Acknowledgement

A report of this nature cannot be a single persons job. There are a number of people who are directly or indirectly involved in its compilation so we owe a debt of gratitude to many people. First and fore mostly we would thank our guide Dr. Sunil Shukla for providing us such an interesting topic to study. He being a support of pillar throughout our project and without him this report would not have been possible. Last but not least we would like to e press our thanks to !r. "ushil #$omputer lab in charge% without whose help the report could not have taken shape and also my gratitude for Mr. Bajpai #Library in charge% who was always ready to provide all books& maga'ines and journals which we re(uired for the compilation of our report.

Group members are: Priyanka Sinha tishree Agarwal Payal Sa!ena Prince "aj Agarwal Anukaran Sahai Manish #umar Sharma

P"$%A&$

$orporate "ocial )esponsibility #$")% is the alignment of business operations with social values. *t takes into account the interest of stakeholders in the companys business policies and actions. This study provides the latest material for the readers. *t tries to e plain all the necessary aspects of $orporate "ocial )esponsibility& which are emerging in todays corporate scenario. $") focuses on the social& environmental& and financial success of company + the so,called triple bottom line +with the aim to achieve social development while achieving business success. $ompanies now per'orm in non( 'inancial arenas such as human rights& business ethics& environmental policies& corporate contributions& community development& corporate governance and workplace issues. Social and en)ironmental per'ormances are considered side by side with financial performances. From local economic development concerns to international human right policies& companies are being held accountable for their actions and their impact. n the new global economy* companies that are responsive to the demand of all of their stakeholders are arguably better positioned to achieve long term financial success. *t is no longer optional for a company to communicate its environmental and social impacts- such information is pertinent in information + driven economy& and improved communication has become critical for sustainable business growth. +he new slogan: $") has become the password to not only overcome competition but to ensure $") is the point of convergence of various initiatives aimed at ensuring socio,economic development of the community which would be livelihood oriented as a whole in a credible and sustainable manner. .ot only the shareholders but stakeholders by and large cncompassing the whole community have supported it. &orporate ,irtue s n is the slogan and why not/ *t offers so many advantages including a hike of profits.

ntroduction to the topic

The 0orld 1usiness $ouncil for "ustainable 2evelopment in its publication used the following definition. 3 Corporate Social 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. CSR is about business giving back to society. 0e live in an age in which companies e(uivalent in wealth to countries call the shots and control as much of the earths resources. 1ecause corporate intervene in so many areas of social life& they must be responsible towards society and environment. *n *ndia as in the rest of the world there is a growing reali'ation that capital markets and corporations& are after all& created by society and must therefore serve it& not merely profit from it and that consumers and citi'ens campaigns can make all the difference. $orporate "ocial )esponsibility is necessarily an evolving term that does not have a standard definition or a fully recogni'ed set of specific criteria. 0ith the understanding that business plays a key role on the job and wealth creation in society& $") is generally understood to be a way company achieves a balance or integration of economic environmental and social imperatives while at the same time addressing shareholder and stakeholder e pectations. The way businesses involve or engage the shareholders& employees& customers& suppliers& governments& .45s international organi'ations is usually the key feature of the concept. 0hile business compliance with laws and regulations on social& environmental and economic objectives set the official level of $") performance. From the progressive business perspective& $") usually involves focusing on new opportunities as a way to respond to interrelate economic& social and environmental demands in the market place. !any firms believe that this focus provides a clear competitive advantage and stimulate corporate innovation .$") is generally seen as the business contribution to the sustainable development which has been defined as the 3developments that meets the needs of the present without compromising the ability of the future generations to meet their own needs6 and generally understood as focusing on how to achieve the integration of economic& environmental and social imperatives.

$") commitments and activities typically address aspects of firms behavior with respect to key elements as- health and safety& environmental

protection& human rights& human resource management practices& corporate governance community development and consumer protection& labor protection supplier relation& business ethics& and stakeholders right. $orporations are motivated to involve stakeholders in their decision, making and to address societal challenges because todays stakeholders are increasingly aware of the importance and impact of corporate decision upon society and the environment. The stakeholders can reward or punish the corporations. $orporations can be motivated to change their corporate behavior in response to the business case& which a $") approach potentially promises.

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Though the corporate social responsibility has only recently been formulated& there is a long history in both the 7ast and 0est of a commitment to social philanthropy& in the believe that the creation of wealth is primarily geared for social good. The primary drive for ethical business and $") came from the 8"A and 7urope in the 9:s and ;:s from campaigns run by pressure groups such as 4reen peace and Friends of the earth. $onsumer boycotts& direct actions& shareholder action& ethical shopping guides& ethical product labeling schemes& media campaigns and ethical competitors became increasingly effective in changing corporate perspective. The mid,;: was the watershed years for the new consciousness in the international corporate polity. This was the time when two prominent !.$s were compelled by ethical market forces to re,orient their business attitudes. *n <;;= "hell dumped its 1rent "par oil platform in the .orth "ea. >ublic agitation in 7urope was so intense that in 4ermany the sales fell by ?:@ within a fortnight. "imilarly& .ike& the shoe apparel giant& ran aground thanks to a campaign against child labor and worker e ploitation in many of the ?:: factories across A: countries. An opinion poll conducted on behalf of $") 7urope concluded thatB 5ver half of those surveyed felt that the businesses do not pay enough attention to their social responsibilities. 5ver one,(uarter said that they had engaged in activities in the previous si months. A business enterprise today is judged by the criteria& which are very different from those of a century ago. *t has not only to be efficient and effective by earning more profits and satisfy the investors and financiers by paying them higher return on the investment but it has also be conscious of its wider social responsibilities.

,iew on &orporate Social "esponsibility

There are certain views on $") that influences managerial behavior and reflect a vast array of values& perceptions& attitudes& needs and e periences. The different views are in the form of various definitions (uoted by renowned personalities of eminent fields. Some are as 'ollows: According to Adolph Berle 2social responsibility could be defined as the managers responsiveness to public consensus. According to -. ". Bowen 2it is the obligation to pursue those decisions, or to follow those lines of action which are desirable in terms of the objectives and values of society. According to G. A. Steiner& 3in the real sense& the assumption of social responsibilities implies recognition and understanding of aspirations of the society and determination to contribute to their achievement6. According to #oont3 and .4Donnell& 3"ocial responsibility may be regarded as the personal obligation of people as they act in their own interest to assure that the rights and legitimate interests of other in are not signed.6 According to #eith Da)is& Social responsibility refers to two type of business of business obligation viz. (a) he socio economic obligation and (b) Socio human obligation. 0e)itt says& 3*f business assumes a large measure of responsibility for employee welfare& it will lead to a sort of neo feudalism with all its paternalistic and autocratic ills. The result would be socially less desirable than in the days before businessmen were concerned with social responsibility6. According to "ichard 5atts& 3$orporate "ocial )esponsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the (uality of life of the workforce and their families as well as of the local community and society at large.6 From Ghana& 3$orporate social responsibility is about capacity building for sustainable livelihoods. *t respects cultural differences and finds the business opportunities in building the skills of employees& the community and the government6.

&orporate Social rresponsibility

$orporate *ndias latest obsession is corporate social responsibility. Talk to any company one can hear many stories of how the company has helped the victims of natural calamity& undertaken poverty alleviation and even assisted the government in improving the civic amenities. This is the new age of $"). A company wants to be rated as much by its contribution to society as by its improvement in its bottom line. Two three years ago companies were in a different mood& that was also a different era. The companies then were optimistic of business prospects- life began and ended with increasing shareholders value. 7ach company was in competition with the other to make more profits. Ces governance& rules and accountability were important& but for most of the companies this was not the issue that dominated the top managements mind space. Today the companies seem to be worried about trust& values and social responsibility. !ost business leaders today feel that company must move from accountability to transparency. *t is argued that the companys financial performance should not be the sole criterion for the success. "hareholders are important but more important are other stakeholders, its customers& its employees and the communities in which they operate. *ndias much,maligned public sector has been on the forefront of what e perts today describes as corporate social responsibility. The problem with $") began when the *ndian 4overnment e pected the private sector companies to play a similar role as the public sector companies did. There were not too many enlightened private sector companies that came forward in response to government plea. The government did not give up- it introduced fiscal incentives to encourage private sector companies to undertake rural development programmers. *t introduced a clause in the industrial policy that the companies that wish to set up industries in backward area would receive special benefits. 8nfortunately none of the incentives could encourage the private sector to take up projects in large numbers. Finance !inister Daswant "ingh understood the real problem with the concept of corporate social responsibility. $orporate must be judged by how they create wealth. 5ne can put inn place rules and regulations to ensure that wealth creation takes place openly and responsibly but why e pect the corporate to be judged by what charity they offer to different stakeholders in the society/

0orse& any e cessive emphasis on $") might encourage the government to offload some of its responsibilities to be performed by the corporate sector. There are clear dangers for $") is allowed to take over the role of the state. The state can partner with the private sector to improve the public services. 1ut there has to be clear and transparent rules that should govern such initiatives. 5therwise mindless pursuit of $") might be harmful for both growth and governance.

Arguments against &orporate Social "esponsibility

*f the arguments against a socially responsible approach were widely accepted& nobody would even be talking $") because everyone would be doing it . Those of us who spend our time marshalling the case for would do well to spend a little time hearing the case against and considering what should be the response. Let me know if there are stronger arguments you feel have been missed from this section or stronger rebuttal cases. Businesses are owned by their shareholders( any money they spend on so called social responsibility is effectively theft from those shareholders who can& after all& decide for themselves if they want to give to charity. This is the voice of the lassie faire <;9:s& still being given powerful voice by advocates such as 7laine "ternberg. "ternberg argues that there is a human rights case against $")& which is that a stakeholder approach to management deprives shareholders of their property rights. "he states that the objectives sought by conventional views of social responsibility are absurd. .ot all aspects of $") are guilty of this however. "ternberg states that ordinary decencyhonesty and fairness should be e pected of any corporation. "esponse B *n the first instance& this case strongly depends on the model of social responsibility adopted by the business being a philanthropic one. The starting point assumption is that& through $") corporations simply get to 3give away6 money& which rightfully belongs to other people.

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There are many arguments in support of socially responsive actions. !ore important of them are below,

6. &hanged public e!pectation o' business:( 5ne of the most important

advantage for social responsibility is that e pectations from business have changed. *t is reasoned that the institution of business e ist only because it satisfies the valuable needs of society. "ociety gave business its charter to e ist& and the charter can be amended or revoked at any time that the business fails to live up to the societys e pectations.

7. Better en)ironment 'or business:(

Another advantage favoring social responsibility is creates a better environment for business. This concept rationali'es that a better society produces environmental conditions more favorable for business operations. The firm& which is most responsive to the improvement of community (uality of life& will as a result have a better community in which to conduct its business. Labour recruiting will be easier& and labour will be of a higher (uality. Turnover and absenteeism will be reduced. As a result of social improvements& crime will decrease with the conse(uence that less money will be spent to protect property& and less ta es have to be paid to support police forces. The arguments can be e tended in all direction s to show that a better society produces a better environment for business.

8. Public mage: ( Another advantage of social responsibility is that it improves

public image. 7ach individual firm seeks an enhanced public image so that it may gain more customers& better employees& more responsive money markets and other benefits. A firm& which seeks better public image& should support public goals.

9. A)oidance o' Go)ernment "egulation: ( 4overnment is a massive

institution with long arms. *t seeks to regulate business in the public interest. 4overnment regulation is costly and denies the much needed freedom in decision, making. 1efore the 4overnment stretches its long arms& business should discharge its obligation to society.

:. Business has the "esources: ( Another advantage of social responsibility is

that business has a vast pool of resources in terms of men& talents& functional e pertise and money. >robably business is without peers in respect of the resources it possesses. 0ith these resources at its command& business is in a better position to work for social goals. ;. ncrease moral responsibility: ( *t is said that the acceptance of corporate social responsibility is increase the moral position. This notion suggests that our

modern industrial society faces many serious social problems brought on to a large e tent& by large corporations. The corporations therefore have a moral responsibility to help solve or remove these problems. A corollary to this notion is that because business firms control so many of the resources in our economy& they should devote some of these resources to the overall betterment of society.

7. Increased profit: - Several academic studies have shown a direct

correlation between socially responsible business practices and positive A 6<<= DePaul >ni)ersity study 'ound that companies with a de'ined corporate commitment to ethical principles do better 'inancially ?based on annual sales@re)enuesA than companies that donBt. An 66(year -ar)ard >ni)ersity study 'ound that 2stakeholder( balancedC companies showed the 'our times the growth rate and eight times the employment growth when compared to companies that are shareholder(only 'ocused.

D. Access to capital: - $ompanies that are committed to $") often have

access to capital that would not otherwise be available& due to the increase in "ocially )esponsible *nvestment #")*%. A E::< study showed that <E@ of total investment in the 8"A was of a socially responsible nature. Likewise& there were F<F green& social and ethical funds operating in 7urope in Dune E::F& showing a <E@ increase in the last eighteen months.

<. "educed operating costs@increased operational e''iciency: ( 1y

considering impacts& a companys actions can result in environmental& social and economic benefits. $onstruction firms& for e ample& reusing products on,siteB reduces landfill& reduces community and noise disturbance of additional trucks bringing material to the site& reduces the environmental impact of damage caused by heavy truck wheels and reduces cost for the client of buying new material.

6E. $nhanced brand image and reputation: ( A good reputation is often very
hard to build + and yet can be destroyed in less than a day. "o much of a companys reputation results from Gtrust by stakeholders. A strong reputation in environmental and social responsibility can help a company build this trust. However& it needs to result from real practices and policies and integrity towards the companys responsibilities. "takeholders are not stupid and can see through Gfluff. .on 4overnment 5rgani'ations #.45s% and local communities are far more willing to not take action as a result of an environmentally,damaging

Disad)antages o' social responsibility

There are many disadvantages of social responsibility of business& which also are e(ually strong. They are as followsB ,

6. Pro'it Ma!imi3ation: ( The first and most forceful argument disfavoring

social responsibility is that business has profit ma imi'ation as its main objective. *nfect& the business is most socially responsible when it attends to its interest and leaves other activities to other institutions. "ince business operates in a world of poverty and hunger& the economic efficiency of a business is a matter of top priority and should be the sole mission of the business. 1usinesss function is economic& not social and economic values should be the only criteria used to measure success. *n this kind of system& managers are the agents of the stockholders& and all their desire to ma imi'e profit for the stockholders while reasonably copying with law and social custom.

7. Society has to Pay the &ost : ( Another arguments are that the costs of social
responsibility will be passed on to the society and it is the society& which must bear them. $an the society afford these additional costs/

8. Social .)erhead &ost: ( $ost on social responsibility is considered to be a

social cost& which will not immediately benefit the business. 0hy spend money on an object& the benefits of which will be reali'ed only in the future/ *t is the heavy social overhead cost& which is one of the reasons for the dismal performance of some of our government undertakings.

9. 0ack o' Accountability: ( Another point of view is that the businessmen

have no direct accountability to the people& therefore& it is unwise to give businessmen responsibility for areas poor social control to allow any other kind of arrangement. 8ntil the society can develop mechanism& which establishes direct lines of social accountability from business to the public& business must stand clear of social activities and pursue only its goal of profit where it is directly accountable through the market system.

:. 0ack o' Social Skills: ( 1usiness managers are best at managing matters
relating to business. They are not e(ually good at solving social problems. There outlook is primarily economic and that there skills are the same. They really do not feel at home in social matters. *f society is going to depend on someone to work with social problems& why choose a group& which is so poorly (ualified/ 2oes society really want economic and technical people meddling in social affairs/ 0ill they broaden their outlooks and will their skill transfer/ $an business really do the job/ *s it better e(uipped than the government and other institutions/

This problem is however sought to overcome to a considerable e tent. 0e have a number of fairly high caliber institutions& like the Havier *nstitute 5f "ocial sciences and *nstitute of )ural !anagement Anand #*)!A%& which train student specifically for social work. $orporate like the Lalbhais& !afatlals and "hroffs have already attempted to bring in management professionals into the social responsibility area.

;. 0ack o' broad support: ( Another point is that business involvement in

social goals lack support from all groups in society. *f business does becomes socially involved& it will create so much friction among dissident parties that business cannot perform social assignment. Although many person desire business to become more socially involved& others oppose the idea. There is lack of agreement among the general public& among intellectuals& in the government and even among business themselves.

=. %riedman and 0e)itt4s ,iews: ( the economist !ilton Friedman has voiced
the most cogent criticism. Friedman based his arguments on two principal contentions& one economic and one legal. From the economic perspective& he asserted that if managers spend corporate funds on project not intended to ma imi'e profits& the efficiency of the market mechanism will be undermined resources will be misallocated with in the economy. 5n the legal side& Friedman contended that because managers are legal agents of the stockholders& their sole duty is to ma imise the financial return to the stockholders. Hence& if they spend corporate funds for social purposes& they are essentially stealing from the stockholders

ndustries contribution in social responsibility o' business

&ompany @groups Hero Honda

Major institution s &ompany4s +rusts@%oundation $stablishing community s program 1ahadur $hand !obile !unjal Arya !odel clinics& "enior "econdary schools& mini school *T* round company units !)F academy football !)F Foundation

%ields Supported 7ducation environment& health& sports

!)F

>ace "ports

1ajaj

*nstitute 5f 4andhian studies& 4andhian $enter for science and Human Ialue& Damnalal 1ajaj *nstitute 5f !anagement

Damnalal Foundation& Damnalal Trust

$ommunity 1ajaj development& higher education "eva up liftment of widowsJorphans.

"inghania

*nstitute of Applied >hysics K Technology& Allahabad. *nstitute 5f cardiology& *nstitute 5f )adiology and $ancer )esearch *nstitute& Lamlapat memorial Hospital& Lanpur& DL *nstitute of "ociology K Human )elations& Lucknow

Lala Lamlapat >rimary "chool 1uilding Trust& Lakshmipat !aintaining "inghania Ambulances& 7ducation blood banks& Foundation& relief vans& Lakshmipat laboratories "inghania !edical Foundation& kailashpat "inghania "ports Foundation

>rimary education& higher education& technical education& social sciences& medicine and health care& religion and values& sports activities& city beautification.

ntel takes &S" management award

A 1ews item 'rom Business "espect* ssue 1umber DD* dated 8 1o) 7EE: *ntel has been awarded the first M$") !anagementM award as part of the annual 1usiness 7thics Awards. *n particular& the company was praised for its leadership in helping to bring companies together to create the 7lectronics *ndustry $ode of $onduct. The other winners of the awards& run by .ew Cork,based 1usiness 7thics !aga'ine& were the "outh !ountain $ompany& which won the 0orkplace 2emocracy category& .ew Leaf >aper& the 7nvironmental 7 cellence Award& and 0eaver "tate $ooperative& which won the Living 7conomy Award. 2ave "tingiest& *ntelMs director of corporate responsibility& saidB 30e could see this issue of supply chain management coming& given what happened with the sweatshop issue in the apparel and shoe industries. 0e couldnMt let what happened to The 4ap and .ike impact us& so we decided to band together with other companies and take a leadership position on the issue.6

&S" Policies
&hild 0abour Policy ( Fohnson G Fohnson
D K D $orporate has formulated a policy& which deals with employment of young persons. The policy follows the recommendation of *L5 convention on the subject. As a responsible corporation committed to $redo values& DKD >olicy applies to the employment of persons under the age of eighteen #young person%. The policy prohibits employment Jengagement of persons under the age of si teen. 7ngagement of persons between the ages si teen and eighteen is only under a specified set of circumstances& which are in compliance with health& safety& and moral provisions of *L5. The DKD >olicy imposes obligation on us to implement the policy provisions in all areas of our operations and in particular 2istributors& $ontract !anufacturing& job wok contracts& 7ngagement of "ervice provides etc.

To effectively e hibit our commitment to follow this policy& we will be re(uired to impose as condition of the terms of appointment of 2istributor that they shall not engage any young person. "uitable clause as given below& is re(uired to be incorporated with immediate effect in all future agreementJletter of appointment of 2istributor. 3As a term and condition of your appointment herein& you will agree not to engage persons under the age of <N years for any operationJservices rendered to the $ompany. The engagement of persons between the ages of <N and <9 shall be subject to the re(uirement of the $hild Labour #prohibition K)egulation% Act& <;9N.6 *n the case of e isting appointments& the above $lause may please be communicated to the 2istributors as an additional term& by means of a suitable letter. >lease let us know if you re(uire any assistance.

Disaster Management Policy ( Fet Airways

$ommensurate with international standards& Det Airways has documented a manual to provide our personnel with the guidance and information necessary to respond effectively to crisis situations like an aircraft accident& hijack& bomb threat etc. >rocedures contained in the 7)! are designed to ensure that all response efforts are focused to convoke the companys prioritiesB

7nsure full support for all search and recovery efforts for victims. >rovide compassionate and full assistance to family members of accident victims and survivors. >rovide full support and co,operation with the ensuing accident investigation and with any other regulatory re(uirements. )eturn the airline to normal operations- protect company employees and passengers by maintaining a commitment to doing the right thing in every situation.

- , @ A DS Policy at Gla!o Smith #line

>olicy on Human *mmunodeficiency Iirus #H*I% K Ac(uired *mmune 2eficiency "yndrome #A*2"% 4la o "mith Lline has a policy of non,discrimination towards individuals who have& or may become infected with the Human *mmunodeficiency Iirus #H*I% and who subse(uently may go on to develop Ac(uired *mmune

2eficiency "yndrome #A*2"%. The company recogni'es that someone with H*I and A*2"& like anyone with a potentially progressive illness& will usually be able to continue making a valuable contribution to the success of the business for many years following diagnosis. The key elements of the policy areB

An approach individual who has H*I and A*2" in the same manner as those with any other progressive or debilitating illness- with all the support that this entails. !aintain confidentiality at all times. 1reach of confidentiality will be treated as a disciplinary matter. 2iscrimination& in any respect& against anyone who is H*I positive or who has A*2" will not be tolerated. The provision of health information for all employees on the Human *mmune deficiency Iirus and its effects. .ot to test for H*I status as a prere(uisite for employment& or continuing employment.

$n)ironment Policies

1"7" Limited *on 7 change #*ndia% 4odrej K 1oyce !fg. $o. Ltd. !onsanto *ndia Limited )allis *ndia Limited )ashtriya $hemicals K Fertili'ers Ltd. TAD 4roups of Hotels Tata $hemicals Limited T$$* , TATA $ouncil for $ommunity *nitiatives Tata 7ngineering Tata *nternational Limited Tata !etaliks Limited

The Tata >ower $ompany Limited Tata ""L Limited Tata "teel Titan *ndustries Limited Ioltas Limited

$n)ironment Policy o' "eliance $nergy

)eliance 7nergy believes in sustainable development and aims at preservation and promotion of environment in all its activities. )eliance 7nergy and its group companies& in the process of generation& transmission and distribution of electricity& as also in coal beneficiation& are committed to achieving e cellence in environmental performance and towards this objective& the $ompany shallB

Adopt appropriate operational practices and suitable technologies to monitor& control and minimise the impact of tits activities on environment. $ontinually improve its environmental performance by setting objectives and targets to prevent or reduce pollution and waste and minimise use of resources. $omply with all relevant legislative and regulatory environmental re(uirements. 2evelop and maintain a highly motivated workforce trained for effective management of environment and emergency situations. >rovide relevant information on environmental policy to the concerned authorities and interested parties and ensure that the policy is understood& implemented and maintained by employees at all levels within the organisation. 7valuate and modify environmental management practices keeping in view regulatory re(uirements& community concerns and technological advancements.

Se!ual -arassment Policies

Faypee -otels: The supreme court of *ndia has laid legal binding on all establishments to protect women employees against se ual harassment at work places. *t is& therefore& notified for information of all employees of Hotel Iasant $ontinental K Hotel "iddharth that the following acts will constitute se ual harassment within hotel premises #i.e. work place%... Fohnson G Fohnson: *t is incumbent on all employees to follow this >olicy and the guidelines formulated herein. The obligation to strictly adhere to the >olicy guidelines is a pre,condition to the $ontract of employment. "e ual Harassment of a woman at the work place will be deemed to be a violationJbreach of terms of employment& and a crime in addition to violation of gender e(uality guaranteed under the constitution. " P G Group: The "upreme $ourt laid down stringent rules in this regard. *n their view& e(uality in employment can be seriously impaired when women are subjected to gender specific harassment such as se ual harassment at workplace. "uch conduct is discriminatory when the women has reasonable grounds to believe that her objection would disadvantage her in connection with her employment& including recruiting or promotion& or when it creates a hostile working environment.

>nited 5ay &S" %orum nter)iews

Ms. /ashashree Gurjar The $") initiative is not just driven by recognition that this is the right thing to do- we believe that it leads to better operational environment as well& with an immediate and sustainable relevance to the business. Therefore& a holistic social responsibility approach is now part of the $ompanyMs 1usiness objective and integral part to its resolve to create a better local and global society. "ati %orbes: 0e have been working in the area of $") much before it became a fashionable term& as it is today. 5ur earliest interventions began with the setting up of our first factory in the late =:s. !r. 2arius Forbes felt it was not enough to just contribute monetarily to the farmers from whom the original plot of land was bought. )ather& we needed to give back to the community where we were going to operate , and impact positively the lives of the people who were residing there. ,ijay Gupta* 5 P".: 0ipro is a limited company in the private sector with a public holding. 5ur work in the social sector is therefore governed and funded by the $ompany. Half the funds for 0ipro $ares& our wing that looks into voluntary work& comes from the employees& while the other half comes from the $ company. A'im >remji Foundation is funded almost entirely by !r. >remji in his personal capacity. Mr. S. Sen* & : $** is a non,government& not,for,profit& industry led and industry managed organisation& playing a proactive role in *ndias development process. Founded over <:9 years ago& it is *ndias premier business association& with a direct membership of over A9:: companies from the private as well as public sectors& including "!7s and !.$s and indirect membership of over =:&::: companies from E=F national and regional sectoral associations.

Ms. Sudha Murthy* n'osys %oundation: !s."udha !urty is an engineer who has taught computer science in colleges& is a published author of several books in Lannada and 7nglish including the recently published OThe day * taught grandmother and other storiesO. Mr. 1eel &hatterjee* Standard &hartered Bank: 7thics are how we lend- whom we lend to and what are the principles we follow. *n that regard we are pretty strict& because the bank is incorporated in 7ngland under the Financial "ervices Authority #F"A%. And the rules and regulations& which we are re(uired to follow as an 7nglish 1ank....

Ms. Madhulika Gupta* &itigroup: $itigroup leads the corporate movement towards sustainable community development by optimising on the core financial& non,financial and networking strength of the bank for the empowerment of the under,privileged.