ON CSR ACTIVITIES
UNDERTAKEN BY TATA
Submitted to: - Submitted by: - Lect. Miss. Kiran Verma GROUP NO- 3 LIECA Section: - A3002 MCA (Hons.) LHST INTRODUCTION TO CSR
(CORPORATE SOCIAL RESPONSIBILTY)
Corporate social responsibility (CSR) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment.
Corporate social responsibility (CSR) is:-
* An obligation, beyond that required by the law and economics, for a firm to pursue long term goals that are good for society.
* 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 that of the local community and society at large.
* About how a company manages its business process to produce an overall positive impact on society. Corporate social responsibility means:-
I. Conducting business in an ethical way and in the interests of the wider community.
II. Responding positively to emerging societal priorities and expectations.
III. Balancing shareholder interests against the interests of the wider community.
IV. Being a good citizen in the community.
More stress on our social and educational system on the need for work for our society can increase the social responsibilities of corporate organizations.
However social responsibility can also be defined as:-
An organization’s obligation to maximize its positive impact on stakeholders and to minimize its negative impact. It includes legal, ethical, economic, and philanthropic (discretionary) dimensions. CSR is like a hot air balloon, takes a long time to prepare before the actual launch. A tree grows stronger with a well-established root. And this can only occur with good soil, careful fertilizing, watering, and time. Companies having long term vision are likely to take into consideration not just a profit motive having a skimming policy; rather, they intend to stay in the market with a vision of capturing the heart share.
Two views of corporate social responsibility:-
The shareholder view:-
* The only social responsibility of business is to create shareholder wealth. * Corporate management cannot decide what is in the social interest. * The costs of social responsibility which do not increase the value of stock will be passed on to consumers.
The multiple stakeholders view:-
* All customers and employees are treated with dignity. * Relationships with suppliers must be based on mutual trust. * Belief in fair economic competition.
* Business can contribute to social reform and honor human rights.
Guiding Mission of the Tata group by JRD Tata:-
"No success or achievement in material terms is worthwhile unless it serves the needs or interests of the country and its people”. The Tata Group comprises 96 operating companies in seven business sectors:- i. Information systems and communications;
vi. Consumer Products;
The Tata Group has operations in more than 54 countries across six continents, and its companies export products and services to 120 nations. The Tata Group is one of India's largest and most respected business conglomerates, with revenues in 2005-06 of $21.9 billion (Rs 967,229 million), the...