Complacent sustainability of corporate social responsibility for training and development in select company in India (original) (raw)

Challenges and Corporate Social Responsibility for Rural Development in India

The present paper focuses on understanding the meaning of corporate social responsibility (CSR). CSR is a corporation's initiatives to assess and take responsibility for the company's effects on environmental and social well being. The term generally applies to efforts that go beyond what may be required by regulators or environmental protection groups. The present paper attempts to analyse the corporation " s attitude of resistance/ignorance or sustainability towards fulfilling their responsibilities towards community and environment.Further an attempt has been made to find out the approach of corporate sector towards community development in India. Impact of various CSR procedures has been undermined on different rural areas in India in terms of livelihood, health, education, environment and infrastructure. The paper concludes that most of the companies have well defined CSR policy and few corporate have well implemented these policies for the better of rural communities by affecting the various areas of their life. Some recommendations have also been provided to improve the CSR in India as it is extremely desirable.

Corporate Social Responsibility in Rural Development Sector: Evidences From India

School of Doctoral Studies European Union, 2011

The paper attempts to explore Corporate Social Responsibility (CSR) practices particularly in the context of rural development. The research questions examine do the corporate consider rural people as a stakeholder? If so, what CSR initiatives taken for development of rural areas and how the corporates implement their CSR initiatives as a part of their business strategy? Finally it evaluates impacts of CSR actions on the socioeconomic development of rural people. For the purpose, fourteen public and private Indian companies/firms have been selected to study their CSR practices in the context of rural development. The methodology of the present study relied on the web-based research, review of print literature and visit to the selected sites to witness CSR practice. The paper concludes that social responsibility is regarded as an important business issue of Indian companies irrespective of size, sector, and business goal. Therefore, CSR actions have positive impacts not only on development of rural community but also in their business. The authors reveal some lesson on CSR practices in India which can provide guidance to corporate entities for better implementation of CSR activities.

AN OVERVIEW OF CORPORATE SOCIAL RESPONSIBILITY (CSR) INITIATIVES IN INDIA.

Corporate social responsibility refers to norms that how businesses are managed to bring about an overall positive impact on the communities, cultures, societies and environments in which they operate. The fundamentals of CSR rest on the fact that not only public policy but even corporate should be responsible enough to address social issues. Businesses are to invest their profits in areas such as education, poverty, gender equality, and hunger. But CSR practices are regularly not practiced or done only in namesake especially by MNCs with no cultural and emotional attachments to India. This paper is based on qualitative research design consisting of review of literature through secondary sources of data collection. The data has been examined through content analysis process from various books, newspaper articles and journals. This paper seeks to explain various initiatives taken in the field of CSR along with some suggestions. This paper explains that if this goal has to be realized then the CSR approach of corporate has to be in line with their attitudes towards setting clear mainstream business objectives, undertaking potential investments, measuring and reporting performance publicly. The most effective CSR plans ensure that while organizations comply with legislation, their investments also respect the growth and development of marginalized communities and the environment.

CORPORATE SOCIAL RESPONSIBILITY & SUSTAINABILE DEVELOPMENT

UGC Approved (Journal No: 43602) International Journal of Research and Analytical Review (IJRAR), 2019

Since 'Vedic period' the concept of CSR i.e. corporate social responsibility is being practiced in India by the wealthy and powerful people in some other form. Such persons were spending money for societal causes like establishing places of education, building temples, inns & wells. But, in modern India, the concept is given a legalized status and companies are mandated to spend certain percentage of their profit on social welfare. Indian corporate world has welcomed this initiative and started contributing towards the social causes. Now, rather than just a philanthropy approach, corporate houses are coming with innovative ideas in CSR. These innovative CSR are contributing a lot in the devolvement of societies. The Research paper tries to explain the innovative ways of spending CSR fund by various corporate houses in India and challenges being faced by them. This paper will be useful to the companies in designing CSR activities.

"Corporate Social Responsibilty: A study of selected Indian Companies"

ABSTRACT India is one of the top five fastest developing countries and also ranked 6th largest economy in the world with a nominal GDP of $ 2.848 trillion that is really remarkable, but it’s still a developing country, not a developed country. India has been ranked 131st out of 188 countries, as per latest Human Development Report (HDR) 2017 by the United Nations Development Program (UNDP) and Oxfam an International NGO also Reported that- The richest 1% in India cornered 73% of the wealth generated, that shows the biggest income inequality. Where one side India has a lot of industrial activity, good economic condition and people have high income but on another side inequality in income, regional disparities in education, health and living standards also exist. To overcome from economic inequality and to raise the standard of living government of India time to time introduced new policies, rules and regulation, law, scheme, etc. through which they can achieve their sustainable development goal. Even the main objective to introduced CSR law in companies’ act 2013 is for sustainable development of society. The new CSR provision and its proper implementation can take India toward the next level of development. Law and policies have acted as a catalyst in the process of social transformation of people. The concept of CSR is governed by clause 135 of the Companies Act, 2013 and encourages companies to spend at least 2% of their average net profit in the previous three years on CSR activities mentioned in Schedule VII of the companies act 2013. When these corporate shares a little of their prosperity for the development of a country in form of providing education, food, healthcare, skill development, rural development, sport etc. this helps in the overall development of country and simultaneously improvement in the future employability. The purpose of this research is to analyzed the initiative taken by the eligible Indian companies’ under the provision of Corporate Social Responsibility (Sec 135) of The Companies Act 2013.Study was carried out on a 200 Indian companies (100 from public sector and 100 from the private sector and secondary data obtained from their Website, Annual report, CSR policy, CSR report, etc. of three consecutive financial years (FY 2014-15 to FY 16-17). Six related Hypotheses were developed and subjected to statistical analysis, using the Chi-square statistical method and two ways ANOVA without replication and some mathematical calculation. Results obtained reveal that FY 2014-15 only 38.5% of eligible companies meet the minimum spending requirement on CSR. In the same way in the year 2015-16 out of 200 only 114 & 2016-17 out of 200 only 109 selected companies meet the requirement. In coming years 2015-17 there is slight improvement in expenditure on CSR activities. In the public sector most commonly channel used for the implementation of CSR activities are direct and with Ngo same with the private sector. As compared to the public sector, private sector gives more preference to their own Foundation for implementation of CSR activities. The selected Indian companies are directly engaged in CSR activities mostly in the area of Rural Development, Education (especially Girl child), Healthcare, and sanitation and skill development. But In the area of Technical Incubator, Farmers, sport, mid-day meal, the contribution is negligible. Spending only on sanitation, health and education did not meet the expected result for which government introduce the CSR provision in the Companies Act 2013. If a corporate share a little of their prosperity for the development sportsperson also, it will help them to improve their overall personality and simultaneously improves the future prospects in terms of employability. Companies expressed their commitment towards Corporate Social Responsibility and tried to defend their failure to spend 2% in initial year by expressing that CSR Policy formulation is under process, Location of projects could not be finalized and Not formed CSR Committee, now the mentioned that funds have been earmarked for CSR activities and would be carried forward for the next year. But in next year again most of the companies not attain the CSR provision. The paper suggested a more pragmatic approach toward social responsibility compliance among business organizations in India. This Research will be useful for the Practitioners-government, implementing agencies, corporate, lawmaker, Policymaker, CSR officer and committee alike. This feedback will then act as a benchmark for any corrective action that may be required

CSR IN A PUBLIC SECTOR UNDERTAKING IN INDIA – A CASE STUDY

Neyveli Lignite Corporation Limited – a Central Public Sector operating in the backward region of Tamilnadu, has been aggressively pursuing Corporate Social Responsibility since its inception in 1956. What impact its social development initiatives had made on sustainable development in this region was not evidently ascertained for long. The study on Social Sector Activities of Neyveli Lignite Corporation compiled, collated data on NLC’s spending on social infrastructure development in the project area and its spending on promotion of education and health in this region. The study also measured the Human Development Index for this region as an outcome of sustained CSR initiatives taken by this company for over 50 years. Assessment of life expectancy, adult literacy and per capita GDP for this region indicated a higher Human Development Index (HDI) of 0.81 which is higher compared to 0.531 achieved for the state. This finding conclusively portrait the significant contributions made by Neyveli Lignite Corporation towards Human development in this backward region through aggressive CSR strategies.

A STUDY OF SOCIAL DEVELOPMENT THROUGH CORPORATE SOCIAL RESPONSIBILITY (CSR)

Today the impact of CSR is beginning to be seen in companies throughout the world from Human rights to Social development. Various terms are often substituted for CSR like corporate citizenship, corporate ethics, environmental, social, and governance (ESG), among others. Companies have been using the concept of a triple bottom line for CSR. This approach takes into account the inter-connectedness of financial, environmental, and social factors. The triple bottom line is also sometimes referred to under the caption, “people, planet, profit.” This research paper has made an attempt to explain the Social development mechanism through CSR practices followed by Maharatnas Company. For this study I have taken samples of Indian Maharatnas Company to define their social development initiatives through CSR practices. The present study further explores the role of corporates in helping social development through a number of CSR initiatives started by the corporate under the guidance of new CSR regulation implemented by the government of India in 2013. The outcome of the study will help in bringing radical changes in social development through CSR practices. This study is based on secondary data, collected from the Websites of companies, existing research papers, journals, news papers etc. Keywords- Social development, Corporate Social responsibility, CSR Practices, Triple Bottom Line, Maharatnas Company & CSR Regulation.

Development of Corporate Social Responsibility (CSR) in India

Journal of Asian Scientific Research, 2011

The interest in Corporate Social Responsibility (CSR), which recognizes thatcompanies have obligations that extend beyond short-run profit maximization toinclude notions of social and environmental concern, has increased considerably inrecent decades. The globalization of the world economy and the related tradeliberalization has brought forward a discussion of the importance of business as anactor in the development of society. The aim of this research is to analyse theeffectiveness of the CSR strategies of international companies in terms of their impacton development in the host country. This will be performed as a case study of CSR inIndia. India constitutes a location with significant potential for international companiesto contribute to development through CSR since it is an open nation with substantialinternational presence but still faces challenges regarding poverty alleviation andinequalities. Very little academic literature examines the development effects of CSR.In order ...

CSR Practices of Indian Companies for a Better Tomorrow

The concept of Corporate Social Responsibility (CSR) emerged from the sense of responsibility and can be defined as the ethical behaviour of a company towards society. It is a concept which suggests that commercial corporation must fulfil their duty of providing care to the society. Ethics and social responsibility are important concerns in making decisions in all aspects of our life. Ethics and social responsibility affect business as does the economy, government and legal forces.

An Analysis of Corporate Social Responsibility: A Case Study in India

The purpose of this study is to examine whether the corporate social responsibility caters the need of community and corporate. India basically requires this as a third world country and striving to develop its economy by inclusive growth. This study has tried to explore the implementation of CSR and requirements of beneficiaries of Indian Rare Earths Ltd., OSCOM, Chatrapur, Odisha, India which is a Public sector. To carry out the study, a structured questionnaire was administered among the community beneficiaries and their opinion was sought. Factor analysis was done to know the major points accepted by the beneficiaries. The reliability test for society/beneficiaries, Kaiser-Meyer-Olkin Measure of sampling adequacy was 0.739 which shows that factor analysis was useful with data. Bartlett’s test of sphericity tests showed significant level of 0.00. The study reveals 9 factors which are effectively running by IREL, i.e., work on health ground, water management, child welfare and poverty issue, contribution towards Self Help Group (SHG) & livelihood support, efforts on rural income generation & natural management, vocational training for community by IREL, women’s empowerment & unforeseen disaster, tree plantation program and free coaching in slums. But the beneficiaries also seek management’s involvement in governmental programme on polio, rain water harvesting, AIDS prevention which are not yet taken care of properly, and must adopt more villages under its CSR program.