INTRODUCTION TO THE PROJECT
This project deals with the Corporate Social Responsibility (CSR) of companies, and how the companies can improve their CSR profile even more. Two companies, one Indian and one International, have been chosen for the purpose of this study: * International company - Vodafone Group Ltd.
* Indian Company - Kraft Foods India Ltd. (Cadbury India Ltd).
Topics discussed in the project:
* The History, Management (Board of Directors) and the Products of the respective companies have been looked into, to get a better understanding of their CSR initiatives. * Also, the CSR initiatives of the competitor companies have also been studied, to make a comparison. * Lastly, any suggestions, which were found to have an impact on the CSR of the companies, were also given, followed by the conclusion.
In order to get a better understanding about a company’s CSR, what exactly is CSR has been first looked into – its definition, meaning and importance.
CORPORATE SOCIAL RESPONSIBILITY
Corporate Social Responsibility (CSR – also known as Corporate Conscious, Corporate Citizenship, Social Performance or Sustainable Responsible Business) is a form of corporate self-regulation integrated into a business model. CSR model functions as a built-in, self regulating mechanism whereby, a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process with the aim to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders. Corporate social responsibility (CSR) is the responsibility recognized by the companies for acting in socially responsible manner. There is no single universally accepted definition of corporate social responsibility, it has generally come to mean business decision making linked to ethical values, legal compliance, and respect for people, community, and environment. CSR accepts a company to go further than required by law so as to: * Treat employees fairly and with respect
* Operate with integrity and in an ethical manner in all its business dealings with customer, suppliers, lenders, and others * Respect human rights
* Sustain the environment for future generations
* Be a responsible neighbour in the community and a good ‘corporate citizen’. The term "corporate social responsibility" came into common use in the late 1960s and early 1970s after many multinational corporations formed the term stakeholder, meaning those on whom an organization's activities have an impact. CSR is titled to aid an organization's mission as well as a guide to what the company stands for and will uphold to its consumers. Development business ethics is one of the forms of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business environment. Importance of CSR:
Corporate social responsibility (CSR) is of growing importance to governments and service providers as they promise to meet challenges of social problems within changing welfare environments. The modern governments have increasingly resorted to corporate involvement in local services and have also encouraged the expansion of occupational welfare. Despite its growing importance CSR remains an under researched area even as business organizations have faced new demands for increasing levels of occupational provision and involvement in local partnerships with public services. Over the last twenty years an increasingly large number of business houses have responded positively to the banner of CSR. This has perhaps been partly due to their aspiration to make their operations more ethical. While for the government, the role the businesses can play in the development of society is...
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