CHAPTER-I

1. INTRODUCTION

“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.”

According to me CORPORATE SOCIAL RESPONSIBILITY (CSR) is

required in the firms to sustain in the long run of the business as business is just
only a part of the society and it has to work with the society only. Corporate
Social Responsibility is closely linked with the principles of sustainable
development. It focuses on the idea that a business has social obligations above
and beyond making profit.

1. Social responsibility becomes an integral part of the wealth creation process -

which if managed properly should enhance the competitiveness of business
and maximise the value of wealth creation to society.
2. When times get hard, there is the incentive to practice CSR more and better - if
it is a philanthropic exercise which is peripheral to the main business, it will
always be the first thing to go when push comes to shove.

“Business is all green only philosophy is grey”

-----Karl Max

Corporate Social Responsibility (CSR) is a concept that organisations have

an obligation to consider the interests of customers, employees, shareholders,
communities and ecological considerations in all aspects of their operations. This
obligation is seen to extend beyond their statutory obligation to comply with
legislation. Enterprises should make decisions based not only on financial factors

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such as profits or dividends but also based on the immediate and long-term
social and environmental consequences of their activities. It is an integrated
combination of policies, programs, education and practices which extend
throughout a corporation‟s operations and into the communities in which they
operate, about how companies voluntarily manage the business processes to
produce an overall positive impact on the society.

1.1. Objectives
The objectives of this project are-
1. To study the need for corporate social responsibility ,CSR
mechanism and key developments which has been brought about by
Corporate Social Responsibility.
2. To exhaustively study the contributions made by the Indian
Companies towards the society as a part of Corporate Social
Responsibility activities.

1.2. Limitations

The hindrances faced by me while doing the project-

1. Due to shortage of time primary data could not be collected.
2. Transparency and monitoring of stringent rules of Corporate Social
Responsibility will prevent companies from polluting the society in the
upcoming years.
3. Business sometimes prevent the auditor of the company to detect a fraud,
which actually creates a bad image in the name of accountants.
4. Proper data regarding how much companies are polluting and as to what
percentage of their profit they are spending for the society is not revealed.

1.3. Background

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 Before commencing the analysis of the CSR policies in India today, an
introduction to theconcept of CSR is useful. Furthermore, this section will
provide an understanding of theeconomic and social conditions of India, which
are important aspects of its contemporaryinstitutional framework. In order to
understand the future of corporate social responsibility in India we will take up
few cases to get an overall overview of the economy.Several terms have been
used interchangeably with CSR. They include -- business ethics, corporate
citizenship, corporate accountability, sustainability and corporate responsibility

1.4. India as a host location for CSR policies

India is an ideal location in which to study CSR policies of international

companies. It is a country with substantial international presence and
investments, which implies that there will be many companies who can, and are
willing to, engage in CSR activities. Furthermore, India still face challenges of
for example poverty alleviation and development, which implies that there are
possibilities for CSR initiatives to contribute to positive effects for, and
development of, the host community. A brief overview of the economic and
social background of India will provide a more detailed introduction to the
country context.

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 CHAPTER-II
2.1 LITERATURE REVIEW:
This era of increased knowledge & information moves us towards the rapid
changes it is growing more and more with the passage of time. Therefore, a
researcher has to be more conscious about the changes & developments in the
area of his study. In this context, the researcher has to go through the available
literature like books, novels, reports, previous researches, articles, newspapers
and journals for improving the knowledge & understanding. Over the past
decades, the concept of corporate social responsibility has become a major area
of research. So, the responsibility of the researcher has to make an effort by
reviewing the papers of previous researchers, analysts and industrialists who are
related with the social responsibility, social accounting, social reporting or any
other area related to the corporate social responsibility.
In the future of industrial man, Drucker in 1946 has told survival of any
enterprise is outcome of the harmony between the company‟s objectives,
objectives of the state system and the people. Any conflict between the objectives
of these three interactive players would stick the business firm in the middle of
the road. Therefore, corporations are responsible for worker‟s human dignity and
status, and worker‟s training and development as corporation‟s resource and not
cost.
Archie Carroll, 1979 defined the social responsibility is set of economic,
legal, ethical and discretionary expectations of society towards the business
organizations operating within its premises.
By seeing the history & past trend of CSR, Caroll‟s model analysis in
global context, indicate the three emerging alternatives of corporate social
responsibility: conception of responsibility, global corporate citizenship,
stakeholder management practices.

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 Bradshaw, 1981 defined the overriding role of corporate management is to
meet people‟s needs with professional skills, continue to respond to the market
place, produce quality goods at the lowest possible cost by efficient and
sustainable use of resources.
Kok et al, 2001 has told the business is ethically and morally obliged to
benefit its society. To achieve this, the business besides capitalizing on its
economic goals, it shall commit its resources for the well being of the society and
its people.
Mr. Fredrick Ma, secretary of financial services 2004, in his speech he
explored the concept of CSR on the basis of survey of 1500 business leader
attending the world economic forum in bevos. In which 5% leaders said that CSR
is important for the success of business, while 24% said CSR is not important but
the shareholder‟s interest is most important for the businesses, but for him, CSR
and corporate governance are complementary to each other.
Moon (2004), paper examined the role of government in driving corporate
social responsibility among the corporate. The study explained that the drivers of
CSR are related with business and society, his study cleared that government is
driver of CSR by making true & clear relationship, properly formulating policies
and regulations. The study also highlighted the other country‟s situation & how
their government entered into businesses for driving CSR.
David Vogel, 2005 examined corporate social responsibility is a very
important dimension of corporate strategy and not a precondition for business
success. The businesses must find a viable course of action between what is
socially and ethically rights and what are economically profitable”.
Samuel O. Idowu (2007), with their study of twenty companies in U.K.,
propounded that the U.K. companies have now become ethical in context of
social responsibility. Here companies disclose it‟s CSR with a view of public
benefits, government request and issue information to every stakeholder by
considering people in twenty first century are better educated than past.

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 Vaaland, Heide (2008), paper based on a case study is the best example to
handle the CSR critical incidents and utilize its experience in enforcing the CSR
policies. The study concluded that CSR should be managed by handling
unexpected incidents, by reducing the gap between stakeholders and their
expectations and company performance and finally maintaining relationship with
society through interplay between actor, resources and activities.
In his research work Mikael Holmqvist in 2009 he argued that over the last
few decades corporations are paying special attention towards their social
responsibility of workers health and their well beings. The strategy has two fold
advantages including; ensuring better health and wellbeing for employees at work
place and, sustaining responsible organizations in the socio- competitive
environment. He viewed corporate social responsibility as corporate social
control.
Shah, Bhaskar (2010), in his case study of public sector undertaking,
Bharat Petroleum Corporation Ltd. has discussed that there is a broad relationship
between the organization and society. Organization has its existence only with
the society. Organization used the resources of the society. In reverse, the
organization provides services to the society. This case study of BPCL, has
explored that the company has taken a lot of initiatives in order to serve the
society.
Hartman (2011), article “Corporate social Responsibility in the food
sector” in European review of Agriculture Economics journal, analyzed the
importance of CSR in food sector, particularly those companies which have high
brand image CSR is an important part of these companies but SME‟s are less
capable in discharging their obligation towards society.
The economic Times (2012), news highlighted the views of former
president Dr. APJ Abdul Kalam in a CSR award function organized by industry
body Assocham. Kalam said that companies should devote some part of its goal
to corporate services. It should make mandatory for all the companies to spend a

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percentage of its profit on corporate social responsibility. Kalam also discussed
about the proposed bill on corporate spending on CSR. They assumed greater
importance of CSR in building the lives of the country‟s citizens.
Bibhu Parshed (2012), article presented that CSR is the face of industry
face of doing trade. Bibhu said that today, corporate houses took CSR as a
medium for fulfillment of profit greed, further the article explored that today
companies are investing in different areas like child labor, ground water, food,
education, employment etc. but nobody is aware about the essential need of
world‟s poor. The article suggested that profit earning is a natural fact of
companies but CSR is beyond the natural and statutory obligation of the
companies.

2.2 CONCEPTUAL FRAMEWORK

Innovation and sustainable development are major contemporary issues.

Innovation represents an important tool for achieving corporate social
responsibility while sustainable development is a challenge for business and
emphasises the direction that innovation activities can take. The objective of this
contribution is to specify innovation and social responsibility outlines and to
propose a conceptual framework of their complementarity in a small and medium
enterprise perspective. This approach enables us to reflect on the role of
innovation in responsible entrepreneurship by illustrating a scheme which brings
together these concepts in an integrated approach.

In the contemporary debate on the modern corporation and its impact on

the economy, society and nation, the focus has shifted from growth with only
profitability to growth with sustainable development, which includes the
stakeholders. While there is considerable debate on the corporations' obligations
to civil society in the Western world, in the developing countries the debate is
sporadic; the present publication is an effort to initiate a nationwide discourse on

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the concepts and practices of corporate social action in India. The book is divided
in two sections; section one contains papers, which analyze the conceptual
framework of Corporate Social Responsibility. The unique feature of this book is
the case studies on different aspects of CSR presented in section Two. The cases
focus on such segments as education, healthcare and environment, among others.
It is for the first time that under the aegis of UNDP-CII-AICTE-MDI the business
schools in the country participated in preparing cases from various industries
focusing on the process and decision making content implicit in the introduction,
implementation, and evaluation of various facets of Corporate Social
Responsibility. The cases are illustrative and they will help in identifying further
areas of research. The teaching notes have been developed by the individual
authors, and will be available on request.
In recent years the concept of corporate social responsibility (CSR) has
gained unprecedented momentum in Europe. Even the skeptical Martin Wolff,
Chief Economics Correspondent of the Financial Times commented that “CSR is
an idea whose time has come” (Wolff, 2002: 62). CSR is a cluster concept which
overlaps with such concepts as business ethics, corporate philanthropy, corporate
citizenship, sustainability and environmental responsibility. It is a dynamic and
contestable concept that is embedded in each social, political, economic and
institutional context.
Corporate social responsibility (CSR) and its action-oriented offspring
Corporate Citizenship (CC) currently trigger an intensifying debate on ethics, role
and behavior of companies within civil society. For companies, CSR raises the
question of what may be the “good reason(s)” for acting responsible towards its
members, customers or society. In order to answer this question, we face the
debate on CSR and its strategic engagement drivers on the levels of corporate
culture, social innovation, and civil society. In this article, we provide a
conceptual framework based on the analytic distinction of legitimation and sense-
making. It provides measures and instruments to make complex CSR processes

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 more visible and manageable. To win loyalty in today's markets, companies have
to focus on building and maintaining customer loyalty. CSR has become a useful
tool, however, the relationship between CSR and customer loyalty is largely
unexplored.

2.2.1 Need for Corporate Social Responsibility-

CSR is pursued by business to balance their economic, environmental and
social objectivities while at the same time addressing stakeholder expectations
and enhancing shareholder value. Over the past decade, CSR has risen in global
prominent and importance. More companies than ever before are engaged in
serious efforts to define an integrate CSR into all aspects of their business, with
their experiences being strengthened by a growing body of evidence that csr has a
positive impact on business economic performance.

CORPORATE SOCIAL REPONSIBILTY

_________________________________________________________

Economic Responsibilities Discretionary

Responsibilities

Legal Responsibilities Ethical Responsibilities

New voluntary CSR standards and performance measurement tools continue to

grow amidst the ongoing debate about whether and how to formalize legal CSR
requirements for companies. Stakeholders including shareholders, analysts,
regulators, activists, labour unions, employees, community organizations and the

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news media are asking companies to be accountable not only for their own
performance but for the performance of their entire supply chain. This is taking
place against the backdrop of a complex global economy with continuing
economic, social and environmental imbalance. Corporate Governance scandals
such as those at WorldCom, Enron, Daewoo, etc. profoundly affected major
capital markets worldwide and placed issues such as ethics, accountability and
transparency firmly on the business, regulation and policy agenda. Additionally
issues such as peace, sustainable development, security, poverty alleviation,
environmental quality and human rights are having a profound effect and the
business environment. While CSR does not have a universal definition, many see
it as a way f integrating the economic, social and environmental necessity of
business activities.

2.3. CSR POLICIES

Corporate Social Responsibility (CSR) refers to operating a business in a

manner that accounts for the social and environmental impact created by the
business. CSR means a commitment to developing policies that integrate
responsible practices into daily business operations and to reporting on progress
made towards implementing these practices.

Common CSR policies include:

Adoption of internal controls reform in the wake of Enron and other

accounting scandals;
Commitment teams that view employees and barring discrimination;
Management teams that view employees as assets rather than costs;
High performance workplaces that integrate the views of line employees
into decision-making processes;
Adoption of operating policies that exceeds compliance with social and
environmental laws;

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 Advanced resource productivity, focused on the use of natural resources in
a more productive, efficient and profitable fashion(such as recycled content
and product recycling); and
Taking responsibility for conditions under which goods are produced
directly or by contract employees domestically or abroad.

2.4. Key Developments-

Several factors have converged over the last decade to shape the direction
of the SCSR domain;

Increased Stakeholder Activism: Corporate accounting scandals have

focused attention more than ever on companies‟ commitment to ethical and
socially responsible behavior. The public and various stakeholders are
increasingly seeking assistance of the private sector to help with myriad
complex and pressing social and economic issues. Companies are focusing
on meaningfully engaging with their various stakeholders.

Proliferation of Codes, Standards, Indicators and Guidelines: The recent

accounting scandals, such as , Enron, Worldcom, Parmalat, AIR, LLP and
Author Andersen have created another surge of reforms and voluntary CSR
standards and performance measurement tools continue to proliferate.

Accountability Throughout the Value Chain: Over the past several years,
the CSR agenda has been characterized by the expansion of boundaries of
corporate accountability. Stakeholders increasingly hold companies
accountable for the practices of their business partners throughout the entire
value chain with special focus on suppliers, environment, labour and human
rights practices.

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 Transparency and Reporting: Companies are facing increased demands
for transparency and growing expectations that they measure, report and
continuously improve their social, environmental and economic
performance. Companies are expected to provide access to information on
the impact of their operations, to engage stakeholders in meaningful
dialogue about issues of concern that are relevant to either party and to be
responsive to particular concerns not covered in standard reporting and
communication practice. Increasingly, demands for greater transparency also
encompass public policy. As part of this move towards greater disclosure ,
many companies are displaying detailed information about their social and
environmental performance on their publicly accessible websites, even when
it may be negative.

Convergence of CSR and Governance Agenda: In the past several years

there has been a growing convergence of corporate governance and CSR
agenda. Most recently an increasing number of corporate governance
advocates have begun to view companies‟ management of a broad range of
CSR issues as a fiduciary responsibility alongside traditional risk
management. In addition more and more CSR activities have begun to stress
the importance of board and management accountability, governance and
decision-making structures as imperative to the effective institutionalization
of CSR.

Growing Investor Pressure and Market: Based incentives: CSR is now

more and more part of the mainstream investment scene. The last few years
have seen the launch of several high-profile socially and/or environmentally
screened market instruments. This activity is a testament to the fact that
mainstream investors increasingly view CSR as a strategic business issue.
Many socially responsible investors are using the shareholder resolution

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 process to pressure companies to change policies and increase disclosure on
a wide range of CSR issues, including environmental responsibility,
workplace policies, community involvement, human rights practices, ethical
decision-making and corporate governance.

Advances in Information Technology: The rapid growth of information

technology has also served to sharpen the focus on the link between business
and corporate social responsibility. Just as email, mobile phones and the
internet speed the pace of change and facilitate the growth of business, they
also speed the flow of information about a company‟s CSR record.

Pressure to Quantify CSR “Return on Investment”: Ten years after

companies began to think about CSR in its current form, companies, their
employees and customers, NGOs and society. This is leading to questions
about how meaningful present CSR practice is and the answers to those
questions would determine both the breadth and depth of CSR practice for
the next decade. Companies want to determine what their CSR initiatives
have accomplished so that they can focus on scarce resources more
effectively.

2.5. CSR MECHANISM-

Some companies have established committees that are specifically

responsible for identifying and addressing social or environmental issues or have
broadened the scope of more traditional standing committees to include
responsibility for CSR while others have strategically appointed directors on the
board based on the unique expertise and experience they bring on specific issues
who then serve as advisors to others on the Board. Moreover companies are
finding that a board that is diverse in terms of gender, ethnicity and professional
experience is better equipped to grapple with emerging and complex challenges.

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Companies implement CSR by putting in place internal management systems that
generally promote:

Adherence to labour standards by them as well their business

partners;
Respect for human rights;
Protection of the local and global environment;
Reducing the negative impacts of operating in conflict zones;
Avoiding bribery and corruption and;
Consumer protection.

Each company differs in how it implements CSR. The distinction depends on

such factors as the company‟s size, sector, culture and the commitment of its
leadership. Some companies focus on a single area-the environment, for example
or community economic development while others aim to integrate a CSR vision
into all aspects of their operations. Below are some key strategies companies can
use when implementing CSR policies and practice-

Mission, Vision and Values Statements: If CSR is to be regarded

as an integral part of business decision-making, it merits a
prominent place in a company‟s core mission, vision and values
documents. They also provide insight into a company‟s values,
culture and strategies for achieving its aims. The mission or vision
of a socially responsible business frequently refers to a purpose
beyond “Making a profit” or “Being the best” and specifies that it
will engage in ethical and responsible business practices, and seek
to make decisions that balance that needs of key stakeholders,
including shareholders/owners, employees, customers, suppliers
communities and the natural environment.

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 Cultural values: Many companies now understand that Corporate
Social Responsibility cannot flourish in an environment where
innovation and independent thinking are not welcome. There must
also be a commitment to close the gap between what the company
says it stands for, and the reality of its actual performance. Goals
and aspirations should be ambitious, but care should be exercised so
that the company says what it means and means what it says.
Management Structures: The goal of a CSR management system
is to integrate corporate responsibility concerns into a company‟s
values, culture, operations and business decisions at all levels of the
organization. Many companies have taken steps to create such a
system by assigning responsibility to a committee of the board, and
executive level committee or a single executive or group of
executives who can identify key CSR issues and evaluate and
develop a structure for long term integration for social values
throughout the organization. It is vital to design a structure that
aligns the company‟s mission, size, sector, culture, business
structure, geographic locations, risk areas and level of CSR
commitment.
Strategic Planning: A number of companies are beginning to
incorporate CSR into their long-term planning processes, identifying
specific goals and measures of progress or requiring CSR impact
statements for any major company proposals.
General Accountability: In some companies, in addition to the
efforts to establish corporate and divisional social responsibility
goals, there are attempts to address these issues in the job
description and performance objectives of employees. This helps
everyone understand how each person can contribute to the
company‟s overall efforts to be socially responsible.

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 Employee’s Recognition and Rewards: Most companies
understand that employees tend to engage in behavior that is
recognized and rewarded and avoid behaviour that is penalized. The
system of recruiting, hiring, promoting, compensating and publicly
honouring employees can be designed to promote Corporate Social
Responsibility.
Communications, Education and Training: Many companies now
recognize that employees cannot be held accountable for
irresponsible behaviour if they are not aware of its importance and
provided with the information and tools they need to act
appropriately in carrying out their job requirements. These
companies are emphasising the importance of Corporate Social
Responsibility internally, have a code of conduct, provide managers
and employees with adequate decision-making processes that help
them achieve responsible outcomes.
CSR Reporting: many companies have come to understand the
value of assessing their social and environmental performance on a
regular basis. Annual CSR reports can build trust among
stakeholders and encourage internal efforts to comply with a
company‟s CSR goals. The best reports demonstrate CEO and
senior leadership support ; provide verified performance data for
social, environmental and economic performance indicators; share
“good” and “bad” news; set goals for improvement; include
stakeholder feedback; and many times are verified by outside
auditors.

2.6 EXTERNAL STANDARDS AND OTHER DEVELOPMENTS-

The increased interest in CSR has been accompanied by substantial growth

in the number of external standards for business by governmental, non-

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governmental, advocacy and other types of organisations. These various
standards are designed to support, measure, assists in implementation and
enhance accountability for corporate performance on CSR issues. While many of
the standards produced are based on a single issue, others like Social
Accountability 8000 address a range of CSR issues.

Various performance and reporting standards have been introduced. Some

are explained below-

The Global Reporting Initiative: It is a reporting standard established in

1997 with the mission of designing globally applicable guidelines for
preparing enterprise-level sustainability reports including both social and
environmental indicators. The GRI is convened by CERES(Coalition for
Environmentally Responsible Economies) incorporates the active participation
of corporations, non-governmental organizations, international organizations
United Nations agencies, consultants, accountancy organizations, business
associations, universities and other stakeholders from around the world. The
GRI first released its Sustainability Reporting Guidelines in 1999 and is now a
permanent, independent, international body with a multi-stakeholder
governance structure. An international network of thousands from business,
civil society, labor and professional institutions create the content of the
Reporting Framework in a consensus-seeking process.
AA1000: Launched in 1999, AA1000 based on John Elkington‟s triple bottom
line (3BL) reporting is an accountability and performance by learning through
stakeholder engagement. The AA1000 Stakeholder Engagement Standard
(AA1000SES) is a generally applicable, open-source framework for
improving the quality of the design, implementation, assessment,
communication and assurance of stakeholder engagement. The AA1000
Assurance Standard was launched in 2003 as the world‟s first sustainability

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 assurance standard and applies to the principles of Materiality, Completeness
and Responsiveness.
Social Accountability 8000: Globalisation of business, whilst providing
significant benefits to organisations, has brought new challenges and risks. As
supply chains become more complex, it is increasingly difficult to ensure
transparent management practices in practices in every market. Recently many
high profile multi-nationals like Nike have been implicated in scandals
involving the use of child labour, discriminatory work practices of enforced
labour within their supply chains. Consumer pressure, NGO scrutiny and the
media amongst others are all placing business under the microscope. SA 8000
is a comprehensive, global, verifiable performance standard for auditing and
certifying compliance with corporate responsibility. SA8000 is an
international standard for improving working conditions. This standard is
based on the principles of the international human rights norms as described in
International Labour Organisation conversations, the United Nations
Convention on the Rights of the Child and the Universal Declaration of
Human Rights. The requirements of this standard apply regardless of
geographic location, industry sector or company size.
United Nations Global Compact: The Global Compact is a voluntary
international corporate citizenship network initiated to support the
participation of both the private sector and other social actors to advance
responsible corporate citizenship and universal social and environmental
principles to meet the challenges of globalization. The UN Global Compact
was formally launched in September 2000. UN Secretary-General Kofi Annan
called on world business leaders to voluntarily “embrace and enact” a set of
nine principles in their individual corporate practices.
Organisation for Economic Cooperation and Development (OECD)
Guidelines for Multinational Enterprises: The guidelines were first
published in 1976 and updated most recently in June 2004. The guidelines are

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 recommendations addressed by governments to multinational enterprises and
are voluntary principles and standards, not legally enforceable. Governments
adhering to the Guidelines encourage the companies operating within the
countries to observe the guidelines wherever they operate.
Benchmarks for Measuring Business Performance: The Interfaith Centre
on Corporate Responsibility (ICCR) has published “Principles for Global
Corporate Responsibility” which is not a standard but a “collective distillation
of the issues of concern” for institutional investors developed by groups in the
U.S., Canada and the U.K. The ICCR is comprised of more than 275 religious
institutions that use their investments to promote social change. The principles
cover the entire spectrum of CSR issues, including workplace, community, the
environment, human rights, ethics, suppliers and consumers. The principles
are published as a reference tool that companies (and investors) can use to
benchmark or monitor their own policies or those of the companies in which
they invest.
The Caux Round Table (CRT): It promotes principled business leadership
and the belief that business has a crucial role in identifying and promoting
sustainable and equitable solutions to key global issues affecting the physical,
social and economic environments. The CRT has produced “Principles for
Business”, a document which seeks to express a worldwide standard for
ethical and responsible corporate behaviour for dialogue and express a
worldwide standard for ethical and responsible corporate behaviour for
dialogue and action by business and leaders worldwide. The principles include
the social impact of company operations on the local community, a respect for
rules and ethics, support for multilateral trade agreements that promote the
“judicious liberation of trade”, respect for the environment and “avoidance of
illicit operation”, including bribery, money laundering and other corrupt
practices.

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 The Global Sullivan Principles: Introduced in 1999, the Global Sullivan
Principles expand upon the original Sullivan Principles, which were
developed by the late Reverend Leon H. Sullivan in 1977 as a voluntary code
of conduct for companies doing business in apartheid South Africa. According
to Rev. Sullivan, “The objectives of the Global Sullivan Principles are to
support economic, social and political justice by companies where they do
business; to support human rights and to encourage equal opportunity at all
levels of employment including racial and gender diversity on decision-
making committees and boards; to train and advance disadvantaged workers
for technical, supervisory and management opportunities; thereby helping to
improve the quality of life for communities, workers and children with dignity
and equality.”
Asian-Pacific Economic Cooperation (APEC) Business Code of Conduct:
APEC is known as the primary international organization for promoting open
trade and economic cooperation among 21 member countries. The Code,
issued as draft in 1999, is a standard that draws significantly on a variety of
other internationally recognized codes and standards. The drafting of the Code
was initiated by business leaders from companies operating in APEC
countries and is designed to supplement and support companies‟ existing
codes of conduct. In addition to providing recommendations for specific “
company action” on a range of issues, the Code addresses policy
recommendations to APEC country governments.

2.7 BENEFITS OF CORPORATE SOCIAL RESPONSIBILITY-

Corporate Social Responsibility is the commitment of businesses to behave

ethically and to contribute to sustainable economic development by working with
all relevant stakeholders to improve their lives in ways that are good for business,
the sustainable development agenda and society at large. Social responsibility

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becomes an integral part of the wealth creation process-which if managed
properly should enhance the competitiveness of business and maximise the value
of wealth creation in the society. There is a growing body of data, quantitative
and qualitative, that demonstrates many benefits of socially responsible corporate
performance.

The Iron Law of Responsibility: The institution of business exists only

because it performs invaluable services for society. Society gives business
its license to exist and this can be amended or revoked at any time if it
fails to live up to society‟s expectations. Therefore, if a business intends to
retain its existing social role and power, it must respond to society‟s needs
constructively. This is known as the Iron Law of Responsibility. In the
long-run those who do not use power in a manner that society considers
responsible, will tend to lose it.
Achievement of Long Term Objectives: Businesses have been delegated
economic power and have access to productive resources of a community.
They are obliged to use those resources for the common good of society
which delegated these to them to generate more wealth for its betterment.
Technical and creative resources of a business if applied to social
problems can help in resolving them. A business organization, sensitive to
community needs would, in its own self-interest, like to have a better
community in which to conduct its business. To achieve that, it would
implement special programmes for social welfare. The resulting benefits
would be:
 Decrease in crime.
 Easier labour recruitment.
 Reduced employee turnover and absenteeism.
 Easier access to international capital, better conditions for
loans on international money markets.

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  Dependable and preferred as supplier, exporter/importer,
retailer of responsibly manufactured components and
products.

A better society would produce a better environment in which the business

may gain long-term profit maximization.

Enhanced Brand Image and Reputation: Customers are drawn to

brands and companies with good reputations. A company considered
socially responsible can benefit both from its enhanced reputation
with the public as well as its reputation within the business
community, increasing a company‟s ability to attract capital and
trading partners. Proactive CSR practices would lead to a favourable
public image resulting in various positive outcomes like consumer
and retailer loyalty, easier acceptance of new products and services,
niche market access and preferential allocation of investment funds.
Checks Government Regulation/Controls: Regulation and control
are costly to business, both in terms of energy and money and
restrict its flexibility of decision-making as failure of businessmen to
assume social responsibilities invites government to intervene and
regulate or control their activities. Businessmen have learnt that once
a government control is established, it is seldom removed even
though the warranting conditions change. If these are the facts, then
the prudent course for business is to understand the limit of its power
and to use that power responsibly, giving government no opportunity
to intervene. By their own socially responsible behaviour, they can
prevent government intervention.
Helps Minimize Ecological Damage: The effluents of many
businesses damage the surrounding environment. By their own
socially responsible behaviour, they can prevent government

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 intervention if they are proactive in recognizing their ecological
responsibility towards society. Companies recognize that a strategy
for corporate responsibility can play a valuable role not only in
meeting the challenges of globalization by mitigating risks
domestically and internationally, but also in providing benefits
beyond risk management.
Improved Financial Performance: Business and investment
communities have long debated whether there is real connection
between socially responsible business practices and positive
financial performance. In the last decade an increasing number of
studies have been conducted to examine this link. A DePaul
University study in 2002 showed that overall financial performance
of the 2001 Business Ethics Best Citizen companies was
significantly better than that of the remaining companies in the
Standard and Poor (S&P) 500 Index, based on the 2001 Business
Week ranking of total financial performance. The ranking was based
on eight statistical criteria, including total return, sales growth and
profit growth over the one-year and three-year periods, as well as net
profit margins and return on equity.
Reduced Operating Costs: Some CSR initiatives can reduce
operating costs dramatically. For example, many initiatives aimed at
improving environmental performance, such as reducing emissions
of gases that contribute to global climate change or reducing use of
agrochemicals also lower costs. Many recycling initiatives cut
waste-disposal costs and generate income by selling recycled
materials. In the human resources arena, flexible scheduling and
other work-life programs that result in reduced absenteeism and
increased retention of employees often save costs through increased
productivity and reduction of hiring and training costs.

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 Increased Sales and Customer Loyalty: A number of studies have
suggested a large and growing market for the products and services
of companies perceived to be socially responsible. While businesses
must first satisfy customers‟ key buying criteria, such as price,
quality, availability, safety and convenience; studies also show a
growing desire to buy (or not buy) because of other values-based
criteria, such as “sweatshop-free” and “child-labour-free” clothing,
lower environmental impact and absence of genetically-modified
materials or ingredients.
Increased Productivity and Quality of Work Life: Efforts to
improve working conditions, lessen environmental impacts or
increase employee involvement in decision-making often lead to
increased productivity and reduced error rate in a company. For
example, companies that improve working conditions and labour
practices among their suppliers often experience a decrease in
merchandise that is defective or can‟t be sold.
Increased Ability to Attract and Retain Employees: Companies
perceived to have strong CSR commitments often find it easier to
recruit and retain employees, resulting in a reduction in turnover and
associated recruitment and training costs. Even in difficult labour
markets, potential employees evaluate a company‟s CSR
performance to determine whether it is right “fit”.

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 CHAPTER-III

3.0 METHODOLOGY

This project is done adopting the qualitative analysis method. It is based on

secondary data as it is not possible to collect primary data within short period of
time. I have accessed various websites, journals, books and magazines to collect
different types of data.

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 CHAPTER-IV
4.0 PRESENTATION OF DATA, ANALYSIS AND FINDINGS

4.1. Infosys

Corporate social responsibility is securely rooted, Infosys shares the

organization CSR values with employees and promoting them to nature to
attribute of working for the better society .Infosys is initiated special awards for
employee rewards and recognition to individual contribution to social
responsibility.

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 Infosys CSR budget is based on the grants managed by a dedicated team at
Infosys Foundation, 26 full time members are working at Infosys the details of
granted amount. One percent of Infosys‟ profit goes to the foundation, the
company strengthened its commitment to social causes like aiding the destitute
and the disadvantaged people.
(Currency in US $ Billions)

SOCIAL 2007-08 2006-07 2005-06

PROGRAMS
INFOSYS 5 4 3
FOUNDATION
OTHER CSR 3 4 2
INITIATIVES

TOTAL 8 8 5

The above data shows the amount of money spent by Infosys for its
foundation and other CSR activities. It increased from 2005-06 to 2006-07, but
remained constant in the next financial year, 2006-07 to 2007-08.
About 15000 libraries established in schools across India since 2006, 3.72
million square feet of office space in TIER2 cities across India in the year 2007-
08 and 830000 government school children benefitted by free mid-day meal
initiative.
In 1996, Infosys created the Infosys Foundation in the state of Karnataka,
operating in the areas of health care, social rehabilitation and rural uplift,
education, arts and culture. Since then, this foundation has spread to the Indian
states of Tamil Nadu, Andhra Pradesh, Maharashtra, Kerala, Orissa and Punjab.
The Infosys Foundation is healed by Mrs. Sudha Murthy, wife of chairman
Narayana Murthy.

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 Since 2004, Infosys has embarked on a series of initiatives to consolidate
and formalize its academic relationships worldwide under the umbrella of a
person called AcE- Academic Entente. Through case study writing, participation
in academic conferences and university events, research collaborations, hosting
study trips to Infosys Development Centres and running the Instep Global
Internship Programs, the company communicates with important stakeholders in
the academia.
4.2. Hindustan Unilever ( HUL)

Consumer goods major Hindustan Unilever (HUL) today said it has

tied up with the Tata group retail arm Star Bazar to promote education
among the underprivileged children.
HUL and Star Bazar had conducted the „India‟s Favourites‟
campaign last September and had created awareness about various social
causes, including education of the underprivileged children, welfare of the
blind children and supporting orphans.

Project Shakthi
The latest initiative by HUL reflects the low discretionary spending
rates of its rural shoppers. With Project Shakthi which HUL launched in
2000, it aims to work with female entrepreneurs. The scheme is based on a

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 network of self-help groups and empowers female entrepreneurs to
distribute HUL products like soap and shampoo.

Shiksha

P& G has aimed at education for its CSR initiative. Its effort called
Shiksha, they are leveraging upon a tie-up0 with partners like Child Rights
and YOU as well as Round Table India. Under this banner, a percentage of
profits generated by brands like Tide, Ariel and Vicks are to be donated to
secure better schooling for children. According to P & G(Procter and
Gamble Company) India‟s marketing manager, “Shiksha is not just an
initiative, but a passion that we as an organization strongly believe in.”
According to him, they are helping to build the future of India through
education. They aim to build 20 schools this year and another 20 in the
coming year. In order to stimulate awareness and interest in the most
recent campaign has a strong marketing angle.

Water Conservation and Harvesting

HUL‟s water conservation and harvesting project has two major
objectives:

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 a) To reduce water conservation in its own operations and regenerate
sub-soil water tables at its own sites through the principle of 5R-
Reduce, Reuse , Recycle, Recover and Renew.
b)Helps adjacent villages to implement appropriate models of
watershed development.

Health and Hygiene Education

Lifebuoy Swastya Chetna(LBSC) is a rural health and hygiene

initiative which was started in 2002. LBSC was initiated in media dark
villages (in UP, MP, Bihar, West Bengal, Maharashtra, Orissa) with the
objective of spreading awareness about the importance of washing hands
with soap.

The need for a program of this nature arose from the fact that
diarrhoeal diseases are a major cause of death in the world today. It is
estimated that diarrhoea claims the life of a child every 10 secondsand
one-third of these deaths are in India. According to a study done by the
London School of Hygiene and Trpical Medicine, the simple practice of
washing hands with soap and water can reduce diarrhoea by as much 47
percent. However, ignorance of such basic hygiene practices leads to high
mortality rates in rural India.

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 4.3. ITC

ITC's Agri Business Division, one of India's largest exporters of

agricultural commodities, has conceived e-Choupal as a more efficient supply
chain aimed at delivering value to its customers around the world on a sustainable
basis.

e-Choupal

The e-Choupal model has been specifically designed to tackle the

challenges posed by the unique features of Indian agriculture, characterised by
fragmented farms, weak infrastructure and the involvement of numerous
intermediaries, among others.

'e-Choupal' also unshackles the potential of Indian farmer who has been
trapped in a vicious cycle of low risk taking ability > low investment > low
productivity > weak market orientation > low value addition > low margin > low
risk taking ability. This made him and Indian agribusiness sector globally
uncompetitive, despite rich & abundant natural resources.

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Such a market-led business model can enhance the competitiveness of Indian
agriculture and trigger a virtuous cycle of higher productivity, higher incomes,
enlarged capacity for farmer risk management, larger investments and higher
quality and productivity.

Further, a growth in rural incomes will also unleash the latent demand for
industrial goods so necessary for the continued growth of the Indian economy.
This will create another virtuous cycle propelling the economy into a higher
growth trajectory. The network currently comprises 6500 e-choupals reaching out
to more than 4 million farmers in 40000villages in the states of Madhya Pradesh,
Uttar Pradesh , Haryana, Uttaranchal, Rajasthan, Maharashtra,Karnataka, Andhra
Pradesh, Tamil Nadu and Kerala.

Wasteland Development: Social Forestry

During 2008-09, 2392 hectares were brought under Social Forestry

Plantations, expanding the cumulative total to 14360 hectares. The social forestry
project today covers 34 mandals, 454 villages and 16061 poor households. ITC‟s
social and farm forestry programmes have greened over 90000 hectares of land.

Integrated Agriculture Development

These interventions aim to improve farm productivity, contributing to

higher incomes, by promoting a package of efficient farm practices and
technologies. During 2008-09, 65 group irrigation projects and sprinkler sets
were installed, 550 composting units were constructed and 898 demonstration
plots were promoted covering 1750 farmers.

Economic Empowerment of Women

These programmes aim to create sustainable income opportunities for

women. Till 2008-09, 1296 active self-help groups (SHG) with 18032 members

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had mobilized small savings of rupees one thirty five lacs. During the year, 6610
women have been gainfully employed either through micro-enterprises (931) or
as self-employed (5679) through income generation loans.

“Carbon Positive”-4th Year in a Row

ITC continued to enlarge its positive carbon footprint through significant

efforts in energy conservation, enhanced use of renewable energy resources and
large scale sequestration through farm and social forestry initiatives. Through a
rigorous process supported by benchmarking and stringent audits, specific energy
consumption reduced by 9.2 percent in the Bengaluru cigarette factory, 14.2
percent in Surya Nepal‟s Simra factory, 2.9 percent in Tribeni Speciality Paper
unit, 7.6 percent in the Munger Packaging Unit, 6.3 percent in ITC Hotel Maurya,
4.1 percent in Windsor and by 6.1 percent in Sherrton Chola.

ITC “Water Positive”-7th Year in a Row

ITC units drew 32.7 million kilolitres of fresh water in 2008-09 (27.5 MKL
in 2007-08). Various units that achieve reduction in specific water consumption
were: Munger Packaging and Printing Unit-22.4 percet; Chirala Leaf Threshing
plant-9.6 percent; Cigarette Units at Bengaluru-14.3 percent; Kidderpore-16.6
percent and Saharanpur-23.4 percent; ITC Windsor-12.7 percent,Sheraton-16.8
percent and New Delhi-10.6 percent.

ITC continued to invest in rainwater harvesting potential in socially

relevant areas as well as at Company Premises. Total rainwater harvesting
potential so far created by the company is more than twice hew total water
consumed by its operations.

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 4.4. TATA

There Tata group has long accepted the idea that CSR makes business
sense. This was realized by JN Tata way back in 1895, when he stated, "We do
not claim to be more unselfish, more generous or more philanthropic than others,
but we think we started on sound and straightforward business principles
considering the interests of the shareholders, our own and the health and welfare
of our employees... the sure foundation of prosperity."

Since inception, the Tata group has placed equal importance on

maximizing financial returns as on fulfilling its social and environmental
responsibilities - popularly known as the triple bottom line. After decades of
corporate philanthropy, the efforts of the group in recent years have been directed
towards synchronization of the Triple Bottom Line (TBL). Through its TBL
initiative, the Tata group aimed at harmonizing environmental factors by
reducing the negative impact of its commercial activities and initiating drives
encouraging environment-friendly practices. In order to build social capital in the
community, the group has got its senior management involved in social
programs, and has encouraged employees to share their skills with others and
work with community-based organization.

Tata Group is an Indian multinational conglomerate company headquartered. It

encompasses seven business sectors: communications and information
technology, engineering, materials, services, energy, consumer products and
chemicals. Tata Group was founded in 1868 by Jamsetji Tata as a trading

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company. It has operations in more than 80 countries across six continents. Tata
Group has over 100 operating companies with each of them operating
independently. Out of them 32 are publicly listed. The combined market
capitalisation of all the 32 listed Tata companies was INR 6 Trillion ($96.87
billion) as of Sep 2013. Tata receives more than 58% of its revenue from outside
India

Tata Group remains a family-owned business, as the descendants of the founder

(from the Tata family) own a majority stake in the company. The current
chairman of the Tata group is Cyrus Pallonji Mistry, who took over from Ratan
Tata in 2012. Tata Sons is the promoter of all key Tata companies and holds the
bulk of shareholding in these companies. About 66% of the equity of Tata Sons is
held by philanthropic trusts endowed by members of the Tata family.

The Tata Group and its companies & enterprises is perceived to be India's best-
known global brand within and outside the country as per
anASSOCHAM survey. The 2009, annual survey by the Reputation Institute
ranked Tata Group as the 11th most reputable company in the world.

The Tata Group has helped establish and finance numerous quality research,
educational and cultural institutes in India. The Tata Group was awarded the
Carnegie Medal of Philanthropy in 2007 in recognition of the group's long history
of philanthropic activities. Some of the institutes established by the Tata Group
are:

 Tata Institute of Fundamental Research

 Tata Institute of Social Sciences
 Indian Institute of Science
 National Centre for Performing Arts
 Tata Management Training Centre

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 Tata Memorial Hospital
 Tata Football Academy
 Tata Cricket Academy
 Tata Trusts, a group of philanthropic organisations run by the head of the
business conglomerate Tata Sons
 The JRD Tata Ecotechnology Centre
 The Energy and Resources Institute (earlier known as Tata Energy and
Research Institute) – a non-governmental research institute.
 Tata Medical Center, was inaugurated on 16 May 2011, by Ratan Tata

The Tata Group has donated a 2.20 billion ($50 million) to the
prestigious Harvard Business School (HBS) to build an academic and a
residential building on the institute's campus in Boston, Massachusetts. The new
building will be called the Tata Hall and used for the institute's executive
education programmes. The amount is the largest from an international donor in
the business school's 102-year-old existence.

One Tata project that brought together Tata Group companies (TCS, Titan
Industries and Tata Chemicals) was developing a compact, in-home water-
purification device. It was called Tata swach which means "clean" in Hindi and
would cost less than 1000 rupees (US$21). The idea of Tata swach was thought
of from the 2004 tsunami in the Indian Ocean, which left thousands of people
without clean drinking water. This device has filters that last about a year long for
a family of five. It is a low-cost product available for people who have no access
to safe drinking water in their homes. The advantage of this device is that it does
not require the use of electricity.

TCS also designed and donated an innovative software package that teaches
illiterate adults how to read in 40 hours. "The children of the people who have
been through our literacy program are all in school", says Pankaj Baliga, global
head of corporate social responsibility for TCS.

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In 1912, Tata Group expanded their CEO's concept of community philanthropy to
be included in the workplace. They instituted an eight-hour workday, before
nearly any other company in the world. In 1917, they recommended a medical-
services policy for Tata employees. The company would be among the first
worldwide to organise modern pension systems, workers' compensation,
maternity benefits, and profit-sharing plans.

Trusts created by Tata Group control 65.8% of company shares, so it can be said
that about 66% of the profits of Tata Group go to charity. The charitable trusts of
Tata Group fund a variety of projects, for example the Tata Swach and the TCS
project. They founded and still support such cherished institutions as the Indian
Institute of Science, Tata Institute of Fundamental Research, the National Centre
for the Performing Arts and the Tata Memorial Hospital. Each Tata Group
company channels more than 4 percent of its operating income to the trusts and
every generation of Tata family members has left a larger portion of its profit to
them.

In 2013, the Tata group, through the Tata Relief Committee and the Himmotthan
Society, an associate organisation of the Sir Ratan Tata Trust, has been working
in close collaboration with the Uttarakhand government to provide relief to the
impacted local communities in three districts of the state. The relief activities,
which include provision of food and household material, have so far covered over
65 villages and 3,000 families. In the first phase of relief, the group expects to
reach over 100 villages. The Tata group also plans to implement long-term
measures for the economic, ecological and resource sustainability of the affected
communities and areas. The plan, currently under development, will be based on
a baseline survey of impacted villages which is being carried out by teams from
the Centre for Disaster Management at the Tata Institute of Social Sciences
(TISS), Mumbai, in collaboration with local organisations and communities

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 The greatest contribution of TATA Group was done by Ratan Tata to the
26/11 Mumbai terrorists attacked victims. He is the chairman of Indian Hotels
who own the Taj Mahal Hotel Mumbai.
1. All category of employees including those who had completed even one
day as casuals were treated on duty during the time the hotel was closed.
2. The relief and assistance was extended to all those who died at the railway
station, surroundings including the “Pav-Bhaji” vendor and the oan shop
owners.
3. During the time the hotel was closed, the salaries were sent by money
order.
4. A psychiatric cell was established in collaboration with Tata institute of
Social Sciences to counsel those who needed such help.
5. Employee outstretch centres were opened where all help, food, water,
sanitation, first aid and counselling was provided. 1600 employees were
covered by this facility.
6. Ratan Tata personally visited the families of all the 80 employees who in
some manner either through injury or getting killed were affected.
7. Even the other people, the railway employees, the police staff, the
pedestrians who had nothing to do with Tatas were covered by
compensation. Each one of them was provided subsistence allowance of
rupees ten thousand for all these people for 6months.
8. Tata will take responsibility of life education of 46 children of the victims
of the terror. This was the most trying period in the life of the organisation.
Senior managers including Ratan Tata were visiting funeral to funeral over
the 3 days that were most horrible.
Known for its philanthropic activities, one of the country‟s most respected
business houses-the TATA Group spends rupees 800-1000 crore a year on
Corporate Social Responsibility.

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 4.5. ONGC

The above bar graph shows the amount ONGC has been spending for its
CSR activities. It was around rupees hundred lacs in 2006-07 which increased to
rupees one hundred and fifty lacs and rupees one hundred and seventy lacs in
2007-08 and 2008-09 respectively.

The above pie-chart shows the amount total expenditure spent in different
fields like 10 percent for healthcare, 8 percent for education, 6 percent for
community development and likewise.

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 The above graph highlights the decrease in consumption of water over
years which is highly beneficial for the society.

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 CHAPTER-V
CONCLUSION AND RECOMMENDATION
While successfully completing this project, I have identified that Corporate
Social Responsibility drives for boosting up economic growth of any country. In
India, INFOSYS, HUL, ITC, TATA and ONGC are playing an anchor role to
contribute a part of their substantial profit to the stakeholders. No company in
this world contributes towards the society without keeping in mind the objective
of Profit Maximization. When a company contributes a part of their profit
towards the society, they also create a brand value of their own name. In India,
Tata Sons (JRD Tata) in the mid 1800s started the initiative to boost up financial
inclusion. At the end it can be said that if MNCs start doing these contributions
then government‟s 12th five year plan, that is, Inclusive Growth, the fund raised
will be put to use to fulfill the objectives of the government.

Besides various recommendations has come to my mind while doing this

project,

In the recent Companies Bill 2011, mandatory disclosure of companies

whose profit exceeding rupees thousand crore or net worth rupees five
hundred crore will have to contribute 2 percent of their profit towards the
society.
The above proactive initiative if implemented properly, Government can
expect a fund of rupees thousand crore.
In order to do the business successfully, corporate organization should also
take fair steps so that the hazardous carbon emissions does not cross the
limit and harm the society.
Adequate monitoring of recent implementations and their disclosure in
financial statements will help in maintaining a transoerancy of the
company.

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BIBLIOGRAPHY
This project has been done with the help of different books, magazines,
journals and websites. My supervisor sir has also suggested some suggestions.
Summerising them the concept of Corporate Social Responsibility has been
highlighted.

 Bansal, P.; Roth, R. (2000). "Why Companies Go Green: A model of

Ecological Responsiveness".The Academy of Management Journal
 Bhattacharya, CB, Sankar Sen and Daniel Korschun (2011) Leveraging
Corporate Social Responsibility: The Stakeholder Route to Business and
Social Value, Cambridge University Press, Cambridge: UK.
 Bulkeley, H. (2001). "Governing Climate Change: The Politics and Risk
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 Brand Strategy (2007). "10 key things to know about CSR". London. pg.47.
 Catalyst Consortium (2002). "What is Corporate Social Responsibility?
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September 2013.
 ITC: Leading Multi-business conglomerate turns 100". The Economic Times.
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 „‟Tata Group Financial Statements‟‟. Tata Group
 "About us." Tata Group. Retrieved on 20 January 2011. "Contact Bombay House
24, Homi Mody Street Fort, Mumbai 400 001 India."
 "9 Indian brands amongst world's 500 best - Rediff.com Business". Rediff.com.
Retrieved 8 July 2013.
 "Corporate Sustainability Report 2011-12". ONGC. Retrieved 10 November 2013.
 "Maharatna status for IOC, ONGC and NTPC". The Hindu. 16 November 2010.
Retrieved 10 November 2013.

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 Chahoud, Dr. Tatjana; Johannes Emmerling, Dorothea Kolb, Iris Kubina, Gordon Repinski,
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 Khanna, Parul; Gitika Gupta (January 2011). PARUL KHANNA Paper- Corporate Social
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 Sathish, Ramya. "Corporate Social Responsibility in India - Putting Social-Economic Development
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