An insight into the corporate social responsibility in India and understanding its roots and how serious industries are towards performing their Responsibilities towards society.
This document provides an introduction and background for a study on the corporate social responsibility (CSR) activities of ITC Limited, an Indian conglomerate, with a special focus on its E-Choupal initiative. The document outlines the research problem, objectives, and methodology for the study. It includes an index and lists of tables, graphs and images to be included. The study aims to examine how ITC's CSR activities, particularly E-Choupal, contribute to its success and serve as a model for effective CSR practices.
In India from ancient time social responsibility is known as social duty or
charity, which is changing its nature in broader aspect, known as
Corporate Social Responsibility. Corporate Social Responsibility is defining
as a concept whereby companies integrate social and environmental
concerns in their business operations and in their interaction with their
stakeholders on a voluntary basis. Now a day’s organisations have realised
that ultimate goal is not profit making besides this trust building is viable
and assert able with societal relationship. Many of the leading companies
had realised the importance of being associated with social relevant causes
as a means of promoting their brand. Though, Indian companies are
practicing the Corporate Social Responsibility for decades but still it is at
its growth. A lack of understanding, inadequately trained personnel, policy
etc further adds to the reach and effectiveness of Corporate Social
Responsibility programs. This paper tries to focuses on the present status of
Corporate Social Responsibility in India.
Keywords: Corporate Social Responsibility, Organisations, Companies Act, Charity.
Corporate social responsibility status in indiaTapasya123
In India from ancient time social responsibility is known as social duty or
charity, which is changing its nature in broader aspect, known as
Corporate Social Responsibility. Corporate Social Responsibility is defining
as a concept whereby companies integrate social and environmental
concerns in their business operations and in their interaction with their
stakeholders on a voluntary basis. Now a day’s organisations have realised
that ultimate goal is not profit making besides this trust building is viable
and assert able with societal relationship. Many of the leading companies
had realised the importance of being associated with social relevant causes
as a means of promoting their brand. Though, Indian companies are
practicing the Corporate Social Responsibility for decades but still it is at
its growth. A lack of understanding, inadequately trained personnel, policy
etc further adds to the reach and effectiveness of Corporate Social
Responsibility programs. This paper tries to focuses on the present status of
Corporate Social Responsibility in India.
C.PARAMASIVAN ,PERIYAR EVR COLLEGE , TIRUCHIRAPPALLI Corporate social respons...chelliah paramasivan
This document discusses corporate social responsibility (CSR) activities of Bharat Heavy Electricals Limited (BHEL), with a focus on BHEL's Tiruchirappalli unit. It provides background on BHEL and defines key terms used to analyze CSR data. Tables show BHEL's total turnover, profit, and CSR spending from 2006-2013, with CSR amounts increasing from Rs. 37 million to over Rs. 37 billion over this period. Trend analysis finds CSR spending increased over 10,000% from 2006-2013. A second table presents similar data for just the Tiruchirappalli unit over the same period. The document reviews literature on CSR and lists many CSR activities undertaken by BHEL
Master's thesis - CORPORATE SOCIAL RESPONSIBILITY: Strategy and impacts on fi...auderichon
Society is feeling more and more concerned about the environment and social issues caused, among other things, by relocation and environmental dumping. Globalization has actually raised some ethical issues which peak levels were attained, socially speaking, when apparel companies were denunciated for using sweatshops in developing countries, and environmentally speaking, with Shell’s Brent Spar platform scandal. Consequently, companies started to think of how they could improve their image, even their way of doing business and started to engage in Corporate Social Responsibility (CSR).
The purpose of this thesis is to understand why companies decide to engage in CSR and if CSR policies have impacts on firms’ financial performance. Thus, the research problem is the following: What characterizes Corporate Social Responsibility strategies and do they have an impact on financial performance?
In order to answer it, I will use first a review of the existing literature, then interviews performed with persons in charge of CSR/Sustainable Development (SD) in companies and opinion leaders will be analysed. To complement this part, a study on sustainability indexes followed by a specific outlook at the automobile sector and its impact on the environment will be undertaken.
The results show that Western multinational companies (MNCs) tend to be more and more engaged, with law pushing for that as well. Stakeholders have quite an influence on the process, but the main factor of success is the commitment of top management and the integration of CSR in corporate culture. Quantitative results are more mitigated and it cannot be clearly said that CSR favours or not financial performance. More prospective is needed to be definite in the answer.
Impact of Corporate Social Responsibility on consumers' preference for a bran...Muzamil Quadir
This document is a project report submitted in partial fulfillment of an MBA degree. It examines the impact of corporate social responsibility (CSR) on consumer preference for the Classmate brand of ITC Ltd. in India. The report contains an introduction, literature review on CSR definitions and relationships, analysis of data collected from consumers and retailers, findings and recommendations. Key findings from consumers include increased preference, sense of fulfillment and recommendation of Classmate due to its CSR initiatives in education, environment and women's empowerment. Retailers also rated ITC highly as a supplier due to factors like quality, sales performance and margins. The report evaluates how CSR positively influences brand trust and preference for Classmate.
This document discusses the corporate social responsibility (CSR) activities of Bharat Heavy Electricals Limited (BHEL) with respect to Tiruchirappalli, India. It provides background on BHEL, including that it was established in 1956 and has manufacturing units across India. The document then reviews literature on CSR and defines CSR. It discusses BHEL's profile and operations in Tiruchirappalli specifically, including turnover, profit, and amounts allocated to CSR. The overall purpose is to examine BHEL's CSR efforts in the Tiruchirappalli region.
This document provides an introduction and background for a study on the corporate social responsibility (CSR) activities of ITC Limited, an Indian conglomerate, with a special focus on its E-Choupal initiative. The document outlines the research problem, objectives, and methodology for the study. It includes an index and lists of tables, graphs and images to be included. The study aims to examine how ITC's CSR activities, particularly E-Choupal, contribute to its success and serve as a model for effective CSR practices.
In India from ancient time social responsibility is known as social duty or
charity, which is changing its nature in broader aspect, known as
Corporate Social Responsibility. Corporate Social Responsibility is defining
as a concept whereby companies integrate social and environmental
concerns in their business operations and in their interaction with their
stakeholders on a voluntary basis. Now a day’s organisations have realised
that ultimate goal is not profit making besides this trust building is viable
and assert able with societal relationship. Many of the leading companies
had realised the importance of being associated with social relevant causes
as a means of promoting their brand. Though, Indian companies are
practicing the Corporate Social Responsibility for decades but still it is at
its growth. A lack of understanding, inadequately trained personnel, policy
etc further adds to the reach and effectiveness of Corporate Social
Responsibility programs. This paper tries to focuses on the present status of
Corporate Social Responsibility in India.
Keywords: Corporate Social Responsibility, Organisations, Companies Act, Charity.
Corporate social responsibility status in indiaTapasya123
In India from ancient time social responsibility is known as social duty or
charity, which is changing its nature in broader aspect, known as
Corporate Social Responsibility. Corporate Social Responsibility is defining
as a concept whereby companies integrate social and environmental
concerns in their business operations and in their interaction with their
stakeholders on a voluntary basis. Now a day’s organisations have realised
that ultimate goal is not profit making besides this trust building is viable
and assert able with societal relationship. Many of the leading companies
had realised the importance of being associated with social relevant causes
as a means of promoting their brand. Though, Indian companies are
practicing the Corporate Social Responsibility for decades but still it is at
its growth. A lack of understanding, inadequately trained personnel, policy
etc further adds to the reach and effectiveness of Corporate Social
Responsibility programs. This paper tries to focuses on the present status of
Corporate Social Responsibility in India.
C.PARAMASIVAN ,PERIYAR EVR COLLEGE , TIRUCHIRAPPALLI Corporate social respons...chelliah paramasivan
This document discusses corporate social responsibility (CSR) activities of Bharat Heavy Electricals Limited (BHEL), with a focus on BHEL's Tiruchirappalli unit. It provides background on BHEL and defines key terms used to analyze CSR data. Tables show BHEL's total turnover, profit, and CSR spending from 2006-2013, with CSR amounts increasing from Rs. 37 million to over Rs. 37 billion over this period. Trend analysis finds CSR spending increased over 10,000% from 2006-2013. A second table presents similar data for just the Tiruchirappalli unit over the same period. The document reviews literature on CSR and lists many CSR activities undertaken by BHEL
Master's thesis - CORPORATE SOCIAL RESPONSIBILITY: Strategy and impacts on fi...auderichon
Society is feeling more and more concerned about the environment and social issues caused, among other things, by relocation and environmental dumping. Globalization has actually raised some ethical issues which peak levels were attained, socially speaking, when apparel companies were denunciated for using sweatshops in developing countries, and environmentally speaking, with Shell’s Brent Spar platform scandal. Consequently, companies started to think of how they could improve their image, even their way of doing business and started to engage in Corporate Social Responsibility (CSR).
The purpose of this thesis is to understand why companies decide to engage in CSR and if CSR policies have impacts on firms’ financial performance. Thus, the research problem is the following: What characterizes Corporate Social Responsibility strategies and do they have an impact on financial performance?
In order to answer it, I will use first a review of the existing literature, then interviews performed with persons in charge of CSR/Sustainable Development (SD) in companies and opinion leaders will be analysed. To complement this part, a study on sustainability indexes followed by a specific outlook at the automobile sector and its impact on the environment will be undertaken.
The results show that Western multinational companies (MNCs) tend to be more and more engaged, with law pushing for that as well. Stakeholders have quite an influence on the process, but the main factor of success is the commitment of top management and the integration of CSR in corporate culture. Quantitative results are more mitigated and it cannot be clearly said that CSR favours or not financial performance. More prospective is needed to be definite in the answer.
Impact of Corporate Social Responsibility on consumers' preference for a bran...Muzamil Quadir
This document is a project report submitted in partial fulfillment of an MBA degree. It examines the impact of corporate social responsibility (CSR) on consumer preference for the Classmate brand of ITC Ltd. in India. The report contains an introduction, literature review on CSR definitions and relationships, analysis of data collected from consumers and retailers, findings and recommendations. Key findings from consumers include increased preference, sense of fulfillment and recommendation of Classmate due to its CSR initiatives in education, environment and women's empowerment. Retailers also rated ITC highly as a supplier due to factors like quality, sales performance and margins. The report evaluates how CSR positively influences brand trust and preference for Classmate.
This document discusses the corporate social responsibility (CSR) activities of Bharat Heavy Electricals Limited (BHEL) with respect to Tiruchirappalli, India. It provides background on BHEL, including that it was established in 1956 and has manufacturing units across India. The document then reviews literature on CSR and defines CSR. It discusses BHEL's profile and operations in Tiruchirappalli specifically, including turnover, profit, and amounts allocated to CSR. The overall purpose is to examine BHEL's CSR efforts in the Tiruchirappalli region.
This document appears to be a dissertation submitted for a post graduate diploma in management. It discusses the impact of corporate social responsibility (CSR) activities on customers' perceptions of organizations and sales of their products/services. The dissertation focuses on case studies of Hindustan Unilever Limited (HUL), ITC Limited, and Procter & Gamble (P&G) in India. It includes an executive summary, introduction providing background on CSR in India, literature review, research methodology, secondary data analysis of the three companies' CSR initiatives, primary data collection and analysis of customer perceptions, and findings/conclusions. The author acknowledges their supervisor and other faculty for guidance.
This document is a project report submitted by Rajpal Raju Saipogu to the University of Mumbai for their Master of Commerce program. The report analyzes the corporate social responsibility (CSR) efforts of Vodafone, a major mobile network operator. It includes sections on the objectives, methodology, scope, literature review, and concept of CSR. The report will evaluate Vodafone's CSR strategy and assess customer awareness of its CSR initiatives through a survey. The primary data is collected from 30 Vodafone customers in India through a questionnaire.
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.
This document discusses corporate social responsibility (CSR) and the evolution of CSR practices in India, particularly for banks and other corporations. It provides details on the history and phases of CSR in India, the legal requirements for CSR under the Companies Act 2013, common CSR activities undertaken in India, and the Reserve Bank of India's guidelines on CSR for banks. The key points are that CSR has evolved from voluntary charity to an integral part of business operations, the Companies Act 2013 mandates CSR spending for large companies, and banks undertake CSR activities focused on financial inclusion, priority sector lending, and rural development.
Framework of social orientations
Management and social theories
Five types of managers
Organization classification
International framework for corporate social responsibility
Millennium development goals
Sustainable development goals
Relationship between CSR and MDGs
United Nations (UN) Global Compact 2011
UN guiding principles on business and human rights
OECD CSR policy tool
ILO tri-partite declaration of principles on multinational enterprises & social policy
Present Scenario of Corporate Social Responsibilities in BangladeshMasum Hussain
The purpose of business is to make money. However, the profit motive is sometimes viewed as less than virtuous because it emphasizes self-interest. Nevertheless, self-interest is not the same as selfishness, which emphasizes one's own interests at others' expense. Self interest is simply a concern for financial reward and is arguably necessary if society is to be maximally productive and efficiently allocate its resources. Business is an inseparable and embedded part of the society. In addition to its economic role in society, business also has several other roles and responsibilities towards society viz. responsible conduct of business activities while pursuing economic gains; the social and environmental responsibilities of the business towards its stakeholders; and business’s contributions that would benefit the society at large. Companies around the globe are recognizing the importance of engaging in Corporate Social Responsibility (CSR) that is crucial to their survival and growth. It is evident that when an organization integrates appropriate CSR practices in its strategy that embed the societal and environmental concerns, these practices undoubtedly bring tangible benefits to the business along with a sustainable competitive advantage.
It is mandatory for companies to conform to the legal responsibilities as they are prescribed by law. So, organizations have no alternative but to comply with the basic law of the land. On the other hand, Ethical responsibilities of corporations are taken as additional responsibilities going beyond legal compliance and profit making and include those that firms believe are the right things to do. Ethical responsibility originates from humanistic, religious and moral orientation of corporations. The voluntary responsibilities to the society refer to the discretionary nature of obligations rooted in the altruistic principles which are not required by law. The motivation for such sense of responsibilities arises from the reciprocal obligation of giving back to the society in exchange of profit and power that companies receive from society. This school of thought gave rise to CSR which is seen as continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce, their families, local community, and society at all, including the environment. Even though Bangladesh is one of the world’s poorest countries, CSR activities in Bangladesh have risen significantly in importance. It is believed that the interest in CSR initiatives in Bangladesh has been fueled by MNCs’ global activities.
CSR at TATA Motors and Wipro_MMS_finance_03_social_projectABIAUGUSTINE1
This project report is the result of the learnings and techniques adopted by Abi Augustine during his winter project program which is a subject of Mumbai University MMS Semester IV.
The inspiration for this project titled “A Case Study On The Corporate Social Responsibility Of The Selected Indian Companies’’ is to study about the Corporate social responsibility of the selected Indian Companies and to make a highlight of the activities done by them in 2019 and also to make a comparison between the two.
Corporate Social Responsibility prevailed in India for a long time but it was considered as a part of philanthropy or charity. With the advent of Corporate Social Responsibility provisions, it has got the legal framework and is become a duty of the corporates to give back from the profits to the society, for the betterment and improvement of the society. With due consideration to the fact that “profitability” is the primary force and motivation for all the development on this front. Due to this the cut-throat competition increased between business and to then differentiate themselves companies are using the Corporate Social Responsibility provision to create a brand image and to gain loyal customers by putting light on the initiatives taken by them and how they are giving back to the society. Companies cannot rule out the fact that they survive because of the society and therefore equivalent importance should be given to the society as they do to their businesses. Thus the study has revealed that companies use their Corporate Social Responsibility policy to increase their profits.
Tata Motors and Wipro Limited
The purpose of business is to make money. However, the profit motive is sometimes viewed as less than virtuous because it emphasizes self-interest. Nevertheless, self-interest is not the same as selfishness, which emphasizes one's own interests at others' expense. Self interest is simply a concern for financial reward and is arguably necessary if society is to be maximally productive and efficiently allocate its resources. Business is an inseparable and embedded part of the society. In addition to its economic role in society, business also has several other roles and responsibilities towards society viz. responsible conduct of business activities while pursuing economic gains; the social and environmental responsibilities of the business towards its stakeholders; and business’s contributions that would benefit the society at large. Companies around the globe are recognizing the importance of engaging in Corporate Social Responsibility (CSR) that is crucial to their survival and growth. It is evident that when an organization integrates appropriate CSR practices in its strategy that embed the societal and environmental concerns, these practices undoubtedly bring tangible benefits to the business along with a sustainable competitive advantage.
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.
Empirical Study of the Components of CSR Practices in India: A Comparison of...Dr. Madhu Verma
This document summarizes an empirical study that compares the corporate social responsibility (CSR) practices of private Indian companies, multinational companies, and public sector companies in India. The study analyzed data from 145 companies across various industries. It found that while the components of CSR practices are largely similar between company types, there are some differences in priorities. For private Indian companies, the key CSR factors were employee welfare, environmental protection, community development, and community affairs. For multinationals, the factors were community welfare, employee development and safety, environmental protection, compliance, employment generation, and community support. For public sector companies, the factors were employee welfare and social support, sustainable development, community development, and health and scholarship programs.
This document provides an overview and comparative study of Corporate Social Responsibility (CSR) initiatives in the power generation and distribution sector of India. It analyzes CSR activities and budgets of five major public sector undertakings in the power sector: National Thermal Power Corporation, National Hydroelectric Power Corporation, Power Grid Corporation of India, Power Finance Corporation, and Rural Electrification Corporation. The study finds that while CSR spending and activities have increased, initiatives lack focus, expertise, coordination, transparency and impact assessment. It recommends extensive documentation, collaboration with experts and stakeholders, use of media, and flagship projects to improve CSR practices in the power sector.
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.
Corporate social responsibility is contemplated as overarching strategy integrated into business operation, value-added chain and decision making approach across the corporate world. Infosys in ITC sector harmonizes with corporate ethics in the Indian corporate domain. This paper basically concentrates on how the activities of Infosys, the selected company endorses its responsibility towards society veraciously and how it precipitates its sustainable headway. The study is descriptive in nature and mobilizes mainly secondary data for the purpose. The results proffer that corporate social responsibility is a device of self-appraisal for the company in case of social audit which eventually emanates its sustainable survivability.
Bangladesh is one of the world’s poorest countries. That’s why the CSR activities is very much important of this country in different areas.
There are so many company or industries are present in the country which contributes a lot of donation in different areas and private bank is one of them and the contribution by commercial banks to CSR activities is very significant in different areas such as:
health sector,
education sector,
disaster management,
Sports,
This document summarizes a report on attaining sustainable growth through corporate social responsibility (CSR). It begins with an introduction outlining the challenges faced by Indian corporations and how CSR can help overcome them. It then defines CSR and discusses different levels and types of CSR. Case studies analyzing people's perceptions of CSR are presented. Solutions proposed include a national carbon credit rating system, CSR credits, and CSR standards. The benefits of CSR discussed include cost cutting, brand enhancement, and public goodwill. The conclusion is that businesses need CSR to thrive in a healthy society and environment.
Stakeholders Perceptions regarding Usefulness of Corporate Social Responsibil...professionalpanorama
A business enterprise is considered as a social unit which conducts its activities within the
society; therefore, it is perceived that business houses should fulfil its responsibilities towards
society. Traditional management approaches have regarded the business unit as a robust
economic engine which drives shareholders wealth. But modern management approach has
hold that transparent economic and social progress should go hand in hand. This concept led
to the emergence of Corporate Social Reporting and Disclosure (CSRD). It provides better
understanding on social activities of a business towards various stakeholders like employees,
investors, consumers, government, suppliers, shareholders and the whole community which
helps an entity to make cordial relationship with its stakeholders. Unfortunately, despite of
increasing attention towards CSR, the development of CSRD is very slow especially in the
developing countries like India. There has been very little work which has studied how Indian
companies gratify perceived needs of different stakeholders for information relating to social
and environmental impacts. Thus, this paper aims at exploring the views and perceptions
amongst different stakeholders for evaluating the usefulness of corporate social reporting
and disclosure for them. The nature of study was descriptive research and data source was
primarily primary. It may also be termed as Ex post facto research because the researcher has
no control over the variables and has to report what has happened or what is happening.
Based on the research outcomes, some recommendations are suggested in relation to
corporate social reporting and disclosure practices in general and within Indian context in particular for future development of corporate social reporting and disclosures in transitional
economies like India.
Corporate Social Responsibility Practices of Commercial Banks in Bangladesh: ...IOSR Journals
This paper explores how private commercial banks practices Corporate Social Responsibility (CSR) in Bangladesh in conserved the case of Southeast Bank Ltd.. In keeping with global movement, CSR is being seen as the source of new competition edge for the banking sectors of Bangladesh. Banks’ of Bangladesh practices CSR to not only improve community relations but also as source of significant commercial benefit. Southeast Bank Ltd. practices CSR under the rules and regulation of Bangladesh Bank. The study based on annual report of 2012 of Southeast Bank Ltd. This study shows that Southeast Bank expenses BDT36.85 million in the year 2012 in the area of education, health, community development, environmental issue, art and culture, sports etc.. Nevertheless, bank expenses highest amount in education sector through scholarship program in Bangladesh whereby school, college and university education tuition and expenses have fully paid for unconditionally. The study can help banking manger’s understand what should be done for the benefits of customers and the community for sustainability.
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.
An empirical investigation of managerial perceptions in indian organisations ...Dr. Madhu Verma
This document summarizes a research study that investigated the perceptions of CSR managers in Indian organizations towards corporate social responsibility after it became mandatory in India through legislation in 2013. The study involved surveying 163 CSR managers from 250 large Indian companies using questionnaires and interviews. The findings revealed that Indian organizations have embraced CSR and see it as important for community welfare and sustainability. While some still view CSR as costly, most managers recognized potential benefits like improved brand image and reputation. The study concluded there has been a shift from a traditional philanthropic view of CSR to more modern views that integrate CSR into business strategy to generate long-term value. However, the study was limited by only surveying CSR managers and not considering other potential influences on perceptions.
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
1. Corporate social responsibility in India is evolving from a focus on business philanthropy to broader activities integrated into core business strategy, in response to legal/regulatory pressures and public opinion.
2. CSR frameworks include the triple bottom line of economic, social and environmental responsibilities. Carroll's pyramid also outlines CSR as including economic, legal, ethical, and philanthropic responsibilities.
3. For developing countries like India, CSR focuses more on philanthropic responsibilities due to cultural and economic factors. The government regulates CSR through laws requiring companies to spend on social projects.
This document discusses corporate social responsibility (CSR) in India. It defines CSR and outlines its core elements. CSR in India has traditionally been seen as philanthropic activity. The Companies Act of 2013 introduced CSR and requires companies over a certain size to spend on CSR activities like poverty alleviation, education, health, environment and more. While many large companies in India implement CSR programs, smaller companies may struggle to meet the legal requirements. The document examines various companies' CSR programs and budgets in India.
This document appears to be a dissertation submitted for a post graduate diploma in management. It discusses the impact of corporate social responsibility (CSR) activities on customers' perceptions of organizations and sales of their products/services. The dissertation focuses on case studies of Hindustan Unilever Limited (HUL), ITC Limited, and Procter & Gamble (P&G) in India. It includes an executive summary, introduction providing background on CSR in India, literature review, research methodology, secondary data analysis of the three companies' CSR initiatives, primary data collection and analysis of customer perceptions, and findings/conclusions. The author acknowledges their supervisor and other faculty for guidance.
This document is a project report submitted by Rajpal Raju Saipogu to the University of Mumbai for their Master of Commerce program. The report analyzes the corporate social responsibility (CSR) efforts of Vodafone, a major mobile network operator. It includes sections on the objectives, methodology, scope, literature review, and concept of CSR. The report will evaluate Vodafone's CSR strategy and assess customer awareness of its CSR initiatives through a survey. The primary data is collected from 30 Vodafone customers in India through a questionnaire.
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.
This document discusses corporate social responsibility (CSR) and the evolution of CSR practices in India, particularly for banks and other corporations. It provides details on the history and phases of CSR in India, the legal requirements for CSR under the Companies Act 2013, common CSR activities undertaken in India, and the Reserve Bank of India's guidelines on CSR for banks. The key points are that CSR has evolved from voluntary charity to an integral part of business operations, the Companies Act 2013 mandates CSR spending for large companies, and banks undertake CSR activities focused on financial inclusion, priority sector lending, and rural development.
Framework of social orientations
Management and social theories
Five types of managers
Organization classification
International framework for corporate social responsibility
Millennium development goals
Sustainable development goals
Relationship between CSR and MDGs
United Nations (UN) Global Compact 2011
UN guiding principles on business and human rights
OECD CSR policy tool
ILO tri-partite declaration of principles on multinational enterprises & social policy
Present Scenario of Corporate Social Responsibilities in BangladeshMasum Hussain
The purpose of business is to make money. However, the profit motive is sometimes viewed as less than virtuous because it emphasizes self-interest. Nevertheless, self-interest is not the same as selfishness, which emphasizes one's own interests at others' expense. Self interest is simply a concern for financial reward and is arguably necessary if society is to be maximally productive and efficiently allocate its resources. Business is an inseparable and embedded part of the society. In addition to its economic role in society, business also has several other roles and responsibilities towards society viz. responsible conduct of business activities while pursuing economic gains; the social and environmental responsibilities of the business towards its stakeholders; and business’s contributions that would benefit the society at large. Companies around the globe are recognizing the importance of engaging in Corporate Social Responsibility (CSR) that is crucial to their survival and growth. It is evident that when an organization integrates appropriate CSR practices in its strategy that embed the societal and environmental concerns, these practices undoubtedly bring tangible benefits to the business along with a sustainable competitive advantage.
It is mandatory for companies to conform to the legal responsibilities as they are prescribed by law. So, organizations have no alternative but to comply with the basic law of the land. On the other hand, Ethical responsibilities of corporations are taken as additional responsibilities going beyond legal compliance and profit making and include those that firms believe are the right things to do. Ethical responsibility originates from humanistic, religious and moral orientation of corporations. The voluntary responsibilities to the society refer to the discretionary nature of obligations rooted in the altruistic principles which are not required by law. The motivation for such sense of responsibilities arises from the reciprocal obligation of giving back to the society in exchange of profit and power that companies receive from society. This school of thought gave rise to CSR which is seen as continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce, their families, local community, and society at all, including the environment. Even though Bangladesh is one of the world’s poorest countries, CSR activities in Bangladesh have risen significantly in importance. It is believed that the interest in CSR initiatives in Bangladesh has been fueled by MNCs’ global activities.
CSR at TATA Motors and Wipro_MMS_finance_03_social_projectABIAUGUSTINE1
This project report is the result of the learnings and techniques adopted by Abi Augustine during his winter project program which is a subject of Mumbai University MMS Semester IV.
The inspiration for this project titled “A Case Study On The Corporate Social Responsibility Of The Selected Indian Companies’’ is to study about the Corporate social responsibility of the selected Indian Companies and to make a highlight of the activities done by them in 2019 and also to make a comparison between the two.
Corporate Social Responsibility prevailed in India for a long time but it was considered as a part of philanthropy or charity. With the advent of Corporate Social Responsibility provisions, it has got the legal framework and is become a duty of the corporates to give back from the profits to the society, for the betterment and improvement of the society. With due consideration to the fact that “profitability” is the primary force and motivation for all the development on this front. Due to this the cut-throat competition increased between business and to then differentiate themselves companies are using the Corporate Social Responsibility provision to create a brand image and to gain loyal customers by putting light on the initiatives taken by them and how they are giving back to the society. Companies cannot rule out the fact that they survive because of the society and therefore equivalent importance should be given to the society as they do to their businesses. Thus the study has revealed that companies use their Corporate Social Responsibility policy to increase their profits.
Tata Motors and Wipro Limited
The purpose of business is to make money. However, the profit motive is sometimes viewed as less than virtuous because it emphasizes self-interest. Nevertheless, self-interest is not the same as selfishness, which emphasizes one's own interests at others' expense. Self interest is simply a concern for financial reward and is arguably necessary if society is to be maximally productive and efficiently allocate its resources. Business is an inseparable and embedded part of the society. In addition to its economic role in society, business also has several other roles and responsibilities towards society viz. responsible conduct of business activities while pursuing economic gains; the social and environmental responsibilities of the business towards its stakeholders; and business’s contributions that would benefit the society at large. Companies around the globe are recognizing the importance of engaging in Corporate Social Responsibility (CSR) that is crucial to their survival and growth. It is evident that when an organization integrates appropriate CSR practices in its strategy that embed the societal and environmental concerns, these practices undoubtedly bring tangible benefits to the business along with a sustainable competitive advantage.
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.
Empirical Study of the Components of CSR Practices in India: A Comparison of...Dr. Madhu Verma
This document summarizes an empirical study that compares the corporate social responsibility (CSR) practices of private Indian companies, multinational companies, and public sector companies in India. The study analyzed data from 145 companies across various industries. It found that while the components of CSR practices are largely similar between company types, there are some differences in priorities. For private Indian companies, the key CSR factors were employee welfare, environmental protection, community development, and community affairs. For multinationals, the factors were community welfare, employee development and safety, environmental protection, compliance, employment generation, and community support. For public sector companies, the factors were employee welfare and social support, sustainable development, community development, and health and scholarship programs.
This document provides an overview and comparative study of Corporate Social Responsibility (CSR) initiatives in the power generation and distribution sector of India. It analyzes CSR activities and budgets of five major public sector undertakings in the power sector: National Thermal Power Corporation, National Hydroelectric Power Corporation, Power Grid Corporation of India, Power Finance Corporation, and Rural Electrification Corporation. The study finds that while CSR spending and activities have increased, initiatives lack focus, expertise, coordination, transparency and impact assessment. It recommends extensive documentation, collaboration with experts and stakeholders, use of media, and flagship projects to improve CSR practices in the power sector.
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.
Corporate social responsibility is contemplated as overarching strategy integrated into business operation, value-added chain and decision making approach across the corporate world. Infosys in ITC sector harmonizes with corporate ethics in the Indian corporate domain. This paper basically concentrates on how the activities of Infosys, the selected company endorses its responsibility towards society veraciously and how it precipitates its sustainable headway. The study is descriptive in nature and mobilizes mainly secondary data for the purpose. The results proffer that corporate social responsibility is a device of self-appraisal for the company in case of social audit which eventually emanates its sustainable survivability.
Bangladesh is one of the world’s poorest countries. That’s why the CSR activities is very much important of this country in different areas.
There are so many company or industries are present in the country which contributes a lot of donation in different areas and private bank is one of them and the contribution by commercial banks to CSR activities is very significant in different areas such as:
health sector,
education sector,
disaster management,
Sports,
This document summarizes a report on attaining sustainable growth through corporate social responsibility (CSR). It begins with an introduction outlining the challenges faced by Indian corporations and how CSR can help overcome them. It then defines CSR and discusses different levels and types of CSR. Case studies analyzing people's perceptions of CSR are presented. Solutions proposed include a national carbon credit rating system, CSR credits, and CSR standards. The benefits of CSR discussed include cost cutting, brand enhancement, and public goodwill. The conclusion is that businesses need CSR to thrive in a healthy society and environment.
Stakeholders Perceptions regarding Usefulness of Corporate Social Responsibil...professionalpanorama
A business enterprise is considered as a social unit which conducts its activities within the
society; therefore, it is perceived that business houses should fulfil its responsibilities towards
society. Traditional management approaches have regarded the business unit as a robust
economic engine which drives shareholders wealth. But modern management approach has
hold that transparent economic and social progress should go hand in hand. This concept led
to the emergence of Corporate Social Reporting and Disclosure (CSRD). It provides better
understanding on social activities of a business towards various stakeholders like employees,
investors, consumers, government, suppliers, shareholders and the whole community which
helps an entity to make cordial relationship with its stakeholders. Unfortunately, despite of
increasing attention towards CSR, the development of CSRD is very slow especially in the
developing countries like India. There has been very little work which has studied how Indian
companies gratify perceived needs of different stakeholders for information relating to social
and environmental impacts. Thus, this paper aims at exploring the views and perceptions
amongst different stakeholders for evaluating the usefulness of corporate social reporting
and disclosure for them. The nature of study was descriptive research and data source was
primarily primary. It may also be termed as Ex post facto research because the researcher has
no control over the variables and has to report what has happened or what is happening.
Based on the research outcomes, some recommendations are suggested in relation to
corporate social reporting and disclosure practices in general and within Indian context in particular for future development of corporate social reporting and disclosures in transitional
economies like India.
Corporate Social Responsibility Practices of Commercial Banks in Bangladesh: ...IOSR Journals
This paper explores how private commercial banks practices Corporate Social Responsibility (CSR) in Bangladesh in conserved the case of Southeast Bank Ltd.. In keeping with global movement, CSR is being seen as the source of new competition edge for the banking sectors of Bangladesh. Banks’ of Bangladesh practices CSR to not only improve community relations but also as source of significant commercial benefit. Southeast Bank Ltd. practices CSR under the rules and regulation of Bangladesh Bank. The study based on annual report of 2012 of Southeast Bank Ltd. This study shows that Southeast Bank expenses BDT36.85 million in the year 2012 in the area of education, health, community development, environmental issue, art and culture, sports etc.. Nevertheless, bank expenses highest amount in education sector through scholarship program in Bangladesh whereby school, college and university education tuition and expenses have fully paid for unconditionally. The study can help banking manger’s understand what should be done for the benefits of customers and the community for sustainability.
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.
An empirical investigation of managerial perceptions in indian organisations ...Dr. Madhu Verma
This document summarizes a research study that investigated the perceptions of CSR managers in Indian organizations towards corporate social responsibility after it became mandatory in India through legislation in 2013. The study involved surveying 163 CSR managers from 250 large Indian companies using questionnaires and interviews. The findings revealed that Indian organizations have embraced CSR and see it as important for community welfare and sustainability. While some still view CSR as costly, most managers recognized potential benefits like improved brand image and reputation. The study concluded there has been a shift from a traditional philanthropic view of CSR to more modern views that integrate CSR into business strategy to generate long-term value. However, the study was limited by only surveying CSR managers and not considering other potential influences on perceptions.
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
1. Corporate social responsibility in India is evolving from a focus on business philanthropy to broader activities integrated into core business strategy, in response to legal/regulatory pressures and public opinion.
2. CSR frameworks include the triple bottom line of economic, social and environmental responsibilities. Carroll's pyramid also outlines CSR as including economic, legal, ethical, and philanthropic responsibilities.
3. For developing countries like India, CSR focuses more on philanthropic responsibilities due to cultural and economic factors. The government regulates CSR through laws requiring companies to spend on social projects.
This document discusses corporate social responsibility (CSR) in India. It defines CSR and outlines its core elements. CSR in India has traditionally been seen as philanthropic activity. The Companies Act of 2013 introduced CSR and requires companies over a certain size to spend on CSR activities like poverty alleviation, education, health, environment and more. While many large companies in India implement CSR programs, smaller companies may struggle to meet the legal requirements. The document examines various companies' CSR programs and budgets in India.
7 corporate social responsibility perspectives and challenges in rural indiachelliah paramasivan
This document discusses corporate social responsibility (CSR) perspectives and challenges in rural India. It begins with defining CSR and noting its importance in India given that most of the population lives in rural areas. The document then reviews literature on CSR practices and initiatives in India. It outlines the objectives and methodology of the study, which examines CSR programs and their impact in rural areas by analyzing 6 companies. The results and discussion section describes the CSR policies and initiatives of these companies in areas like education, healthcare, infrastructure, and livelihood generation. It finds that while companies are actively engaging in rural CSR, there are still challenges to be addressed like lack of coordination and monitoring of projects.
This document discusses corporate social responsibility (CSR) in India, including its dimensions and challenges. It begins by providing background on CSR and defining it as companies integrating social and environmental concerns voluntarily into their business operations and interactions with stakeholders. The document then examines drivers of CSR like demands for disclosure, customer and investor pressure. It outlines dimensions of CSR like economic, legal, ethical and discretionary responsibilities. Challenges of CSR in India are also summarized, such as lack of community participation, need to build local capacities, issues of transparency and non-availability of clear guidelines. Examples are provided of CSR practices by Indian companies Reliance and Tata.
Corporate social responsibility_csr_overKush Juthani
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 document provides an overview of Mahindra & Mahindra's corporate social responsibility activities in India. It discusses that Mahindra & Mahindra engages in various CSR initiatives focused on education, disaster relief, and community development. Some of the key CSR programs and initiatives discussed include the K.C. Mahindra Education Trust, which provides scholarships and education funding; Mahindra Academies, which are schools established near factories for employees' children; disaster relief support during events like tsunamis and earthquakes; and transforming municipal gardens in cities. The document analyzes how Mahindra & Mahindra integrates social responsibility into its business operations through these and other community programs.
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.
This document discusses the evolution of corporate social responsibility (CSR) in India from philanthropy to mandatory CSR. It notes that traditionally, CSR in India was seen as philanthropic activity performed voluntarily by companies. However, global influences and demands from communities have made CSR more strategic and linked to business. The Companies Act of 2013 introduced CSR to the forefront in India and mandates disclosure of CSR activities. The objective of the study is to analyze the rationale for making CSR spending mandatory in India given its development needs and uneven distribution of growth benefits.
This document summarizes a study on corporate social responsibility (CSR) practices of Bharti Airtel Limited and Reliance Industries Limited in India. It finds that the majority of opinion leaders agree CSR will be important in the future and positively impact company reputation and share prices. The study analyzed the CSR activities reported in the directors' reports of both companies, such as education initiatives and environmental programs. It concludes that as globalization increases corporate scale, CSR becomes more crucial to balance business needs with social and environmental responsibilities.
This document summarizes a research article about corporate social responsibility (CSR) in India. It discusses the key concepts and dimensions of CSR including economic, legal, ethical, and philanthropic responsibilities. It also analyzes factors driving CSR practices in Indian companies such as cost management, tax relief, customer demand, and government pressure. The objectives of the research are outlined, and prior literature on defining CSR and examining its challenges is reviewed. Issues and challenges with implementing CSR in India are explored.
Corporate social responsibility of bhel with respect to tiruchirappalliRAVICHANDIRANG
The term became popular in the 1960’s and has remained a term used indiscriminately by
many to cover legal and moral responsibility more narrowly construed. World business council for
sustainable development regards Corporate Social Responsibility as engine for the social dimension
which supports companies to fulfill their responsibilities as good citizens and defines Corporate Social
Responsibility as business commitment to contribute to sustainable economic development, working
with employees, their families, local community and society at large to improve their quality of life
(WBCSD, 2006). This paper attempts to discuss the nature of Corporate Social Responsibility, profile
of BHEL in whole as well as in particular of Tiruchirappalli unit, Turnover, Profit After Tax and amount
sanctioned to Corporate Social Responsibility by BHEL during the study period.
72 corporate social responsibility of bhel with respect to tiruchirappallichelliah paramasivan
This document discusses corporate social responsibility (CSR) activities of Bharat Heavy Electricals Limited (BHEL), with a focus on BHEL's Tiruchirappalli unit. It provides background on BHEL and defines key terms used to analyze CSR data. Tables show BHEL's total turnover, profit, and CSR spending from 2006-2013, with CSR amounts increasing from Rs. 37 million to over Rs. 37 billion over this period. Trend analysis finds CSR spending increased over 10,000% from 2006-2013. A second table presents similar data for just the Tiruchirappalli unit over the same period. The document outlines many CSR activities conducted by BHEL in areas like education,
Corporate Social Responsibility and its alignment with Business needs and Soc...Rupak Ghosh
Ministry of Corporate affairs is encouraging the companies to have some CSR activities. The companies are taking some Social Welfare activities to show that they have CSR activities. However a proper CSR policy should not merely some social welfare activities but a holistic responsibility of business organization towards its shareholders, employees, consumers, related communities and environment however it’s sometime neglected. Companies may have sound HR, Marketing, Operation policies etc. but somehow they are confused regarding their CSR policies. They are sometime depending on some social welfare organizations who have very limited knowledge toward the need and responsibility of business organizations. Unoptimized CSR Activities is not creating any value addition to the company as well as to the society in true sense. A proper structure for CSR policy is required to be developed so that companies can exercise its responsibility towards 3P’s (Profit, People and planet) effectively.
This study is done by combining primary data with secondary data related to CSR Activity of some major companies, in order to move forward in designing road map for future CSR activities.
CSR Activities of Companies having manufacturing Infrastructure like SAIL, Indian Oil, Power Sectors like NTPC, Adani Power, Tata Power etc. focused on defensive CSR Activities such as, Activities related to Environment, Care and Development of local community. Companies of Service Sector like Banking Sector like SBI, IDBI, HDFC etc are not focused to any fixed area.
Despite of some limitations the study addressed a scientific approach in this aspect.
Study of Corporate Social Responsibility in India and its impact on business ...Vishal Gupta
This project report explores corporate social responsibility (CSR) in India through a study of top Indian corporations. The report finds that while some corporations have structured CSR programs, many others take a more superficial approach. CSR activities commonly include partnering with NGOs, funding education and healthcare initiatives, and engaging with local communities. The government also influences CSR through new regulations requiring large companies to dedicate a percentage of profits to CSR. Overall, the study concludes that CSR benefits society through improved living conditions and entrepreneurship, benefits businesses by enhancing their reputation and opportunities in emerging markets, and benefits the government by supporting social development goals.
This document summarizes research on the relationship between corporate social responsibility (CSR) and financial performance. It reviews definitions of CSR from various scholars, with no universally agreed upon definition. It also examines factors that contribute to CSR like community involvement, employee treatment, and environmental initiatives. The document discusses theories on the relationship between CSR and financial performance, citing literature that argues for both positive and negative relationships. It analyzes several studies that have attempted to empirically test the relationship but have found mixed or inconclusive results.
This document summarizes an article from the International Journal of Management that examines the relationship between corporate social responsibility and financial performance. The article reviews definitions of CSR from various scholars, noting there is no universally agreed upon definition. It examines factors that contribute to CSR and explores how CSR may impact financial performance based on a company's contributions in its industry. The article also reviews research techniques used in similar studies. The summary provides context on the journal, identifies the topic and objectives of the article, and briefly discusses what information it contains to give an overall understanding of the document.
This document summarizes an article from the International Journal of Management that examines the relationship between corporate social responsibility and financial performance. The article reviews definitions of CSR from various scholars, noting there is no universally agreed upon definition. It examines factors that contribute to CSR and explores how CSR may impact financial performance based on a company's contributions in its industry. The article also reviews research techniques used in similar studies. The summary provides key definitions and concepts discussed in the document to give an overview of the topic and goals of the article.
This document discusses corporate social responsibility (CSR), including definitions of CSR, elements and dimensions of CSR, models of CSR, theoretical justifications for CSR, implementation frameworks, factors to consider, common mistakes, advantages and disadvantages. It provides examples of CSR initiatives by companies like Microsoft, Starbucks, and initiatives and scandals involving companies like Nike and Coca-Cola India. It also briefly discusses one CSR initiative in Pakistan by PTCL.
A Study Of Corporate Social Responsibility Practices And Its Effect On SocietyPedro Craggett
This document summarizes a study on corporate social responsibility (CSR) practices of telecom companies in Afghanistan and their impact on society. The study examines CSR activities of six major telecom companies in areas like education, health, sports and environmental protection. It reviews literature on CSR theories and models. The objectives are to understand CSR practices in the Afghan telecom sector, examine their effect on society, and suggest a CSR model for private firms. The document provides background on CSR and reviews key CSR theories including stakeholder theory, triple bottom line theory and resource-based view theory. It also discusses models of CSR proposed in previous studies.
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1. Corporate Social
Responsibility in
‘INDIA’
Swathy Mendiratta
Supervisor’s Name: Prof. Ruma Saha
Dr. Kunal chattopadhyay.
Prof. Manisha Telraja
(Vivekananda College of
empowerment)
2013
Swathy Mendiratta
Weekend M.B.A IInd Semester (Roll No: 06)
(Punjab Technical University)
2. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 2
Corporate Social
Responsibility in ‘INDIA’
Swathy Mendiratta
ABSTRACT : The study gives a detailed description of what C.S.R
actually stands for and majorly it views the general outlook weather
companies are really taking a genuine initiative towards the benefits of
the society or it’s just a way to portray a picture perfect image of the
company when they may be acting in unethical ways. Also
understanding the relationship between corporate social responsibility
and corporate governance.
By Swathy Mendiratta
(Punjab Technical University)
Weekend M.B.A IInd Semester, Roll No:06
3. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 3
ACKNOWLEDGEMENT:
I would like to express my special heartiest thanks of gratitude to my
professor “Ruma Saha” who was my soul guide for my journal on
“Corporate Social Responsibility” and who has also taken the pain of
taking out her time and going through my entire journal and helping me
correct it with care and attention. My deep sense of gratitude goes to Dr.
Kunal Chattopadhyay who was always there to extend his hand of
assistance whenever required, also I owe the computer faculties and
library staff for allowing us to use the library books and facilities in a
liberal way that allowed me to explore the topic and do the further
required research for the thesis.
I would like to express my deepest feelings of appreciation
towards my institution, my college faculty members, and even non staff
members and college associates and friends who have always directly
and indirectly supported all of us students in a way or the other.
In addition, a thank you to Mr Arijit Mondal, Project Manager Tata
Steel, Sharmistha Mukherjee, H.R associate in Deloitte, Kavita
Mendiratta, Talent Acquisition in Emerson Design Engineering
Center, Pratyusha Ryali, Hr in Wipro, and Rahul Halder, Hr in
Yellow Box Hr Services Pvt Ltd, Kapil Mendiratta, Ex- business
analyst and software developer at E-valueserve, who have helped me
out a lot to explore the topic by sharing their crucial time with me
helping me learn a lot indeed. And also not to forget, I would like to
extend my gratitude towards my family members and well wishers for
their support throughout.
(Punjab Technical University)
Date: 18 / 8 / 2013
5. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 5
1. INTRODUCTION:
An overview into corporate governance and corporate social
responsibility:
The basic idea of Corporate Governance and Corporate Social
Responsibility (C.S.R) has arrived from the Western countries, where
their practices have developed tremendously in the last decade. During
this time the idea has spread to other parts of the globe mainly because
of the activities of Multinational National Companies. Corporate
Governance and C.S.R are actually two related and interrelated business
concepts that are engrossed in business practices. The concept of C.S.R
and Corporate Governance, therefore has an interrelationship, and are
also prevalent and practiced within legal and regulatory framework in
India. Companies at present date generally practice it with a view point
of business strategy and for the benefits that they receive on a long term
basis. India at present date is one of the first countries to legally adopt
the C.S.R practice. The Indian incorporates are not entirely happy with
the mandatory rule adopted by Indian governance however they
understand the long term benefits that they will be receiving through the
media of C.S.R. The idea of C.S.R is slowly taking its roots widely
through out on a global basis and is expected to promote the economic
and social development of developing and under developed countries
hand in hand with their respective government.
DEFINITIONS:
1.) CORPORATE SOCIAL RESPONSIBILITY :
C.S.R is about how companies manage the business processes to
produce an overall positive impact on society. There isn’t any globally
accepted definition for C.S.R. However the definition of C.S.R mainly
depends on two factors: Social contract and Stakeholder theory.
6. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 6
a.) SOCIAL CONTRACT:
(Donaldson, 1982; Donaldson and Dunfee, 1999) –
There is a tacit social contract between the firm and society; the contract
bestows certain rights in exchange for certain responsibilities.
b.) STAKEHOLDER THEORY:
(Freeman, 1984) –
A stakeholder is “any group or individual who can affect or is affected
by the achievement of an organization’s purpose.” ‘Argues that it is in
the company’s strategic interest to respect the interests of all its
stakeholders.’
“It means that a firm needs to take into account the interests of all
stakeholders in a corporation’s existence, and not just shareholders”
2.) CORPORATE GOVERNANCE:
The concept of corporate governance was almost non-existent in India.
In late 90’s the concept of corporate governance was introduced in India
by the Securities and Exchange Board of India (SEBI) through Listing
Agreement, which is applicable to the listing companies only. According
to OECD the Corporate Governance structure specifies the distribution
of rights and responsibilities among different participants in the
corporation, such as, the Board, managers, shareholders and other
stakeholders spells out the rules and procedures for making decisions on
corporate affairs.
“Corporate governance should be recognized as set of
standards, which aims to improve a company’s image, efficiency,
effectiveness and social responsibility” – As defined by Nigel Kendall.
According to Sir Adrian Cadbury, “Corporate Governance is the system
by which companies are directed and controlled……”
Corporate governance may be defined as the broad range of policies and
ethical practices which are adopted by an organization in its dealing with
the stakeholders who are majorly comprised of employees, customers,
investors, community, natural environment, and suppliers.
2. RESEARCH PROBLEM:
7. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 7
The research problem is centered on the topic of Corporate Social
Responsibility. Here we discuss on how corporate social responsibility
developed and took its roots in India.
The research problem is majorly and wholly centered around weather
the reason behind corporate social responsibility being followed is of
philanthropic nature and for the growth and development of our Nation
‘or’ the industrialists consider it to be just a part of the business strategy
for the benefit of their own business growth objectives.
Also, on a small scale here it has been
discussed how corporate governance and corporate social responsibility
are interlinked and how their objectives and benefits are somewhat
similar in nature to have a better understanding into the world of C.S.R.
The research problem to be summarized in a short question is:
Is C.S.R a genuine effort towards national development by the
industrialists or is it just a mere dressing window for their organization?
3. LITERATURE REVIEW:
8. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 8
Corporate governance refers to the system by which corporations are
directed and controlled.
Corporate Social Responsibility (C.S.R) is a basically form of corporate
self regulation integrated into a business model.
Reference to the articles in the following given website:
http://www.academia.edu/1954005/IOSR-JBM_www.iosrjournals.org_
C.S.R and Corporate Governance although being two different terms,
they have always been interlinked and considered to be the same for the
very basic reasons of their objectives and benefits being the same.
C.S.R. was earlier just confined to charitable terms. But slowly it got
infused into companies and corporate governance practices.
But earlier in India according to clause 49 of the listing agreement,
C.S.R had been made totally optional.
Whereas, C.S.R is based on the concept of self governance which is
related to external legal and regulatory mechanism, Corporate
Governance is a widest control mechanism within which a company
takes its management decisions.
C.S.R can be broadly divided into the following four categories:
1. Environmental C.S.R: It focuses on eco- issues such as climate
changes.
2. Community based C.S.R: Here, businesses work with other
organizations to improve the quality of life of the people in the
local community.
3. HR based C.S.R: It includes projects that improve the wellbeing
of the staff.
4. Philanthropy: Here, businesses donate money to a good cause,
usually through a charity partner.
After a detailed study I’ve summed up the benefits of C.S.R that a
company derives which are as follows:
9. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 9
a. Reduction in wastage and proper utilization of resources:
Cutting utility bills and waste disposal costs helps the environment
benefits as well as bring in cash benefits for the organization.
b. Better reputation with satisfied and loyal workforce: A good
reputation makes it easier to recruit employees. Employees may stay
longer, reducing the costs and disruption of recruitment and
retraining. Employees are better motivated and more productive.
c. Helps meet regulatory requirements and draws positive
attention and PR: C.S.R helps ensure the companies to comply with
regulatory requirements. Activities such as involvement with the local
community are ideal opportunities to generate positive press coverage.
d. Smooth functioning of business with scope of further
development: Good relationships with local authorities makes doing
business much easier. Also, Understanding the wider impact of the
business helps develop new products and services or improvise on the
existing ones.
e. Building a competitive strength: C.S.R helps the business to be
more competitive in nature and reduce the risk of sudden damage to its
reputation (and sales). Investors can recognize this and it makes them
more willing to finance in the company.
f. Satisfied Customers: It is a well known fact that customers like to
buy more products or services of a company they preferably like. C.S.R
creates a positive impact on company’s reputation and hence attracts
more and more customers towards the company.
g. More business opportunities: A C.S.R program requires an open,
outside oriented approach which means that the business is always in
constant positive relations with the customers, suppliers and other
parties that affect the organization. Because of the continuous interaction
of the business with other parties, it is easier to get to know fast and first
about new business opportunities.
h. Avoidance of government regulations: When a business is
unable to fulfill its social roles, it invites more government intervention
in the business system. Therefore, in order to avoid government
regulation of business, it is preferable to participate in C.S.R activities.
10. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 10
i. Long run self interest of the business: C.S.R activities ensures
long run self interest of the business by creating a strong goodwill for
the company, and a better public image among various interest groups.
j. Conscious customers: The customers are well informed. They
expect higher and good quality products at reasonable rates. If they don’t
get fair treatment from the business, they may bad mouth and not buy
the companies products.
k. Strong trade unions: The level of education among the workers
has been increasing. They understand the need of organizing themselves
into unions to advance their economic and social interests. The
government has also enacted social security measures due to which it
becomes difficult for the business to ignore the interests of the workers.
l. Shareholder expectations: Historically, publicly-owned
companies primarily aimed at maximizing the shareholder value. At
present date, companies must balance the financial expectations of
owners with the social and environmental requirements of other
stakeholder groups. Some shareholders are happy to invest in companies
that operate with high integrity. Others may not approve of the
aforementioned expenses of operating under C.S.R guidelines.
However long list of benefits there may be, still there are many
arguments also against C.S.R activities which the industrialists have,
they are summed up as follows:
1. Conflicting Consideration: Hard core profit making policies of
firm are opposite to following C.S.R. A business manager is
guided by two consideration, namely private market mechanism &
social consideration, which are opposite to each other. If he
considers following C.S.R entirely then the profit objectives of the
firm has to be put at stake.
2. Arbitrary power: Too much involvement in C.S.R activities and
allocation of resources in the welfare of the society allows
managers to get an arbitrary power. They should have no right to
interfere with the external environment of the business.
11. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 11
3. Disregard of market mechanism: Market mechanism is opposite
to the doctrine of social responsibility which firms prefer to put in
action towards allocation of scarce resources to alternate uses.
4. Responsibility of government: The industrialists believe it is the
government’s job to uplift the weaker sections of the society.
5. Inefficiency in system: There should be self interests attached
towards taking initiatives for social responsibility which is
inefficiency in our system.
Reference to the articles in the following given website:
http://articles.economictimes.indiatimes.com/keyword/corporate-governance
There are many examples of poor corporate governance in India which
proves that the amount contributed by industries is pint-sized compared
to the billions they receive in return of such activities, which is why the
new companies bill provisions has been introduced under the
supervision of the current Minister of Corporate Affairs, Sachin Pilot.
JRD Tata, was the first businessman who took the initial step towards
social responsibility. In 1970, all the major companies in Tata group
started following the concept of social responsibility. One of the efforts
of the Tata group which is known to almost all is Jamshedpur Tata steel
works which was established providing well built roads shaded with
trees and lot of other amenities like free housing, free hospitals, free
schools, sports stadiums and clean streets surrounding it making it a
people’s place and a proper planned city. In 2004, Jamshedpur was
chosen by U.N along with Melbourne and San Francisco as one of six
examples of urban-planning excellence.”
Slowly with time some other major industrialists also started to follow
the C.S.R concept.
There are in fact a lot of such examples we can site to which are not just
the efforts of the Tata Group but a lot of other existing and emerging
corporate. C.S.R has been taking shape in today’s current scenario and
the government also recognizes it to be a very crucial step towards
economic development.
12. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 12
Still if we want to have a broader look into the emergence of C.S.R in
India we can sum it up into five phases as described below:
Ist PHASE: Here, C.S.R was in its very basic form of charity and
social work done by the then wealthy merchants. After the colonial
rule arrived in 1850’s, approach towards C.S.R changed. During
19th century, the industrial families of Tata, Birla, Bajaj, Godrej,
Modi, Singhania, came forward and contributed a lot towards
economic and social considerations but it was seen that their
contributions was not just because of selfless and religious motives
but also it was influenced by caste groups and political objectives.
IIst PHASE: During the Independence Movement, Mahatma
Gandhi ji introduced the notion of trusteeship according to which
the industrial leaders had to manage their wealth so as to benefit
the common man. Gandhi ji’s efforts had put pressure on various
Industrialists to contribute to show their dedication towards
building the nation by, setting up temples, establish trusts for
schools and colleges, setting up of training and scientific
institutions, to help abolish untouchability, and encourage
empowerment of women and rural development, e.t.c.
IIIrd PHASE: The third phase dates from 1960’s to 80’s where
public sector undertakings (PSU’s) set up by the government were
emerging to engage in C.S.R activities along with establishing
various laws relating to labor and environment standards. There
were stringent laws controlling the activities of private sectors. As
Public sector was single handedly not being able to contribute
effectively towards social and economic development private
sectors again emerged to act towards C.S.R. But in spite of all the
efforts C.S.R failed to catch the system during this phase.
IVth PHASE: This phase dates from 1980’s till until recently
where Indian companies adopted C.S.R in the forms of their
business strategy. As the economy started to grow rapidly it was
beneficial for Indian companies to expand and grow as well, and
this made them contribute more towards social and economic
13. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 13
causes. C.S.R helped the industries capture the global market and
create a corporate brand for themselves.
Vth PHASE: The fifth phase describes the current Indian scenario
we are in at present where C.S.R is concerned. The new companies
Bill 2012 approved by the parliament now, states that companies
up to a certain size will have to spend 2% of their three- year
average annual profit towards C.S.R. It is being considered as a big
leap towards national development.
Now let us have a look into the laws, provisions and efforts put in by the
government.
C.S.R VOLUNTARY GUIDELINES 2009:
Companies Act consists of several acts and sections relating to how a
company should function. Relating to C.S.R a Companies Bill was
raised in 2008 but due to the dissolution of the Lok Sabha it had to be
reintroduced in 2009 which was referred to the standing committee for
its recommendations and after getting the suggestions it took the shape
of Companies Bill 2012 which was passed by the Lok Sabha on
18.12.2012 and by the Rajya Sabha on 08.08.2013. Due to this immense
delay of the Companies Bill being passed, Ministry of Corporate Affairs
introduced C.S.R voluntary guidelines in 2009, which is what we are
talking about right now.
These guidelines issued by the then Minister of Corporate affairs,
Salman Khurshid, say that:
“Each business entity should formulate a C.S.R policy to guide its
strategic planning and provide a roadmap for its C.S.R initiatives, which
should be an integral part of overall business policy and aligned with its
business goals. The policy should be framed with the participation of
various level executives and should be approved by the Board.”
The Core Elements of this guideline were:
1. Care for all Stakeholders
2. Ethical Functioning
3. Respect for Worker’s rights and welfare
14. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 14
4. Respect for Human right’s
5. Activities for Social and Inclusive development.
As per these guidelines the companies were required to frame a C.S.R
policy, constitute a C.S.R committee, set aside funds for C.S.R activities
and finally execute the C.S.R projects.
PROVISIONS IN THE NEW COMPANIES BILL:
The clause no. 135 of the Companies Bill deals with C.S.R provisions. It
states that a company must on a mandatory basis follow C.S.R activities
if it meets any one of the following given criteria’s:
1. It has a Net worth of Rs. 500 Crore or more,
2. It has a Turnover of Rs. 1000 Crore or more,
3. It has a Net Profit of Rs. 5 Crore or more during any financial year.
1. COMPLAINCE OF C.S.R ACTIVITIES AS PER THE NEW
COMPANIES BILL:
If any company meets up with the criteria mentioned in the Companies
bill as aforesaid, then it is required to form a C.S.R committee with 3 or
more Directors amongst which at least one of them has to be an
independent Director.
The functions of the committee are as follows:
2. The committee should formulate a C.S.R policy and indicate the
respective C.S.R activities to be undertaken.
3. The committee should recommend the amount of identified
expenditure for C.S.R activities.
4. The committee should monitor the C.S.R policy from time to time.
Now Let us talk about a few of the contributions made by the
corporate towards C.S.R which have been mentioned as follows:
1. Tata Group has always come forward taking numerous steps for
the economic development of our country. It has created
scholarship opportunities and has also provided endowment for
creation of national institutions, like TATA institute for social
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pg. 15
sciences, Indian Institute of science, National Centre for
Performing arts, and a number of other higher education centers.
Standing today 2013, Tata Global beverages has been recognized
and well appreciated by mass for women empowerment as it
comprises of 40 % women and has also been awarded for its well
known ‘Jago re’ campaign. Also Tata Group was one of the
biggest contributors that had come forward to help towards
Uttrakhand tragedy that had recently struck and devastated the
whole place.
2. On 4th December, 1996 Infosis Foundation, the philanthropic arm
of Infosis Technologies Ltd came into existence for the purpose of
fulfilling the social responsibility of the company by supporting
the underprivileged sections of the society by opening around 5500
libraries in government schools across many villages, aiding
orphans and street children, providing medical facilities,
organizing novel pension schemes, reconstructing school
buildings, setting up science centers and schemes to provide
support to dying traditional art and cultural forms, e.t.c.
3. Lupin India Ltd is India’s third largest manufacturer of
pharmaceuticals which has started a project for providing
sustainable development in 154 villages across Rajasthan. The
scheme instead of providing for piece-meal assistance that does not
lead to effective alleviation of poverty or adequate development is
designed as a holistic action plan that includes an Agricultural
Income Generation Scheme, land cultivation and fruit plantation
programs, fodder preservation schemes, sericulture and water-
recycling programs, establishment of medical and educational
centers, adult literacy programs and credit schemes.
4. Tata Consultancy Services (TCS) has set up a fully-equipped
computer training laboratory for children from the Society for the
Welfare of the Physically Handicapped and Research Centre, in
Pune for imparting basic computer knowledge. NIIT has launched
16. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 16
a highly popular ‘hole-in-the-wall’ scheme where it places a
computer on a public wall in urban and rural areas so that
neighborhood children can learn computer basics using the play-
way method.
5. Cipla, another Indian pharmaceutical major has found a novel
approach to fulfill its corporate social responsibility obligations by
offerering to sell a cocktail of three anti-HIV drugs, Stavudine,
Lamivudine and Nevirapine, to the Nobel Prize-winning voluntary
agency Medicine Sans Frontieres (MSF) at a rate of $350, and at
$600 per patient per year to other NGOs over the world. This offer
has to lead to a significant decrease in the prices of these drugs
worldwide increasing the accessibility of these drugs especially in
the developing countries.
6. Ranbaxy, one of India’s major pharmaceutical firms operates
seven mobile healthcare vans and two urban welfare centers that
reach over a lakh people in various parts of northern and central
India as part of its corporate social responsibility initiative.
7. Bharat Electronics Ltd built cyclone proof houses for the victims
of the super cyclone in with the help of the victims themselves so
that the houses are built according to their needs.
8. Ion Exchange has founded a profitable venture for environmental
protection through water treatment, afforestation and organic
farming.
4. HYPOTHESIS:
If we come to think of it clearly the objectives and benefits are common
for both C.S.R and Corporate Governance however some of them are
listed below:
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pg. 17
1. Rebuilding of public trust and confidence by increased
transparency in its financial as well as non-financial reporting and
thereby increasing the shareholder value.
2. Establishing strong brand reputation of the company.
3. Making substantial improvement in its relationship with various
stakeholders.
4. Contributing to the development of the region and the society
around its area of operation
5. Addressing the concerns of its various stakeholders in a balanced
way so as to maintaining a strong market position.
Around 8000 companies are expected to fall under the coverage of new
Companies bill (2013), and this means that there would be a sum of Rs.
12,000 – 15,000 crores annually raised for the purpose of social and
economic development. Although the companies are not very happy
with C.S.R activities being made compulsory however a large number of
the corporate feel that C.S.R is not just another form of indirect expense
but is important for protecting the goodwill and reputation, defending
attacks and increasing business competitiveness and the government
expects a positive trend and foresees this to add a new dimension in the
field of economic and social development of the country.
The C.S.R concept which was in its philanthropic nature has been
developed today and if we see it has been adopted by many industries
and a lot has been done also by them for the economic and social
developmental causes but if we come to see the reasons behind it, it was
majorly followed by these companies as a part of their business strategy
and political reasons. Talking about Corporate Social Responsibility in
general it is a business ideology which claims that businesses ought to
be responsible for social and environmental welfare. This can be a
disadvantage as it can hinder productivity and this can also impact on a
business' profitability.
But still from a broader perspective if we look there are many
advantages that C.S.R activities have to offer.
18. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 18
C.S.R activities helps a company grow building a corporate brand image
in the eyes of its stakeholders. In simple terms if we explain C.S.R
activities helps in national development and a company operating
within it will automatically grow if the economic condition of a country
is strong. Nowadays C.S.R is considered as a part of the business
strategy. C.S.R activities benefit the companies in achieving the
organizational objectives which is why C.S.R is being adopted and
implemented by the organizations today. To conclude finally, the
reasons that motivate organizations to involve in C.S.R activities are
discussed as follows:
1. C.S.R activities have formed an integral part of business strategy
which also helps in corporate branding and global recognition of
the companies. Also, for a corporation to function a developed
economy is required. If a society grows so does the corporate
sector.
2. The upcoming young generations of managers in the organization
want more than just the financial benefit. They feel sense of pride
to be connected with the organization which is socially
responsible. Hence, strong C.S.R practices can help in attracting,
recruiting and retaining the best young talent.
3. Responsible companies give greater priority to their customers.
With diminishing business boundaries across the world consumers
have become aware and more demanding in terms of information
regarding conditions in which the products and services are
produced along with the sustainability impact thereof.
4. C.S.R is about values and accountability which includes the
behavior of the people. Many potential clients who themselves
operate the C.S.R related activities expect that their suppliers will
be doing the similar kind of programmes. Sometimes the selection
is on the basis of social responsiveness of the supplier.
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pg. 19
5. Globalization and universal expansion of the economies enhances
the consideration of image and reputation among organizations. An
organizations image and reputation can be ruined in days through
unregulated and unethical practices. So, imbibing C.S.R practices
becomes the strong foundation in image building.
6. Environment protection becomes an area of concern these days. A
C.S.R programmes that aims to conserve earth's natural resources,
avoiding pollution, water conservation and minimizing global
warming effects are the areas in which the companies take
initiative.
7. Legislators have introduced laws and regulations to force
businesses to act more responsibly whether that is in regard to the
environment, finance, health and safety, wellbeing or a variety of
other areas. Corporations by taking substantive voluntary steps
with respect to these issues can avoid government intervention
when seen as a pioneer in these areas rather than being forced by
law to comply.
8. C.S.R practices can help the organization to avoid the risk of
corruption scandals, environment disasters, child labor violations
and dangerous work environment. These incidents also draw
unwanted attention from regulators, courts, governments and
media. A genuine effort in playing straight and having good C.S.R
record with the right check insulates the companies from such
risks.
5. RESEARCH METHODOLOGY:
To understand the concept of research design properly we can look at
the definition given by Bernard Phillips which is:
20. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 20
“Research design is the blue print for the collection, measurement and
analysis of data”
My research on the topic of ‘C.S.R’ is majorly based on a qualitative
analysis and interpretive research and inductive reasoning, using
individual ideas and facts to give a general conclusion to the research
problem.
Through the help of collection and analysis of primarily non-numerical
activities, and a detailed study, a structured approach has been applied to
reach to the possible conclusion.
The research that has been conducted here on C.S.R is based on the
following methods:
1. Historical research: It included getting into the roots from where
C.S.R started to take a possible shape in India and the activities
that had been done relating to it.
2. Ethnography: It included collection of empirical data on the
human societies and cultures towards understanding the social life
of humans and their personal perspectives towards the concept of
C.S.R observing the benefits that the industrialists arrive from the
point of view of the subject.
3. Case study: It included deeper understanding of C.S.R and
analyzing it systematically in depth.
4. Ethology: It included the study of the set of ideas and attitudes of
the firms towards C.S.R comparing its origins, characteristics, and
culture of different societies.
5. Ethno methodology: It included studies of how the firms make
sense of their everyday activities in order to behave in socially
accepted ways by adopting C.S.R as a part of their business
strategies and creating a public image and corporate brand.
6. Grounded Theory: It included investigation and developing
theory based on the data collected looking at the specific and
21. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 21
relevant information and deriving theories and real motives of
industrialists behind following the concept of C.S.R.
7. Phenomenology: It includes detailed study of the events related to
C.S.R.
8. Symbolic interaction: It included word mouth interview session
conducted with a few people regarding their perspectives of C.S.R.
9. Action research: It included research done by observing the data
collected improving my view towards a better understanding of the
topic C.S.R.
I have done an exploratory research gaining adequate knowledge about
the topic “C.S.R.” My research is basically based on data collection,
existing national survey and also on the basis of selecting quotes that are
relevant and represent aspects related to C.S.R along with interviewing a
few working professionals leading towards my research findings.
6. FINDINGS AND ANALYSIS:
Part I: A word- mouth interview was conducted by me of a few
working professionals to know about their ideals in regards with C.SR
and the contributions of their companies related to it. Following are the
names of the people who gave their opinions on C.S.R:
22. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 22
1. Mr Arijit Mondal, Project Manager Tata Steel,
2. Sharmistha Mukherjee, H.R associate in Deloitte,
3. Kavita Mendiratta, Talent Acquisition in Emerson Design
Engineering Center,
4. Pratyusha Ryali, Hr in Wipro,
5. Rahul Halder, Hr in Yellow Box Hr Services Pvt Ltd,
6. Kapil Mendiratta, Ex- business analyst and software developer at
Evalueserve.
Given below are their statements which they conveyed relating to C.S.R:
1. Mr Arijit Mondal: “Following Corporate Social Responsibility has
always been a heritage culture at every Tata industries. Jamshedpur
steel city in fact is one of the biggest examples, it is a perfectly set up
and designed city with all the required amenities and facilities. Tata
Steel in fact spends in crores annually for C.S.R activities opening
new schools, spending for the benefit of the society; also recently we
have donated quite a lump sum amount towards the Uttarakhand
tragedy that had occurred. C.S.R is a very beneficial concept that has
been recently only made mandatory with its necessary provisions and
with this new advent I’m sure there will be scope for even more
progress and development of our economy.”
2. Sharmistha Mukherjee: “C.S.R is a form of corporate self-
regulation integrated into a business model. C.S.R policy functions as
a built-in, self-regulating mechanism whereby a business monitors
and ensures its active compliance with the spirit of the law, ethical
standards, and international norms.
Well if you ask me, I am in favor of the view. Every organization and
person should participate helping the society to grow and ours does
too as per my knowledge Deloitte is very much engaged in
conducting blood donation camps, and also setting up libraries and
supporting the children.”
3. Kavita Mendiratta: “C.S.R is a well known concept followed by
almost every operating industry in India. Emerson Design
23. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 23
Engineering Center is a global company. In India its horizons are
centered on working with the local communities. It contributes
towards community development focusing on the area of education,
school improvement programmes, orphanage support, rural
infrastructural development and promotion of better living standards
across India. My opinion is that it is the work of the government
majorly to contribute towards the growth and development of our
people we pay the government in terms of taxes and the money which
is not being utilized properly should be utilized. It’s not like the
government doesn’t do anything they do but they should try and
reduce money wastage and contribute more.”
4. Pratyusha Ryali: “C.S.R in Wipro is majorly centered around
education promotional activities and towards protecting the
environment. It is always engaged in health and wellness
programmes, building up schools and to avoid wastages and proper
utilization of natural resources. C.S.R is a developing concept in India
and I believe it is not just the corporate but also the employees that
have this responsibility to follow. India being a developing country
needs joining hands and working as a team which is kind of like a
dream more than reality but we should to play our parts well.”
5. Rahul Halder: “C.S.R is not just to be in charity level social
responsibility plays a major role also. According to my knowledge
my previous companies I have worked in be it Wipro or Vodafone,
they were very much into the C.S.R concept helping the flood victims
and establishing libraries or distributing books. My current company
is not however involved in C.S.R activities since it’s not exactly a
huge concern it only operates in three places Pune, Bangalore and
Kolkata. Whenever u have a proper Infrastructure and a very high
profit level u can think about involving into these activities. On a
personal level I very much support C.S.R activities and have also
involved myself with C.r.y and U.n.ic.e.f.”
6. Kapil Mendiratta: “Evalueserve is a global organization which has
always supported the C.S.R activities. It sponsors the education of
underprivileged children, and works with local schools, providing
24. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 24
training programs for small business owners and also supporting
communities affected by natural calamities, such as floods and
earthquakes, etc. I am in favor of corporate social responsibility as it
is very crucial for the economy to grow which in turn creates a stable
platform for the company to grow as well and if the company grows
the employees will also have more scope to grow.”
Part II: The Stakeholder theory states that a company should proceed
with its work keeping in mind the benefits of the company along with its
stakeholder’s.
However, the Theory of the firm has stated that the sole motive of a
company should be profit maximization.
In a developing country like India the Stakeholder’s theory holds no real
value because for the economy to develop profit maximization is also
required equally as much as the C.S.R activities.
Here, Jenson has enlightened the value maximization theory which
combining both Stakeholder’s Theory and Theory of the Firm states that
in order to create a sustainable firm, stakeholders need to be considered,
but in order to remain efficient, there needs to be a singular objective as
well for the firm to function.
Part III: Currently, a study by Oxford on Corporate Social
Responsibility in India, has stated that:
“Industry leaders in India have repeatedly blamed the government’s
poor performance in education for the dearth of qualified candidates
and the ‘poor quality’ of most engineering graduates, and argued that
steps should be taken to make young people from rural areas and lower
castes more competitive in the job market, especially by improving the
quality of school education.”
But still there are company groups and corporate who have begun to
take matters in their own hands.
India has the world’s largest population of youth. Sam Pitroda, head of
the Indian National Knowledge Commission spoke on the issue of
25. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 25
India’s youth not being utilized fully to their capacity stating,
“Our youth can be an asset only if we invest in their capabilities. A
knowledge-driven generation will be an asset. Denied this investment, it
will become a social and economic liability.”
Yet many firms have recognized this issue and started projects to
involve youth in business, getting them properly trained and to utilize
their talent to the fullest.
The corporations that are doing work that is benefiting the society also
need to publicize and manage these projects effectively and efficiently in
order to maximize their profits. This is not the way it is happening
currently in India.
“Only 17 percent of the companies surveyed in India had a written
C.S.R policy while more than 80 percent of the surveyed companies
engage in C.S.R programs.”
Harvard Business school study warns that unless effectively managed
C.S.R can become a large waste of money. If management does not have
a concrete C.S.R plan consequences can be huge. HBS describes the
common situation of ill managed C.S.R in their study: “And then the
CEO wakes up one day and realizes that "we're doing $50 million worth
of charity work, and we don't seem to be getting credit for any of it."
“However, they advise that companies should not force the disparate
C.S.R programs into their business strategies. Instead, the goal should be
to “bring discipline and structure to the many fragmented components.”
To have the C.S.R projects that the people of India need to climb out of
poverty, management needs to be consistent and directed. Finally despite
all efforts of well-managed and effective C.S.R, sometimes the families
of corporate giants can single-handedly ruin entire programs
effectiveness. Traditionally, many C.S.R projects have aligned with the
families or CEO’s personal interests. However, for the benefit of the
Indian people and profits, personal wishes need to be set aside and an
unbiased, effective C.S.R program needs to be established.
26. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 26
The Negative press from the wealthy leaders can also override the
positive C.S.R press as warned by Prime Minister Dr Manmohan Singh:
“In a country with extreme poverty, industry needs to be moderate in the
emolument levels it adopts…The electronic media carries the lifestyles
of the rich and famous into every village and slum. Media often
highlights the vulgar display of their wealth…. An area of great concern
is the level of ostentatious expenditure on weddings and other family
events. Such vulgarity insults the poverty of the less privileged, it is
socially wasteful and it plants the seeds of resentment in the minds of the
have-nots…”
Creating an effective Corporate Social responsibility Program is much
harder than simply throwing money to charity. Firms need to consider
aspects of their managements and community, or they may in fact do
more harm than good to both parties.
Despite variants in the type or reason for C.S.R from firm to firm for
corporations rising in India, it can be a way of maximizing growth and
efficiency.
Based on conclusions in The Corporate Social Responsibility and the
Theory of the Firm,
"C.S.R may be in certain cases a necessary condition for wealth
maximization.”
Part III: As per a survey on the main drivers of C.S.R in India, “to build
a global brand” was found out to be one of the higher ranked reasons for
C.S.R being practiced by the companies.
27. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 27
If we talk on a global scale, Grant Thornton International Business
report reported states that 65% of privately held businesses have
considered worker retention as their main driver of keeping a C.S.R
program. If we come to think about it worker retention is one of the
major factors why C.S.R should be followed by companies as it will help
gain lifelong consumers and loyal employees along with a healthy
reputation in the market.
28. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 28
Part IV: On the basis of an internet found survey result:
Reference link: http://www.gbmr.ioksp.com/pdf/Gautam%20&%20Singh,%202010.pdf
As per a survey (Ref. link provided above) it was observed that 46%
companies got zero rating (no reporting), around 8% scored 3/5 & 4/5
Karmayog rating shown in the below table. About 49% companies out
of 500 largest Indian companies were reporting on C.S.R. Most of the
companies report on donations, renovating schools in villages, mid day
meals etc.
It is expected from a company to at least spend a minimum of 0.2% of
income on C.S.R activities annually. But in most reports there is no
mention of the amount spent in any of their balance sheets or annual
reports. Well defined expenditure on C.S.R has been shown by very few
companies. Companies reach for C.S.R activities was also unsatisfactory
in the sense only 25% companies C.S.R activities were for employees &
rest were focusing on vicinity & society at large.
29. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 29
Many companies are only making token gestures towards C.S.R in
tangential ways such as donations to charitable trusts or NGOs,
sponsorship of events, etc. believing that charity and philanthropy equals
to C.S.R. Most companies use C.S.R as a marketing tool to further
spread the word about their business, for instance, donation of a token
amount to some cause on purchase of a particular product. The fact that
companies are hiring advertising agencies for their C.S.R further
highlights this. Companies hesitate to state the processes followed by
them, the damage caused by these processes, and the steps taken to
minimize this damage.
A summary of C.S.R ratings of top 500 companies is given below:
Karmayog C.S.R Rating No. of Companies Companies with the given
rating
0/5 231 46%
1/5 92 18%
2/5 138 28%
3/5 35 7%
4/5 4 1%
5/5 0 0%
TOTAL: 500 100%
The results suggest that C.S.R is often guided by the commitment of the
top management. With compliance and enforcement slack, employee’s
care is just employers’ benevolence, environment care and total quality
management are driven by market forces and legislation, C.S.R is
considered as an additional activity of Human relation and public
relation department, provides a glimpse of C.S.R focus areas and
methodology adopted by 30 companies.
7. INFERENCE:
The inference drawn on the basis of the findings and analysis is
mentioned below:
30. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 30
1. As per the interview session with a few working professionals,
C.S.R is a well known but developing concept which was majorly
supported by them deeming it important for national growth. C.S.R
activities were also majorly followed by their companies and also
they expect the new mandatory law to e beneficial for the uplifting
of the society.
2. As per a survey on the main drivers of C.S.R in India, “to build a
global brand” was found out to be one of the higher ranked reasons
for C.S.R being practiced by the companies
3. On a global scale, Grant Thornton International Business report
stated that worker retention was the main driver of C.S.R
programs.
4. As per another survey it was observed that maximum companies
do not spend in any C.S.R activities and that C.S.R activities
should be made in a way that benefits the company’s reputation
and it should also contribute towards the economic development of
the country.
5. Some other studies based on the newspapers magazine’s and
reviews given in part III of findings and analysis we conclude that
proper education facilities should be provided to those
underprivileged with the same. Corporates generally involve in
monetary donations where they should be involved in some
productive operations in the field of health, education, e.t.c
8. CONCLUSIONS:
Corporate Social Responsibility (C.S.R) although interlinked to the term
Corporate governance is different to it but they both are mistakenly
31. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 31
considered the same because of their common benefits and advantages
that they offer.
C.S.R is considered a profit-maximizing attribute in globalizing
corporations. In our India, major C.S.R activities are concerned with
community development activities, particularly in the areas of health and
education because of the interdependency of the firms and their
environment.
C.S.R is mainly followed by the companies as it is supposed to help a
company gain lifelong customers or consumers and loyal dedicated
employees. Also, a company can gain a good reputation through the
medium of C.S.R which also helps in capturing the global market. In
general terms for a company to survive in the long term C.S.R activities
are very useful.
It is a very true fact that even though C.S.R activities itself incurs a
certain heavy amount of expenditure still through getting responsibly
involved in C.S.R activities a company can reduce its legal fees,
advertisement expenditure, and also it can cut down on various other
costs. In India, the firms are well known with the fact that C.S.R can
affect their global reputation as well as at home as because to commerce
trade globally also many companies need to fulfill certain laws related to
C.S.R. Still very few companies follow C.S.R and it is done for the
benefits of the company as a part of their business strategy.
Despite the current and potential benefits of C.S.R in India, there is
much that still needs to be improved, to maximize the profits of society
and that of the firm and even though the industrialists may be unhappy at
first with the C.S.R activities being mandatory but this is expected to
have positive outcome for the future.
9. LIMITATIONS OF RESEARCH:
32. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 32
There are several limitations of research that hasn’t allowed my research
work to be a completely perfect one. A few of the limitations I have
faced during my research work is mentioned as follows:
1. The research is based majorly on collected data as it was not
possibly to explore the practicality of the situation by going into
deep analysis by entering and observing the industrial world and
their application and perspectives about C.S.R.
2. The inadequate interaction with the university research
departments and research institutions is also another limitation I
have faced while conducting my research.
3. The inadequacy of continuous assistance for gaining in-depth
knowledge and computer assistance was also a sort of hindrance
for my research.
4. Since my research is qualitative in nature it is not as prescriptive
and as definite when compared to a quantitative research which is
based on mathematical calculations, scientific as well as graphical
measurements whose conclusions are more definite in nature.
5. Issues of anonymity and confidentiality may have occurred which
are unavoidable problems while conducting word-mouth
interviews rather than survey-questionnaire method.
10. FUTURE DIRECTION:
33. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 33
The aim of this thesis is to help develop a rational approach for the
motives behind C.S.R activities.
Further studies and researches can be based on the same topic by future
researches from their own desired perspectives. Through a methodical
and quantitative analysis several observations can be made for future
research in the field.
They can use Questionnaire survey method and approach a few
companies and do a more practical and detailed research on the same.
One can even do the study for future research focusing on prior firm
performance influencing the C.S.R agenda.
It is apparent that the information obtained is from a detailed study of
data collected and the same has been applied towards a better
understanding of the research problem but one can apply a more
different approach towards the same through hard-core field work.
With a project topic as large and varied as this, additional and intensive
studies can be done and results would likely to improve with a
diversified view. Results can also be drawn from other scientific
techniques also.
11. SUMMARY:
34. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 34
1. Introduction: An overview into corporate governance and
corporate social responsibility with definitions of C.S.R, Social
contract, Stakeholder Theory, Corporate Governance.
2. Research problem: Research is to find weather C.S.R a genuine
attempt made by industries towards the economy and weather
corporate governance and C.S.R are same terms or not.
3. Literature Review: A detailed description C.S.R, its evolutionary
phases with the benefits and shortcomings. It also includes C.S.R
voluntary guidelines 2009, provisions in the new companies bill
and examples of a few C.S.R activities done by some industries.
4. Hypothesis: Understanding the objectives and benefits of C.S.R
being same, and looking at the possible reasons for C.S.R being
followed.
5. Research Methodology: The methods used namely historical
research, ethnography, case study, ethology, ethno methodology,
grounded theory, phenomenology, symbolic interaction, and action
research.
6. Findings and Analysis: It includes word-mouth interview articles
and wordings about C.S.R and surveys and reports.
7. Inference: It contains the outcomes of findings and analysis which
is that C.S.R is majorly followed in India to build a corporate
brand image and that it is beneficial for the company although
many companies do not follow it.
8. Conclusion: C.S.R is done by the firms as a basis of profit
maximizing business strategy.
9. Limitations of the Research: The limitations faced were lack of
contact with the research departments, quantitative analysis,
scientific methods; practical field work, questionnaire survey
method.
10.Future Direction: One can do a more quantitative research based
on scientific and practical method.
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35. Corporate Social Responsibilityin‘INDIA’ SwathyMendiratta (PunjabTechnical University)
pg. 35
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