1. The document discusses corporate social responsibility (CSR) initiatives taken by various companies in India. It provides examples of CSR programs focused on areas like farmer development, education, healthcare, and community development.
2. Many large Indian companies and corporations are recognizing CSR as an important part of their business strategy and are engaging in long-term, sustainable CSR programs in partnership with NGOs and local communities.
3. Examples of leading CSR programs mentioned include ITC's farmer development programs, IT companies like TCS and Wipro developing educational software, and companies like Aptech, Infosys Foundation, and Jubilant Organosys running schools, hospitals, and health programs.
This article talks about India’s Competitiveness Edge - A Study of the Role of Corporate Social Responsibility. It has been co- authored by Dr. Uday Salunkhe, Director of the prestigious Welingkar Institute of Management and Research.
This article talks about India’s Competitiveness Edge - A Study of the Role of Corporate Social Responsibility. It has been co- authored by Dr. Uday Salunkhe, Director of the prestigious Welingkar Institute of Management and Research.
Provisions for Corporate Social Responsibility in Companies Act, 2013RHIMRJ Journal
CSR as a concept has attracted worldwide attention and acquired a new resonance in the global economy Heightened
interest in CSR in recent years has stemmed from the advent of globalisation and international trade, which has reflected in
increased business complexity and new demands for enhanced transparency and corporate citizenship. Moreover, while
Governments have traditionally assumed the sole responsibility for the improvement of the living conditions of the population,
society’s needs have exceeded the capabilities of Governments to fulfill them. In this context, the spotlight is increasingly
turning to focus on the role of business in society and progressive companies are seeking to differentiate themselves through
engagement in what is referred to as CSR. The Companies Act, 2013 has taken one step ahead and introduced mandatory
provisions in the field of CSR. Though many believe that concerns on the new company law are manifold and it is a bold yet
not beautiful step. For instance, India Inc is concerned that the cost of board performance evaluation may outweigh the
benefits for many small companies in this regard. Also, it has concerns about the prospect of an over regulated regime and the
attendant scourge of corruption. Given the advantages and concerns on the new regulations introduced by the new Companies
Act, we all need to wait and watch once the companies start implementing the new provisions and therefore, the practical
aspects and implications will be evaluated thereafter.
The concept of social responsibility among businessmen, particularly in India, is not new and can be easily seen in the form of magnificent temples, high mosques, large dharmshalas and great educational institutions. Indian literature is full of incidents when business- men have gone out of the way to help extract kings and societies out of crises. Many Indian businesses are known for staying one step ahead of the government, as far as the welfare of employees and societies is concerned.
IBM Study On Sustainable Corporate Social ResponibilityrScott Rains
In order to attain sustainable growth through CSR, companies must:
1. Align and incorporate CSR with business
strategy and integrate it across all perational
functions, thus making it easy to invest
(not spend) the funds necessary to achieve
its objectives;
2. Implement an open information strategy for
more transparent information sharing with
multiple stakeholders;
3. Leverage transparency to increase the levelof engagement of key constituents and
customers.
A Study on Linkage between Corporate Social Responsibility and Return on Net ...iosrjce
The purpose of the present paper is to study the linkage of CSR initiatives taken by the Indian
companies and its impact on their RONW. For this purpose, various financial parameters have been used like
Return on net worth, profit before tax and earning per share. Researchers have taken a sample of 5 private
companies namely Tata Steel Company, RIL, Mahindra & Mahindra, Infosys and Larsen and Toubro to
examine the relationship between corporate social responsibility and RONR by considering their financial
statement of five years (from March 2010 to March 2014). The logic behind to take such samples is that these
are big private key players with respect to Indian business. After getting all the data, an analysis on the
relationship between CSR and other financial parameters like EPS, PBT and RONR are tested by Regression
analysis and ANOVA. Irrespective of this general outcome, the current study depicts evidence that there is a
insignificant relationship between CSR and Return on Net Worth (RONR) in case of these companies.
Determinants of CSR Disclosure: A Study on the Listed Fast Moving Consumer Go...inventionjournals
As the rising of the corporate social responsibilities (CSR) is becoming a concern since the millennium year, especially by large or public listed companies in Bursa Malaysia. However, there are not much of those companies willing to disclose their CSR information to the public. Therefore, this endeavour is to investigate the content of CSR in annual reports and examine the significant relationship between determinants and CSR disclosure of listed fast moving consumer goods (FMCG) companies in Bursa Malaysia. This is a quantitative research, which involve content analysis since it adopted annual reports as main data resources. CSR, financial, and organisation information are going to be extracted to reckon the relationships between the variables and CSR disclosure by using CSR index and multiple regression. Result based on the analysis indicated that only two variables were significantly correlated with the CSR disclosure, which namely profits earned and independent directors. The top three elements that the most disclosed by these companies are general philanthropy, community programs and employee welfare. This study is important and its helps company in business decision making as this provide the extent of CSR disclosure of the industry. In addition, this study can be as reference to other companies for future CSR implementation.
In the second of a series of reports commissioned by HSBC, we consider the extent to which businesses are incorporating responsibility in their business operations.
Provisions for Corporate Social Responsibility in Companies Act, 2013RHIMRJ Journal
CSR as a concept has attracted worldwide attention and acquired a new resonance in the global economy Heightened
interest in CSR in recent years has stemmed from the advent of globalisation and international trade, which has reflected in
increased business complexity and new demands for enhanced transparency and corporate citizenship. Moreover, while
Governments have traditionally assumed the sole responsibility for the improvement of the living conditions of the population,
society’s needs have exceeded the capabilities of Governments to fulfill them. In this context, the spotlight is increasingly
turning to focus on the role of business in society and progressive companies are seeking to differentiate themselves through
engagement in what is referred to as CSR. The Companies Act, 2013 has taken one step ahead and introduced mandatory
provisions in the field of CSR. Though many believe that concerns on the new company law are manifold and it is a bold yet
not beautiful step. For instance, India Inc is concerned that the cost of board performance evaluation may outweigh the
benefits for many small companies in this regard. Also, it has concerns about the prospect of an over regulated regime and the
attendant scourge of corruption. Given the advantages and concerns on the new regulations introduced by the new Companies
Act, we all need to wait and watch once the companies start implementing the new provisions and therefore, the practical
aspects and implications will be evaluated thereafter.
The concept of social responsibility among businessmen, particularly in India, is not new and can be easily seen in the form of magnificent temples, high mosques, large dharmshalas and great educational institutions. Indian literature is full of incidents when business- men have gone out of the way to help extract kings and societies out of crises. Many Indian businesses are known for staying one step ahead of the government, as far as the welfare of employees and societies is concerned.
IBM Study On Sustainable Corporate Social ResponibilityrScott Rains
In order to attain sustainable growth through CSR, companies must:
1. Align and incorporate CSR with business
strategy and integrate it across all perational
functions, thus making it easy to invest
(not spend) the funds necessary to achieve
its objectives;
2. Implement an open information strategy for
more transparent information sharing with
multiple stakeholders;
3. Leverage transparency to increase the levelof engagement of key constituents and
customers.
A Study on Linkage between Corporate Social Responsibility and Return on Net ...iosrjce
The purpose of the present paper is to study the linkage of CSR initiatives taken by the Indian
companies and its impact on their RONW. For this purpose, various financial parameters have been used like
Return on net worth, profit before tax and earning per share. Researchers have taken a sample of 5 private
companies namely Tata Steel Company, RIL, Mahindra & Mahindra, Infosys and Larsen and Toubro to
examine the relationship between corporate social responsibility and RONR by considering their financial
statement of five years (from March 2010 to March 2014). The logic behind to take such samples is that these
are big private key players with respect to Indian business. After getting all the data, an analysis on the
relationship between CSR and other financial parameters like EPS, PBT and RONR are tested by Regression
analysis and ANOVA. Irrespective of this general outcome, the current study depicts evidence that there is a
insignificant relationship between CSR and Return on Net Worth (RONR) in case of these companies.
Determinants of CSR Disclosure: A Study on the Listed Fast Moving Consumer Go...inventionjournals
As the rising of the corporate social responsibilities (CSR) is becoming a concern since the millennium year, especially by large or public listed companies in Bursa Malaysia. However, there are not much of those companies willing to disclose their CSR information to the public. Therefore, this endeavour is to investigate the content of CSR in annual reports and examine the significant relationship between determinants and CSR disclosure of listed fast moving consumer goods (FMCG) companies in Bursa Malaysia. This is a quantitative research, which involve content analysis since it adopted annual reports as main data resources. CSR, financial, and organisation information are going to be extracted to reckon the relationships between the variables and CSR disclosure by using CSR index and multiple regression. Result based on the analysis indicated that only two variables were significantly correlated with the CSR disclosure, which namely profits earned and independent directors. The top three elements that the most disclosed by these companies are general philanthropy, community programs and employee welfare. This study is important and its helps company in business decision making as this provide the extent of CSR disclosure of the industry. In addition, this study can be as reference to other companies for future CSR implementation.
In the second of a series of reports commissioned by HSBC, we consider the extent to which businesses are incorporating responsibility in their business operations.
Conceptes previs per l'estudi de la Història. 4t d'ESO. Aquesta presentació recull un conjunt de conceptes bàsics, el coneixement, comprensió i domini dels quals, és imprescindible perquè els alumnes puguin abordar i entendre els continguts d'Història Contemporània corresponents a 4T d'ESO.
Nota: Es recomana descarregar la presentació en el seu format original de PowerPoint, donat que part del continguts de la mateixa són presentats en format d'animació.
.
Report- Impact of CSR on financial performance of the companyBindu Priya Pasham
A team of dedicated professionals from IIM Udaipur, Futurescape and Economic Times have worked on the CSR study of 2015 and has listed India’s top 100 companies for CSR in the year. The top 5 companies and the bottom top 4 companies of the list i.e. 95-99 companies will be considered. The financial data of those companies will be taken and ratios will be performed, so that we come to know whether CSR policy has benefited the companies financially or not.
Changing Dimensions of Corporate Social Responsibility in Indiaprofessionalpanorama
philanthropy to a broader set of activities and integrates the practice of CSR into
the core strategy of the organisation. CSR is evolving in response to profound external
forces, including meeting legal and regulatory obligations and responding to the broader
public opinions. For many developing countries, a major limitation to CSR studies
has been the difficulties associated with proper legislative measures and measuring
CSR practices. CSR index can be used to calculate the level of a company’s CSR
practices. Developing countries need a suitable CSR structure to implement CSR practices
in order to be able to identify the advantages for their stakeholders. Companies need
to identify the importance of cultivating a new set of CSR practices in order to compete
successfully in a global market. CSR is gradually metamorphosing from a mere philosophy
to a strong business case for Indian industry.
Changing dimensions of corporate social responsibility in indiaTapasya123
Corporate Social Responsibility is gradually moving from its historical focus on business
philanthropy to a broader set of activities and integrates the practice of CSR into
the core strategy of the organisation. CSR is evolving in response to profound external
forces, including meeting legal and regulatory obligations and responding to the broader
public opinions. For many developing countries, a major limitation to CSR studies
has been the difficulties associated with proper legislative measures and measuring
CSR practices. CSR index can be used to calculate the level of a company’s CSR
practices. Developing countries need a suitable CSR structure to implement CSR practices
in order to be able to identify the advantages for their stakeholders. Companies need
to identify the importance of cultivating a new set of CSR practices in order to compete
successfully in a global market. CSR is gradually metamorphosing from a mere philosophy
to a strong business case for Indian industry.
From Philanthropy to Mandatory CSR: A Journey towards Mandatory Corporate So...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Social Enterpreneurship: A Form of Social Responsibility in Indiaprofessionalpanorama
The social and economic hardships in India can be overcome through the innovation and
promotion of best practices and positive models as well as by spreading good examples of
social entrepreneurship and social responsibility. A major future challenge is not the proper
implementation of 2% Corporate Social Responsibility mandate but to ensure contribution of
businesses to reduce the problems and work for the betterment of the society by sustainable
means. The paper highlights the importance of social entrepreneurial ideas for improving the
business climate in the country. Social entrepreneurship is becoming a popular form of social
responsibility and a way to solve a variety of urgent social problems. In order for a society to
boost social entrepreneurship, it needs a specific environment where such ideas can emerge
and develop into an active business models. This paper aims to provide a comprehensive
literature review of terms social responsibility and social entrepreneurship. It also examines
the current social entrepreneurship activities in India. The paper concludes that social
entrepreneurship has a better impact and more desirable than Corporate Social
Responsibility.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
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June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
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This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
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Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
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Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
1. International Journal of Management and Social Sciences Research (IJMSSR) ISSN: 2319-4421
Volume 1, No. 3, December 2012
i-Xplore International Research Journal Consortium www.irjcjournals.org
48
Corporate Social Responsibility (CSR): Overview of Indian
Corporates
Vikramjit kaur, Rayat Institute of Management, Railmajra, Punjab Technical University, Jalandhar.
ABSTRACT
Corporate social responsibility (CSR) is a highly
misunderstood & misinterpreted term in India. Some
Indian companies believe that merely complying with laws
& regulations fulfills their need for social responsibility. A
responsible corporate recognizes that its activities have
wider impact on the society in which it operates. Therefore
it takes account of the economic, social, environmental &
human rights impact of its activities on all stakeholders.
Although India is a favorable business destination for
western investors. It is to be tremendously challenging for
any business to remain competitive here in the long term.
Unless poor people have equity in the growth of economy,
India can never achieve the title of super economy. Here
comes the critical role of corporations. Corporate social
responsibility is one such niche area of corporate
behavior & governance that needs to get aggressively
addressed & implemented tactfully in the organizations. At
the same time CSR is one effective tool that synergizes the
efforts of corporate & the social sector agencies towards
sustainable growth & development of the societal
objectives at large.
This paper emphasizes that how CSR has become the
linchpin for development of any corporate organizations.
This paper tries to bring out CSR initiatives taken by
various organizations in India. An exploratory research
design was chosen in order to develop a profound
understanding of the research topic and to obtain in-depth
data about the research objectives. All main elements of
the research paper, comprising theory, findings and
analysis were incorporated in a lucid and cohesive
manner and structured in order to address and evaluate
the central research objectives appropriately.
KeyWords: CSR, Corporate,
Responsibility,India,Business.
Introduction
Corporate social responsibility (CSR), also known as
corporate responsibility, corporate citizenship, responsible
business, sustainable responsible business (SRB), or
corporate social performance, is a form of corporate self -
regulation integrated into a business model. CSR policy
would function as a built-in, self-regulating mechanism
whereby business would monitor and ensure their
adherence to law, ethical standards, and international
norms. Business would embrace responsibility for the
impact of their activities on the environment, consumers,
employees, communities, stakeholders and all other
members of the public sphere. Furthermore, business
would proactively promote the public interest by
encouraging community growth and development, and
voluntarily eliminating practices that harm the public
sphere, regardless of legality. Essentially, CSR is the
deliberate inclusion of public interest into corporate
decision making, and the honoring of a triple bottom line:
People, Planet, and Profit. The credibility of CSR is
dependant on effective delivery of communication at
recruitment, training and regular communication of recent
changes in the company's plan. CSR is generally seen as
the business contribution to sustainable development
which has been defined as "development that meets the
needs of the present without compromising the ability of
future generations to meet their own needs", and is
generally understood as focusing on how to achieve the
integration of economic, environmental, and social
imperatives.
Corporate social responsibility in India
Business houses and corporate have been taking up social
welfare activities from time to time. Recently, priority of
business is getting widened from 1 P to 3Ps by inclusion
of people and planet with profit. Short-term, charity based
welfare interventions are being replaced by long-term,
empowerment –based Corporate Social Responsibility
(CSR). Based on the realization+, ―business cannot
succeed in a society that fails‖, CSR is being considered as
an imperative for carrying on business in the society rather
than as a charity. While CSR is relevant in business for all
societies, it is particularly significant for developing
countries like India, where limited resources for meeting
the ever growing aspirations and diversity of a pluralistic
society, make the process of sustainable development
more challenging. CSR interventions-based on
commitment, mobilization of employees-voluntarism,
innovative approaches, appropriate technology and
continuing partnership-have been making lasting
differences in the life of the disadvantaged. Further,
synergy of corporate action with the government and the
civil society are making the CSR interventions more
effective and facilitating the corporate carrying on
business in the society.
2. International Journal of Management and Social Sciences Research (IJMSSR) ISSN: 2319-4421
Volume 1, No. 3, December 2012
i-Xplore International Research Journal Consortium www.irjcjournals.org
49
Why is CSR relevant today?
CSR as a strategy is becoming increasingly important for
businesses today because of three identifiable trends:
Changing social expectations: Consumers and
society in general expect more from the companies
whose products they buy. This sense has increased in
the light of recent corporate scandals, which reduced
public trust of corporations, and reduced public
confidence in the ability of regulatory bodies and
organizations to control corporate excess.
Increasing affluence: This is true within
developed nations, but also in comparison to developing
nations. Affluent consumers can afford to pick and
choose the products they buy. A society in need of work
and inward investment is less likely to enforce strict
regulations and penalize organizations that might take
their business and money elsewhere.
Globalization: Growing influence of the media
sees any ‗mistakes‘ by companies brought immediately
to the attention of the public. In addition, the Internet
fuels communication among like-minded groups and
consumers—empowering them to spread their message,
while giving them the means to co-ordinate collective
action
Potential business benefits of CSR
The scale and nature of the benefits of CSR for an
organization can vary depending on the nature of
enterprise, and are difficult to quantify, though there is
large body of literature exhorting business to adopt
measures beyond financial ones. The business case for
CSR within a company will likely rest on one or more of
these arguments.
Human resources A CSR programme can be an
aid to recruitment and retention, particularly within the
competitive graduate student market. Potential recruits
often ask about a firm‘s CSR policy during an
interview, and having a comprehensive policy can give
an advantage.
Risk management managing risk is a central part
of many corporate strategies. Reputation as take
decades to build up can be ruined in hours through
incident such as corruption scandals or environmental
accident. These can also draw unwanted attention from
regulators, courts, governments & media. Building a
genuine culture of ‗doing the right thing‘ within a
corporation can offset these risk.
Brand differentiation in crowded market places,
company‘s striving for a unique selling proposition.
That can separate them from the competition in the
minds of consumers. CSR can play role in building
customer loyalty based on distinctive ethical values.
License to operate corporation are keen to avoid
interference in there business through taxation. By
taking substantive voluntary steps, they can pursuit
governments that they are taking issues such as health
& safety, diversity, or the environment seriously as
good corporate citizen with respect to labor standards
and impacts on the environment.
Review of Literature
Moir Lance (2001) reviewed definitions of corporate
social responsibility from both practice and the literature
and looks at theories to explain why such behaviour takes
place. The literature has strong divides between normative
or ethical actions and instrumental activities. The article
concludes by posing the question of when instrumental
activities become business activities rather than largely
social responsibility. Lantos Geoffrey P. (2001) reviewed
the development of the corporate social responsibility
(CSR) concept and its four components: economic, legal,
ethical and altruistic duties. Discusses different
perspectives on the proper role of business in society, from
profit making to community service provider. Suggests
that much of the confusion and controversy over CSR
stem from a failure to distinguish among ethical, altruistic
and strategic forms of CSR Sarbutts Nigel (2003)
reviewed a spectrum of views on reputation and CSR and
argues that searching for a definitive, value-for-money-
based formula for reputation management and CSR is at
odds with stakeholder expectations, and that much
evidence exists to suggest that truly effective CSR is the
result more of pragmatism than theory or corporate
strategy and in some ways SMEs are better placed to take
advantage of CSR programmes. Christian Superti (2005)
Corporate responsibility (CR) has gained a lot of attention
during the last decade and many more companies are
producing non-financial reports today than ten years ago.
Although a widespread definition is not available CR
means that businesses are pursuing their economic, social
and environmental responsibilities on a voluntary basis
and are integrating them into all business operations, while
interacting with their stakeholders. Marshall Judi (2007)
reviewed the potential gendering of leadership in the
emerging field of corporate social responsibility (CSR). It
explores whose voices are becoming dominant, how
leaders speak, and what forms men's and women's
leadership take.Simeon Scott (2007) examined five themes
arising from definitions of corporate social responsibility
(CSR): responsibility to the community and society;
promoting democracy and citizenship; reducing poverty
and the inequality between rich and poor; employee rights
and working conditions; ethical behaviour. The paper also
aims to evaluate three important articles on CSR, and
investigate conceptual value added, with reference to these
five themes. Shah Anup (2007) Recent years have
witnessed increasing importance on corporate social
responsibility, especially as concerns about climate change
are becoming mainstream. There have been criticisms of
corporate social responsibility from ardent free trade
capitalists and anti globalization
activists/environmentalists alike. The former often feels
that anything getting in the way of profits is not a good
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idea, and that self-interest and pursuit of profit will
ultimately lead to the market making these improvements
anyway.Mujih Edwin (2007) extended the debate over the
regulation of corporate behaviour in the area of health and
safety to the question of implementing corporate social
responsibility. Whereas the debate was based on the
protection of workers, in particular, by health and safety
regulations, the article focuses on another stakeholder; i.e.
the local community which plays host to a multinational
company in the extractive industry. Ball Kim (2008)
proposed a shift in view from corporate social
responsibility to corporate social performance (CSP) as a
means to assess CSR policies and practices. A harmful
product category was chosen to illustrate how corporate
social performance using a consumer's point-of-view can
be assessed.Robins Fred (2008) explored the general
question: Is corporate social responsibility (CSR) a
business duty, as many contend, or really just a benign
delusion? Bibri Mohamed (2008) explored the current
practices in corporate sustainability /CSR communications
was performed through a pertinent empirical and
theoretical literature review as well as a quantitative and
qualitative empirical method using a survey questionnaire.
The author attempted, in the same way, to illustrate how
corporate sustainability/CSR communications can
strengthen corporate reputation and directly enhance
financial performance.Galbreath Jeremy (2009) explored
how corporate social responsibility (CSR) can be
effectively built into firm strategy.Gabriel Juan (2009)
From the decision-maker's viewpoint, the success of a
social responsibility program rests heavily on a
corporation's ability to create links in the public
consciousness between the CSR activities of an
organization and its performance to different stakeholders.
However, thinking broadly about CSR outcomes often
results in a list that is much too long to be of any practical
use. The purpose of this paper is to provide an empirical
study to provide understanding as to why business
organizations are increasingly engaging in corporate social
responsibility issues.Jones Brian (2009) explored and
explained corporate social responsibility (CSR) as a
theoretical construct that has implications and
consequences for corporate governance in particular, and
more generally for the economy, business and society.
David Fatima (2009) discussed the interrelationship
between corporate income tax (CIT) and corporate social
responsibility (CSR) within the international framework of
the European Union (EU).
Jose Rigoberto (2009) developed an analytical model for
appraising and measuring corporate social responsibility
(CSR). The theoretical and conceptual grounds that sustain
the model are based on previous approaches. Karin
Greenberg (2009) aim is the understanding of the
mechanisms involved when an organization decides to
direct its focus on CSR issues. CSR efforts are carried out
on a long term basis, often in a turbulent business
environment.
CSR Initiatives of Indian Companies
Corporate social responsibility is necessarily an evolving
term that does not have a standard definition or a fully
recognized set of specific criteria. With the understanding
that businesses play a key role on job and wealth creation
in society, CSR is generally understood to be the way a
company achieves a balance or integration of economic,
environmental, and social imperatives while at the same
time addressing shareholder and stakeholder expectations.
CSR is generally accepted as applying to firms wherever
they operate in the domestic and global economy. The way
businesses engage/involve the shareholders, employees,
customers, suppliers, governments, non-governmental
organizations, international organizations, and other
stakeholders is usually a key feature of the concept. While
business compliance with laws and regulations on social,
environmental and economic objectives set the official
level of CSR performance, CSR is often understood as
involving the private sector commitments and activities
that extend beyond this foundation of compliance with
laws.
CSR - Corporate Examples
Corporate companies like ITC have made farmer
development a vital part of its business strategy, and
made major efforts to improve the livelihood standards of
rural communities.
IT companies like TCS and Wipro have
developed software to help teachers and children in
schools across India to further the cause of education.
Aptech Limited, a leading education player with
a global presence, has played an extensive and sustained
role in encouraging and fostering education throughout
the country since inception. As a global player with
complete solutions-providing capability, Aptech has a
long history of participating in community activities. It
has, in association with leading NGOs, provided
computers at schools, education to the underprivileged
and conducted training and awareness-camps. Aptech
students donated part of the proceeds from the sale of
their art work to NGOs. To propagate education among
all sections of the society throughout the country,
especially the underprivileged, Aptech fosters tie-ups
with leading NGOs throughout the country, including the
Barrackpur-based NGO, Udayan, a residential school for
children of leprosy patients in Barrackpur, established in
1970.The company strongly believes that education is an
integral part of the country's social fabric and works
towards supporting basic education and basic computer
literacy amongst the underprivileged children in India.
In another study undertaken by automotive
research company, TNS Automotive, India has been
ranked second in global corporate social responsibility
The effort is significant because it brings together
a wide range of Indian companies to share ideas on
innovating sustainable programmes. Among them are
Multi Commodity Exchange of India Ltd, Anil
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Dhirubhai Ambani Group and media company
Bennett, Coleman and Co. Ltd
Audit firm KPMG will partner with them to offer
guidance on evaluating corporate social responsibility or
CSR programmes—a trend companies are slowly
embracing as India's expanding economy contrasts
sharply with growing local protests over land for future
industrial projects.
Indian companies have made little progress in
reporting development projects. Addressing business
leaders in May last year, Prime Minister Man Mohan
Singh said "Corporate social responsibility must not be
defined by tax planning strategies alone. Rather, it should
be defined within the framework of a corporate
philosophy, which factors the needs of the community
and the regions in which a corporate entity functions."
Pharmaceuticals Company Jubilant
Organosys Ltd already runs an anti-tuberculosis
programme with the government of Uttar Pradesh. Apart
from schools and hospitals that are run by trusts and
societies, the government, too, is exploring to widen the
scope of public-private partnerships to build and maintain
schools and hospitals in return for a fixed annuity
payment.
Infosys Foundation, the philanthropic arm of
Infosys Technologies Ltd., came into existence on 4th
December 1996 with the objective of fulfilling the social
responsibility of the company by supporting and
encouraging the underprivileged sections of society. The
Foundation has undertaken various initiatives in
providing medical facilities to remote rural areas,
organizing novel pension schemes and in aiding orphans
and street children. It has undertaken a large rural
education program titled "A library for every school"
under which 5500 libraries have been set up in
government schools spread across many villages.
The Tata Memorial Centre is not just India's
best cancer hospital. It is a global centre of excellence
where 70 per cent of patients get free primary care. About
10 to 12 million people the world over suffer from
cancer. Almost 52 per cent of them are from developing
countries. In India 800,000 are diagnosed with this
dreaded disease every day.
IBM - Japan's 'e-elder' initiative is a national
program using training materials and other support from
IBM Japan which will hire and train seniors as instructors
for other seniors in an effort to help elder citizens more
fully participate in a Web-based society.
Microsoft works closely with international
organizations such as the World Food Programme, Save
the Children, and Mercy Corps to provide technology-
based development assistance through the HEART
(Humanitarian Empowerment and Response through
Technology) program. More and more, global
organizations rely on technology to improve the
effectiveness of their humanitarian efforts around the
world.
The Social Initiatives Group (SIG) of ICICI
Bank Ltd works with a mission to build the capacities of
the poorest to participate in the larger economy. The
group identifies and supports initiatives designed to break
the intergenerational cycle of poor health and nutrition
ensure essential early childhood education and schooling
as well as access to basic financial services. Thus, by
promoting early child health, catalyzing universal
elementary education and maximizing access to micro
financial services, ICICI Bank believes that it can build
the capacities of India's poor to participate in larger
socio-economic processes and thereby spur the overall
development of the country. The SIG locates cost
effective and scalable initiatives and approaches that have
the potential to address these gaps and supports research
to understand their impact. This is undertaken in
collaboration with research agencies, nongovernmental
organizations (NGOs), companies, government
departments, local stakeholders and international
organizations.
HCC plays an active role in CSR initiatives in
the fields of Health, Education, Disaster Management,
and Environment. Disaster Resource Network DRN is a
worldwide initiative, promoted by the World Economic
Forum (WEF).Trained volunteers and equipment
resources from Engineering Construction & Logistics
companies will complement the existing efforts of
Government, NGO's and International Organizations in
disaster management. It was during the WEF annual meet
that the massive earthquake struck Gujarat in January
2001. The need for a trained and effective participation
from industry was first felt there. The members of
Engineering and Logistics segment of WEF came
together to establish this network. The idea was further
strengthened during the 9/11 incident where again the
industry participated in the relief operations. DRN
Worldwide was formally launched in New York in
January 2002. And shortly thereafter, DRN - India
Initiative was launched.
Reinventing Business - The Changing Face
of Corporate Social Responsibility
Simon Zadek a useful best practice five-stage maturity
model of how organizations deal with Corporate
Responsibility.
1. Defensive - "It's not our job to fix that" – Deny: In
the defensive stage, the company is faced with often
unexpected criticism, usually from civil activists and the
media but sometimes from direct stake-holders such as
customers, employees, and investors. The company's
responses are designed and implemented by legal and
communications teams and tend to involve either outright
rejections of allegations ("It didn't happen") or denials of
the links between the company's practices and the alleged
negative outcomes ("It wasn't our fault"). Think of Royal
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Dutch / Shell's handling of the controversy around carbon
emissions. For years, the company - along with the rest of
the energy sector - denied its responsibility for emissions
created by the production and distribution of its energy
products.
2. Compliance - "We'll do just as much as we have to"
– Adopt: At the compliance stage, it's clear that a
corporate policy must be established and observed,
usually in ways that can be made visible to critics.
Compliance is understood as a cost of doing business; it
creates value by protecting the company's reputation and
reducing the risk of litigation. The current public debate
on obesity highlights the same dynamics - food
companies' instinct is to simply aim for compliance,
while the public clearly wants a far greater commitment
from them.
3. Managerial - "It's the business, stupid" – Embed:
At the managerial stage, the company realizes that it's
facing a long-term problem that cannot be swatted away
with attempts at compliance or a public relations strategy.
The company will have to give managers the core
business responsibility for the problem and its solution.
Nike and other leading companies in the apparel and
footwear industries increasingly understand that
compliance with agreed-upon labor standards in their
global supply chains is difficult if not impossible without
changes to how they set procurement incentives, forecast
sales, and manage inventory.
4. Strategic - "It gives us a competitive edge" –
Integrate: A company at the strategic stage learns how
realigning its strategy to address responsible business
practices can give it a leg up on the competition and
contribute to the organization's long-term success.
Automobile companies know that their future depends on
their ability to develop environmentally safer forms of
mobility. Food companies are struggling to develop a
different consciousness about how their products affect
their customers' health.
5. Civil - "We need to make sure everybody does it" –
Promote: In the final civil stage, companies promote
collective action to address society's concerns.
Sometimes this is linked directly to strategy. For
instance, Diageo and other top alcohol companies know
that as sure as night follows day, restrictive legislation
will come unless they can drive the whole sector toward
responsible practices that extend well beyond fair
marketing. Among other activities, these companies have
been involved in educational initiatives that promote
responsible drinking.
Problem: Since July 1991 India has chartered a course,
which is supposed to take the country from a controlled
economy to a market economy. Economic democracy
advocates reliance on the free market to stimulate growth.
But it is also explicit that market mechanism is
inadequate to offer distributive justice. Recognizing this
the East Asian Economies built a frame work of
Institutions to increase the opportunities for the less
privileged to share in the benefits of growth via support
for small and medium enterprises, housing and health
services. The accent was not on direct income transfers or
on subsidizing specific commodities but on increasing
opportunities. With the continuous development of
market economy and customer literacy, industries had to
satisfy the customer's goods and services. This led to the
upcoming of, Quality Management, Standardization,
Customer Relationship Management,
Technology/Internet Revolution, Brand Building, After
Sales Service's, Value Addition, Customer Retention,
etc… This led to huge competition in the industrial
scenario. On analyzing the last few years, it could be
easily concluded that the customers and the society at
large have developed a different expectation. This
different expectation is the social responsibility of the
corporate world. The question that arises is whether "CSR
is an Old Wine in New Bottle or a Concept that needs to
be trickled down the Line”. Critics argue that CSR
distracts from the fundamental economic role of
businesses; others argue that it is nothing more than
superficial window-dressing; still others argue that it is
an attempt to preempt the role of governments as a
watchdog over powerful multinational corporations.
Nowadays firms have started using CSR as a strategy to
focus on new opportunities and respond to interrelated
economic, societal and environmental demands in the
marketplace. Many firms believe that this focus provides
a clear competitive advantage and stimulates corporate
innovation and creativity.
Arguments Underpinning CSR
Arguments offered favour of CSR can be broadly
classified into two camps - moral and economic.
1. A Moral Argument for CSR: While recognizing that
profits are necessary for any business entity to exist; all
groups in society should strive to add value and make life
better. Businesses rely on the society within which they
operate and could not exist or prosper in isolation. They
need the infrastructure that society provides, its source of
employees, not to mention its consumer base. CSR is
recognition of that inter-dependence and a means of
delivering on that obligation, to the mutual benefit of
businesses and the societies within which they are based.
2. An Economic Argument for CSR: An economic
argument in favor of CSR can also be made. It is an
argument of economic self - interest. Examples of
economic sphere that contain the range of CSR.
Corporate Governance: This encourages transparency in
management of day-to-day activities. Patriotism: All
business organizations should not try to avoid taxes. The
trade carried on by the business organizations must be
fair i.e. charging fair prices for the goods which they
purchase and charge reasonable prices for the products
they sell.
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Diversity: The ethnic makeup of population has been
changing rapidly. Business organizations should consider
these changes in ethnic make up of population.
Suggestions: In developing countries like India, it is
being clearly seen that the ground realities like
unemployment, availability of basic amenities,
corruption, poverty, education, etc… are not being
looked into "Practically". The viability of the
Government schemes and Projects are under the scanner.
The question that arises at this juncture – Is it the
Responsibility only of the Government? From the
viewpoint of renowned academicians, both the Public and
the Private Sector has to play a major Role. To create an
increasing database of customer the concept of an all
round CSR need to be put in place. CSR may have
become a hot topic in some management circles for the
past few years, but for a significant proportion of
ordinary employees it is completely irrelevant. This is
because CSR has not been made to understand down the
line.
Conclusion
Corporate social responsibility and volunteerism have no
boundaries and are not constrained by race, colour, or
religion. Sadly, concern for the community is often
mistaken for socialism. On the contrary, capitalism
thrives only when every citizen is an asset in economic
activity and has opportunities to succeed. Corporate
social responsibility is a culture and unwritten contract
with the community. This invisible culture can shape
brighter futures for nations. If employees don't see the
point of CSR initiatives, or understand the message,
initiatives are unlikely to be effective. The concept of
corporate social responsibility has gained prominence
from all avenues. Organizations must realize that
government alone will not be able to get success in its
endeavor to uplift the downtrodden of society. The
present societal marketing concept of companies is
constantly evolving and has given rise to a new concept-
Corporate Social Responsibility. Many of the leading
corporations across the world had realized the importance
of being associated with socially relevant causes as a
means of promoting their brands. It stems from the desire
to do well and get self-satisfaction in return as well as
societal obligation of business. The Indian corporate
sector are planning to introduce CSR in the small and
medium enterprises (SME) sector to increase its reach in
remote areas. Most of the companies throughout the
world had accepted that business is not just for making
money and this is evident through their involvement in
various community developmental activities. Many
Business firms had realized the importance of using
business ethics as a tool for retaining customers and
increasing its market share by highlighting the initiatives
it has taken for providing a clean environment for the
society. Also some companies started using the CSR as a
strategy, which aims at mutual development of company
and the community simultaneously.
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