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AN ASSIGNMENT ON CORPORATE AND SOCIAL RESPONSIBILITY VALUES OF INDIAN MANAGERS

Submitted to: Dr Neena Sinha

Submitted by : Amul Shrestha (114) MBA 4thsem(GH)

Corporate social responsibility is a form of corporate self regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance within the spirit of the law, ethical standards, and international norms. CSR is a process with the aim to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders It is not difficult to find the social missions that have become part of the culture of Indian businesses. The social mission for Bharti Airtel, for example, was to get cell phones into the hands of the hundreds of millions of people in India who otherwise had no way to communicate with each other. Tata Motors had a similar goal with respect to providing low-cost transportation in the form of the Nano. The social mission of the pharmaceutical and healthcare company, Dr. Reddys, is to address the unmet medical needs of the poor in India as well as around the world. Hindustan Unilevers Project Shakti uses microfinance principles to create a sales force in the poorest regions of the country. ITC, a leading conglomerate, made the following statement in describing the companys purpose. Envisioning a larger societal purpose has always been a hallmark of ITC. The company sees no conflict between the twin goals of shareholder-value enhancement and societal-value creation. These companies put their money where their mouths are with respect to mission. A large proportion of the profits of the Tata Group companies, for example, go to its charitable foundations and back into Indian society. The Godrej Group has constructed schools, medical clinics, and living facilities for employees on a scale unknown in American companies. In America, directors and executives are far more likely to see employee welfare as a drag on shareholder value than an asset for company growth.

The corporate and social responsibility values of Indian managers are as follows: To develop an effective CSR programme encompassing environment, workplace, community and Market place issues that will deliver agreed CSR targets To establish a mechanism and strategy to engage employees To understand industry standards for measurement and establish CSR performance indicators to bring the organisation in line To develop and author an annual CSR report that provides clear direction on strategy, delivery and performance To establish charity partnership programmes and develop relationships with key business contacts within partners To act as the main point of contact for Business in the Community To manage the companys Business in the Community CR Index submission To engage internal stakeholders and establish a network of CSR Champions within the organisation To establish a CSR Steering Group within the organisation To ensure effective communication methods are in place to communicate business ethics, CSR targets and performance To attend relevant industry events To act as the knowledge leader and expert for CSR

The followings are the social responsibility of Indian managers: Organizational Resources - An organization has a diverse pool of resources in form of men, money, competencies and functional expertise. When an organization has these resources in hand, it is in better position to work for societal goals. Precautionary measure - if an organization lingers on dealing with the social issues now, it would land up putting out social fires so that no time is left for realizing its goal of producing goods and services. Practically, it is more cost-

efficient to deal with the social issues before they turn into disaster consuming a large part if managements time. Moral Obligation - The acceptance of managers social responsibility has been identified as a morally appropriate position. It is the moral responsibility of the organization to assist solving or removing the social problems .

Tata Steels CSR Policy The Ministry of Steel confers Tata Steel Limited with the Prime Ministers Trophy for two consecutive years 2008-09 and Certificate of Excellence for the year 2009-10 On unveiling Tata Steels Corporate Social Responsibility Policy, its Managing Director, Mr. B. Muthuraman, said; Tata Steel believes that the primary purpose of a business is to improve the quality of life of people. Tata Steel will volunteer its resources, to the extent it can reasonably afford, to sustain and improve the quality of life of the people of the areas in which it operates. Tata Steels commitment to its corporate social responsibility (CSR) also finds reflection in its adoption of the Corporate Citizenship Index, Tata Business Excellence Model and the Tata Index for Sustainable Development. Tata Steel spends 5-7 per cent of its profit after tax on several CSR initiatives. Broadly speaking, the companys CSR initiatives are spread across three core areas - employee welfare, the environment and the welfare of the community at large. Under this broad spectrum, diverse areas are covered. These include environment management, economic development, employee relations, civic amenities and community services, healthcare, sports and adventure, relief during natural calamities, education, arts and culture and social welfare.

(a) Supports Social Welfare Organisations: To achieve its desired objectives in this regard, Tata Steel supports various social welfare organisations. They include the Tata Steel Rural Development Society, Tribal Cultural Society, and Tata Steel Foundation for Family Initiatives, National Association for the Blind,

ShishuNiketan, School of Hope, Centre for Hearing Impaired Children and the Indian Red Cross Society, East Singhbhum. Tata Steel has hosted 12 Lifeline Expresses in association with the Ministry of Railways, Impact India Foundation and the Government of Jharkhand. It has served over 50,000 people. Five thousand people have availed of surgical facilities and over 1,000 people received aids and appliances. In all, over seven Lakh rural and another seven Lakh urban population have been benefited by the CSR activities of Tata Steel. CSR initiatives on the rural front include training in agriculture that is provided to villagers in the Saraikela Kharsawa area through the village development committees. In collaboration with the Ministry of Non-Conventional Energy and the Confederation of Indian Industry, focus is laid on renewable energy for rural livelihoods. Integrated wasteland development programmes have been taken up as also watershed development programmes for rain-fed areas. (b) Self-Help Groups (SHGs): The National Horticulture Mission programme that has been taken up in collaboration with the Government of Jharkhand has already benefited more than a thousand households. Over 500 self-help groups are currently operating under various poverty alleviation programmes. Of this, over 200 are engaged in activities of income generation thorough micro enterprises. Womens empowerment programmes through Self-Help Groups have been extended to 700 villages. Between 2003 and 2006, the maternal and infant survival project had a coverage area of 42 villages in Grammarian block in Saraikela Kharsawa even as a replication project was taken up in Raj agar block. For providing portable water to rural communities 2,600 tube wells have been installed for the benefit of over four Lakh people. (c.) Healthcare Projects: Other CSR activities of Tata Steel include facilitation of child education, immunization and childcare, plantation activities, creation of awareness of AIDS, healthcare projects and promotion of sporting activities such as football and archery. In its 100th year, the Tata Steel Centenary Project has just been announced. (d) Economic Empowerment: A programme aimed at economic empowerment through improvised agriculture will be taken up in three backward tribal blocks in Jharkhand, Orissa and Chhattisgarh. A corpus of Rs 100 crore has been earmarked for the purpose and the programme is expected to benefit 40,000 tribal living in over 400 villages in these three States.

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