Tata introduction

1. Introduction

From the times of Stone Age to today’s digital world businesses have undergone a dramatic change. Unlike the past where profit generation was only the motive behind every business, today businesses have actually started taking CSR responsibly and not for granted. In fact the companies have moved from their sole purpose of profit generation to the responsibilities and duties they pose to the society. Corporates have realized that in order to survive in this competitive market they need to take care of the people and act responsibly towards the society and its people at whole.
The majority of the studies on CSR, however, are still embedded in the economic and organizational contexts of Europe and the US (35,Raman, 2006)(proquest). Very few studies have actually shown the different aspects of this concept in India. (Arora and Puranik, 2004, balasubramanian et al., 2005; Narwal and Sharma, 2008). In short, the studies of CSR, which have actually looked in the business sector of developing countries, are very limited. As globalization continues to pose challenges to the businesses in emerging nations, the concept of CSR has gained importance in Indian firms. Our study aims to point out these gaps and discuss the approach of TATA (Indian Firm) towards CSR and the motives, obstacles and measures in implementing CSR practices in Indian emerging market. CSR relates to the social responsibilities that corporates have towards the society and its people to benefit. CSR is a form of corporate self-regulation integrated into a business model. An ideal CSR has both ethical and philosophical dimensions, particularly in India where there exists a wide gap between sections of people in terms of income and standards as well as socio-economic status (Bajpai, 2001) . Goyder(2003) argues: ―Industry in the 20th century can no longer be regarded as a private arrangement for enriching shareholders. It has become a joint enterprise in which workers,