Seminar Report

ON

TOPIC: - Social responsibility of the business

(2011-2013)

Submitted To : Prof. AMANPREET SINGH Submitted by: DIMPLE KUMAR MBA II SEC D Roll No.: 6350

SCHOOL OF MANAGEMENT STUDIES PUNJABI UNIVERSITY PATIALA

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ACKNOWLEDGEMENT

I would like to take this opportunity to thank Dr. Amanpreet Singh, lecturer, MBA Department, SMS, Punjabi University, Patiala who has been guiding force for my Report on Corporate Social Responsibility. I am also thankful to my friends, for their support and encouragement in finding out the appropriate material for this Report, without them making this report would have been impossible. Moreover I would be thankful to the MBA department for granting us with such good books which help us with our project preparations and also helpful in enhancing our knowledge and overall outlook regarding the subject.

Dimple Kumar MBA 2 (D) Roll No. 6350

1.Introduction
The recent economic meltdown reminds us of the damage caused by the uncontrolled private economic independence blended along with irresponsible behaviour of the corporate world. Through the years, the corporate entities have redefined their role in this multifarious society. From a raw idea of profit maximization, its objective was changed to profit optimization. This change can mainly be attributed to the identification of challenges posed by the various social and economic concerns. The viability and sustainability of such enterprises were questioned. The ongoing debate mainly draws the attention towards the success and effectiveness of the voluntary compliance towards the environmental laws, legal requirements, honest financial accounting shown by the companies and the boundaries defined by it. Major debates exist over a number of key issues related to achieving efficient and fair mechanisms at a global level. This cynicism could be marked as the beginning of the theory of Social Responsibility of business.The operations of business enterprises affect a wide spectrum.The resources they make use of are not limited to those of the proprietors and the impact of their operations is felt also by many people who are in no way connected with the enterprises..The shareholders ,the suppliers of resources, the consumers , the local community and society at large are affected by the way an enterprise functions . Hence ,a business enterprise has to be socially very responsive so that a social balance may be struck between the opposing interests of these groups. According to most analysts , industry in this era can no longer be regarded as a private arrangement for enriching shareholders. It has become a joint enterprise in which workers, management, consumers, the locality ,the government and trade union officials all play a part. If the system of corporate environment has to work properly and effectively , it has to be accountable to the public at large. It is from here that the concept of SOCIAL RESPONSIBILY OF BUSINESS comes into existence.

2. Social Responsibility of business

There is no unanimity as to what constitutes corporate social responsibility. The important generally accepted responsibilities of the corporate is world is towards Shareholders, employees, consumers and community

2.1. Definitions
Social responsibility of business refers to what the business does ,over and above the statutory requirement ,for the benefit of the society. The word responsibility connotes that the business has some moral obligations to the society. According to Lord Holme and Richard WattsSocial Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large According to the European commission Corporate Social Responsibility is a concept whereby companies decide voluntarily to contribute to a better society and a cleaner

environment. Moreover a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. According to Archie B. Carroll ,Corporate Social Responsibility can be defined as the entire range of obligations business has to society.

2.3. History
The term " social responsibility of business" came into common use in the late 1960s and early 1970s after many multinational corporations formed the term stakeholder,

meaning those on whom an organization's activities have an impact. Before, for every business organisation, the main objective was profit maximization. As the time passed, and with the advent of globalization and technological advancement ,with the help of automation and reduced workforce, it was felt that besides thinking only about enriching the shareholders ,would not do for the business firms. People were more alert ,employees working were more concerned and Governments were more strict. It was felt that businesses could directly or indirectly affect the interests of Local community, Shareholders, Employees,

Government, Society and consumers .Such communities which could, directly or indirectly get affected by the working of business were termed as Stakeholders. In this way the concept of CORPORATE SOCIAL RESPONSIBILITY came into existence,whereby it became important for the business firms to work according to the interests of their stakeholders. This led to the concept of DOING BUSINESS WITH RESPONSIBILITY

3. Concept Of Social Responsibility of business

The concept of Corporate social responsibility is very wide and it has been defined differently by different kinds of analysts. There are two most famous approaches used by the business analysts :

3.1. ThreeDimensional conceptual Model Of Corporate Performance

Archie B. Carroll defined corporate social responsibility as the entire range of obligations business has to society, has proposed a three dimensional conceptual model of corporate performance. According to Carroll, a firm has the following four categories of obligations of corporate performance; ECONOMIC: The firm being an economic entity, its primary responsibility is economic, that is, efficient operations to satisfy economic needs of the society and generation of surplus for rewarding the investors and further development. LEGAL: Legal responsibilities are also fundamental in nature because a company is bound to obey the law of the land.
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ETHICAL: Ethical responsibilities are certain norms which the society expects the business to observe though they are not mandated by Law. For Example, a company shall not resort to bribing or unethical practices ,unfair competitive practices etc.

DISCRETIONARY:

Discretionary

responsibilities

refer

to

the

voluntary

contribution of the business to the social cause, like involvement in community development or other social programmes In this way Carroll presented a pyramid of corporate social responsibility in which economic responsibilities are at the base of pyramid, succeeded by legal responsibilities , ethical responsibilities and finally Discretionary responsibilities.

3.2. Modern Approach Of Social Responsibility of business

According to todays approach, company is responsible for its work to its stakeholders, that is people who directly or indirectly get affected by the working of business .It must take responsibility to such class of people.

The above mentioned diagram represents the responsibility of company to various class of people. These can be regarded as stakeholders CONSUMERS LOCAL COMMUNITY SHAREHOLDERS EMPLOYEES GOVERNMENT SOCIETY
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3.2.1. Responsibility To Consumers

According to Peter Drucker, there is only one valid definition of business purpose; to create a customer. Drucker observes: The customer is the foundation of a business and keeps it in existence. He alone gives employment. To supply the wants and needs of a customer , society entrusts wealth-producing resources to the business enterprise It has been widely recognised that customer satisfaction shall be the key to satisfying the organisational goals. Important responsibilities of the business to customers are: To improve the efficiency of the functioning of the business so as to increase productivity and reduce prices, improve quality and smoothen the distribution system to make goods easily available

To do research and development , to improve quality and introduce better and new products.

To take appropriate steps to remove the imperfections in the distribution system , including black marketing or profiteering by middlemen or anti social elements.

To supply goods at reasonable prices even when there is a sellers market.

To provide the required after-sales services.

To ensure that the product supplied has no adverse effect on the customer.

To provide sufficient information about the products ,including their adverse effects, risks, and care to be taken while using the products.

To avoid misleading the customers by improper advertisements or otherwise.

To provide an opportunity for being heard and to redress genuine grievances.

To understand customer needs and to take necessary measures to satisfy theses needs
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3.2.1.1. Need
The need for responsibility to customers is to its utmost, in present era. A business organisation cannot surpass its interests over the interests of consumers ,in this era of competition .A customer of this century is more alert and knows his/her priorities. Moreover the intervention of consumer oriented regulations and consumer acts ,make sure that corporate profit making does not take place ,via compromising the interests of consumers .Hence the prime objective of companies has shifted from profit making to profit optimization. Moreover it has been seen from recent times that an organisation which works ,keeping in view the interests of consumers, are more profitable in their business ventures and profit making

3.2.1.2. Case Study

Tyson Foods, Inc. is a multinational corporation based in Springdale, Arkansas, USA, that operates in the food industry. The company is the world's second largest processor and marketer of chicken, beef, and pork and annually exports the largest percentage of beef out of United States. Recently, Tyson made a great effort towards consumer satisfaction ,by launching a campaign in Austin in which it agreed to donate 100 pounds of chicken to the Capital Area Food Bank of Texas for every comment posted on its blog. The step was taken to make sure the company makes an impression of consumer oriented corporation. Most of the times, the eatables are found to be of reasonable price range, offered by this company.In return ,it has been found that the company is strongly benefitted from such policy opted.

Toyota Motor Corporation, abbreviated TMC, is a multinational automaker headquartered in Toyota, Aichi, Japan. It is one of the largest automobile manufacturers of the world.

Recently, in India ,the two models of this company, being best sellers in the Indian market were found to have a defect in the inlet pipe to fuel tank. These models were Sedan Etios and small car Liva.The company immediately decided to call back 41000 units of both the car models and also decided to replace the defective parts of the sold cars in free. Sandeep Singh, Deputy MD of Toyota Motors said about replacing the defective parts in just 45 minutes ,free of cost,making it sure that the consumers have no problem regarding their product sold to them. This step taken by Toyota has led to increase in their sales in recent times and people have
drifted their interests from companies like Maruti, Hyundai etc to Toyota, creating a positive impression. 10

3.2.2. Responsibility To The Community

A business has a lot of responsibility to the community around its location and to the society at large. These responsibilities include:

Taking appropriate steps to prevent environmental pollution and to preserve the ecological balance.

Rehabilitating the population displaced by the operation of the business, if any.

Assisting in the overall development of the locality.

Taking steps to conserve scarce resources and developing alternatives ,whereby possible.

Improving the efficiency of the business operation .

Contributing to research and development .

Development of backward areas.

Promotion of ancillarisation and small scale industries .

Making possible contribution to furthering social causes like the promotion of education and population control.

Contributing to the national effort to build up a better society.

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3.2.2.1. Need
In terms of a simple meaning, a community basically means a group of people living in a particular area. The social responsibility of companies to such people is very important, not only with regard to the locality, but it also makes an impression towards the people. It has been said that COMMUNITY FORMS A CONSUMER .The company must also take the responsibility to education and appraisal of the society. Moreover the working of the company might result into pollution, hence it must make itself responsible for such activities. Government regulations, moreover can hinder the working of the company, if its found to have gone negative with the concept of responsibility to Locality. In addition to it, such activities relating to education appraisal and environmental pollution control can improve brand image of that company. This creates trust in the mind of a consumer, towards a company, regarding its products and services offered.

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3.2.2.2. Case Study

Infosys Limited, formerly Infosys Technologies Limited, is a global technology services company headquartered in Bangalore, India. It has offices in 29 countries and development centres in India, US, China, Australia, UK, Canada, Japan and many other countries. Infosys has over 145,088 employees of 85 nationalities. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries. Infosys is actively involved in various community development programs. Infosys promoted, in 1996, the Infosys Foundation as a not-for-profit trust to which it contributes up to 1%PAT every year. Additionally, the Education and Research Department (E&R) at Infosys also works with employee volunteers on community development projects. Infosys leadership has set examples in the area of corporate citizenship and has involved itself actively in key national bodies. They have taken initiatives to work in the areas of Research and Education, Community Service ,Rural Reach Programme, Employment, Welfare activities undertaken by the Infosys Foundation, Healthcare for the poor, Education and Arts & Culture. Moreover it contributes in charity too. In October 2009, the northern districts of Karnataka were severely affected by floods after torrential rainfall. It claimed hundreds of lives and rendered millions of villagers homeless. The employees of Infosys joined hands to rebuild villages and undertake a mass housing project. Infoscions, together with the Board of Directors and the Infosys Foundation, contributed US$ 6.8 million towards relief, rehabilitation and reconstruction. In one more such case, Infosys donated 10 million (about $226,000) to help with the effects of the 2005 Kashmir earthquake in Pakistan.

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3.2.3. Responsibility to employees

The responsibility of the organisation to the workers include:

The payment of fair wages .

The provision of labour welfare facilities to the extent possible and desirable

The provision of best possible working conditions

The establishment of fair work standards and norms

Arrangements for proper training and education of the workers.

Reasonable chances and proper system for accomplishment and promotion

Proper recognition ,appreciation and encouragement of special skills and capabilities of the workers .

The installation of an efficient grievance handling system.

An opportunity for participating in managerial decisions to the extent desirable

The incorporation of good managers with skilful techniques to handle the employees

Installation of recreational activities and other motivational programmes so as to create the work friendly environment and prevent stress in the organisation.

Promotion of formal communication system within the organisation, between the employees and superiors.

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3.2.3.1. NEED
The success of an organisation depends to a very large extent on the morale of the employees and their whole hearted co operation. Employee morale depends to a large extent on the discharge of the companys responsibilities to them and the employeremployee relationship .It is very important, in fact most important to the business organisation to impart its responsibility to employees, if its main objective is to earn profit. It is due to the fact that business is run by its employees and not the owners. The employees must be satisfied with their job and this can only be possible if the business organisation is concerned about its employees .Hence ,most of the times its found that every business organisation ,of any sort, always gives priority to its responsibility towards its employees. It is usually found in most cases that the company with satisfied employees usually gives better business performance.

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3.2.3.2. Case Study

Google Inc. is an American multinational Internet and software corporation specialized in Internet search ,cloud computing, and advertising technologies. It hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising programs. Google very early realised that an innovative workforce is very important to technology-driven companies. The company is very famous for creating an informal, playful atmosphere in its offices to stimulate creativity. Google spends millions of dollars offering employees on-site laundry services, hair stylists, saunas, free car washes and more, its shareholders can't complain. The stock has delivered a 80% return over the past five years. Hence the company knows that business is done by employees and not by shareholders. Google, thereby, manages to reward both shareholders and employees. It has been found out that employees of Google are most satisfied by their job and most of them enjoy working in such environment granted by Google management. According to a survey conducted by an anonymous institution, Google is found to have ,one of the very few companies with maximum number of satisfied employees, in the world. Moreover the remuneration schemes opted and employee welfare criteria followed by them is immensely liked by the business analysts. There is an effective conflict management and stress management techniques used by Google. The environment granted by Google to its employees is said to have friendly and stress free, thereby letting the employees to impart maximum performance.

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3.2.4. Responsibility To Shareholders

The responsibility of a company to its share holders, who are the owners , is indeed a primary one. The fact that the shareholders have taken a great risk in making investment in the business should be adequately recognised. To protect the interests of the shareholders and employees, THE PRIMARY BUSINESS OF A BUSINESS IS TO STAY IN BUSINESS. To safeguard the capital of shareholders and to provide a reasonable dividend, the company has to strengthen and consolidate its position .Hence , it should develop and improve its business and build up its financial independence. Needless to say, to provide dividend ,the company should earn sufficient profit . Adequate reserves should be built up so that it will be able to declare a reasonable dividend during a lean period as well. If a company fails to cope with changes in a changing and dynamic world , its position will be shaken , and the shareholders interests will be affected . By innovation and growth the company should consolidate and improve its position and help strengthen the share prices . The shareholders are interested not only in the protection of their investment and the return on it but also in the image of the company. It shall therefore e fully satisfied by the management.
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3.2.5. Responsibility to Government

The responsibility to Government is indirect. The government is meant to safeguard the interests of the people, the society , within which the government is elected. HENCE satisfying the government with regard to responsibility means satisfying the people of that country. There are certain rules and regulations relating to safeguard the interests of the people . Its the responsibility of the company to follow those rules and regulations. Certain laws of the government directly clash with the profit making interests of the company. With no choice, the company has to follow them, thinking with regard to future. With such rules followed, the companies get good support from the government and it helps in expanding business and profit optimization in long term prospective. Such companies are helped with partnerships and loans from government bodies , hence creating a mutual interdependence between them. The best example of such mutual interdependence is GM MOTORS, the American automobile company, which filed Chapter 11 bankruptcy protection in a New York court on June 1, 2009.The government immediately took an action and bought 60 percent shares of the company. Most analysts believe that this was due to the fact that GM has a reputation of a responsible company for almost 100 years towards the government and towards the society , within which the company works.

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4. The Indian scenario

The Indian business sector presents a mixed picture as far as social responsibility is concerned. This has started to occupy a prominent place in greater national discourse in the pre-independence era. Until the 1990s, CSR were purely conducted for charity. Companies like Tatas and Birlas were involved in CSR activities like financial grants for needy. The corporate sector seems to have picked CSR activities after 1991 reforms of economic liberalization, which provided a pathway for transformation of Indian businesses into large global enterprises. Though industrial groups have resorted to a large scale welfare programs before 1991, the beginning of economic liberalization and the free market economy in India has major impact on increased focus on the social role of the private enterprises by both the proponents and opponents of liberalization in India.

4.1. Legal framework

Corporate Social Responsibility has been making an increasingly prominent impact in the Indian social psyche by supplementing development projects towards betterment of the standard of life. But it is not a novel concept in India as its historical roots goes till the Vedic age. In the past it was seen as a tool to organise the society together with strong community ethos. Indian system of Corporate Social Responsibility can be divided into three: (1) Gandhi an model: It is based on a voluntary agreement by the donor and the society based on its commitment to public welfare based on ethical awareness of broad social needs.

(2) Nehru model: It is State-driven policy as it takes over the industry and imposes strict regulations on them.

(3) Milton Friedman model: The interaction is limited to investors objectives opposed to companys overall image and direct and indirect stakeholder interests. Such a legal framework provides for companies to work with responsibility. Hence, number of leading companies have shown recognition of the corporate sector. The business communities has been instrumental in setting up hundreds of institutions of public services in India and expended welfare measures like health and medical facilities to people of surrounding villages, due to the fact that government supports the concept.

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4.2. CASE STUDY TATA

Tata Group is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, India. Right from its origin at 1968, the company is known to have worked for the people, its employees and according to government regulation. The many companies of Tata are involved in a wide variety of community development projects and programmes, principally in India but also, increasingly, in different parts of the world. In fact, TATA was responsible for the beginning of corporate social responsibility in India. J.R.D TATA was instrumental in conducting the first social audit in India. It was noticed there was a great deal of improvement in the effectiveness of the workers and employees after such an audit. There are many companies and department which are devoted to CORPORATE SOCIAL RESPONSIBILITY ,WHICH ARE AS FOLLOWING: Tata Institute of Fundamental Research Tata Institute of Social Sciences Indian Institute of Science National Centre for Performing Arts Tata Management Training Centre Tata Memorial Hospital Tata Football Academy Tata Cricket Academy The JRD Tata Eco technology Centre
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5. Social Audit ,THE TECHNIQUE TO MEASURE CORPORATE SOCIAL RESPONSIBILITY.

One important issue related to social responsibility of business is how to evaluate the social performance . Bauer and Fenn Jr. define social audit as a commitment to systematic assessment of and activities on some meaningful , definable domain of the companys activities that have social impact . According to Ahmed Belkauoui ,social audit much like the financial audit is an identification and examination of the activities of the firm in order to assess , evaluate , measure and report their impact on the immediate social environment. In simple words , social audit involves : Identification of the firms activities having potential social impact.

Assessment and evaluation of the social costs and social benefits of such activities .

Measurement of the social costs and benefits .

Reporting , that is presenting in a proper format and manner , the social performance of the firm

5.1. Methods of Social Audit

Some of the important methods of social audit developed by different people or organisation are as: Social Process Audit: The aim of the social process audit , also called as Programme management audit , is to develop an internal management information system that will allow management to create and administer the social programmes in a better way . This involves the determination of the
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objectives of the social programmes and the social cost benefit analysis of the programmes with a view to determining whether these objectives have been met.

Financial Statement Format Audit: Under the financial statement format audit , the social information is presented in the conventional financial statement format, i.e. , balance sheet and income statement.

Macro-Micro Social Indicator Audit: The macro- micro social indicator audit attempts to evaluate the micro indicators against a set of macro indicators such as national policies.

Constituency Group Audit: Under this audit, the preference and attitudes of various constituencies are identified and measured and the firms performance is evaluated against the criteria developed for each group.

Partial Social Audit : Partial Social Audit evaluates any particular aspects of social performance like energy conservation or ecological preservation.

Comprehensive Audit: Comprehensive audit attempts to evaluate the total performance of the organisation including social performance.

Corporate Rating Approach: In contradistinction to the audits mentioned above, this an external evaluation of the companys performance by public groups like customer organisations , social welfare organisations or media

5.2. Obstacles to Social Audit

Social audit encounters a number of problems: Being a relatively new concept, social audit is yet to gain wide appreciation and acceptance.

Being a relatively new concept, a clear and generally well accepted methodology for conducting the social audits is not available.
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5.3. Social Audit In India

Although the idea of social audit originated in the United States about half a century ago, it is only recently that it received serious attention of corporations even in the advance countries.

The first comprehensive social audit in India was conducted by the TISCO{Tata Iron and Steel Company Limited}, in 1980.It was conducted by the Social Audit Committee appointed by the Board of Directors of the company to examine and report whether , and the extant to which , the company has fulfilled the objectives contained in clause 3A of its Articles of Association regarding its social and moral responsibilities to the consumers , employees , shareholders , society and the local community.The report of the committee was a glowing tribute to the endeavours of the company in the discharge of its social and moral obligations to the various segments of the society.

Some companies like the Cement Corporation of India have been making some social reporting in their annual reports .

The High Powered Expert Committee on Companies and MRTP Acts observes that the acceptance of the concept of social responsibility must be reflected in the information and disclosures that the company makes available for the benefit of its various constituents shareholders , creditors , workers and the community- and has suggested that a provision may be made in the Companies Act that every company shall give a social report which will indicate and quantify , in as precise and clear terms as possible , the various activities relating to social responsibility which have been carried out by the company in the previous year. The committee has further suggested that it is possible that a company may be required to alter its memorandum with respect to the objects of the company so as to carry out its activities as an obligation to the concept of social responsibility. It should be pointed out here that the TISCO had , in 1970 ,voluntarily incorporated in its Articles of Association its social and moral responsibilities to the consumers , employees , shareholders ,society and the local people .
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5.4. Illustration Of social Accounts [CEMENT CORPORATION OF INDIA LTD.]

1. Social Benefits and Costs to Staff A. Social Benefits to staff 1. Medical and hospital facilities. 2. Educational facilities. 3. Canteen facilities. 4. Recreation, entertainment and cultural activities. 5. Housing and township facilities. 6. Water supply, concessional electricity and transport . 7. Training and career development. 8. Provident fund, gratuity , bonus and insurance benefits. 9. Holiday, leave encashment and leave travel benefits. 10. Other benefits. TOTAL BENEFITS TO STAFF B. Social costs to staff 1. Lay off and involuntary termination. 2. Extra hours put in by officers voluntarily. TOTAL COST TO STAFF SOCIAL INCOME TO STAFF [A-B]

11. Social Benefits and costs to Community A. Social Benefits to Community 1. Local taxes paid to panchayat / municipality. 2. Environmental improvements. 3. Generation of job potential 4. Generation of business TOTAL SOCIAL BENEFITS TO COMMUNITY. B. Social Costs to Community 1. Increase in cost of living in the vicinity on account of cement plans.

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111. Social Benefits and Costs to General Public A. Social Benefits to general Public. 1. Taxes, duties, etc., paid to state government. 2. Taxes, duties etc., paid to Central Government. TOTAL BENEFITS TO GENERAL PUBLIC. B. Social Costs to General Public. 1. State services consumed- electricity 2. Central services consumed- Telephone, Telegraph, Postal Services and Banking TOTAL COSTS TO GENERAL PUBLIC. NET SOCIAL BENEFITS TO GENERAL PUBLIC 111[A-B] NET SOCIAL BENEFITS TO STAFF, COMMUNITY AND GENERAL PUBLIC [1+11+111}

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6. Arguments Against Social Involvement

Business should confine to its own business. There are government and social organisations to carry out social activities.

Involvement in social activities could adversely affect the economic health of a business enterprise. It may be noted that the expenditures on social welfare has been improving severe burden on companies following the concept of CSR.

If the cost of the social involvement of the business is ultimately passed on to the consumers, there is no point in exalting the social involvement of business. Sometimes there could even be a net loss to the society because of the high cost of the corporate sector undertaking such activities.

Many companies involve themselves in social activities because of the tax exemptions on the income spent on special social purposes.

If the social involvement of a business enterprise causes an increase in the price of its products, it could affect its competitiveness both in the domestic and international markets.

Social involvement of business could lead to an increase in the dominance or influence of business of business over the society.

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7. Case Study

Emissions, effluents and wastes

Greenhouse Gas (GHG): Of the six Greenhouse Gases, Carbon Dioxide is of most relevance to the steel industry. Considerable reduction has been effected by Tata Steel in the Carbon Dioxide emission rate, as is evident when the credit for slag granulation is taken into account. Other Greenhouse Gas emissions do not result from Tata Steels activities. Ozone depleting substances: The Steel Works reduced use of refrigerants to 7.044 tonnes in 2003-04 as against 7.90 tonnes used during the previous year. Hazardous Waste under Basel Convention: The Company does not import or export any waste, deemed hazardous under the Basel Convention. All hazardous wastes generated are handled as per the requirement of the Hazardous Waste Management and Handling Rules 1989/2000. Emissions Tata Steel has undertaken several initiatives, which have resulted in considerable reduction in stack emission. Emissions are well below the Indian and international standards. The emission load including particulate matter, Sulphur Dioxide and Oxides of Nitrogen have dropped as a result of the improvement initiative undertaken at the Steel Works.
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Work area environment Tata Steel has implemented a variety of mitigative measures to improve the working environment at the shop floor and work area environment quality at different places. Water discharges, runoff and the receiving ecosystems The Company discharges its treated effluent from the works and treated domestic sewage from township to the rivers Subernarekha and Kharkai. Studies carried out by NEERI in the year 1993-95 and 2000 to assess impact on ecosystems/ habitats of rivers have found no significant impact on the aquatic eco-system. Noamundi and Joda Iron Mines as well as West Bokaro and Jharia Collieries have all achieved zero discharge. The domestic effluent is discharged through the septic tank - soaking pit route at the Mines & Collieries. Sewage treatment plants have been provided for the entire township at Jamshedpur. 100% of effluent water is treated before being discharged upstream. Waste handling Most of the solid waste generated from Steel Works is recycled or reused. 18% of the solid waste generated, amounting to approximately 5,50,000 tonnes in 2003-04 was used to fill low-lying areas and for peripheral road construction around Jamshedpur. About 2,00,000 tonnes of fly ash and bottom ash, generated in the power plants was dumped in a designated dump area. Effluent Management Waste water from the steel making process is being treated with best available physiochemical methods as well as being recycled. Waste water from the coke plant is treated biologically where organic pollutants are oxidised and decomposed by micro organisms. The Company has reduced the levels of total pollutant discharge in waste water streams from 0.211 in 1999-2000 to 0.178 in 2003-04. THERE IS AN INTERESTING FACT REGARDING TATA THAT IT SPENDS 65% OF ITS PROFITS ON CHARITY PURPOSES.
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Mahindra & Mahindra Limited (M&M) is an Indian multinational automaker headquartered in Mumbai, Maharashtra, India. It is one of the largest automobile manufacturer by production in India and subsidiary of Mahindra Group conglomerate. The company was set up in 1945 in Ludhiana as Mahindra & Mohammed by brothers K.C. Mahindra and J.C. Mahindra and Malik Ghulam Mohammed. The company has been working continuously towards the RESPONSIBILITY TOWARS ITS COMMUNITY, thereby working towards rise of CSR in India. The KC. Mahindra Education Trust was founded almost over 60 years ago in 1953 to transform the lives of people in India through education and financial assistance across age groups and income strata. Since then, the company has provided the disadvantaged students with more than USD 16 million in grants , scholarships and loans. Moreover: The company has reached 83,245 beneficiaries through grants, scholarships, and loans. 5,804 Mahindra All India Talent Scholars have pursued vocational diploma courses at Government polytechnic colleges. 1,023 deserving students have pursued graduate studies overseas with the K.C. Mahindra Scholarship for Post Graduate Studies Abroad. 3,467 top scoring students have received Mahindra Search for Talent scholarships. 75,000 underprivileged girl children have gone to school with Project Nanhi Kali. 3,000 disadvantaged youth have graduated from Mahindra Pride Schools with employable skills and good jobs. The K.C. Mahindra Education Trust is a registered public Charitable Trust under the Bombay Trusts Act, 1950, and the Mahindra Group is the main donor to its investment portfolio.

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Conclusion

India in the global level has emerged as a global leader with regards to knowledge and in creating an intellectually high and socially sound society even on a limited basis. This development can be mainly attributed to highly qualified research foundations and their deep commitment towards problems in the system. Preparing corporate sector to tackle those problems would provide much needed support to the independent organisation functioning across the world. It would help to replicate success achieved through sustainable development and disseminate it to the other parts of the world. A concern for social and environmental development should be made a part of every corporate entity through its inclusion in the annual agenda backed by strong and genuine programmes. Its up to the lobbying groups and governmental agencies to convince the corporate power houses to come
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forward and take up the challenge by making them aware of the associated advantages that these companies stand to gain from Corporate Social Responsibility. The argument that Corporate Social Responsibility is not the area of concern of business corporations, and that it is only for individuals and governments reasoning that it is the returns to the shareholders that matter does not stand in the modern world. This microscopic view needs to be altered as gone are those days where a sector was depend on a single enterprise limited to the borders of that country. The holistic objective must be to achieve the macro-economic goals such as achieving public welfare and sustainability of environment. The theory behind the origin of CSR is growth oriented. It says that the income is earned only from the society and therefore it should be given back; thus wealth is meant for use by self and the public; the basic motive behind all types of business is to quench the hunger of the mankind as a whole (not specific to a particular geographical area); the fundamental objective of all business is only to help people.

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BIBLIOGRAPHY

Library resources
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