, or other important resources.
The effects of exclusion can be far-reaching and can contribute to a cycle of poverty, marginalization, and social exclusion. It can also lead to a lack of representation and voice in decision-making processes and can result in the marginalization of entire communities.
Efforts to address exclusion must focus on breaking down the barriers that prevent certain individuals and groups from accessing opportunities and resources. This may involve policies and initiatives aimed at promoting equality, diversity, and inclusiveness, as well as efforts to ensure that everyone has access to the resources and opportunities, they need to reach their full potential.
It's important to note that exclusion is a complex issue that is often rooted in systemic factors such as discrimination and inequality. Addressing exclusion requires a comprehensive approach that involves not only addressing the immediate symptoms, but also addressing the underlying causes.
Example of Successful CSR Project
One successful CSR project that has helped in bringing about social inclusion is the "Project Shakti" initiative by Hindustan Unilever Limited (HUL) in India. Project Shakti was launched in 2001 with the aim of providing livelihood opportunities to rural women and promoting inclusive growth. Under this initiative, HUL partnered with non-governmental organizations (NGOs) and self-help groups (SHGs) to empower women in rural India. The project focuses on creating a sustainable micro-enterprise model for rural women to become entrepreneurs and independent. The initiative provides training, resources, and support to these women to help them set up their own businesses and earn a livelihood.
Project Shakti has helped to address the social exclusion faced by women in rural India, where patriarchal norms and lack of access to education and opportunities often restrict women's participation in economic activities. Through this initiative, women are given the opportunity to acquire new skills, gain financial independence, and have greater decision-making power in their families and communities. Project Shakti has been successful in creating a positive impact on the lives of rural women. Over 100,000 women entrepreneurs have been trained and supported through this initiative, and the program has expanded to over 18 states in India. The project has not only created a new source of income for these women but has also helped in building their confidence and social status.
Moreover, the initiative has also contributed to the economic development of rural communities, as the women entrepreneurs become the driving force for economic growth. The success of Project Shakti has also encouraged other companies to invest in similar initiatives, leading to a wider impact on social inclusion. In conclusion, the Project Shakti initiative by Hindustan Unilever Limited has been a successful CSR project in bringing about social inclusion by empowering rural women in India. The initiative has provided a sustainable livelihood to women and has helped in creating a positive impact on their lives and the economic development of their communities.
Q 4. Who are stakeholders in a CSR project? Discuss the various methods to identify the stakeholders.
Ans) Stakeholders in a CSR project refer to individuals, groups, or entities that are impacted by or have an interest in the project's activities, outcomes, or outputs. The stakeholders in a CSR project can be both internal and external to the organization. The following are some of the key stakeholders in a CSR project:
Employees: Employees are an internal stakeholder in a CSR project. They are impacted by the company's CSR initiatives as these initiatives can help improve their working conditions, safety, and well-being.
Customers: Customers are an external stakeholder in a CSR project. They are interested in how the company's CSR initiatives impact the environment and society, as well as the quality of the products and services they receive.
Shareholders: Shareholders are an internal stakeholder in a CSR project. They are interested in how the company's CSR initiatives impact their investments and the long-term sustainability of the company.
Suppliers: Suppliers are an external stakeholder in a CSR project. They are interested in how the company's CSR initiatives impact their business relationships with the company and the sustainability of the supply chain.
Local Communities: Local communities are an external stakeholder in a CSR project. They are interested in how the company's CSR initiatives impact the local environment, economy, and social fabric.
Government: The government is an external stakeholder in a CSR project. They are interested in how the company's CSR initiatives align with national policies and regulations and contribute to the country's development.
Methods to Identify the Stakeholders
Identifying stakeholders is a critical step in developing and implementing CSR projects, as it helps ensure that the project's goals are aligned with stakeholder interests and priorities. The following are some methods for identifying stakeholders:
Stakeholder Social Data Collection: Stakeholder mapping is a process of identifying, analysing, and prioritizing stakeholders based on their level of influence and interest in the project. It involves mapping stakeholders in a matrix that categorizes them based on their level of influence and interest in the project. This process helps to identify and prioritize stakeholders and determine their level of engagement in the project.
Stakeholder Surveys: Stakeholder surveys involve the use of questionnaires or interviews to collect feedback from stakeholders. This method helps to identify stakeholders and their opinions, needs, and expectations about the project. Surveys can be conducted through online platforms, phone calls, or face-to-face meetings, and can be useful in identifying stakeholders who may not have been identified through other methods.
Stakeholder Interviews: Stakeholder interviews are conducted to collect detailed information on the stakeholders' opinions, concerns, and expectations about the project. The interviews can be conducted face-to-face, over the phone, or through video conferencing. This method is particularly useful in identifying and understanding the views of key stakeholders who have a significant influence on the project.
Focus Groups: Focus groups involve the gathering of a small group of stakeholders who share common characteristics or interests. This method helps to identify stakeholders and gain a better understanding of their perspectives and opinions on the project. Focus groups can be conducted in person or through online platforms and are useful in identifying stakeholders who are less likely to participate in other methods.
Social Media Analysis: Social media analysis involves the use of online platforms such as Twitter, Facebook, and LinkedIn to identify and engage with stakeholders. Social media analysis is particularly useful in identifying stakeholders who may not be easily accessible through other methods.
In conclusion, identifying stakeholders is a critical step in developing and implementing CSR projects. Companies can use various methods to identify stakeholders, including stakeholder mapping, surveys, interviews, focus groups, and social media analysis. By engaging with stakeholders, companies can gain a better understanding of stakeholder interests and priorities and ensure that their CSR initiatives are aligned with stakeholder expectations.
Q 5. List out the 17 Sustainable Development Goals. Discuss any one Goal in detail, giving its targets and indicators.
Ans) The 17 Sustainable Development Goals (SDGs), also known as the Global Goals, were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure peace and prosperity for all.
The following is a list of the 17 SDGs:
Good Health and Well-being
Clean Water and Sanitation
Affordable and Clean Energy
Decent Work and Economic Growth
Industry, Innovation, and Infrastructure
Sustainable Cities and Communities
Responsible Consumption and Production
Life Below Water
Life on Land
Peace, Justice, and Strong Institutions
Partnerships for the Goals
Each of the 17 Sustainable Development Goals (SDGs) has specific goals and ways to measure progress toward reaching the goals by 2030. The SDGs are linked and aim to solve global problems like poverty, inequality, climate change, and damage to the environment by getting governments, the private sector, civil society, and individuals to work together and form partnerships.
Everywhere you look, you can see the terrible effects of global warming and climate change. This puts people and things in danger. To fight against the effects of climate change, national and international governments need to make real efforts, have strong political will, work together, make sure they have the right policies, strategies, plans, and technologies in place, and have a strong political will. This goal gives countries a plan for how to work together to reach this goal.
Goal 13: Take Urgent Action to Combat Climate Change and its Impacts
All countries should improve their ability to deal with natural disasters and climate-related risks.
Include actions to deal with climate change in national policies, strategies, and plans.
Improve education, raising awareness, and the ability of people and institutions to prevent, adapt to, lessen the effects of, and give early warnings about climate change.
Implement the commitment made by developed country parties to the United Nations Framework Convention on Climate Change to raise $100 billion a year from all sources by 2020 to help developing countries with their needs. This should be done in a way that is both effective and transparent, and the Green Climate Fund should be fully operational as soon as possible by being capitalised.
Promote ways to improve planning and management of climate change in the least developed countries and small island developing states, with a focus on women, young people, and local and underserved communities.
Access to and implementation of a clear and detailed strategy for deep decarbonization, in line with the 2oC or below global carbon budget and GHG emission targets for 2020, 2030, and 2050.
CO2 intensity of newly installed power plants (gCO2/KWh), new cars (gCO2/pkm), and new trucks (gCO2/tkm).
Net GHG emissions in the Agriculture, Forestry, and Land Use (AFOLU) sector (tCO2e) Official climate financing from developed countries that is extra to ODA (Official Development Assistance) (in US$).
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