A PROJECT REPORT ON CORPORATE SOCIAL RESPONSIBILITY FOR GARDEN SILK MILLS LTD. Submitted to S.R.

LUTHRA INSTITUTE OF MANAGEMENT IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION Under Gujarat Technological University UNDER THE GUIDANCE OF FACULTY GUIDE Ms. Delnaz Dastoor Assistant Professor Submitted by JAGDISH E. PATEL Enrollment No: 118050592059 S.R.LUTHRA INSTITUTE OF MANAGEMENT M.B.A PROGRAMME Affiliated to Gujarat Technological University Ahmedabad July 2012 COMPANY GUIDE Ms. NITU PARMAR HR Manager

INSTITUTE CERTIFICATE

Certified that this Summer Internship Project Report Titled Corporate Social Responsibility is the bonafide work of Mr. JAGDISH E. PATEL Enrolment No. 118050592059, who carried out the research under my supervision. I also certify further, that to the best of my knowledge the work reported herein does not form part of any other project report or dissertation on the basis of which a degree or award was conferred on an earlier occasion on this or any other candidate.

Ms. Delnaz Dastoor Assistant Professor

Dr. J.M.Kapadia In charge Director

PREFACE
The project work entitled SERVICE QUALITY MEASUREMENT OF TRAINING INSTITUTE FOR NIIT SURAT. Service quality is the differences between customers expectations of services providers performance and their evaluation of the services they received. Service is an identifiable, intangible activity that is the main objective of transaction that serve to meet the needs of customers. Service quality is the ability of the organization to meet or exceed customer expectations. Customer satisfaction and service quality are often treated together as functions of customers perceptions and expectations and high service quality contribute significantly to profitability. Service quality is required to be first measured in order to improve the quality in a service organization. Measuring service quality accurately in order to have better understanding of its indispensable antecedent and consequences, and eventually ascertain methods for improving and measuring service quality in search for competitive advantage. However, more comprehensive approach requires that many dimensions are to be measured before a complete understanding of Service Quality can be obtained. Such dimensions are as Tangibles, Responsiveness, Reliability, Empathy and Assurance. Contribute ultimately to Service Quality.

ACKNWOLEDGEMENT
Knowledge in itself is a continuous process. At this moment of my substantial enhancement I rarely find enough words to express my gratitude towards those who were constantly involved with me during my project and making it a success. Men become good through practice than by nature. I would like to express to my gratitude to our In Charge Director Dr. J. M. Kapadia for giving me opportunity to learn about practical Human resource environment for a period of 2 months. Also I am thankful to my Project Guide Ms. Delnaz Dastoor, who have shaped my understanding. I am deeply indebted to Nitu Parmar, the HR Manager for his tiredness effort and proper guidance for the same. I cannot forget the contribution of all the members of Garden Silk Mills for their valuable teaching, guidance & help. Finally I also want to extent my gratitude to the employees and staffs of the Company for facilitating to complete the project by providing the necessary information.

DECLARATION

I, Jagdish E. Patel hereby declare that the report for summer training and project entitled Corporate Social Responsibility submitted to S.R.Luthra Institute of Management Studies is a result of my own work and my indebtedness to other work publications if any, have been duly acknowledged.

PLACE: SURAT DATE: Jagdish E. Patel

EXECUTIVE SUMMARY

This report provides an analysis and evaluation of service quality level of NIIT institute and the satisfaction level of existing students. The purpose of this research is to study the expectations of the students of NIIT and perceived performance of NIIT (from students perspective). The research used the service quality (SERVQUAL) dimensions. There are 5 dimensions in SERVQUAL which are reliability, responsiveness, assurance, empathy and tangible. This dimension will be used to identify customer perception towards service quality provided by NIIT as quality services depend on the NIIT employees performance and their ability to provide the services. In this study, the methods used are questionnaire to identify the relevant information regarding the study on customer perception towards service quality.

This project report is divided in two parts .The first part is of General information part that include the overview of the industry and NIIT. Second part is Primary study and it includes the objective of study and Research methodology & analysis, conclusion. For gathering data about the employees satisfaction the structured questionnaire is use.

TABLE OF CONTENTS SR.NO. PARTICULARS PART 1 GENERAL INFORMATION

1 2 3 4 5 Industry Profile Major Companies in Industries Company Profile Product Profile Swot Analysis Functional Department 6 Front Office Back Office

PAGE NO.

PART 2 PRIMARY STUDY

7 Introduction Of Study 7.1 Literature Review 7.2 Background Of the study 7.3 Problem Statement 7.4 Importance of the Study 7.5 Objective Of Study 8 Research Methodology 8.1 Research Design 8.2 Source Of Data 8.3 Data Collection Method 8.4 Sampling Method 8.5 Sampling Size 8.6 Data Collection Instrument 9 10 Data Analysis & Interpretation Result & Findings

11 12

Limitations Of The Study Conclusion/Suggestion Bibliography

Annexure

CHAPTER 1: INDUSTRY PROFILE

World fiber consumption grew by 3.8% in 2006 of this cotton grew by 2.5% and polyester by 4.4%. Polyester filament yarn, the fastest growing major fiber category, and the industry in which your company operates, grew by 6.5% worldwide. China and India are the worlds largest PFY producers. Moreover, PFY growth is completely dominated by these 2 countries. This domination is expected to continue. The world PFY growth, excluding China and India, is strongly negative. Indias PFY industry is still a little over a tenth of the size of China but our growth is expected to be faster. Indias economy has been growing at an unprecedented rate of 8.6% per annum over the last 4 years. Manufacturing has been a great contributor; growing at 9.5% p.a. the accelerated growth of the company has substantially impacted the PFY industry growth as well, which has outperformed the real GDP growth. After a lull for a few years the industry grew dramatically last year eliminating the oversupply that industry observers had predicted would last for a few years more. While capacity grew by 38% to over 2 million TPA, production grew even faster. The growth was due to both export demand as well as domestic consumption. The Indian cotton crop is owing to the rapid increase in yields made possible by increased use of BT cotton and improved water management. However, this is not expected to impact the Indian polyester industry since the global shortage of cotton should imply high cotton prices. In the last budget, import duties on PFY and its raw materials PTA and MFG were reduced form 10% to 7.5%. During the year under review, excise duty on MFG was reduced from 16% to 12% which continues to be much higher than the 8% on PFY and remain an unfortunate anomaly.

The Company operates across the entire polyester chain from polyester chips to finished fabrics. The party insulates it form temporary oversupply in any one component of the chain. It also gives the Company valuable information about final consumer and raw material trends. It also enables it to sense and respond to market movements quickly. Mostly, however, it allows for great synergies in product development that give the company an edge in product innovation and quality. The Companys leadership in product differentiation, product quality and thus price realization gives it the opportunity and justification to grow rapidly in the fast growing PFY industry. The PFY market is the largest synthetic yarn market in India and accounts for over 50% of the total demand for synthetic yarn. Surat and its outskirts provide the largest market for PFY being the heart of the polyester filament weaving and processing industry. The companys manufacturing units have a locational advantage being situated in the heart of the polyester textile industry. Its location gives it proximity to both raw material suppliers as well as end users. The Surat area is also the most innovative textile center which gives the company a natural outlet for its specialty fabrics and yarns. Since the companys primary market is Surat, the ongoing and proposed expansion plans involve considerable production of final down stream/drawn yarn in particular fully drawn yarn and texturised yarn. The company enjoys a strong brand for its fabrics and yarns that has been built over the years. Its fabric distribution network is strong and spread across the country. Its fabric engineering and design capability is second to none in the country.

TEXTILE INDUSTRY IN SURAT

In India the main manufacturing of the textiles is done in the SURAT city. The SURAT textile industry has the largest concentration of looms in the world leaving man-made fabrics. It has a total coverage of approximately 1.75 lacs which is even larger than that of Ahmedabad and Mumbai.

HISTORY OF DEVELOPMENT IN SURAT

It is unbelievable that Surat is the largest center in the world for the production of synthetic fabrics like nylon and polyester. Daily production is about 42lakhs meters valued at Rs 4 crores per day. There are about 160 process houses, which processes nearly 25 lakhs meters per day. The industries in SURAT employees more than 1 lakh workers The beginning of the industry in SURAT is hardly 35 years old. Today, the number of authorized looms in SURAT is approximately 4 lakhs, though the total number of looms are anywhere between 1.5 and 1.8 lakhs. It is known from the reports that daily new machines are imported from china and Korea. There is new trend came which is known is sequence embroidery. These machines costs about 7 to 8 lakhs per machine but it designs many sarees at a time with the help of the computer. These machines are imported from China and Korea generally. In the 1950s, there were only about 7000 power looms in SURAT. The 10 families who have played a leading role for the growth of the industries are Bachkaniwalas, Hathiwala, Vakharia, Dhamanwala, Mahatma, Dr. Amichand Shah, Chevli and Lekhadia. Now days the Textiles business is very big in the SURAT, So, now the SURAT is known as the Textile City.

CHAPTER 3: COMPANY PROFILE

Garden Vareli group of companies, one of the leading industrial groups in India, plays a leading role in the field of fashion fabrics. With annual sales exceeding U.S. $ 90 million, they sell their products under a single banner of quality Garden.

GARDEN SILK MILLS LTD. is public limited company incorporate on July 23, 1979. It was authorized share capital of Rs. 60 crores, Equity shares of Rs. 10 each, out of which around Rs. 3, 82, 90,560 have been issued, subscribed and fully paid up. The shareholders here have seen much appreciation and received regular dividends which impose that the company is getting on prosperous year and is profit making venture. This is attribution to the three generation of the directors who have strived hard for the growth and progress of the company. The company has also seen much of highs and lows of the market and has successfully come out of all those, providing it to be a leader of textiles business of all times.

The company has three production plants : One Vareli complex, at Village Vareli, Near Kadodara Junction,taluka palsana, National Highway .No.8, The Second at Village Jolwa, Near Bardoli, dist. surat and the Registered office at Garden Mills Complex, Sahara Gate, Surat. Today the company has total 293 its own retail and authorized outlets all over india.

The company is having a very setup, with plants to manufacture dress material and sarees, right from the initial stage, viz, chemicals to finished fabrics. This has been possible because of the companys large capital base, attributable mainly to the large amount of share capital raised; reserve of various kinds being cautiously preserved and the loans form bank and financial institutions. The company had also raised capital through debenture in the past, majority of that have been repaid now.

Since our inception we have been delivering excellent financial result year after year. This statement year the financial statement was placed before the board of directors and taken on record at their meeting.

Garden Silk Mills Ltd. is one of the leading & oldest manufactures of synthetic in India. Garden Silk Mills Ltd. has been exporting their products to European markets since late 1970s. The company has made vertical & horizontal integration from its establishment.

The company has achieved a very good brand name in Indian & International market of sarees & dress materials.The company has achieved sales during financial year 2005-2006 of Rs.95,485.95 lacs & for the year 2006-2007 Rs.45,750.23 lacs.

The company has grown in all term during fast few year, in the economics prosperity and in the form of larger asset creation, making Garden Vareli to be leader of all times among textiles companies of the nation. It achieved ISO 9002 on February, 2000, which was its greatest achievement, and Garden Silk Mills become the first company ever achieve such creation in Surat. This has brought fame to the city and to the nation all through the international sales and export income has been considerable. The company is expending even now and planned to increase its capacity in a phased manner until 2002. The company is largest manufactured of POY and PFY in India. The company is the competitors of RELIANCE. The companys strategy is not to be top in the POY, but they are interested in to make the quality product which satisfy the customer needs at the most.

ACHIEVEMENTS OF COMPANY
The company was first to setup a polyester filaments yarn project in south Gujarat. The project is capable of producing multi-filament & micro-filament yarn having a capacity of 5,000 tones per annum in collaboration with non-val leasina ag of switzerland. This project has a special significance for the company, as polyester filament yarn is the basic raw material for the product manufactured by the company. The company was also first in producing of twofor-one twister in india. The company's production facilities boast of one of india's most sophisticated textile plants at vareli, surat (Western India). Its weaving plant comprising nissan and tsudakoma waterjet looms - the highest number of waterjet looms under one roof in india - and rapier looms, automatic shuttle change looms etc, high-tech yarn preparatory machines viz, ziro-twist-sizing, draw-warping, texturising and twisting machines, have a capacity of over 42 lac meters/month of greige fabric. The plant has an iso 9002 certification by bvqi. The company also markets high quality dyed and printed fabrics which it gets manufactured from associated firms.

HISTORY OF ORGANIZATION
The origins of the business go back to 1920 when Mr.Amichand shah installed the first hattersley looms in surat. The company belongs to Garden Vareli Group, which is one of the preceding manufactures of synthetic textiles in the country. Since 1920 the company expanded not only by increasing the production capacity and workforce of the business but also by pioneering new material and processes. To the early beginning of the art silk industry in Surat. Garden Silk Weaving Factory, as it was then named, manufacturing viscose becomes leader in jacquard fabric for years to come.

The managing director of Garden Silk Mills Limited, Mr. Praful Shah is the youngest son of the founder, Dr Amichand Shah. He gained the degree in engineering from the university of Stanford in the USA in 1965 after which he joined the business prior in that date. He even extended the activities of the company to include processing cloth and even processing cloth. As a result of this the company was able to supply finished textiles for the first time. This move in the early 1970s conceded with the opening of the first retail shop in Surat. The extension of the policy of vertical immigration into the retailing sector had advantages of uniform pricing, close market monitoring,

communications between manufacturer and consumer and above all the exerting downward pressure on the final selling price. The dedicated retail network now extends to some 293 authorized outlets. In 1975, the company recruited Fine Arts Graduates from leading institutions and an Art studio was set up. The company started introducing its own designs and supplied these designs in the market. Prior to this, the designs produced had been a function of customer demand and from this point onwards, the emphasis changed the design impetus coming from manufacturers. In the late 1970s, the company started exporting its products to European Market, Given the size of the domestics market, the proportion of the product that are exported remain low at approximately 2% The Company is in the process of further developing market in Africa, Central and Eastern Asia.

In the 1980s, the company developed a new site-Vareli, some 12 kms away from Surat. This has become the manufacturing plant and investment of more than 2 billion has been made. Most of this expenditure has been targeted at the expansion and modernization of plant and equipment, particularly in the weaving and yarn preparatory sections. As a result, the company today has one of the most modern and sophisticated textile plants in India.

The company has further its policy of vertical Integration by setting up a new plant, also near Surat, from which it will manufacture polyester filament yarn, one of its principle raw materials from polyester chips. Today, the company is one of the largest manufacturers in India of high fashioned, premium quality, dyed and printed textiles fabrics, both polyester and viscose comprising a range of chiffon and georgettes, crepes and faithful ladies, fashion as well as Indian sarees, The company also manufacturers an exclusive range of pure silk and cotton fabrics. The fabrics are marketed under the famous names Garden and Vareli.

LOCATION OF OFFICES, BRANCHES & FACTORIES.

PLANTS:

1. Vareli complex, Village Vareli, Taluka. Palsana, Dist. Surat 394 327 Tel: (02622) 271241 47

2. Village Jolva, Taluka. Palsana, Dist. Surat 394 305 Tel: (02622) 271287-89

 BANKERS:
1. Bank of Baroda

2. Allahabad Bank 3. State Bank of Saurastra 4. Bank of India 5. State bank of Patiala 6. Corporation Bank 7. Union bank of India

REGISTERED OFFICE
Sahara Gate, Surat 395 010. Tel: (0261)2311197-98, 2311615 Fax :( 0261)2311029/502 Email: sharedepartment@gardenvareli.com

CORPORATE OFFICE:
Manek Mahal, 90, Veer Nariman Road, Church gate, Mumbai-400 020 Tel: (022) 2287 3117-19 Fax: (022) 2204 8112

 REGISTERED & TRANSFER AGENT:

MCS Limited, Neelam apartment, 88, Samapatrao colony, Federation Building, Alkapuri, Baroda 390 007

CHAPTER 4: PRODUCT PROFILE

Products Of Garden Silk Mills are:

Polyester Chips/Melt Polyester Filament Yarn Fabrics Others M.E.G P.T.A Spin Fin Oil Job Work Readymade Garments

CHAPTER 5: SWOT ANALYSIS

Strengths Vast textile production capacity Large pool of skilled and cheap work force Entrepreneurial skills Efficient multi-fiber raw material manufacturing capacity Large domestic market Enormous export potential Very low import content Flexible textile manufacturing systems

Weaknesses Increased global competition in the post 2005 trade regime under WTO Imports of cheap textiles from other Asian neighbors Use of outdated manufacturing technology Poor supply chain management Huge unorganized and decentralized sector High production cost with respect to other Asian competitors.

Opportunity Growth rate of Domestic Textile Industry is 6-8% per annum. Large, Potential Domestic and International Market. Product development and Diversification to cater global needs. Elimination of Quota Restriction leads to greater Market Development. Market is gradually shifting towards Branded Ready-made Garment. Emerging Retail Industry and Malls provide huge opportunities for the Apparel, Handicraft and other segments of the industry. Greater Investment and FDI opportunities are available

Threats Competition from other developing countries, especially China. Continuous Quality Improvement is need of the hour as there are different demand patterns all over the world. Elimination of Quota system will lead to fluctuations in Export Demand. Threat for Traditional Market for Power loom and Hand loom Products and forcing them for product diversification. Geographical Disadvantages. International labour and Environmental Laws. To balance the demand and supply. To make balance between price and quality

CHAPTER 6: FUNCTIONAL DEPARTMENTS

Organization structure
Top management (All partner)

Chairman

Managing director

General Manager

Production

Selling

Finance

Human resource

Manager

Manager

Manager

Manager

Asst. manager

Sales executives

C.A.

Asst. manager

Workers

Staff

Asst. manager

Comp operators .

CHAPTER 7: INTRODUCTION TO STUDY

7.1 Literature Review

The precise nature of CSR is understood in different ways, with differences in understanding or representation of the concept relatable to different paradigms and concerns. Although there are several contested notions of what CSR should be and how it should work, there is some agreement upon what it broadly entails. A number of concepts and issues are subsumed under the heading of CSR, including human rights, environmental responsibility, diversity management, sustainability, and philanthropy (Amaeshi & Adi, 2006), meaning that it is a complex area with an interdisciplinary focus. It is generally agreed that CSR involves corporations voluntarily exceeding their legal duties to take account of social, economic and environmental impacts of their operations. For example, the European Commission defines CSR as: "a concept whereby companies integrate social and environmental concerns in their business operations and in their interactions with their stakeholders on a voluntary basis" (European Multistakeholder Forum on CSR, 2004: 3) Others have expanded the stakeholder definition beyond individuals and groups to include, for example, the environment (Haigh & Griffiths, 2007). The notion of the stakeholder translates into accountability on the part of a company, whether to people or non-human stakeholders (Jacobs, 1997). Consideration of the social, economic and political context demonstrates how CSR forms part of a wider strategic direction being taken internationally with regard to state/market relations and the pursuit of a range of objectives and goals. The context is in part provided by concerns about the numerous examples of irresponsible behaviour on the part of corporations, ranging from colluding with oppressive regimes and in the overthrowing of governments (Alston, 2005) to issues relating to working conditions and the impact of unethical marketing practices (Richter, 2001). Such examples have demonstrated the need for the worst excesses of business to be curbed. The globalised economy is understood

to raise important issues for businesses and governments due to changes in patterns of production and consumption. In particular it is noted that the manufacturing of goods is "highly mobile" (Cassell, 2001:263) and that supply chains are often dispersed transnationally, creating difficulties in terms of legislation and regulation. The relative power of large corporations compared to that of certain states is significant: "In their negotiations with the governments of host countries their ability to pick up and leave provides them with a great deal of leverage over states dependent upon the jobs that they provide" (Wells & Elias in Alston, p144, 2005) Economic globalisation therefore presents challenges to the ability of states to protect people's rights (Cassell, 2001). The notion of corporate social responsibility is part of the 'third way' (Gond & Matten, 2007), where the role of the state is now to provide "steering for the promotion of social development and social justice" (Giddens, 2001: 6). There is increased involvement of the private sector in traditionally statutory provision through privatisation and public/private partnerships (e.g. see Meehan, 2003). Economic policies have created a need for markets and business to self-regulate in order to continue to pursue an international free market economy, but also to ensure sustainability (of economic, human and other resources, and of the environment). CSR is seen as a solution to these problems of regulation.

A great deal of CSR literature is concerned with the perceived dichotomy of the normative and instrumental approaches. Much of the literature promotes the 'business case' for CSR with many claiming that "ethics can be good for business" (Swain in The Independent, 2007). CSR is understood to be a means of distinguishing and protecting brands and creating trust, and to attract and retain both potential employees and consumers. It is argued that CSR needs to be made relevant to the concerns of business people by emphasising and focusing on this 'instrumental' approach:

"CSR needs to be reconstructed in an instrumental linguistic praxis to be meaningful to managers in their day-to-day pursuits of organisational goals and objectives" (Amaeshi & Adi, 2006: 3) Beesley & Evans (1978) suggest that governments should promote CSR through taxation and regulation to ensure that it is profitable for corporations to pursue CSR, and that it is only an achievable goal if competitive pressures are removed. "Many HR advocates resist any arguments to the effect that a corporate HR agenda is 'good business' because that argument commodifies basic principles of human dignity and thus surrenders the moral high ground. In this view, corporations should protect human rights because it is the right thing to do, whether it is profitable or not" (Steinhardt in Alston, 2005: 179)

It is argued that an instrumental approach would only involve acting ethically as long as it was profitable to do so, whereas a normative approach suggests a more consistent ethical performance (Gond & Matten, 2007). Research demonstrates that the driving force for corporations to adopt CSR values is often catalysed by particular events. Cassell (2001) suggests that, for the most part, the adoption of voluntary codes by MNEs came "only after embarrassing public exposes of sweatshop conditions" and, further, that "the resulting voluntary codes have been weak and their enforcement even weaker" (2001: 268) suggesting that there has been as little commitment as possible. In such cases, an instrumental approach would seem to have been inadequate in ensuring genuine commitment to socially responsible business practices. In practice, whether or not CSR is employed normatively or instrumentally by individual corporations seems likely to be differentiated according to context. As will be discussed in the following section, different approaches in particular are related in the literature to different conceptions of the role of corporations as well as to differences in personal values.

7.2 Background Of Study MEANING:

Corporate social responsibility (CSR) describes companies

responsibilities vis--vis society in the areas of environment, social issues and economy. CSR initiatives are the contributions that companies make in areas where they interact with wider society in the framework of their business activities. For instance, they might set up an in-house kindergarten or organise health campaigns for their, squeeze energy consumption with eco-efficiency analyses and energy-saving systems or promote art, culture and sport. An essential feature of CSR is that it is voluntary and goes beyond compliance with statutory requirements. The term corporate social responsibility is often used interchangeably for other terms such as Corporate Citizenship and is also linked to the concept of Triple Bottom Line Reporting (TBL), which is used as a Framework for measuring an organisations performance against economic, social and environmental parameters. The rationale for CSR has been articulated in a number of ways. In essence it is about building sustainable businesses, which need healthy economies, markets and communities. The key drivers for CSR are:

Enlightened self-interest-creating a synergy of ethics, a cohesive society and a sustainable global economy where markets, labour and communities are able to function well together.

Social investment- contributing to physical infrastructure and social capital is increasingly seen as a necessary part of doing business. Transparency and trust - business has low ratings of trust in public perception. There is increasing expectation that companies will be more open, more accountable and be prepared to report publicly on their performance in social and environmental arenas

Increased public expectations of business - globally companies are expected to do more than merely provide jobs and contribute to the economy through taxes and employment.

EVOLUTION OF CORPORATE SOCIAL RESPONSIBILITY: The phrase Corporate Social Responsibility was coined in 1953 with the publication of Bowens Social Responsibility of Businessmen. The evolution of CSR is as old as trade and business for any of corporation. What does it

mean for a corporation to be socially responsible? Academics and practitioners have been striving to establish an agreed-upon definition of this concept for 30 years. In 1960, Keith Davis suggested that social responsibility refers to businesses' "decisions and actions taken for reasons at least partially beyond the firms direct economic or technical interest." At about the same time, Eells and Walton (1961) argued that CSR refers to the "problems that arise when corporate enterprise casts its shadow on the social scene, and the ethical principles that ought to govern the relationship between the corporation and society.

The concept of CSR in India is not new, the term may be. The process though acclaimed recently, has been followed since ancient times albeit informally. Philosophers like Kautilya from India and pre-Christian era philosophers in the West preached and promoted ethical principles while doing business. The concept of helping the poor and disadvantaged was cited in much of the ancient literature.

Corporations around the world are struggling with a new role, which is to meet the needs of the present generation without compromising the ability of the next generations to meet their own needs. Organizations are being called upon to take responsibility for the ways their operations impact societies and the

natural environment. They are also being asked to apply sustainability principles to the ways in which they conduct their business. Sustainability refers to an organizations activities, typically considered voluntary, that demonstrate the inclusion of social and environmental concerns in business operations and in interactions with stakeholders.

The quality of relationships that a company has with its employees and other key stakeholders such as customers, investors, suppliers, public and governmental officials, activists, and communities is crucial to its success, as is its ability to respond to competitive conditions and corporate social responsibility (CSR). Responsible corporate are concerned with reconciling and aligning the demands, needs, interests, and values of employees, customers, suppliers, communities, shareholders, nongovernmental organizations (NGOs), the environment, and society at large. A companys track record in terms of CSR accounting will be effective when appropriate CSR measures are included in its internal as well as its supply-chain activities. Today, Corporate Social Responsibility (CSR) has become a worldwide concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, employees, shareholders, communities and the environment in all aspects of their operations. It is one of the most important global issues with serious challenges and implications on almost all sectors. Surging economies, including India, are coping with issues related to poverty, child rights, community welfare etc and are a hotbed for an innovative CSR Scenario which is still shaping up. As corporate have been regarded as institutions that cater to the market demand by providing products and services, and have the onus for creating wealth and jobs, their market position has traditionally been a function of financial performance and profitability. The rapidly growing field of CSR was initially a tactic used by major corporations aiming to pacify consumers' ethical concerns, with origins in the

anti-corporate and anti-globalization protests of the late 1990s. Today, CSR is epitomized as the voluntary ethical behavior of a company towards society-including shareholders and stakeholders "holding" human and employee rights, environmental protection, community involvement, and supplier relations as core values. CSR does not embody a single issue. It doesn't concern green issues, workers, or communities exclusively, as these are all key issues which, working together may in time for the solution we are looking for a solution that the world badly needs. The core principles of CSR are not new. Even when the responsibility of industry was viewed as being exclusively economic in nature from at least the start of the industrial revolution there were some notable displays of philanthropy,especially in the US. Publications on social responsibility date back to the 1930s, while Milton Friedmans oft-quoted article, 'The Social

Responsibility of Business is to Increase its Profits' dates from 1970. IESE Business School in Barcelona, pioneers in the field, published 'The Social Responsibilities of Business' in 1980. Professor of Business Ethics at IESE, Joan Fontrodona, states that "The heightened awareness of social responsibility in recent years has been borne out of business scandals and crisis, but it is here to stay. Much work lies ahead and the process is slow, but there are many reasons to be optimistic." Much of that optimism, he states, is based on a new social consciousness, and the development of tools to support practice and implementation.

7.3 Objective Of the Study

To Study the Corporate Social Responsibility practices by Garden Silk Mills Ltd. To present the overview of the various schemes in terms of the amount spent. To identify the awareness of CSR Activities amongst beneficiaries.

To evaluate the Impact of the Corporate Social Responsibility Practices of Garden Silk Mills Ltd. To determine the satisfaction levels of Beneficiaries. To examine the extent to which the grants given to various beneficiaries have benefited them. To examine the impact of grants under SC/ST Component Plan on the

socio economic status of the beneficiaries.

7.4 Importance Of the Study

The study will be benefited to understand: The study has helped in getting practical exposure to the companys CSR system. To know the effect of various CSR activities to the beneficiaries and society as whole. To understand the practical implication of CSR fund allocation procedures and legality in the organization.

CHAPTER 8: RESEARCH METHODOLOGY

8.1 Research design

The research design used for this study is of the descriptive type.

8.2 Data Sources

1. Primary Data: The Primary data was collected from the respondents by administering a structured questionnaire and also through observations, interviews & discussion with employees.

2. Secondary Data: Apart from Primary data, the secondary data is being collected through Text books, records of Garden Silk Mills, Journals from Library, Academic Reports, and Internet, used for this study.

8.3 Data Collection Method

It was collected through existing employee of Garden Silk Mills , by formal and informal talks and through filling up the questionnaire prepared.

8.4 Sampling Method

The research was made by the survey in accordance to the convenience of the employees. So the sample type is convenience sampling.

8.5 Sample Size

Sample size is selected portion of all the population. My . I have taken 70 existing employeed of Garden Silk Mills as a sample size.

8.6 Data Collection Instrument

A structured Questionnaire is used, and Likert Questions are used in it. Questionnaire was designed in such a manner that it would facilitate the respondents to reveal maximum information. The questionnaire has 12 Questions excluding age. A five point Scale was used such as strongly disagree, disagree, neutral, agree and strongly agree.

CHAPTER 9: DATA ANALYSIS AND INTERPRETATION