Menu
Corporate Social Responsibility (CSR) means what an organization does to have a positive impact on existing society. It can take the form of community relations, volunteer assistance programs, health care programs, specialized education, training programs and the preservation of cultural heritage and the decoration of cities. The philosophy is, basically giving back to society, what business has taken from them, in their quest to create wealth. CSR conducts business in a manner that meets or exceeds the ethical, legal, commercial and social implications of a business community.
CSR activities can help build strong bonds between employees and companies, increase morale, and help both employees and employers feel more connected to the world around them. In order for a company to be accountable to the community, it first needs to be accountable to itself and to its shareholders
• Improved financial performance
• Improved product image and reputation
• Increased sales and customer loyalty
• Increasing the ability to attract and retain employees.
• Reduction of direct control
• Easy access to finance
The business sector is gradually recognizing the positive aspects of the corporate commitment process. There is a growing collaborative work between NGOs and companies. All stakeholders are becoming increasingly aware of the various aspects of the company’s commitment processes. Due to various internal and external pressures, the climate allows for the growth of business commitment processes in India. Although many companies, NGOs and unions are aware of corporate liability procedures, the findings of the study suggest that the ideas are not yet part of the core business strategy in many Indian companies. Many companies have existing labor and environmental policy guidelines.
The concept of CSR is very old in India. Mahatma Gandhi’s concept of administration is similar to the CSR of today’s world; companies like TATA and BIRLA have been blaming social media for their long-term performance before the CSR became a popular cause. The interest in network welfare within the Tata Group dates back to the 1860s when the organization was founded by JamshedJi Tata. This explains why almost 66% of the equity of Tata Sons, a group of promoters of Tata Group, owned by philanthropic trusts, established a large group of national institutions of science and technology, medical research, social studies and lectures. Operation Surge by Dr. Amul-led Kurien initiated inclusive development by working with dairy farmers at the grassroots level, transforming lives, raising incomes, empowering women and at the same time reaping the benefits of the business.
• Indian Oil CSR has been a pillar of good success since the beginning of 1964. The Organization’s objectives in this important area of operation are set out in its mission. To help enrich the quality of life of the network and to maintain environmental equity and values with a strong local conscience.
Over the years CSR has gained momentum in India as companies recognize the importance of investing in CSR in order to reap the benefits of creating shareholders, raising revenue base, branding strategies, efficiency, better access to finance, human and intellectual property and lower business opportunity. CSR has emerged as an effective tool that combines corporate and social efforts in the sustainable development and development of social goals as well. Nowadays, CSR is a necessity for companies with adequate profits and income as required by Government regulations.
1. TATA GROUP – The Tata Group conglomerate in India undertakes various CSR projects, the main part of which is network development and poverty alleviation programs. Through self-help groups, it is involved in women’s empowerment, fundraising, national network development, and other social programs. In the field of education, Tata Group offers bursaries and numerous institutional grants. The workshop also involves health care projects, for example, youth education assistance, immunization and the establishment of AIDS awareness.
2. ULTRATECH CEMENT – Ultratech Cement, India’s largest cement organization involved in social work across 407 villages across the country planning to create support and independence. Its CSR activities focus on health care and family welfare programs, education, infrastructure, environment, social welfare, and sustainable livelihoods.
3. MAHINDRA & MAHINDRA – Indian carmaker Mahindra and Mahindra founded K. C. Mahindra Education Trust in 1954, followed by the Mahindra Foundation in 1969 with the aim of improving education. The organization focuses on education programs to help economically and socially disadvantaged communities. CSR programs invest in provinces and awards, livelihood reform, remote health care, water conservation, and disaster relief programs. M&M runs projects.
4. ITC GROUP – ITC Group, a combination of business interests across hotel, FMCG, agriculture, IT, and affiliate sectors focused on creating sustainable livelihoods and environmental protection. The organization has been able to create sustainable livelihood opportunities for six million people through its CSR activities. Their e-Choupal program, which plans to connect international farmers online to access agricultural products, covers 40,000 villages and more than four million farmers.
4. PROCTER AND GAMBLE INDIA LIMITED – P&G has launched a program of community development and education in India called “Shiksha” which aims to improve the education of children in rural areas at affordable cost. P&G began donating a fixed amount from the sale of its products to international children’s education funds.
5. DABUR INDIA – Dabur CSR policy is inspired by the words of its founder Dr. S. K. Burman who said “How much that life can pass on comfort to others”. While looking for our business strategy to deliver products that provide our customers with health and well-being, Dabur works in a way that not only continues to generate attractive profits for shareholders, but also reduces our impact on the environment.
US markets for labor and money are less regulated as there are lower levels of social provision. Many social issues, such as education, health care or public investment have traditionally been the core of CSR in the American context. CSR measures and communication activities between humanitarian, administrative, volunteer work and environmental issues are not considered legal compliance in the USA. CSR in the USA is characterized by voluntary public participation by businesses as they are not obliged to undertake social and environmental commitment processes. Such commendable behavior is also called a corporate citizen. Public responsibility and business citizenship include responsible conduct that transcends financial reporting requirements. These behaviors are particularly evident in cause-related advertising, management programs, charitable donations and charitable donations.
CORPORATE CITIZENSHIP – Being a citizen provides a way of thinking and behaving responsibly. It has the potential to unlock vital benefits for both business and society. Sound environmental practices can be linked to improvements in economic performance and productivity, efficiency, high quality, innovation and competitiveness. Therefore, being a business citizen can be strategic in your goals and objectives. The combination of these different perspectives has led to the definition of corporate citizenship. The rational reasons for better understanding the nature of business citizenship can be found in the literature on corporate social responsibility, corporate social responsibility, corporate social performance and communication with stakeholders.
GOOD CORPORATE CITIZENSHIP AND HUMAN RIGHTS – In 1998, the Bureau of Democracy, Human Rights and Labor (DRL) established the Human Rights and Democracy Fund (HRDF) to fulfill its mission of monitoring and promoting human rights and democracy around the world. . The HRDF Fund was designed to serve as a departmental fund for the “financial function” of democracy and human rights issues, including; the promotion of democratic principles and personal freedom. Such programs allowed the U.S., “to reduce human rights abuses, to support international democratic activists, to open the political arena of the struggling new-born democracies and dictatorships, and to bring about positive change in other countries”.
LABOR AND SUPPLY CHAINS – The United States committed illegal human trafficking in 2000, after which it began publishing an annual survey of international efforts to deal with it. But it has gradually increased the temperature of criminals within its borders. Australia and the UK have recently passed light-touch laws that require transparency in supply chains. The law required that producers and merchants earning more than $ 100m worldwide earn a list of their efforts to eliminate modern slavery and human trafficking in their supply chains. In the meantime, the company can comply by simply reporting that it does nothing. But it seems that few companies are willing to accept such a statement that will definitely affect their CSR credentials.
ANTI-CORRUPTION – Corruption undermines public financial management and accountability at all levels of institutions: It hinders foreign investment in many countries, hinders economic growth and sustainable development, distorts prices, and undermines legal and judicial systems. At the highest level, serious corruption by government officials is also called kleptocracy. It can have a detrimental effect on democracy, the rule of law and economic development. Those who contribute to such corruption by paying or promising to pay a bribe or by giving unfair advantages of foreign government officials will undermine good governance and undermine fair competition.
HEALTH & SOCIAL WELFARE – In the United States, public education has never been regarded as a social work, perhaps because it is easily taken for granted, since its inception 125 years ago. On the other hand, public health and job rehabilitation are not included within the Public Safety Act, but are in separate Federal laws. However, health care and financial benefits have been provided under the workers’ compensation laws. These laws include occupational injuries and members of the armed forces and their dependents, as well as veterans who have the right to receive medical care at the expense of the community.
CONCLUSION
Business ties to society are more than just business or fashion. Businesses that want to stay abreast of new generations and want to help people in need around the world while increasing their revenue and efficiency will benefit from receiving CSR.
