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This is because, in many developing countries, the legal infrastructure is poorly developed, and often lacks independence, resources, and administrative efficiency. Ethical Responsibilities: In developing countries, however, ethics seems to have the least influence on the CSR agenda.
With the retreat of the state in economic activity in India, the imperative for business to take up wider social responsibilities is growing.
The situation is complex and India is facing a compounded set of corporate responsibility challenges. At all levels, there is a felt need for companies to graduate to strategic interventions in CSR, which at present in many cases remain ad hoc. There are many companies that may spend for long-term development. A sense of strategic direction is a vital component in an effective approach to corporate responsibility.
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Yet, for all these signs of progress, CSR in India has yet to realize its full potential. Individual and collaborative initiatives continue to be dominated by self-assertion rather than accountability. Many Indian business houses, private sector and public sector companies have undertaken major initiatives till date and have adopted several modes of practice related to CSR in India.
Alongside these are the leading Indian companies with strong international shareholdings, such as Hero Honda, HLL, ITC, and Maruti Udyog, where local dynamics fuse with the business standards of the parent or partner. The next comes in the list are Tata Motors and Hero Honda. BHEL is actively involved in the welfare of the surrounding communities is helping the organization to earn goodwill of the local people.
BHEL is also providing drinking water facilities, construction of roads, provision of health and educational facilities. Similarly in the private sectors like Infosys, Wipro and Reliance are believed to be most socially responsible corporations. In developing countries like India, CSR stands to be of vital importance for a mutual and symbiotic growth.
Coca- Cola in India and Unilever in Pakistan are two examples. The following issues and companies are reviewed for their CSR practices.
Tata Group - has more than 2, 45, employees. Tata were the pioneers in employee benefits that were later mandated through legislation in India and elsewhere in the world. The eight-hour working day, free medical aid, welfare departments, grievance cells, leave with pay, provident fund, accident compensation, training institutes, maternity benefits, bonus and gratuity were introduced by the group before any legal rules were framed on them.
Tata has created cities and towns — Jamshedpur, Mithapur, Babrala and Mathigiri — around industrial facilities. Their time is ranged from their involvement in Ashadaan to the disaster affected Yashodadham village near Bhuj. Infosys - employees are encouraged to report workplace hazards and incidents to the concerned officials and contribute to implementing solutions.
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Infosys implemented health clubs and health programmes, such as health week, nutrition programmes and ergonomics training. This Trust acts as a catalyst to development at the grass root level in 32 villages around its plants in Pune and Aurangabad. These projects have a positive impact on the quality of rural living standards. Dabur has a vision of being a company dedicated to the health and well being of every household, drawing inspiration from its founder Dr.
Infosys Foundation, the philanthropic arm of Infosys Technologies Ltd, came into existence on 4 December Its main objective was to fulfill the social responsibility of the company by supporting and encouraging the underprivileged sections of society. The Foundation has been working on initiatives such as: training destitute woman in tailoring and donation of sewing machines and material to them to improve their livelihood; counseling centers to rehabilitate marginalized devadasis in North Karnataka; relief work conducted after natural disasters; donation of aid equipment to the physically challenged in rural areas of Karnataka; and construction of orphanages in rural areas.
Godrej has been a key player in aiding education, environment and the health verticals besides looking after its own employees.
The Soonabai Pirojsha Godrej Foundation has been maintaining the western bank of the Thane Creek, the single largest mangrove belt in Mumbai. The Sohrabji Godrej Green Business Centre launched the Green Business Initiative in December , which was aimed at facilitating the development of corporate greenhouse gas inventories and subsequent investments in greenhouse gas mitigation projects.
ITC- focuses on the use of renewable energy such as biomass and solar energy. A number of units have installed solar thermal systems mainly for use in canteens and kitchens. It claims it endeavors to be a carbon positive corporation. Its efforts in the field of energy conservation, use of carbon neutral fuels and large scale tree plantations through social and farm forestry have resulted in sequestering Indian Oil Corporation: has included CSR in its vision and mission statement and has built its corporate strategies around it.
BP: The Company engages itself in dialogue with a wide variety of groups to create strong and lasting relationships with them. Employees maintain a dialogue with key groups, such as national NGOs, in different ways and make recommendations for the company on the social and environmental impacts.
Hero Honda Motors takes considerable pride in its stakeholder relationships, especially ones developed at the grassroots.Snapshot About the book. It designed provide analytical and critical account theories and issues. CSR is the deliberate inclusion of public interest into corporate decision-making, and the honoring of a triple bottom line: people, planet, profit. This book is meant mostly for the undergraduate students of Management, Commerce, Economics, Law etc. International economics 5th edition.
Third Edition. Add to Wants. A number of units have installed solar thermal systems mainly for use in canteens and kitchens.