CORPORATE SOCIALRESPONSIBILITYCorporate Social Responsibility is the continuing commitment bybusiness to behave ethically and contribute to economic developmentwhile improving the quality of life of the workforce and their families aswell as of the local community and society at large
It respects cultural differences and finds the business opportunities in building the skills of employees. Traditionally in the United States, CSR has been defined much more in terms of a philanphropic model. Companies make profits, unhindered except by fulfilling their duty to pay taxes. Then they donate a certain share of the profits to charitable causes. It is seen as tainting the act for the company to receive any benefit from the giving.
The European model Social responsibility becomes an integral part of the wealth creation process - which if managed properly should enhance the competitiveness of business and maximise the value of wealth creation to society. When times get hard, there is the incentive to practice CSR more and better - if it is a philanthropic exercise which is peripheral to the main business, it will always be the first thing to go when push comes to shove.
Corporate socialresponsibility A concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment. A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis
CSR IN INDIA CSR has become increasingly prominent in the Indian corporate scenario because organizations have realized that besides growing their businesses it is also vital to build trustworthy and sustainable relationships with the community at large. This is one of the key drivers of CSR programs.
SCOPE OF CSR IN INDIA Though India is one of the fastest growing economies, socio-economic problems like poverty, illiteracy, lack of healthcare etc. are still ubiquitous and the government has limited resources to tackle these challenges. This scenario has opened up several areas for businesses to contribute towards social development
CSR is not a new concept in India. Corporates like the Tata Group, the Aditya Birla Group, and Indian Oil Corporation, to name a few, have been involved in serving the community ever since their inception. Many other organizations have been doing their part for the society through donations and charity events.
Four years ago, Reliance Industries Ltd. launched a countrywide initiative known as “Project Drishti”, to restore the eye-sights of visually challenged Indians from the economically weaker sections of the society. This project, started by one of India’s corporate giants has brightened up the lives of over 5000 people so far.
e-Choupal As Indias kissan Company, ITC has taken care to involve farmers in the designing and management of the entire e-Choupal initiative. The active participation of farmers in this rural initiative has created a sense of ownership in the project among the farmers. They see the e-Choupal as the new age cooperative for all practical purposes.
E-choupal ITCs Agri Business Division, one of Indias largest exporters of agricultural commodities, has conceived e-Choupal as a more efficient supply chain aimed at delivering value to its customers around the world on a sustainable basis. The e-Choupal model has been specifically designed to tackle the challenges posed by the unique features of Indian agriculture, characterised by fragmented farms, weak infrastructure and the involvement of numerous intermediaries, among others.