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The practice of CSR is subject to much debate and criticism. Proponents argue that there is a
strong business case for CSR, in that corporations benefit in multiple ways by operating with
a perspective broader and longer than their own immediate, short-term profits. Critics argue
that CSR distracts from the fundamental economic role of businesses; others argue that it is
nothing more than superficial window-dressing; still others argue that it is an attempt to pre-
empt the role of governments as a watchdog over powerful multinational corporations.
1.1 DEVELOPMENT
Business ethics is a form of the art of applied ethics that examines ethical principles and moral
or ethical problems that can arise in a business environment.
In the increasingly conscience-focused marketplaces of the 21st century, the demand for more
ethical business processes and actions (known as ethicism) is increasing. Simultaneously,
pressure is applied on industry to improve business ethics through new public initiatives and
laws (e.g. higher UK road tax for higher-emission vehicles).
Business ethics can be both a normative and a descriptive discipline. As a corporate practice
and a career specialization, the field is primarily normative. In academia, descriptive
approaches are also taken. The range and quantity of business ethical issues reflects the degree
to which business is perceived to be at odds with non-economic social values. Historically,
interest in business ethics accelerated dramatically during the 1980s and 1990s, both within
major corporations and within academia. For example, today most major corporate websites
lay emphasis on commitment to promoting non-economic social values under a variety of
headings (e.g. ethics codes, social responsibility charters). In some cases, corporations have
redefined their core values in the light of business ethical considerations (e.g. BP's "beyond
petroleum" environmental tilt).
1.2 APPROACHES
Some commentators have identified a difference between the Continental European and the
Anglo-Saxon approaches to CSR. And even within Europe the discussion about CSR is very
heterogenous.
To demonstrate good business citizenship, firms can report in accordance with a number of
CSR reporting guidelines or standards, including:
The FTSE Group publishes the FTSE4Good Index, an evaluation of CSR performance of
companies.
The scale and nature of the benefits of CSR for an organization can vary depending on the
nature of the enterprise, and are difficult to quantify, though there is a large body of literature
exhorting business to adopt measures beyond financial ones (e.g., Deming's Fourteen Points,
balanced scorecards). Orlizty, Schmidt, and Rynes found a correlation between
social/environmental performance and financial performance. However, businesses may not
be looking at short-run financial returns when developing their CSR strategy.
The definition of CSR used within an organisation can vary from the strict "stakeholder
impacts" definition used by many CSR advocates and will often include charitable efforts and
volunteering. CSR may be based within the human resources, business development or public
relations departments of an organisation, or may be given a separate unit reporting to the CEO
or in some cases directly to the board. Some companies may implement CSR-type values
without a clearly defined team or programme.
The business case for CSR within a company will likely rest on one or more of these
arguments:
• Human resources
• Risk management
• Brand differentiation
• License to operate
CSR is entwined in the strategic planning process of many multinational organizations. The
reasons or drive behind social responsibility towards human and environmental responsibility
whether driven by ulterior motives, enlightened self-interest, or interests beyond the
enterprise, is subject to much debate and criticism.
CORPORATE SOCIAL RESPONSIBILITY 3
Some critics argue that corporations are fundamentally entities responsible for
generating a product and/or service to gain profits to satisfy shareholders. Milton Friedman
and others argue that there is no place for social responsibility as a business function. These
critics point to the rule of corporate law that prohibits a corporation's directors from any
activity that would reduce profits.
Other critics argue that the practice cherry-picks the good activities a company is involved
with and ignores the others, thus 'greenwashing' their image as a socially or environmentally
responsible company. Still other critics argue that it inhibits free markets or seeks to pre-empt
the role of governments in controlling the socially or environmentally damaging effects of
corporations' pursuit of self-interest.
Some critics believe that CSR programmes are often undertaken in an effort to distract the
public from the ethical questions posed by their core operations. Examples of companies that
have been accused of this motivation include British American Tobacco (BAT), which
produces major CSR reports, and the petroleum giant BP, which is well-known for its high-
profile advertising campaigns on environmental aspects of its operations.
Self-interest
Some CSR critics argue that the only reason corporations put in place social projects is for the
commercial benefit they see in raising their reputation with the public or with government.
They suggest a number of reasons why self-interested corporations, solely seeking to
maximise profits, are unable to advance the interests of society as a whole. They point to
examples where companies have spent a lot of time promoting CSR policies and commitment
to Sustainable Development on the one hand, whilst damaging revelations about business
practices emerge on the other.
• Corporations really care little for the welfare of workers or the environment, and given
the opportunity will move production to sweatshops in less well-regulated countries.
• Companies do not pay the full costs of their impact. For example, the costs of cleaning
pollution often fall on society in general. As a result profits of corporations are
enhanced at the expense of social or ecological welfare.
These critics are generally supporters of Milton Friedman, who argued that a corporation's
principal purpose is to maximize returns to its shareholders, while obeying the laws of the
countries within which it works. Friedman argued that only people can have responsibilities.
Because of this, moderate critics suggest that CSR activity is most effective in achieving
social or environmental outcomes when there is a direct link to profit. This approach to CSR
requires that the resources applied to CSR activities must have at least as good a return as
these resources could generate if applied anywhere else. This analysis drastically narrows the
possible scope of CSR activities.
1.6 DRIVERS
Ethical consumerism
The rise in popularity of ethical consumerism over the last two decades can be linked to the
rise of CSR. As global population increases, so does the pressure on limited natural resources
required to meet rising consumer demand (Grace and Cohen 2005, 147). Industrialization in
many developing countries is booming as a result of technology and globalization. Consumers
are becoming more aware of the environmental and social implications of their day-to-day
consumer decisions and are beginning to make purchasing decisions related to their
environmental and ethical concerns. However, this practice is far from consistent or universal.
As corporations pursue growth through globalization, they have encountered new challenges
that impose limits to their growth and potential profits. Government regulations, tariffs,
environmental restrictions and varying standards of what constitutes labour exploitation are
problems that can cost organizations millions of dollars. Some view ethical issues as simply a
costly hindrance. Some companies use CSR methodologies as a strategic tactic to gain public
support for their presence in global markets, helping them sustain a competitive advantage by
using their social contributions to provide a subconscious level of advertising.(Fry, Keim,
Mieners 1986, 105) Global competition places particular pressure on multinational
corporations to examine not only their own labour practices, but those of their entire supply
chain, from a CSR perspective.
Ethics training
The rise of ethics training inside corporations, some of it required by government regulation,
is another driver credited with changing the behaviour and culture of corporations. The aim of
such training is to help employees make ethical decisions when the answers are unclear.
Tullberg believes that humans are built with the capacity to cheat and manipulate, a view
taken from (Trivers 1971, 1985), hence the need for learning normative values and rules in
human behaviour (Tullberg 1996). The most direct benefit is reducing the likelihood of “dirty
hands” (Grace and Cohen 2005), fines and damaged reputations for breaching laws or moral
norms. Organizations also see secondary benefit in increasing employee loyalty and pride in
the organization. Caterpillar and Best Buy are examples of organizations that have taken such
steps (Thilmany 2007).
Another driver of CSR is the role of independent mediators, particularly the government, in
ensuring that corporations are prevented from harming the broader social good, including
people and the environment. CSR critics such as Robert Reich argue that governments should
set the agenda for social responsibility by the way of laws and regulation that will allow a
business to conduct themselves responsibly.
Often it takes a crisis to precipitate attention to CSR. One of the most active stands against
environmental management is the CERES Principles that resulted after the Exxon Valdez
incident in Alaska in 1989 (Grace and Cohen 2006). Other examples include the lead
poisoning paint used by toy giant Mattel, which required a recall of millions of toys globally
and caused the company to initiate new risk management and quality control processes. In
another example, Magellan Metals in the West Australian town of Esperance was responsible
for lead contamination killing thousands of birds in the area. The company had to cease
business immediately and work with independent regulatory bodies to execute a cleanup.
CORPORATE SOCIAL RESPONSIBILITY 6
COMPANY PROFILE
Earlier, most of the population of India was engaged in agriculture (about 90%) this
was in 1950’s and the Indian agriculture was mainly dependent on rains for irrigation except a
few isolated pockets being irrigated through canals and tube wells. People hardly used
chemicals and pesticides and even the major agricultural operations life ploughing, planking,
etc. were carried down by million of bullocks. As a result, India could not produce enough to
feed its 370 million people, despite 135 million hectares of land under cultivation. To meet the
excessive demand, heavy expenditure was incurred on import of food grains. Import of food
grains proved a compulsive drain on scarce foreign exchange reserves of our country. All this
initiated Indian government to give highest priority to development of agriculture in its five-
year plan programmed.
Irrigation, being the key operation in agriculture, was accorded great important in the
Five Year Plans. A stress was laid on the improvement in agricultural output through use of
advanced technology. Extensive use of effective and improved equipments was made by
importing tractors. All these developments made mechanization mandatory for agriculture.
This also increased demand for tractors. Our Government encouraged manufacturing of
tractors in India to save its foreign currency reserves. As a result, a few plants were set up but
Indian technology at that time was not in a position to design and manufacture indigenous
tractors. So the plants were mainly set up for manufacturing tractors with the help of some
foreign collaboration.
PROMOTION OF PTL
Punjab Tractors Limited (PTL) a joint sector company of the Punjab Government, which went
into commercial promotion in the early seventies, is a unique example of technological self
reliance in a high technology area like the automotive sector in the country. It is promoted by
Punjab State Industrial Development Corporation (PSIDC) in 1974 which was set up by
Punjab Government for setting up new projects.
In 1965 when the entire industrial growth of India relied upon foreign technology and know-
how for setting up industrial ventures in India, the Central Mechanical Engineering Research
Institute (CMERI, Durgapur), a national Laboratory of the Government of India, took the bold
step of taking up the design and development of totally Indian know how for 26.5 H.P.
agricultural tractors.
BACKGROUND
Punjab Tractors Limited (PTL) was promoted by PSIDC to commercialize the indigenous
tractor developed by the Central Mechanical Engineering Research Institute (CMERI). The
Company's plant is situated at S.A.S. Nagar (Mohali) where production commenced in the
year 1974. Initially, PSIDC contributed 42% equity capital against the total paid up capital of
Rs.140.00 lacs. The facility was initially created to manufacture 5000 nos., tractors and the
capital cost at that time was Rs.321 lacs.
The company's product line also includes Combine Harvesters and Forklifts. The
production capacity of tractors has increased to 60000 nos., from the level of 5000 nos. The
company, over the years, has also promoted two companies, namely, Swaraj Mazda Limited
(manufacture of Light Commercial Vehicles) & Swaraj Engines Ltd. (manufacture of Diesel
Engines in collaboration with Kirloskar Ltd and it has also promoted Swaraj Automotives.
The present stake of PTL in these is 14% in Swaraj Mazda, 33% in Swaraj Engines and 24%
in Swaraj Automotives.
A study of PTL history from project stage to its present position of eminence makes a very
interesting reading. It is a fascinating tale of inspiration, dedication, perseverance and a strong
to succeed against all odds and prejudice. All these years could be divided into different
phases:
PTL’s first launch SWARAJ 724 received quite favorable response and encouraged by
this response and also by taking into account the preference of large segments of farmers
for higher HP tractor, development work on a 35 HP tractor was started in January 1975.
PTL introduced its second model SWARAJ 735 in November 1975 which is now the most
OTHER INITIATIVES
Plantation
1) Govt. Elementary School, Chappercheri 11th August 2008
2) Medical Health Combat Panchayat Ghar Chappercheri 23rd August
Beneficiaries 3064
1. Awareness camp for women and children, 13th September
2. Initiative to save village Chappercheri and factory from flooding
3. Blood donation camp, combine23rd Nov, 2008. Units donated to PGI:G8
4. White wash activities at Panchayat Ghar Chappercheri 21st Augut
5. Health Competition Govt, Elementary School vill kailon
30th January 2008
Beneficiary 2007
Social Initiatives
· Overview
CORPORATE SOCIAL RESPONSIBILITY 10
Corporate Social Responsibility has always been an integral part of the Mahindra
Group's vision and the cornerstone of our Core Value of Good Corporate Citizenship.
- Keshub Mahindra, Chairman
The Mahindra Group defines Corporate Social Responsibility as making socially responsible
products, engaging in socially responsible employee relations and making a commitment to
the community around it. At the Mahindra Group, Corporate Social Responsibility is not just a
duty; it's a way of life.
In 2005, the Group celebrated its 60th anniversary by renewing its commitment to Corporate
Social Responsibility. It pledged to dedicate 1% of its profit (after tax), on a continuous basis
towards Corporate Social Responsibility. A unique kind of ESOPs - Employee Social Options
was launched to enable Mahindra employees to involve themselves in socially responsible
activities of their choice. The Group also announced a special gift: to provide free cochlear
implants to 60 profoundly hearing-impaired, under-privileged children.
In addition to giving impetus to the Nanhi Kali project for the girl child and the Mahindra All
India Talent Scholarship for the economically disadvantaged, the Mahindra Group is planning
to set up two Mahindra Pride Schools. These schools will offer a variety of courses, with an
emphasis on employability, including training for Information Technology, Retail, Automotive
Engineering etc. They will provide new skills and capabilities to the weaker sections of
society, particularly the scheduled castes and scheduled tribe youth. While these projects are
already underway, plans for more social initiatives are on the anvil.
· Education
A) K. C. Mahindra Education Trust
Established by the late Mr. K. C. Mahindra in 1953, the K. C. Mahindra Education Trust aims
to ‘Transform the lives of people in India through education, by providing financial assistance
and recognition to them, across age groups and across income strata'. It was registered as a
Public Charitable Trust under the Bombay Public Trusts Act, 1950.
The K.C. Mahindra Education Trust has undertaken a number of education initiatives to make
a difference to the lives of deserving students. The Trust promotes education mainly by way of
scholarships. It has provided more than Rs. 13.80 crores (approximately US $ 3.0 million) in
the form of grants, scholarships and loans. Some of these scholarships were instituted as far
back as the 1950’s, while others were founded recently. These are funded through an
investment portfolio, the main donors of which are the Mahindra Group of companies.
Encouraging Students -
In its efforts to encourage and motivate students, the K. C. Mahindra Education Trust has
set up the following scholarships:
Encouraging Teachers
To further encourage teachers, the Trust has set up
- K. C. Mahindra Chair for Nuclear Chemistry at the Institute of Science, Mumbai.
- Dhandevi Mahindra Scholarship Award at Sophia College, Mumbai
- The Trust has also established several awards and scholarships for the academia.
To empower the under-privileged and disadvantaged sections of society, the Trust has set
up the Mahindra All India Talent Schoarship. These are given to students belonging to
lower income group families, to help them pursue job
oriented diploma courses at recognised government polytechnics. Most of the awardees
are girl students, as the Trust is keen on helping girls earn well, to elevate their standard of
living.
• Nanhi Kali
Government of India statistics reveal that out of every ten girls who enrol in school in
India, only three complete Standard X. The Nanhi Kali project, launched in 1996 by the K.
C. Mahindra Education Trust, aims to change this by providing quality
education to the disadvantaged girl child. This national girl child sponsorship programme
ensures that every girl child completes her ten years of formal school education in an
environment that would help her to realise her potential to the fullest. Also, various
corporates and individuals can join the Nanhi Kali project by becoming guardian angels to
these disadvantaged girls.
What is most encouraging is that it takes only Rs. 5/- per day to take care of the
girl child’s education and provide her with a life of dignity. The project addresses attitudes
and issues towards girl children by sensitising the teachers, family members and
CORPORATE SOCIAL RESPONSIBILITY 12
community on the importance of providing the child with a good education.
Sponsors of Nanhi Kali are provided with a profile of the child (including her
photograph), along with periodic progress reports so that her academic progress can be
tracked. The
Nanhi Kali project is currently looking after the education of 30,000 girl children and
intends to reach out to many more in a phased manner.
Recently, the K.C. Mahindra Education Trust entered into a strategic alliance with Naandi
Foundation, a not-for-profit organisation, to jointly manage the Nanhi Kali project. Naandi
Foundation works with 1500 government schools in Andhra Pradesh, Madhya Pradesh and
Chhattisgarh. Through its ‘Ensure Children Learn Programme’, Naandi Foundation is
creating child-friendly school environments that prevent dropouts and ensure that children
learn. The partnership complements the efforts put in by Naandi Foundation in enriching
the learning environment, by helping the girl child in the form of uniforms, textbooks and
other learning material.
The Nanhi Kali project is spearheaded by Mr. Keshub Mahindra and Mr. Anand Mahindra
on the K. C. Mahindra Education Trust’s board, and Dr. Anji Reddy, Mr. Anand Mahindra,
Dr. Ishar Judge Ahluwalia, Mr. Ramalinga Raju and Mr. K. S. Raju on the Naandi
Foundation’s board.
The Mahindra United World College of India, part of the United World College movement,
was founded by the late Harish Mahindra in 1997. It is the Group’s endeavour to promote
world- class education with an emphasis on the ideals of peace and understanding, central to
the ethos of the United World Colleges. There are 10 United World Colleges spread across the
CORPORATE SOCIAL RESPONSIBILITY 13
globe, with colleges situated in United Kingdom, Singapore, Canada, Swaziland,
Italy, United States of America, Venezuela, Hong Kong, Norway and India. Her Majesty
Queen Noor of the Hashemite Kingdom of Jordan is the President of the United World
Colleges and Mr. Nelson Mandela, former President of the Republic of South Africa, is the
Honorary President of the United World College International Council.
Located 40 kms. west of Pune, the Mahindra United World College of India brings together
students of various nationalities for a pre-university degree. The school is global not only
because of the International Baccalaureate degree, but also because of the true international
culture in which the students study, live and learn. Each year’s batch of about 100 students
accommodates about 65 to 70 from abroad. The faculty includes professors from Argentina,
Australia, Austria, Cameroon, Canada, Colombia, Ecuador, France, Germany, India, Italy,
Japan, Malaysia, Mexico, the Netherlands, New Zealand, Sweden, South Africa, UK and
USA. The teacher-student ratio is 1:9.
This international mix facilitates global exposure and helps students transcend all artificial
barriers based on race, religion, ethnicity, class, gender or nationality. Keen focus is given on
all-round development, and students are encouraged to think innovatively by involving
themselves in socially and environmentally relevant issues. The students also contribute to the
local neighbourhood through community service programmes.
· Environmental Initiatives
Environment protection is a part of everyday being at the Mahindra Group. Right from
Mahindra products such as vehicles which are designed meeting International standards of
Safety and emission, to all Mahindra plants across the nation which comply way beyond
necessary environmental regulations by setting new standards in natural resource
conservation, efficient water management and with the most recent Green IT; Mahindra shows
that it care of planet earth proactively.
Towards making planet earth greener, the Group has vowed to plant a One Million Trees
across the Nation by October 2008 under the Mahindra Hariyali initiative. Mahindra Hariyali,
is a mass tree plantation initiative undertaken by each and every Mahindra location - be it a
Plant/factory setting or a corporate office. Shramdaan by Mahindra employees (and their
families) themselves and even Mahindra dealers is a major driver of the initiative. With strong
and meaningful partnerships with various stakeholders in the civil society such as schools,
colleges, trusts, and also the Government (Forest Departments etc), the Mahindra Hariyali
model ensures plantation and nurturing of these trees in the society at large. What started as a
seed with top management vision is now bearing fruits towards reaching the zenith of
completion.
Since 1984, the Mahindra Group has been lending a hand to the ‘Green Bombay’ movement
by developing and maintaining municipal gardens. Greenery is at a high premium as the city
has less than half an acre of open place per thousand people. That’s ten times less than Delhi
and twenty times less than what London offers.
Excerpts from letters of appreciation the Mahindra Group has received over the years:
The President of India and all VVIP's who witnessed the Presidential Review recently were
very happy about the way the Gateway has been given a new look. This was mainly because
your organisation did a splendid job in giving a face-lift to Shivaji Garden, which added to the
beauty of the surroundings. With your co-operation, the garden stands out as a model to be
emulated by others.
- Mr. D.M. Sukthankar, Municipal Commissioner, Bombay
The Review of the Fleet by the President of India on February 12, 1984 and the other
functions concerned with it have been a great success. This achievement would not have been
possible without the dedicated efforts of a number of agencies. I would like to especially
thank you for your personal interest in the beautification of the garden at the Gateway of
India, which distinctively lent charm and character to the Beating Retreat Ceremony and
reception that followed.
- Vice Admiral R.H. Tahiliant, Flat Office Commanding-in-Chief, Western Naval
Command, Bombay
The traffic island opposite Regal Cinema has become a beautifully appointed garden. Of
greater merit perhaps would be your initiative at undertaking such a job. I consider this a
textbook example of showing us a simple, albeit effective way of improving the quality of life
in this crowded metropolis.
- Sr. Columbiere, Principal, St. Annes School, Bombay
A long-time resident of Bombay, I have been in the Virgin Islands, USA, for the past two
years. On a recent visit home, I was pleasantly surprised to see new greenery in this city. The
CORPORATE SOCIAL RESPONSIBILITY 16
garden at the side of Oval Maidan with its pretty lawns and flaming bougainvillea
specially caught my eye. I am sure that citizens of Bombay greatly appreciated your
company's efforts in beautifying our city.
- Shobha Idnani
· Sports
Mahindra United Football
a) History
All work and no play can indeed make a company very dull. That’s why a simple club with a
few games and basic amenities was set up in 1950. No one ever thought that this would grow
into an establishment that ran a professional team and offered high quality facilities,
incentives and allowances.
The shift was gradual. In 1956, a group of youngsters enrolled themselves as the Mahindra
official team in the Bombay Football League and made valiant efforts to reach the top. To
further improve the standards, the company provided a full- size football field for practice and
training. At this point, with the football teams representing the company at tournaments in
Bombay, the need for a sports club arose. So the Mahindra & Mahindra Allied Company
Sports Club came into being in 1962.
Since then the team has gone from strength to strength, getting into Bombay’s senior division
Harwood League in 1964 and earned the dashing sobriquet, ‘The Giant Killers’. Football was
developing in Maharashtra and in Mahindra too. In 1969, Mr. Harish Mahindra was elected
Vice President of Western India Football Association (WIFA). Mahindra & Mahindra Allied
Company Sports Club, then known as the Orange Brigade, was the most popular team in
Maharashtra after strong teams like TATA’s, Mafatlal’s and Caltex. The late 80’s saw
Mahindra emerge as one of the most formidable teams in the country, attracting talented
international players like P. M. Shivdas, C. Mustafa, Jerry Bassi, Henry Menezes, Santosh
Kashyap and Godfrey Pereira. Top teams like East Bengal, Mohun Bagan and Mohammedan
Sporting went all out to recruit the Mahindra players.
In 2000, the Mahindra Football Team underwent a total revamp and the Orange Brigade
turned red. The team was renamed Mahindra United under the leadership of Mr. Alan
Durante, Executive Director & President of the Automotive Sector. Committed support from
the Chairman, Keshub Mahindra, and Managing Director & Vice Chairman, Anand Mahindra,
set the ball rolling. Big names like Raghavan, Derek Desouza, Harish Rao, Karel Stromsik,
David Booth and Dhronacharya Awardee, Syed Nayeemuddin, have coached the team and
taken it from victory to victory.
There's been no looking back since then. Mahindra United of Mumbai is the only team in
Maharashtra to win the Durand Cup twice, which is the second oldest trophy in the world. It is
CORPORATE SOCIAL RESPONSIBILITY 17
also the first team in Maharashtra to win the Harwood League and the Nadkarni Cup
three times in a row. In fact, right now the Indian football team too, is led by the captain of
Mahindra United.
· M&M won the Auto Monitor CSR award for the Lifeline Express at a glittering
ceremony held in New Delhi on the 7th of March 2008. The Lifeline Express was the
organization’s largest Esops initiative and was undertaken by the FES Rudrapur plant, who
together with other volunteers such as doctors put in an amazing 21,742 man hours.
Awards 2007-08
· Businessworld-FICCI-SEDF Corporate Social Responsibility Award
· Pegasus Corporate Social Responsibility Gold Award for the Mahindra Lifeline Express
and the Nanhi Kali programme
· BSE Business for Social Responsibility Award for Best Corporate Social Responsibility
Practice
· Auto Monitor CSR Award for Mahindra Lifeline Express
Of course the changing nature of business into new global forms can also be an opportunity of
bringing on that level of accountability. Global brands are more vulnerable to public
perceptions about their being ‘good’ simply because much more is at stake, both in terms of
money that is invested in building such brands as well in the markets which they affect.
CSR has a long way to travel. Today it operates in an environment, which is politically
unfavorably balanced for the consumer, and corporates have a larger say in how things are.
Even though CSR relates to ethics in business, at this time it seems that this is more a socially
and legally enforced practice.
• CSR has been a precept in PTL Swaraj Enterprise Ltd. for a long time
• Corporate social environment in PTL Swaraj Enterprise Ltd. has been changing in
view of globalisation, transformation of market environment and deepening of
competition.
• Market economy paved the way for enterprise led development and a new cultural
perspective is taking place in PTL Swaraj Enterprise Ltd. business environment having
strong bearing on social responsibilities
• There is a growing awareness among the corporate about their social responsibilities.
• The major influencing factors of CSR in the PTL Swaraj Enterprise Ltd. are :
• Increasing awareness
o Reputation
o Rising domestic standard
o Rising international standard
o Domestic regulation
o Commercial pressure etc.
Kumar, Rita , Murphy, David F and Balsari, Viraal – “Altered Images: the 2001 state
of corporate responsibility in India poll”. TERI-Europe / New Academy of Business,
2001
• Norris, G., & O'Dwyer, B. (2004). Motivating socially responsive decision making: the
operation of management controls in a socially responsive organisation. British
Accounting Review, 36(2), 173-196.
INTERNET SOURCES:
• http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-
business.html
• The Social Responsibility Of Business Is To Increase Its Profits by Milton Friedman
The New York Times Magazine, September 13, 1970. Copyright @ 1970 by The New
York Times Company.
• http://www.globalchange.com/businessethics.htm
• http://www.swlearning.com/management/management_news/mgmt_news_ethics.html
• http://www.csreurope.org/uploadstore/cms/docs/Business_case.pdf
• http://www.valuebasedmanagement.net/organizations_csr.html
• http://www.toxicslink.org/qdocs/Corporate_Social_Responsibility_in_India.pdf
• http://www.indianmba.com/Faculty_Column/FC730/fc730.html