Csr Need Of The Hour

1440 words - 6 pages

CORPORATE SOCIAL RESPONSIBILITY (CSR) – THE NEED OF THE HOUR

What is CSR?

“No success or achievement in material terms is worthwhile unless it serves the needs or interests of the country and its people “

- Late Shri. J.R.D. Tata

As evident from the above definition, the basic objective underlying CSR is maximization of societal benefits from business.

The concept of CSR has been evolving since the early seventies, and yet there does not seem to be a uniform definition. It is perhaps not surprising that the CSR that exists now has many different definitions. In the Indian context, CSR would extend to issues as complex as regional development, rural ...view middle of the document...

Given the number of household names with comprehensive CSR programmes such as Tata’s, Bajaj, etc., it is perhaps not surprising that the CSR that now exists has many different definitions. CSR is not simply about whatever funds and expertise companies choose to invest in communities to help resolve social problems. It is about integrity with which a company conducts itself, fulfills its vision and mission, adheres to its values, commitment to shareholders, transparency in its activities and its interaction with the society as a whole.

Role of CSR in private companies

The concept of CSR is not new to Indian companies. However, what is new is the way it has caught on with Corporates in India and the direct involvement of employees in implementation of these projects. The trend is especially visible in IT companies such as Infosys, Wipro, Zensar, i-Flex and TCS. Most of these companies are working relentlessly on issues related to HIV/AIDS, healthcare, education, water and sanitation. Corporates like Xansa, Satyam Foundation, Ratan Tata Trust are adopting street children through NGOs such as Pratham, Future Hope, SOS Villages of India and CRY. HSBC has undertaken sponsorships of projects that are pioneering ecosystems in India like the Vellapatti Fisheries Project, Operation Kachhapa (saving the rare ‘Olive Ridley Turtles’ and to ensure their preservation) etc. Vedanta Group has taken up responsibility of maintenance, upkeep and upgradation of the ‘Sahelio Ki Bari’ (a monument) in Udaipur.

Surprisingly though, the canvas of CSR is now so broad as to include; incorporating social characteristics or features into products and manufacturing processes (e.g. aerosol products with no fluorocarbons or using environmentally-friendly technologies), adopting progressive HR practices (e.g. promoting employee empowerment), achieving higher levels of environmental performance through recycling and pollution control (e.g. serious efforts towards reducing emissions), etc.

CSR in Public Sector Enterprises (PSEs)
It has been long since PSEs have been contributing to the cause of CSR in their own way. Initially, some of the PSEs were located in backward areas, set up townships for development, followed socially desirable policies like job reservation, employing the physically disabled, purchase preference to small-scale industries, etc. The PSEs have come a long way since then. To cite some recent examples, Steel Authority of India Ltd (SAIL) has been restoring, maintaining and landscaping five ancient monuments at Lodi gardens in the Capital. State Bank of Bikaner and Jaipur has adopted the ‘Hawa Mahal’ in Jaipur.
Some of the leading PSEs such as IndianOil, HPCL, and NTPC have been doing a commendable job in the areas of social welfare and community development. These organizations have now set up their own Foundations (under Indian Trust Act 1882) to be governed by The Board of Trustees for addressing the niche domains of social development at...

Other assignments on Csr - Need Of The Hour

The Role Of Strategic Conversations Essay

1280 words - 6 pages scope of research is quite broad covering from basic ideas, debating concepts, academic definitions to actual practices and case studies in reality. It is possible to evaluate that the authors’ analysis is available to provide readers almost every basic ideas of Strategic Conversations in CSR. However, to study thoroughly that still need further research. Reflective Comments 1. Objectives fullfilness: The authors has shown their deep

Rmg Sector Safe Working Environment Essay

9772 words - 40 pages CSR disclosure and profitability. H3: There is a negative relationship between CSR disclosure and concentrated ownership. International listing According to Cooke (1989), when a firm is listed on a foreign exchange, it will disclose more detailed information since it may need to observe the disclosure rules of two or more stock exchanges, and it will attract more analyst coverage. In this respect, disclosure serves to limit the monitoring

Green Initatives

1166 words - 5 pages  environmental developments and tips to help employees contribute towards environmentalconservation.ICICI Bank haspledged its support to the World Wildlife Federation-led Earth Hour byswitching of all lights in its premises, branches and ATMs for one hour. HDFC Bank to launch -- green banking in India India's second largest private sector lender, HDFC Bank, is all set to launch 'green banking', for which it has constituted an Environment Management

Trends In Csr

2025 words - 9 pages CSR LEGISLATION: DISRUPTIVE CHANGES IN BUSINESS & IMPACT ON RESPONSIBLE BUSINESS Abstract A recent news article which appeared in The Hindu paints a grim picture about how income is skewed in favor of the 1% of the population who control as much as 50% of the wealth of our country [1] These figures at the bare minimum point to the social inequity that prevails in the economic situation of our country (seen from a different angle, a reminder

What Company Can Benefit From Shared Value And Why?

292 words - 2 pages For example I came across an article about how Starbucks, the worlds largest coffee company leveraged strategic CSR initiatives to gain competitive advantage to secure premium coffee from Etiopia and gain successful market access into India. Starbucks faced the risk of losing Starbucks Fair Trade coffee market share in the long-run. As a solution to this problem Starbucks developed partnerships to invest in coffee farmers in Ethiopia. As a

Rrdfcj Nnmm

2070 words - 9 pages Corporate Social Responsibility practices in India * Vivek Srivastava **Shashank ***Shivdeep Singh Introduction: - Today, businesses are expected to extend their attention beyond stockholders, customers and employees to include other stakeholders such as the community and environment. The concept of corporate social responsibility (CSR) emerged expectations and consists of transparent organizational management; careful consideration of the

It Engineer

1439 words - 6 pages Southern New Hampshire University Muad Elmuntasar OL- 690 Definition of Corporate Social Responsibility October 2, 2012 Pr. Katrina Kerr The definition of corporate social responsibility Introduction The corporate social responsibility ( CSR) seems to be came in the beginning of the millennium after so many wrong actions in past decades. May be, after the shock of scandals business such as Enron, WorldCom and Parmalat, also with

Asdasdasd

573 words - 3 pages No matter whether the discourse is of corporate social responsibility or of sustainability there exists a high degree of scepticism about the reality of corporate activity. Accusations of greenwashing – presenting a false picture – abound. We argue that this is a legacy of past behaviour when such an accusation could reasonably be made about many organisations. Our argument is the CSR is a developmental process and changes as organisations

Individual Assignment

3813 words - 16 pages ethics are the guidelines to be used for business decision making. Ethics, according to Preston (1996), is concerned with what is right, fair, just or good, about what we ought to do, not just what can be done or what is most acceptable or expedient. Ethics allows for set standards and rules to be used to guide behaviours which form just one level of the considerations of CSR. The International Labour Office (2006) identifies CSR as giving

Business And Corporate Social Responsibility Research Paper

1413 words - 6 pages practices in the business organization. Activists, the media and governments all over the world have become adept by holding their organizations or enterprises to account for the social impacts of their actions. It is in this response that the use of Corporate Social Responsibility (CSR) has emerged to be one of the inescapable top priorities for various business leaders or managers all over the globe. However, the fact remains that many current

Nfl---Social Performance Of Organizations

1312 words - 6 pages impact in the community, while leveraging these efforts to promote the image of their league and its teams. The recent rise in CSR activities illustrate that professional sports franchises fully realize importance of image and reputation. According to Public Relations Quarterly, there is a positive and linear relationship between reputation and organizational success (Gibson,Gonzales&Castanon, 2006). Consequently, reputation is the single most

Similar Documents

The Story Of An Hour Essay

333 words - 2 pages “The Story of an Hour” According to the story entitled “The Story of an Hour”, Louise Mallard is a woman with a heart disease that has many different emotions after she hears about the death of her husband. Her husband’s friend, Richard, lets her know that he died in a railroad disaster which he had knowledge of through a telegram. Richard breaks the news to her gracefully although it still sends her to her room where she can be alone. In

Political Corruption Is The Abuse Of Entrusted Power By Political Leaders For Private Gain, With The Objective Of Increasing Power Or Private Wealth. It Need Not Involve Money Changing Hands; It May...

1542 words - 7 pages DIGITAL BANGLADESH- CAN IT PREVENT CORRUPTION INTRODUCTION : The present fever to launch an extensive digitalization program is sweeping the Bangladesh political, business, and elitist minds. In the face of an overarching outlook of sustainable development the Bangladesh digitalization program runs into some grave questions. The paper points out that ethics as a strongly endogenous force in development is indispensable to keep in view the

Corporate Social Responsibility Essay

335 words - 2 pages Corporate Social Responsibility 3 reasons why business should engage in CSR: 1. One of the most recognizable benefits is that it provides product/brand differentiation. When there are so many companies all attempting to do the same thing, engaging in CSR can help differentiate a company, product or brand. When a customer is deciding on a product with all else variables constant, knowing a particular organizations engages in CSR, can help

Csr Iso 26000 Essay

988 words - 4 pages standard on social responsibility look like? (PDF - 455 kb) IISD weighs in on the ISO Conference on Social Responsibility Standardization, June 21-22, 2004. As many more organizations decide that they must address the principles of CSR, there is a growing need for tools to help them to define and address what CSR means and how to implement it throughout their organizations. At its General Assembly in Stockholm, Sweden, in September 2002, the