Csr of Indian Oil

Topics: Health care, India, Indian Oil Corporation Pages: 7 (2060 words) Published: August 27, 2013
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PROJECT ON“ Corporate Social Responsibility Activity OF Indian Oil”| |
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Name :- Revathi RadhakrishnanClass:- MMS (Finance)Roll No: 168Subject :- Business Ethics and Corporate GovernanceDate:- 21/01/2013| |
Submitted To:- Prof.
Introduction:
Indian Oil Corporation Ltd. is India’s largest company by  sales with a  turnover of Rs. 4,09,957 crore   ($ 85,550 million) and profit of Rs. 3,955 crore ($ 825 million) for the year 2011-12.  
Indian Oil is the highest ranked Indian company in the latest Fortune ‘Global 500’ listings, ranked at the 83rd position. Indian Oil's vision is driven by a group of dynamic leaders who have made it a name to reckon with. 

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"CSR: A Cornerstone of our Enduring Success"

At Indian Oil, corporate social responsibility (CSR) has been the cornerstone of success right from inception in the year 1964. The Corporation’s objectives in this key performance area are enshrined in its Mission statement: "…to help enrich the quality of life of the community and preserve ecological balance and heritage through a strong environment conscience." Indian Oil have defined a set of core values– Care, Innovation, Passion and Trust They take pride in being able to claim almost all countrymen as customers. That’s why, they coined the phrase, “Indian Oil – India Inspired", in corporate campaigns. Public corporations like Indian Oil are essentially organs of society deploying significant public resources. Therefore, they are aware of the need to work beyond financial considerations and put in that little extra to ensure that they are perceived not just as corporate behemoths that exist for profits, but as wholesome entities created for the good of the society and for improving the quality of life of the communities we serve.

As a constructive partner in the communities in which it operates, Indian Oil has been taking concrete action to realize its social responsibility objectives, thereby building value for its shareholders and customers. The Corporation respects human rights, values its employees, and invests in innovative technologies and solutions for sustainable energy flow and economic growth. In the past five decades, Indian Oil has supported innumerable social and community initiatives in India. Touching the lives of millions of people positively by supporting environmental and health-care projects and social, cultural and educational programmes.

Besides focusing primarily on the welfare of economically and socially deprived sections of society, Indian Oil also aims at developing techno-economically viable and environment-friendly products & services for the benefit of millions of its consumers, while at the same time ensuring the highest standards of safety and environment. CSR activities of Indian Oil as follows:-1.Sharing Profits2.LPG Scheme3.Indian Oil Foundation| 1.Sharing Profits |

Every year, Indain Oil sets aside a fixed portion of its profits for spreading smiles in millions of lives across the country through a comprehensive community welfare and development programme. About one-fourth of the community development funds are spent on the welfare of Scheduled Caste and Scheduled Tribe beneficiaries. 

Indian Oil has a concerted social responsibility programme to partner communities in health, family welfare, education, environment protection, providing potable water, sanitation, and empowerment of women and other marginalised groups. Indain Oil has always been in the forefront in times of national emergencies. Indain Oil People have time and again rallied to help victims of natural calamities, maintaining uninterrupted supply of petroleum products and contributing to relief and rehabilitation measures in cash and kind. Indian Oil’s community-focused initiatives include allotment of petrol/diesel station dealerships and LPG distributorships to beneficiaries from among Scheduled Castes, Scheduled Tribes,...
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