Corporate Social Responsibility- an Imperative Perspective

Topics: Corporate social responsibility, Business ethics, Social responsibility Pages: 21 (6027 words) Published: January 29, 2013
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A Project on -


Project submitted by: Apurva Taran B.B.A.LL.B/2010/011 NATIONAL LAW UNIVERSITY, ORISSA

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 Introduction  How does it help in Human development?  Global analysis of CSR  Focus on Indian perspective  Initiative from the major companies in India  Some major issues regarding CSR  Worldwide Effect  Conclusion  References

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Corporate social responsibility is basically a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment. Corporate social responsibility is represented by the contributions undertaken by companies to society through its business activities and its social investment. This is also to connect the Concept of sustainable development to the company’s level. Over the last years an increasing number of companies worldwide started promoting their Corporate Social Responsibility strategies because the customers, the public and the investors expect them to act sustainable as well as responsible. In most cases CSR is a result of a variety of social, environmental and economic pressures. The Term Corporate Social Responsibility is imprecise and its application differs. CSR can not only refer to the compliance of human right standards, labour and social security arrangements, but also to the fight against climate change, sustainable management of natural resources and consumer protection. The concept of Corporate Social Responsibility was first mentioned 1953 in the publication ‘Social Responsibilities of the Businessman’ by William J. Bowen. However, the term CSR became only popular in the 1990s, when the German Betapharm, a generic pharmaceutical company decided to implement CSR. The generic market is characterized by an interchange ability of products. In 1997 a halt in sales growth led the company to the realization that in the generic drugs market companies could not differentiate on price or quality. This was the prelude for the company to adopt CSR as an expression of the company’s values and as a part of its corporate strategies. The concept of social responsibility among businessmen, Particularly in India, is not new and can be easily seen in the form of magnificent temples, High mosques, large dharmshalas and great educational institutions. Indian literature

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is full of incidents when businessmen have gone out of the way to help extract kings and Societies out of crises. Many Indian businesses are known for staying one step ahead of the government, as far as the welfare of employees and societies is concerned. Companies like TATA and BIRLA have been imbibing the case for social good in their operations for decades long before CSR become a popular cause. Inspite of having such life size successful examples, CSR in India is in a very nascent stage. It is still one of the least understood initiatives in the Indian development sector. It is followed by a handful of public companies as dictated by the very basis of their existence, and by a few private companies, with international shareholding as this is the practice followed by them in their respective foreign country. Thus the situation is far from perfect as the emphasis is not on social good but rather on a policy that needs to be implemented.


SOCIAL CSR ASPECTS Human rights Companies: 1. Do whatever they can to promote human rights in those countries where they operate. In areas of conflict, where gross violations of human rights occur, extra care should be taken with respect to honouring basic human rights. 2. Investigate the impact of any business operation on a given country’s human rights situation before launching business activities there. 3. Include an explicit reference to the Universal Declaration of Human Rights of the United Nations or other...
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