RECENT TRENDS IN CORPORATE SOCIAL RESBONSIBILITY

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CONTENTS
       

INTRODUCTION DEFINITION VIEWS STAGES BENEFITS ROLE OF GOVT. ACHIEVEMENTS CSR INITIATIVES

INTRODUCTION
CORPORATE SOCIAL RESBONSIBILITY (CSR) CAN BE DESCRIBED AS THE CONTINUOUS COMMITMENT BY CORPORATIONS TOWARD THE ECONOMIC AND SOCIAL DEVELOPMENT OF COMMUNITIES IN WHICH THEY OPERATE.

DEFINITION


CSR IS ABOUT BUSINESS GIVING BACK TO SOCIETY. CSR IS A BUSINESS PROCESS WHEREIN THE INSTITUTION AND THE INDIVIDUALS WITHIN, ARE CAREFUL AND SENSITIVE, ABOUT THE DIRECT AND INDIRECT EFFECT OF THEIR WORK ON INTERNAL AND EXTERNAL COMMUNITIES, NATURE AND OUTSIDE WORLD.

VIEWS
 

Classical view Social-economic view

STAGES
  

First stage Second stage Third stage

Upward movement in stages

From stage 1 to stage 3
Quality of life management Trusteeship management Profit maximization management

From obligation to responsiveness to responsibility

step by step process
responsibility

responsiveness

obligation

POTENTIAL BUSINESS BENEFITS

   

Human resources Risk management Brand differentiation License to operate

GOVT INVOLVEMENT IN CSR



The govt. is also finalizing plans to ensure that public sector companies also participate actively in CSR initiatives. The Department of Public Enterprises (DPE) is preparing guidelines for public sector to take up important CSR projects to be funded by 2-5 % of the company s net profits. Although corporate India is involved in CSR activities, the central govt. is working on a framework for quantifying the CSR initiatives of companies to promote them further. The Tamil Nadu govt. has presented its CSR awards to corporate companies including Oil and Natural Gas Corporation (ONGC), Steel Authority of India (SAIL), Chennai Petroleum Corporation Limited (CPCL), and Orchid Chemicals and Pharmaceuticals for their CSR activities in different spheres, including agriculture, education, women s empowerment and new and renewable energy.

ACHIEVEMENTS
 

India has been named among the top 10 Asian countries paying increasing importance towards CSR disclosure norms. India was ranked 4th in the list according to social enterprise CSR Asia s Asian Sustainability Ranking (ASR). Corporate India has spread its CSR activities across 20 states, with Maharashtra gaining the most from them. About 36% of the CSR activities are concentrated in the state, followed by about 12% in Gujarat, 10% in Delhi and 9% in Tamil Nadu. In fact, four Indians including Sunil Mittal, Chairman and MD of Bharti group, NRI businessman Anil Agarwal, Shiv Nadar, HCL Technologies Chairman and NGO activist Rohini Nilekani were featured in the Forbes list of 48 Heroes of Philanthropy .

CSR INITIATIVES
 

Reliance industries and two Tata group firms are the country s most admired companies for their CSR initiatives, according to a Nielsen survey. IBM has joined hands with the Tribal Development of Gujarat for a development project. The Indian paints industry is making its product more ecofriendly by opting for water-based paints and making it carcinogen-free. The heating, ventilation, air-conditioning and refrigeration (HVAC) industry is working to get rid of its GLOBAL WARMER stigma through greater use of gases with zero ozone depletion potential (zero ODP). Sustainable Technologies and Environmental Projects Ltd. (STEPS) is planning to start a project to change plastic, organic and electronic waste into petroleum without the usual harmful residue.

RESPONSIBILITY TOWARDS EMPLOYEES

     

Fair wages Good working condition Adequate service benefits Cooperation Recognition of workers rights Opportunity for growth

RESPONSIBILITY TOWARDS CUSTOMERS

    

Need satisfaction Regular flow of goods Courteous service Fair trade practices Right information

RESPONSIBILITY TOWARDS SUPPLIERS

 

Provide accurate information Reasonable price for the articles supplied Promote a healthy atmosphere

RESPONSIBILITY TOWARDS SHAREHOLDERS

   

Reasonable dividend Soundness Information Protection of the assets

ROLE OF PHARMA COMPANIES IN CSR

We can take example of Indian pharmaceutical companies like  

RANBAXY CIPLA LUPIN

ROLE OF FOREIGN COMPANIES IN CSR

We can illustrate it with the help of some following examples   

HYUNDAI MOTORS TOYOTA RUSSELL CORPORATION MATTEL

ENVIRONMENTALLY CONCERN COMPANIES

Some of the companies which are environmentally concerned, are followingMcDonalds S.C. Johnson Northern telecom Polaroid AT&T

    

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