2.13 PARUL KHANNA Paper - Corporate - Social - Responsibility-1

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\pard\li773\ri0\sl-373\slmult0 \fs30\cf0\f1\charscalex100\b {APJRBM
Volume 2, Issue 1 (JANUARY 2011)
ISSN 2229-4104 }\b0 \par\pard\li11
73\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1173\ri0\sl-213\slmult0 \fs18\cf0\par
\pard\li1173\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1173\ri0\sl-400\slmult0 \fs
30\cf0\f1\charscalex100\b {STATUS OF CORPORATE SOCIAL RESPONSIBILITY: IN INDIAN
}\b0 \par\pard\li4760\ri0\sl-320\slmult0 \fs30\cf0\f1\charscalex100\b {CONTEXT }
\b0 \par\pard\li3973\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li3973\ri0\sl-213\slm
ult0 \fs18\cf0\par\pard\li3973\ri0\sl-440\slmult0 \fs30\cf0\f1\charscalex100\b {
MRS PARUL KHANNA }\b0 \par\pard\li4066\ri0\sl-333\slmult0 \fs30\cf0\f1\charscale
x100\b {MRS GITIKA GUPTA }\b0 \par\pard\li3146\ri0\sl-266\slmult0 \fs24\cf0\f1\c
harscalex100 {Lecturer Rayat- Bahra Institute of Management, }\par\pard\li4920\r
i0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {Hoshiarpur }\par\pard\li773\ri0\sl
-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li77
3\ri0\sl-306\slmult0 \fs30\cf0\f1\charscalex100\b {Introduction }\b0 \par\pard\l
i773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs24\cf0\f1
\charscalex100 {In the last twenty years, there has been a sea change in the nat
ure of the triangular relationship}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\
f1\charscalex100 {between companies, the state and the society. No longer can fi
rms continue to act as independent}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\
f1\charscalex100 {entities regardless of the interest of the general public. The
evolution of the relationship between }\par\pard\li773\ri0\sl-266\slmult0 \fs22
\cf0\f1\charscalex100 {companies and society has been one of slow transformation
from a philanthropic coexistence to }\par\pard\li773\ri0\sl-280\slmult0 \fs22\c
f0\f1\charscalex100 {one where the mutual interest of all the stakeholders i
s gaining paramount importance. }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\
f1\charscalex100 {Companies are beginning to realise the fact that in order to g
ain strategic initiative and to ensure }\par\pard\li773\ri0\sl-266\slmult0 \fs22
\cf0\f1\charscalex100 {continued existence, business practises may have to be
moulded from the normal practise of }\par\pard\li773\ri0\sl-280\slmult0 \fs24\
cf0\f1\charscalex100 {solely focussing on profits to factor in public goodw
ill and responsible business}\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\ch
arscalex100 {etiquettes(Reynard and Forstater, 2002). An examination of some of
the factors which have led }\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f1\char

scalex100 {to the development of the concept of corporate social responsibili
ty (CSR) would be ideal }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\chars
calex100 {starting ground for the conceptual development of suitable corpo
rate business practises for}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\char
scalex100 {emerging markets. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\p
ard\li773\ri0\sl-333\slmult0 \fs24\cf0\f1\charscalex100 {The business environmen
t has undergone vast changes in the recent years in terms of both the}\par\pard\
li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {nature of competition and
the wave of globalization that has been sweeping across markets.}\par\pard\l
i773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {Companies are expanding thei
r boundaries from the country of their }\par\pard\li773\ri0\sl-266\slmult0 \fs2
4\cf0\f1\charscalex100 {origin to the evolving markets in the developing countri
es which have been sometimes referred}\par\pard\li773\ri0\sl-280\slmult0 \fs24\c
f0\f1\charscalex100 {to as emerging markets. The current trend of globalization
has brought a realisation among the}\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0
\f1\charscalex100 {firms that in order to compete effectively in a competitiv
e environment; they need clearly }\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0
\f1\charscalex100 {defined business practises with a sound focus on the public i
nterest in the markets (Gray, 2001). }\par\pard\li773\ri0\sl-280\slmult0 \fs24\c
f0\f1\charscalex100 {The increase in competition among the multinational compani
es to gain first mover advantage in}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0
\f1\charscalex100 {various developing countries by establishing goodwill relatio
nships with both the state and the}\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\
f1\charscalex100 {civil society is ample testimony to this transformation. Se
condly, in most of the emerging }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\
f1\charscalex100 {markets, the state still holds the key to business success bec
ause of the existence of trade and}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf
0\f1\charscalex100 {business regulations restricting the freedom of multinati
onal companies to incorporate their}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf
0\f1\charscalex100 {previously successful business doctrines which have been
tried and tested in the developed}\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\
f1\charscalex100 {nations. The state with its duty of protecting the interests o
f the general public would naturally be }\par\pard\li773\ri0\sl-280\slmult0 \fs2
2\cf0\f1\charscalex100 {inclined to give preference to companies which take care
of the interests of all the stakeholders. }\par\pard\li773\ri0\sl-280\slmult0 \
fs22\cf0\f1\charscalex100 {Thirdly, emerging markets have been identified as
a source of immense talent with the rising }\par\pard\li773\ri0\sl-266\slmul
t0 \fs24\cf0\f1\charscalex100 {levels of education. For example, the expertise o
f India in churning out software professionals}\par\pard\li773\ri0\sl-280\slmul
t0 \fs22\cf0\f1\charscalex100 {and China in manufacturing has now become interna
tionally renowned. In order to draw from }\par\pard\li773\ri0\sl-280\slmult0 \f
s24\cf0\f1\charscalex100 {this vast talent pool coming up in developing countr
ies, companies need to gain a foothold in}\par\pard\li773\ri0\sl-266\slmult0 \f
s24\cf0\f1\charscalex100 {these markets by establishing sound business practices
addressing social and cultural concerns of }\par\pard\li1666\ri0\sl-466\slmult0
\fs30\cf0\f1\charscalex100\b {Sri Krishna International Research & Educational
Consortium }\b0 \par\pard\li4106\ri0\sl-320\slmult0 \fs30\cf0\f1\charscalex100\b
{http://www.skirec.com }\b0 \par\pard\li5146\ri0\sl-320\slmult0 \fs30\cf0\f1\ch
arscalex100\b {-178-}\b0 \par\pard\sect\sectd\sbkpage

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ISSN 22294104 }\b0 \par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-453
\slmult0 \fs24\cf0\f1\charscalex100 {the people. It has been observed that cons
umers consider switching to another company's }\par\pard\li773\ri0\sl-280\slmu
lt0 \fs22\cf0\f1\charscalex100 {products and services, speak out against the com
pany to family/friends, refuse to invest in that }\par\pard\li773\ri0\sl-280\slm
ult0 \fs22\cf0\f1\charscalex100 {company's stock, refuse to work at the company
and boycott the company's products and services }\par\pard\li773\ri0\sl-266\slmu
lt0 \fs24\cf0\f1\charscalex100 {in case of negative corporate citizenship behavi
ours (Edenkamp, 2002). }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\l
i773\ri0\sl-346\slmult0 \fs24\cf0\f1\charscalex100 {Last but not the least, firm
s all over the world are beginning to grasp the importance }\par\pard\li773\ri0\
sl-266\slmult0 \fs24\cf0\f1\charscalex100 {of intangible assets, be it brand nam
e or employee morale. Only firms that have }\par\pard\li773\ri0\sl-280\slmult0 \
fs24\cf0\f1\charscalex100 {gained the goodwill of the general public and are ide
al corporate citizens will be to }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f
1\charscalex100 {develop these intangible assets into strategic advantages. }\pa
r\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs3
0\cf0\f1\charscalex100\b { Meaning Of The Term Corporate Social Responsibility }
\b0 \par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-373\slmul
t0 \fs24\cf0\f1\charscalex100 {Corporate Social Responsibility (CSR) is viewed
as a comprehensive set of policies, practices}\par\pard\li773\ri0\sl-280\slmu
lt0 \fs24\cf0\f1\charscalex100 {and programs that are integrated into business
operations, supply chains, and decision-making }\par\pard\li773\ri0\sl-280\sl
mult0 \fs24\cf0\f1\charscalex100 {processes throughout the organization }\fs24\c
f0\f1\charscalex100 {--}\fs24\cf0\f1\charscalex100 { wherever the organization d
oes business }\fs24\cf0\f1\charscalex100 {--}\fs24\cf0\f1\charscalex100 { and in
cludes}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {responsibi
lity for current and past actions as well as future impacts1. CSR involves addre
ssing}\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {the legal,
ethical, commercial and other expectations society has for business, and ma
king}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {decisions th
at fairly balance the claims of all key stakeholders. Effective CSR aims at \uc1
\u8220Xachieving }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100
{commercial success in ways that honor ethical values and respect people, commun
ities, and the}\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {na
tural environment.\uc1\u8221X Simply put it means \uc1\u8220Xwhat you do, how yo
u do it, and when and what you }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\
charscalex100 {say.\uc1\u8221X }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par
\pard\li773\ri0\sl-333\slmult0 \fs24\cf0\f1\charscalex100 {Several terms have b
een used interchangeably with CSR. They include }\fs24\cf0\f1\charscalex100 {
--}\fs24\cf0\f1\charscalex100 { business ethics, }\par\pard\li773\ri0\sl-280\sl
mult0 \fs24\cf0\f1\charscalex100 {corporate citizenship, corporate accountabilit
y, sustainability and corporate responsibility. }\par\pard\li773\ri0\sl-280\slmu
lt0 \fs24\cf0\f1\charscalex100 {The issues that represent an organization\uc1\u8
223Xs CSR focus vary by size (small, medium and large), }\par\pard\li773\ri0\sl280\slmult0 \fs24\cf0\f1\charscalex100 {sector (for example, financial institut
ions, infrastructure providers, textile manufacturers, agri-}\par\pard\li773\r
i0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {producers, supermarket retailers,
etc.) and even by geographic region. In its broadest categories,}\par\pard\li773

\ri0\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {CSR typically includes issues
related to business ethics, community investment, environment, }\par\pard\li7
73\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {governance, human rights, the
marketplace and the workplace. }\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\pa
r\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1666\ri0\sl-213\slmult0 \f
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scalex100\b {Sri Krishna International Research & Educational Consortium }\b0 \p
ar\pard\li4106\ri0\sl-320\slmult0 \fs30\cf0\f1\charscalex100\b {http://www.skire
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}}}}\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\margtsxn666\margbsxn26\pard
\li773\ri0\sl-373\slmult0 \fs30\cf0\f1\charscalex100\b {APJRBM
Volu
me 2, Issue 1 (JANUARY 2011)
ISSN 2229-4104 }\b0 \par\pard\li2866\ri
0\sl-213\slmult0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard
\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf
0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult
0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2866\ri0\sl213\slmult0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li28
18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2866\ri0\sl-213\s
lmult0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2866\ri
0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2866\ri0\sl213\slmult0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li28
lmult0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2866\ri
0 \fs18\cf0\par\pard\li2866\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li2866\ri0\sl386\slmult0 \fs24\cf0\f1\charscalex100\b {Figure 1: Areas of Corporate Social Re
sponsibility }\b0 \par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri
0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs24\cf0\f1\charsc
alex100 {World Business Council for Sustainable Development defines Corporate So
cial }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {Responsibi
lity (CSR) as \uc1\u8220XThe continuing commitment by business to behave e
thically and }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {co
ntribute to economic development while improving the quality of life of t
he workforce and }\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100
{their families as well as of the local community and society at large.\uc1\u82
21X }\par\pard\li840\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li840\ri0\sl-360\slmu
lt0 \fs30\cf0\f1\charscalex100\b {Need For CSR }\b0 \par\pard\li773\ri0\sl-213\s
lmult0 \fs18\cf0\par\pard\li773\ri0\sl-346\slmult0 \fs22\cf0\f1\charscalex100 {W

hile the interests of shareholders and the actions of managers of any business e
nterprise have }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {t
o be governed by the laws of economics, requiring an adequate financial return o
n investments}\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {mad
e, in reality the operations of an enterprise need to be driven by a muc
h larger set of }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {
objectives that are today being defined under the term CSR. The broad rationale
for a new set of }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\charscalex100
{ethics for corporate decision making, which clearly constructs and upholds
a organization's }\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100
{social responsibility, arises from the fact that a business enterprise derives
several benefits from}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscale
x100 {society, which must, therefore, require the enterprise to provide return
s to society as well. A }\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\pard
\li1666\ri0\sl-386\slmult0 \fs30\cf0\f1\charscalex100\b {Sri Krishna Internation
al Research & Educational Consortium }\b0 \par\pard\li4106\ri0\sl-320\slmult0 \f
s30\cf0\f1\charscalex100\b {http://www.skirec.com }\b0 \par\pard\li5146\ri0\sl-3
20\slmult0 \fs30\cf0\f1\charscalex100\b {-180-}\b0 \par\pard\sect\sectd\sbkpage
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0\b {APJRBM
\slmult0 \fs24\cf0\f1\charscalex100 {business cannot succeed in a society which
fails. This, therefore, clearly establishes the stake of a }\par\pard\li773\ri0\
sl-280\slmult0 \fs22\cf0\f1\charscalex100 {business organization in the good hea
lth and well being of a society of which it is a part. More }\par\pard\li773\ri0
\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {importantly, in this age of widespr
ead communication and growing emphasis on transparency,}\par\pard\li773\ri0\sl
-266\slmult0 \fs22\cf0\f1\charscalex100 {customers of any product or service are
unlikely to feel satisfied in buying from an organization }\par\pard\li773\ri0\
sl-280\slmult0 \fs22\cf0\f1\charscalex100 {that is seen to violate the expectati
ons of what is deemed to be ethically and socially responsible }\par\pard\li773\
ri0\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {behaviour. It is becoming increa
singly evident that organizations that pay genuine attention to }\par\pard\li7
73\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {the principles of socially res
ponsible behaviour are also finding favour with the public and are }\par\pard\li
773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {the preferred choice for thei
r goods and services. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li7
73\ri0\sl-426\slmult0 \fs30\cf0\f1\charscalex100\b {Why Do Organizations Pledge
Their Commitment Towards CSR? }\b0 \par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\
par\pard\li773\ri0\sl-386\slmult0 \fs24\cf0\f1\charscalex100 {In the recent yea

rs corporate business houses have substantially involved towards societal }\pa
r\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {responsibilities. C
ompanies have started to realise the importance of CSR and initiating the steps
}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {towards it. Toda
y, the objectives of the companies are not limited to profit maximisation, }
\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {economic gains o
r enhancing competencies but at the same time ensure environmental }\par\pard
\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {protection, promotion of
social responsibility including consumer interest. It will lead to good}\par
\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {public image which in
turn have positive impact on the wealth of the organisation. The reasons }\par\
pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {that motivate organisa
tions to involve in CSR activities are discussed as follows: }\par\pard\sect\sec
td\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\cols2\colno1\colw1493
\colsr-0\colno2\colw9946\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\
ri0\sl-346\slmult0 \fs24\cf0\f1\charscalex100 {1.}\par\pard\li773\ri0\sl-213\slm
ult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl
-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-466\slmult0 \fs22\cf0\f1\charscalex
100 {2.}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\s
lmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\
sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li
773\ri0\sl-306\slmult0 \fs22\cf0\f1\charscalex100 {3.}\par\pard\li773\ri0\sl-213
\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri
0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\
li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-320\slmult0 \fs22\cf0\f
1\charscalex100 {4.}\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\
ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\par
d\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0
\par\pard\li773\ri0\sl-306\slmult0 \fs22\cf0\f1\charscalex100 {5.}\par\pard\li77
3\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\p
ard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-466\slmult0 \fs22\c
f0\f1\charscalex100 {6.}\par\column\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pa
rd\li0\ri0\sl-346\slmult0 \fs24\cf0\f1\charscalex100 {Young blood in the organis
ation wants more than the financial benefit. They feel sense of }\par\pard\li0\r
i0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {pride to be connected with the or
ganisation which is socially responsible. Strong CSR }\par\pard\li0\ri0\sl-280
\slmult0 \fs24\cf0\f1\charscalex100 {practices can help in attracting, recruitin
g and retaining the best young talent. }\par\pard\li0\ri0\sl-213\slmult0 \fs18\c
f0\par\pard\li0\ri0\sl-346\slmult0 \fs24\cf0\f1\charscalex100 {Responsible compa
nies give greater priority to their customers. With diminishing }\par\pard\li0
\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {business boundaries across the w
orld consumers have become aware and more }\par\pard\li0\ri0\sl-280\slmult0 \f
s24\cf0\f1\charscalex100 {demanding in terms of information regarding conditi
ons in which the products and}\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\cha
rscalex100 {services are produced along with the sustainability impact thereof.
}\par\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-333\slmult0 \fs2
4\cf0\f1\charscalex100 {CSR is about values and accountability which includes th
e behaviour of the people. Many }\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\c
harscalex100 {potential clients who themselves operate CSR activities expect th
eir suppliers to do }\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100
{similar kind of programmes. Sometimes the selection is on the basis of soc
ial }\par\pard\li0\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {responsiveness
of the supplier. }\par\pard\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\s
l-346\slmult0 \fs24\cf0\f1\charscalex100 {Globalisation and universal expansion
of the economies enhances the consideration of }\par\pard\li0\ri0\sl-266\slmul
t0 \fs24\cf0\f1\charscalex100 {image and reputation among organisations. An orga
nisations image and reputation can be }\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf
0\f1\charscalex100 {ruined in days through unregulated and unethical practices.
So, imbibing CSR practices}\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\charsca
lex100 {becomes the strong foundation in image building. }\par\pard\li0\ri0\sl-2

13\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-333\slmult0 \fs24\cf0\f1\charscalex100
{Environment protection becomes an area of concern these days. A CSR programme t
hat }\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {aims to conser
ve earth's natural resources, avoiding pollution, water conservation and}\pa
r\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {minimising global warm
ing effects are the areas in which the companies take initiative. }\par\pard\li
0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-333\slmult0 \fs24\cf0\f1\char
scalex100 {Legislators are introducing regulations to force businesses to a
ct more responsibly }\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex10
0 {whether that is in regard to the environment, finance, health and safety, wel
lbeing or a }\par\pard\li0\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {variet
y of other areas. Corporations by taking substantive voluntary steps with respec
t to }\par\pard\li173\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li173\ri0\sl-213\slm
ult0 \fs18\cf0\par\pard\li173\ri0\sl-360\slmult0 \fs30\cf0\f1\charscalex100\b {S
ri Krishna International Research & Educational Consortium }\b0 \par\pard\li2613
\ri0\sl-320\slmult0 \fs30\cf0\f1\charscalex100\b {http://www.skirec.com }\b0 \pa
r\pard\li3653\ri0\sl-320\slmult0 \fs30\cf0\f1\charscalex100\b {-181-}\b0 \par\pa
rd\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\pard\sect\
sectd\sbkpage
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0\b {APJRBM
53\slmult0 \fs24\cf0\f1\charscalex100 {these issues can avoid government interv
ention when seen as a pioneer in these areas }\par\pard\li1493\ri0\sl-280\slmu
lt0 \fs24\cf0\f1\charscalex100 {rather than being forced by law to comply. }\par
\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\cols2\c
olno1\colw1493\colsr-0\colno2\colw9946\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\p
ar\pard\li773\ri0\sl-333\slmult0 \fs24\cf0\f1\charscalex100 {7.}\par\column\pard
\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-333\slmult0 \fs24\cf0\f1\c
harscalex100 {CSR practices can help the organisation to avoid the risk of cor
ruption scandals,}\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {e
nvironment disasters, child labour violations and dangerous work environment
. These }\par\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {incidents
also draw unwanted attention from regulators, courts, governments and media. }\p
ar\pard\li0\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {A genuine effort in
playing straight and having good CSR record with the right check }\par\pard\l
i0\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {insulates the companies from s
uch risks. }\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\mar
grsxn133\pard\li920\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li920\ri0\sl-213\slmul
t0 \fs18\cf0\par\pard\li920\ri0\sl-306\slmult0 \fs30\cf0\f1\charscalex100\b {KPM
G-CSR survey has presented a range of motivating factors and drivers }\b0 \par\p
ard\li2613\ri0\sl-333\slmult0 \fs30\cf0\f1\charscalex100\b {for CSR which are di
scussed in table 1 as below}\b0 \par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn1
5840\marglsxn666\margrsxn133\cols2\colno1\colw7053\colsr-0\colno2\colw4386\pard\
li3013\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li3013\ri0\sl-346\slmult0 \fs24\cf0
\f1\charscalex100\b {Drivers }\b0 \par\pard\li1133\ri0\sl-426\slmult0 \fs24\cf0\
f1\charscalex100 {Economic Considerations }\par\pard\li1133\ri0\sl-413\slmult0 \
fs24\cf0\f1\charscalex100 {Ethical Consideration }\par\pard\li1133\ri0\sl-426\sl
mult0 \fs24\cf0\f1\charscalex100 {Innovations and Learning }\par\pard\li1133\ri0
\sl-426\slmult0 \fs24\cf0\f1\charscalex100 {Employee Motivation }\par\pard\li113
3\ri0\sl-426\slmult0 \fs24\cf0\f1\charscalex100 {Risk Management or risk reducti
on }\par\pard\li1133\ri0\sl-426\slmult0 \fs24\cf0\f1\charscalex100 {Access to ca
pital or increased shareholder }\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f1
\charscalex100 {value }\par\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f1\charscal
ex100 {Reputation or brand }\par\pard\li1133\ri0\sl-426\slmult0 \fs24\cf0\f1\cha
rscalex100 {Market share improvement }\par\pard\li1133\ri0\sl-426\slmult0 \fs24\
cf0\f1\charscalex100 {Strengthened supplier relations }\par\pard\li1133\ri0\sl-4
26\slmult0 \fs24\cf0\f1\charscalex100 {Cost saving }\par\pard\li1133\ri0\sl-426\
slmult0 \fs24\cf0\f1\charscalex100 {Improved relationship with governmental}\par
\pard\li1133\ri0\sl-413\slmult0 \fs24\cf0\f1\charscalex100 {authorities }\par\pa

rd\li1133\ri0\sl-426\slmult0 \fs24\cf0\f1\charscalex100 {Others }\par\column\par
d\li0\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li0\ri0\sl-346\slmult0 \fs24\cf0\f1\
charscalex100\b {Priority in (%) }\b0 \par\pard\li653\ri0\sl-426\slmult0 \fs24\c
f0\f1\charscalex100 {74 }\par\pard\li653\ri0\sl-413\slmult0 \fs24\cf0\f1\charsca
lex100 {53 }\par\pard\li653\ri0\sl-426\slmult0 \fs24\cf0\f1\charscalex100 {53 }\
par\pard\li653\ri0\sl-426\slmult0 \fs24\cf0\f1\charscalex100 {47 }\par\pard\li65
3\ri0\sl-426\slmult0 \fs24\cf0\f1\charscalex100 {47 }\par\pard\li653\ri0\sl-426\
slmult0 \fs24\cf0\f1\charscalex100 {39 }\par\pard\li653\ri0\sl-213\slmult0 \fs18
\cf0\par\pard\li653\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li653\ri0\sl-400\slmul
t0 \fs24\cf0\f1\charscalex100 {27 }\par\pard\li653\ri0\sl-426\slmult0 \fs24\cf0\
f1\charscalex100 {21 }\par\pard\li653\ri0\sl-426\slmult0 \fs24\cf0\f1\charscalex
100 {13 }\par\pard\li706\ri0\sl-426\slmult0 \fs24\cf0\f1\charscalex100 {9 }\par\
pard\li706\ri0\sl-426\slmult0 \fs24\cf0\f1\charscalex100 {9 }\par\pard\li653\ri0
\sl-213\slmult0 \fs18\cf0\par\pard\li653\ri0\sl-213\slmult0 \fs18\cf0\par\pard\l
i653\ri0\sl-413\slmult0 \fs24\cf0\f1\charscalex100 {11 }\par\pard\sect\sectd\sbk
none\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\pard\li1306\ri0\sl-426\slmu
lt0 \fs24\cf0\f1\charscalex100\b {Source}\b0 \fs24\cf0\f1\charscalex100\b {: }\b
0 \fs24\cf0\f1\charscalex100\b {Data Taken From \uc1\u8211X KPMG International.
KPMG Surveys Of Corporate }\b0 \par\pard\li3880\ri0\sl-413\slmult0 \fs24\cf0\f1\
charscalex100\b {Responsibility Reporting 2005. }\b0 \par\pard\li773\ri0\sl-213\
slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0
\sl-506\slmult0 \fs30\cf0\f1\charscalex100\b {Historical Aspects }\b0 \fs30\cf0\
f1\charscalex100\b {Of }\b0 \fs30\cf0\f1\charscalex100\b {CSR In India }\b0 \par
\pard\li773\ri0\sl-440\slmult0 \fs24\cf0\f1\charscalex100 {Unlike western capita
lism, businesses in Asia are part of a social welfare philosophy embedded}\par\p
ard\li773\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {in corporate philanthro
py {\field{\*\fldinst{HYPERLINK "http://www.palgrave-journals.com/development/jo
urnal/v47/n3/full/1100057a.html#bib12#bib12"}}{\fldrslt {(Mohan, 2001). }}}Some
families from traditional merchant communities}\par\pard\li773\ri0\sl-280\slmult
0 \fs24\cf0\f1\charscalex100 {pioneered indigenous industrialization in India in
late 19th century and participated not only in }\par\pard\li773\ri0\sl-280\slmu
lt0 \fs24\cf0\f1\charscalex100 {freedom struggle but in the nation-building proc
ess thereafter (}\fs24\cf0\f1\charscalex100\i {ibid.}\i0 \fs24\cf0\f1\charscalex
100 {).}\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1666\ri0\sl-333
\slmult0 \fs30\cf0\f1\charscalex100\b {Sri Krishna International Research & Educ
ational Consortium }\b0 \par\pard\li4106\ri0\sl-320\slmult0 \fs30\cf0\f1\charsca
lex100\b {http://www.skirec.com }\b0 \par\pard\li5146\ri0\sl-320\slmult0 \fs30\c
f0\f1\charscalex100\b {-182-}\b0 \par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn
15840\marglsxn666\margrsxn133\pard\sect\sectd\sbkpage
7;32768}}
7;32768}}
7;32768}}
7;32768}}
0\b {APJRBM
\slmult0 \fs24\cf0\f1\charscalex100 {Preceding the independence of India, in 194
4, a set of concerned industrialists came out with a }\par\pard\li773\ri0\sl-280
\slmult0 \fs24\cf0\f1\charscalex100 {development plan for India called the Bomba
y Plan {\field{\*\fldinst{HYPERLINK "http://www.palgrave-journals.com/developmen
t/journal/v47/n3/full/1100057a.html#bib19#bib19"}}{\fldrslt {(Srinivasan and Ten
dulkar, 2003). }}}During}\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\charsca
lex100 {1950s/1960s, Narayan (cited in {\field{\*\fldinst{HYPERLINK "http://www.
palgrave-journals.com/development/journal/v47/n3/full/1100057a.html#bib10#bib10"
}}{\fldrslt {IIC, 1966) }}}stated, influenced by Gandhian philosophy of }\par\
pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {\uc1\u8222Xtrusteeship
\uc1\u8223X \uc1\u8211X an ancient idea revived and reinterpreted by Mahatam
a Gandhi \uc1\u8211X most of the}\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf
0\f1\charscalex100 {businessmen in India saw their business empires as a \uc1\u8
222Xtrust\uc1\u8223X held in the interest of community at }\par\pard\li773\ri0\s
l-280\slmult0 \fs24\cf0\f1\charscalex100 {large. Businesses made significant con
tributions to support schools, colleges and hospitals, and}\par\pard\li773\ri0\s
l-266\slmult0 \fs24\cf0\f1\charscalex100 {emphasis later shifted to supporting
technical training, public health and rural development}\par\pard\li773\ri0\s
l-280\slmult0 \fs22\cf0\f1\charscalex100 {{\field{\*\fldinst{HYPERLINK "http://w
ww.palgrave-journals.com/development/journal/v47/n3/full/1100057a.html#bib12#bib
12"}}{\fldrslt {(Mohan, 2001). }}}Also, post-independence, with a mixed economy
framework, India experienced }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\ch
arscalex100 {the elements of state-sponsored CSR activities through large public
sector companies. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\
ri0\sl-333\slmult0 \fs24\cf0\f1\charscalex100 {As the Indian economy moved from
agrarian to industrial, concerns were raised about the }\par\pard\li773\ri0\sl
-280\slmult0 \fs22\cf0\f1\charscalex100 {consequences of economic growth with an
innate tendency to be imbalanced {\field{\*\fldinst{HYPERLINK "http://www.palgr
ave-journals.com/development/journal/v47/n3/full/1100057a.html#bib12#bib12"}}{\f
ldrslt {(Mohan, 2001). }}}The }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\c
harscalex100 {importance of businesses\uc1\u8223X social responsibility to multi
-stakeholders was emphasized at a high-}\par\pard\li773\ri0\sl-266\slmult0 \fs24
\cf0\f1\charscalex100 {profile seminar in Delhi, and a declaration adopted sta
ted that social responsibility of an}\par\pard\li773\ri0\sl-280\slmult0 \fs24
\cf0\f1\charscalex100 {enterprise is responsible to itself, its customers, worke
rs, shareholders and the community {\field{\*\fldinst{HYPERLINK "http://www.palg
rave-journals.com/development/journal/v47/n3/full/1100057a.html#bib10#bib10"}}{\
fldrslt {(IIC,}}}}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100
{{\field{\*\fldinst{HYPERLINK "http://www.palgrave-journals.com/development/jour
nal/v47/n3/full/1100057a.html#bib10#bib10"}}{\fldrslt {1966}\fs24\cf0\f1\charsca
lex100 {).}\fs24\cf0\f1\charscalex100 {}}} }\par\pard\li773\ri0\sl-213\slmult0 \
fs18\cf0\par\pard\li773\ri0\sl-333\slmult0 \fs24\cf0\f1\charscalex100 {The emer
gence of non-family-owned businesses in 1960s and 1970s also saw an increase
in }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {numbers of \u
c1\u8222Xtrusts\uc1\u8223X setup by businesses {\field{\*\fldinst{HYPERLINK "htt
p://www.palgrave-journals.com/development/journal/v47/n3/full/1100057a.html#bib1
2#bib12"}}{\fldrslt {(Mohan, 2001). }}}Changes in India's economic paradigm in}\
par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {1990s significantl
y affected the corporate sector, bringing freedom from controls and increased }\
par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {roles. {\field{\*\
fldinst{HYPERLINK "http://www.palgrave-journals.com/development/journal/v47/n3/f
ull/1100057a.html#bib18#bib18"}}{\fldrslt {Shrivastava and Venkateswaran (2000)
}}}state that most corporations agree that this}\par\pard\li773\ri0\sl-280\
slmult0 \fs24\cf0\f1\charscalex100 {newfound freedom carries with it social resp
onsibilities. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\s
l-386\slmult0 \fs30\cf0\f1\charscalex100\b {CSR in India }\b0 \par\pard\li773\ri
0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-333\slmult0 \fs24\cf0\f1\charsc
alex100 {To}\fs24\cf0\f1\charscalex100 {day, the world is coming round full circ

le in emphasizing this concept through an articulation}\par\pard\li773\ri0\sl-28
0\slmult0 \fs24\cf0\f1\charscalex100 {of the principle of social responsibility
of business and industry. And this trend is no different in}\par\pard\li773\ri0\
sl-280\slmult0 \fs24\cf0\f1\charscalex100 {India either. Mahatma Gandhi, the cha
rismatic visionary leader who brought the cause of India's }\par\pard\li773\ri0\
sl-266\slmult0 \fs24\cf0\f1\charscalex100 {independence from British colonial ru
le, was a person who in several respects was ahead of his }\par\pard\li773\ri0\s
l-280\slmult0 \fs24\cf0\f1\charscalex100 {time. His view of the ownership of cap
ital was one of trusteeship, motivated by the belief that}\par\pard\li773\ri0\sl
-280\slmult0 \fs24\cf0\f1\charscalex100 {essentially society was providing capit
alists with an opportunity to manage resources that should}\par\pard\li773\ri0\s
l-266\slmult0 \fs24\cf0\f1\charscalex100 {really be seen as a form of trusteeshi
p on behalf of society in general. }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0
\f1\charscalex100 {In June 2008, a survey was carried out by TNS India (a rese
arch organization) and the Times }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f
1\charscalex100 {Foundation with the aim of providing an understanding of the ro
le of corporations in CSR. The }\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\
charscalex100 {findings revealed that over 90 per cent of all major Indian organ
izations surveyed were involved }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1
\charscalex100 {in CSR initiatives. In fact, the private sector was more involve
d in CSR activities than the public }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf
0\f1\charscalex100 {and government sectors. The leading areas that corporati
ons were involved in were livelihood }\par\pard\li773\ri0\sl-280\slmult0 \fs24
\cf0\f1\charscalex100 {promotion, education, health, environment, and women's em
powerment. Most of CSR ventures }\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1
\charscalex100 {were done as internal projects while a small proportion were
as direct financial support to }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\
f1\charscalex100 {voluntary organizations or communities. }\par\pard\li773\ri0\
sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs30\cf0\f1\charscal
ex100\b {Some Surveys In India }\b0 \par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0
\par\pard\li773\ri0\sl-386\slmult0 \fs24\cf0\f1\charscalex100 {In the past few y
ears, some surveys have been conducted in India by different organizations to }\
par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {understand the per
ception of CSR among companies and their different stakeholders, and to}\par
\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {define the drivers
and barriers of CSR in India. Some of the prominent surveys include }\par\
pard\li1666\ri0\sl-506\slmult0 \fs30\cf0\f1\charscalex100\b {Sri Krishna Interna
tional Research & Educational Consortium }\b0 \par\pard\li4106\ri0\sl-320\slmult
0 \fs30\cf0\f1\charscalex100\b {http://www.skirec.com }\b0 \par\pard\li5146\ri0\
sl-320\slmult0 \fs30\cf0\f1\charscalex100\b {-183-}\b0 \par\pard\sect\sectd\sbkp
age
7;32768}}

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Volu
ISSN 2229-4104 }\b0 \par\pard\li773\ri0
\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-453\slmult0 \fs24\cf0\f1\charsca
lex100 {\uc1\u8222XCorporate Involvement in Social Development in India\uc1\u822
3X in the year 1996-1997 by Partners in}\par\pard\li773\ri0\sl-280\slmult0 \fs24
\cf0\f1\charscalex100 {Change (PiC), \uc1\u8222XAltered Images: the 2001 State o
f Corporate Responsibility in India Poll\uc1\u8223X by Tata }\par\pard\li773\ri0
\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {Energy Research Institute (TERI),
\uc1\u8222XCorporate Social Responsibility: Perceptions of Indian }\par\pard\
li773\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {Business\uc1\u8223X by Cen
tre for Social Markets (CSM), and \uc1\u8222XCorporate Social Responsibility
Survey, }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {2002 \
uc1\u8211X India\uc1\u8223X presented jointly by the British Council, UNDP, Conf
ederation of Indian Industries}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\c
harscalex100 {and Price Waterhouse Coopers (PWC). }\par\pard\li773\ri0\sl-213\sl
mult0 \fs18\cf0\par\pard\li773\ri0\sl-333\slmult0 \fs22\cf0\f1\charscalex100 {In
another survey conducted by {\field{\*\fldinst{HYPERLINK "http://www.palgrav
e-journals.com/development/journal/v47/n3/full/1100057a.html#bib13#bib13"}}{\fld
rslt {Partners in Change (2004) }}}from a sample of 536 companies }\par\pa
rd\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {across India reveal that
philanthropy is the most significant driver (64 per cent) of CSR, followed }\pa
r\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {by image building
(42 per cent), employee morale (30 per cent) and ethics (30 per cent) }\par\p
ard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {respectively. The 2004
survey findings present a marked increase in the number of companies }\par\par
d\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {developing and adopting
CSR policy as against the earlier findings in 1999 and 2000. At the}\par\par
d\li773\ri0\sl-280\slmult0 \*\tx5133\fs22\cf0\f1\charscalex100 {same time, the s
urvey also shows that the}\tab \fs22\cf0\f1\charscalex100\i {initiator}\i0 \fs2
2\cf0\f1\charscalex100 { of a policy across types of companies is }\par\pa
rd\li773\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {largely the CEO, except
in the case of public sector undertakings where the government policies }\par\pa
rd\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {determine the need to de
velop a CSR policy{\field{\*\fldinst{HYPERLINK "http://www.palgrave-journals.com
/development/journal/v47/n3/full/1100057a.html#bib7#bib7"}}{\fldrslt { (Ghosh, 2
003}\fs24\cf0\f1\charscalex100 {).}\fs24\cf0\f1\charscalex100 {}}} }\par\pard\li
\pard\li773\ri0\sl-453\slmult0 \fs30\cf0\f1\charscalex100\b {Current Status Of C
SR In India }\b0 \par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0
\sl-373\slmult0 \fs24\cf0\f1\charscalex100 {CSR is not a new concept in India. C
orporates like the Tata Group, the Aditya Birla Group, and}\par\pard\li773\ri0\s
l-280\slmult0 \fs22\cf0\f1\charscalex100 {Indian Oil Corporation, to name a few,
have been involved in serving the community ever since }\par\pard\li773\ri0\sl280\slmult0 \fs22\cf0\f1\charscalex100 {their inception. Many other organizatio
ns have been doing their part for the society through }\par\pard\li773\ri0\sl266\slmult0 \fs22\cf0\f1\charscalex100 {donations and charity events. Today, C
SR in India has gone beyond merely charity and }\par\pard\li773\ri0\sl-280\s
lmult0 \fs24\cf0\f1\charscalex100 {donations, and is approached in a more organi
zed fashion. It has become an integral part of the}\par\pard\li773\ri0\sl-280\sl
mult0 \fs22\cf0\f1\charscalex100 {corporate strategy. Companies have CSR teams t
hat devise specific policies, strategies and goals }\par\pard\li773\ri0\sl-280\s
lmult0 \fs24\cf0\f1\charscalex100 {for their CSR programs and set aside budgets
to support them. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri
0\sl-333\slmult0 \fs22\cf0\f1\charscalex100 {These programs, in many cases, are
based on a clearly defined social philosophy or are closely }\par\pard\li773\ri0
\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {aligned with the companies\uc1\u8223
X business expertise. Employees become the backbone of these }\par\pard\li773
\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {initiatives and volunteer their
time and contribute their skills, to implement them. CSR Programs}\par\pard\li77
3\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {could range from overall deve
lopment of a community to supporting specific causes like }\par\pard\li773\
ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {education, environment, healthcar
e etc. }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {Best prac
tices followed by Indian Companies related to CSR are as follows: }\par\pard\li1
493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-346\slmult0 \fs24\cf0\f1
\charscalex100 {ONGC and Indian Oil Corporation has been spending 0.75-1 % of
their net profits on}\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscale
x100 {CSR activities. In 2007-08 Rs. 246.70 crores was spent by oil PSUs on CSR
activities. }\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {ONG
C\uc1\u8223Xs CSR projects focus on higher education, grant of scholarship a
nd aid to}\par\pard\li1493\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {deser
ving young pupils of less privileged sections of society, facilities for co
nstructing }\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {scho
ols etc. }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-3
60\slmult0 \fs24\cf0\f1\charscalex100 {SAIL has taken successful actions in envi
ronment conservation, health and medical care, }\par\pard\li1493\ri0\sl-266\slmu
lt0 \fs24\cf0\f1\charscalex100 {education, women upliftment providing drinking w
ater. }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-360\
slmult0 \fs24\cf0\f1\charscalex100 {BHEL & Indian Airlines have been acclaime
d for disaster management efforts. BHEL}\par\pard\li1493\ri0\sl-280\slmult0 \f
s24\cf0\f1\charscalex100 {has also adopted 56 villages having nearly 80,000 inha
bitants. }\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1666\ri0\sl213\slmult0 \fs18\cf0\par\pard\li1666\ri0\sl-346\slmult0 \fs30\cf0\f1\charscalex
100\b {Sri Krishna International Research & Educational Consortium }\b0 \par\par
d\li4106\ri0\sl-320\slmult0 \fs30\cf0\f1\charscalex100\b {http://www.skirec.com
}\b0 \par\pard\li5146\ri0\sl-320\slmult0 \fs30\cf0\f1\charscalex100\b {-184-}\b0
\par\pard\sect\sectd\sbkpage

7;32768}}
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Volu
ISSN 2229-4104 }\b0 \par\pard\li1493\ri
\li1493\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {Reliance Industries init
iated a project named as \uc1\u8220X Project- Drishti\uc1\u8221X to bring b
ack the }\par\pard\li1493\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {eyesigh
t of visually challenged Indians from the economically weaker sections of t
he }\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {society. Thi
s project has brightened up the lives of over 5000 people so far. }\par\pard\li1
493\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-360\slmult0 \fs22\cf0\f1
\charscalex100 {Mahindra & Mahindra launched a unique kind of ESOPs- Empl
oyee Social Option in }\par\pard\li1493\ri0\sl-266\slmult0 \fs22\cf0\f1\charsca
lex100 {order to enable Mahindra employees to involve themselves in socially
responsible }\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {act
ivities of their choice. }\par\pard\li1493\ri0\sl-213\slmult0 \fs18\cf0\par\par
d\li1493\ri0\sl-360\slmult0 \fs24\cf0\f1\charscalex100 {GlaxoSmithKline Pharmace
uticals\uc1\u8223X CSR programs primarily focus on health and healthy }\par\pard
\li1493\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {living. They work in trib
al villages where they provide medical check-up and treatment, }\par\pard\li1493
\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {health camps and health awarenes
s programs. They also provide money, medicines and}\par\pard\li1493\ri0\sl-280\s
lmult0 \fs24\cf0\f1\charscalex100 {equipment to non-profit organizations that wo
rk towards improving health and education}\par\pard\li1493\ri0\sl-266\slmult0 \f
s24\cf0\f1\charscalex100 {in under-served communities. }\par\pard\li1493\ri0\sl213\slmult0 \fs18\cf0\par\pard\li1493\ri0\sl-360\slmult0 \fs24\cf0\f1\charscalex
100 {Bajaj Electricals Ltd corporate social responsibility activities include
Education, Rural}\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100
{Development & Environment. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pa
rd\li773\ri0\sl-386\slmult0 \fs30\cf0\f1\charscalex100\b {Challenges }\b0 \fs30\
cf0\f1\charscalex100\b {Of }\b0 \fs30\cf0\f1\charscalex100\b {CSR }\b0 \par\pard
\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs24\cf0\
f1\charscalex100 {There are number of challenges to the implementation of CSR. T
hey are enumerated below: }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard
\li773\ri0\sl-373\slmult0 \fs30\cf0\f1\charscalex100 {\uc1\u8226X}{ }\fs30\cf0\f
1\charscalex100\b {Lack Of Awareness Of General Public In CSR Activities }\b0 \p
ar\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs
24\cf0\f1\charscalex100 {There is a lack of interest of the general public in pa
rticipating and contributing to CSR activities}\par\pard\li773\ri0\sl-280\slmult
0 \fs24\cf0\f1\charscalex100 {of companies. This is because of the fact that the
re exists little or no knowledge about CSR. The }\par\pard\li773\ri0\sl-280\slmu
lt0 \fs24\cf0\f1\charscalex100 {situation is further aggravated by a lack of com
munication between the companies involved in}\par\pard\li773\ri0\sl-266\slmult0
\fs24\cf0\f1\charscalex100 {CSR and the general public at the grassroots. }\par\
pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs30\
cf0\f1\charscalex100 {\uc1\u8226X}{ }\fs30\cf0\f1\charscalex100\b {Need To Build
Local Capacities }\b0 \par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li7
73\ri0\sl-386\slmult0 \fs24\cf0\f1\charscalex100 {There is a need for capacit
y building of the local non governmental organisations as there is}\par\par
d\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {serious dearth of trained
and efficient organisations that can effectively contribute to the ongoing }\pa
r\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {CSR activities initi
ated by companies. This seriously compromises scaling up of CSR initiatives }\pa
r\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {and subsequently lim
its the scope of such activities. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\
par\pard\li773\ri0\sl-386\slmult0 \fs30\cf0\f1\charscalex100 {\uc1\u8226X}{ }\fs
30\cf0\f1\charscalex100\b {Issues Of Transparency }\b0 \par\pard\li773\ri0\sl-21

{Lack of transparency is one of the key challenge for the corporate as
there exists lack of }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscale
x100 {transparency on the part of the small companies as they do not make adequa
te efforts to disclose }\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscal
ex100 {information on their programmes, audit issues, impact assessment and util
isation of funds. This}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscale
x100 {negatively impacts the process of trust building among the companies which
is key to the success }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscal
ex100 {of any CSR initiative. }\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par
lmult0 \fs30\cf0\f1\charscalex100\b {Sri Krishna International Research & Educat
ional Consortium }\b0 \par\pard\li4106\ri0\sl-320\slmult0 \fs30\cf0\f1\charscale
x100\b {http://www.skirec.com }\b0 \par\pard\li5146\ri0\sl-320\slmult0 \fs30\cf0
\f1\charscalex100\b {-185-}\b0 \par\pard\sect\sectd\sbkpage
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7;32768}}
0\b {APJRBM
\slmult0 \fs30\cf0\f1\charscalex100 {\uc1\u8226X}{ }\fs30\cf0\f1\charscalex100\b
{Non-Availability Of Well Organised Non-Governmental Organizations }\b0 \par\pa
rd\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs24\cf
0\f1\charscalex100 {There is non-availability of well organised non governmental
organisations in remote and rural }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0
\f1\charscalex100 {areas that can assess and identify real needs of the communit
y and work along with companies to}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\
f1\charscalex100 {ensure successful implementation of CSR activities. }\par\pard
\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-373\slmult0 \fs30\cf0\
f1\charscalex100 {\uc1\u8226X}\fs30\cf0\f1\charscalex100\b { Visibility Factor }
\b0 \par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-400\slmul
t0 \fs22\cf0\f1\charscalex100 {The role of media in highlighting good case
s of successful CSR initiatives is welcomed as it }\par\pard\li773\ri0\sl-266
\slmult0 \fs22\cf0\f1\charscalex100 {spreads good stories and sensitises the po
pulation about various ongoing CSR initiatives of }\par\pard\li773\ri0\sl-280\
slmult0 \fs22\cf0\f1\charscalex100 {companies. This apparent influence of gainin
g visibility and branding exercise often leads many }\par\pard\li773\ri0\sl-280\
slmult0 \fs22\cf0\f1\charscalex100 {non-governmental organisations to involve th
emselves in event-based programmes; in the }\par\pard\li773\ri0\sl-266\slmult0
\fs24\cf0\f1\charscalex100 {process, they often miss out on meaningful grassroot
s interventions. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri

0\sl-386\slmult0 \fs30\cf0\f1\charscalex100 {\uc1\u8226X}{ }\fs30\cf0\f1\charsca
lex100\b {Narrow Perception Towards CSR Initiatives}\b0 \par\pard\li773\ri0\sl-2
0 {Non-governmental organisations and Government agencies usually possess a na
rrow outlook}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {towa
rds the CSR initiatives of companies, often defining CSR initiatives more as don
or-driven.}\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {As a r
esult, corporates find it hard to decide whether they should participate in such
activities at}\par\pard\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {al
l in medium and long run. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard
\li773\ri0\sl-386\slmult0 \fs30\cf0\f1\charscalex100 {\uc1\u8226X}{ }\fs30\cf0\f
1\charscalex100\b {Non-Availability Of Clear CSR Guidelines }\b0 \par\pard\li773
\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-333\slmult0 \fs22\cf0\f1\cha
rscalex100 {There are no clear cut statutory guidelines or policy directives to
give a definitive direction to }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f
1\charscalex100 {CSR initiatives of companies. The scale of CSR initiative
s of companies should depend upon }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0
\f1\charscalex100 {their business size and profile. In other words, the bigger
the company, the larger its CSR }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\
f1\charscalex100 {programme. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\p
ard\li773\ri0\sl-373\slmult0 \fs30\cf0\f1\charscalex100 {\uc1\u8226X}{ }\fs30\cf
0\f1\charscalex100\b {Lack Of Consensus On Implementing CSR Issues }\b0 \par\par
d\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs24\cf0
\f1\charscalex100 {There is a lack of consensus amongst implementing agencies re
garding CSR projects. This lack}\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\
charscalex100 {of consensus often results in duplication of activities by cor
porate houses in areas of their }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f
1\charscalex100 {intervention. This results in a competitive spirit between imp
lementing agencies rather than }\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f1
\charscalex100 {building collaborative approaches on issues. This factor limits
company\uc1\u8223Xs abilities to undertake }\par\pard\li773\ri0\sl-280\slmult0 \
fs24\cf0\f1\charscalex100 {impact assessment of their initiatives from time to t
ime. }\par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li773\ri0\sl-213\slm
ult0 \fs18\cf0\par\pard\li773\ri0\sl-453\slmult0 \fs30\cf0\f1\charscalex100\b {C
onclusion Of The Study }\b0 \par\pard\li773\ri0\sl-213\slmult0 \fs18\cf0\par\par
d\li773\ri0\sl-333\slmult0 \fs24\cf0\f1\charscalex100 {Even though companies are
taking serious efforts for the sustained development, some critics}\par\pard
\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {still are questioning t
he concept of CSR. There are people who claim that Corporate Social}\par\pa
rd\li773\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100 {Responsibility underlies
some ulterior motives while others consider it as a myth. The reality is}\par\p
ard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {that CSR is not a tac
tic for brand building; however, it creates an internal brand among its }\pa
r\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\charscalex100 {employees. Indulging
into activities that help society in one way or the other only adds to the }\p
ar\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {goodwill of a co
mpany. Corporate Social Responsibility is the duty of everyone i.e. busines
s }\par\pard\li1666\ri0\sl-466\slmult0 \fs30\cf0\f1\charscalex100\b {Sri Krishna
International Research & Educational Consortium }\b0 \par\pard\li4106\ri0\sl-32
0\slmult0 \fs30\cf0\f1\charscalex100\b {http://www.skirec.com }\b0 \par\pard\li5
146\ri0\sl-320\slmult0 \fs30\cf0\f1\charscalex100\b {-186-}\b0 \par\pard\sect\se
ctd\sbkpage

7;32768}}
7;32768}}
7;32768}}

7;32768}}
0\b {APJRBM
\slmult0 \fs24\cf0\f1\charscalex100 {corporations, governments, individuals beca
use of the reasons: the income is earned only from}\par\pard\li773\ri0\sl-280\sl
mult0 \fs24\cf0\f1\charscalex100 {the society and therefore it should be given b
ack; thus wealth is meant for use by self and the }\par\pard\li773\ri0\sl-280\sl
mult0 \fs22\cf0\f1\charscalex100 {public; the basic motive behind all types of b
usiness is to quench the hunger of the mankind as a }\par\pard\li773\ri0\sl-266\
slmult0 \fs24\cf0\f1\charscalex100 {whole; the fundamental objective of all busi
ness is only to help people. }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf0\f1\c
harscalex100 {CSR cannot be an additional extra - it must run into the core of e
very business\uc1\u8223X ethics, and its }\par\pard\li773\ri0\sl-280\slmult0 \fs
24\cf0\f1\charscalex100 {treatment of employees and customers. Thus, CSR is b
ecoming a fast-developing and}\par\pard\li773\ri0\sl-266\slmult0 \fs22\cf0\f1\
charscalex100 {increasingly competitive field. The case for demonstrating c
orporate responsibility is getting }\par\pard\li773\ri0\sl-280\slmult0 \fs22\cf
0\f1\charscalex100 {stronger as expectations among key opinion formers, custo
mers and the public are increasing. }\par\pard\li773\ri0\sl-280\slmult0 \fs22\
cf0\f1\charscalex100 {Being a good corporate citizen is increasingly crucial for
commercial success and the key lies in }\par\pard\li773\ri0\sl-266\slmult0 \fs2
2\cf0\f1\charscalex100 {matching public expectations and priorities, and in com
municating involvement and }\par\pard\li773\ri0\sl-280\slmult0 \fs24\cf0\f1\cha
rscalex100 {achievements widely and effectively. }\par\pard\li773\ri0\sl-213\slm
ult0 \fs18\cf0\par\pard\li773\ri0\sl-386\slmult0 \fs30\cf0\f1\charscalex100\b {S
uggested Readings }\b0 \par\pard\li1133\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li
1133\ri0\sl-386\slmult0 \*\tx1493\fs24\cf0\f1\charscalex100 {1.}\tab \fs24\cf0\f
1\charscalex100 {Ghosh J. (2003) \uc1\u8222XStrategy for Development\uc1\u8223X,
Frontline Vol. 20, No, 18, India. }\par\pard\li1133\ri0\sl-280\slmult0 \*\tx14
93\fs22\cf0\f1\charscalex100 {2.}\tab \fs22\cf0\f1\charscalex100 {Goyal S.K. (19
96) \uc1\u8222XPolitical Economy of India\uc1\u8223Xs Economic Reforms\uc1\u8223
X, Working Paper of }\par\pard\li1493\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex
100 {the Institute for Studies in Industrial Development (ISID), New Delhi, Indi
a. }\par\pard\li1133\ri0\sl-280\slmult0 \*\tx1493\fs22\cf0\f1\charscalex100 {3.
}\tab \fs22\cf0\f1\charscalex100 {IIC (1966) Social Responsibilities of Busine
ss, New Delhi, India: India International }\par\pard\li1493\ri0\sl-280\slmult0
\fs24\cf0\f1\charscalex100 {Centre }\par\pard\li1133\ri0\sl-266\slmult0 \*\tx149
3\fs22\cf0\f1\charscalex100 {4.}\tab \fs22\cf0\f1\charscalex100 {Srinivasan T.N.
and S.D. Tendulkar (2003) \uc1\u8222XReintegrating India with the World }\par
\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {Economy\uc1\u8223X.
Washington, D.C.: Institute for International Economics. }\par\pard\li1133\ri0\
sl-280\slmult0 \*\tx1493\fs22\cf0\f1\charscalex100 {5.}\tab \fs22\cf0\f1\charsca
lex100 {Corporate Social Responsibility \uc1\u8211X Perceptions of Indian Bus
iness. Available }\par\pard\li1493\ri0\sl-266\slmult0 \fs24\cf0\f1\charscalex100
{a{\field{\*\fldinst{HYPERLINK "http://www.csmworld.org/public/pdf/social_respo
ns.pdf"}}{\fldrslt {t:www.csmworld.org/public/pdf/social_respons.pdf }}}}\par\pa
rd\li1133\ri0\sl-280\slmult0 \*\tx1493\fs24\cf0\f1\charscalex100 {6.}\tab \fs24\
cf0\f1\charscalex100 {Why Corporate Social Responsibility? The European Business

Campaign. Available at: }\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\chars
calex100 {{\field{\*\fldinst{HYPERLINK "http://www.csrcampaign.org/why/default.a
spx"}}{\fldrslt {http://www.csrcampaign.org/why/default.aspx }}}}\par\pard\li113
3\ri0\sl-280\slmult0 \*\tx1493\fs24\cf0\f1\charscalex100 {7.}\tab \fs24\cf0\f1\c
harscalex100 {The business case for CSR. The Gateway to Corporate Social Re
sponsibility Website }\par\pard\li1493\ri0\sl-266\slmult0 \fs24\cf0\f1\charscal
ex100 {(UK). Available at:{\field{\*\fldinst{HYPERLINK "http://www.societyandbus
iness.gov.uk/businesscasecsr.shtml"}}{\fldrslt { http://www.societyandbusiness.g
ov.uk/businesscasecsr.shtml }}}}\par\pard\li1133\ri0\sl-280\slmult0 \*\tx1493\*\
tx3280\*\tx5773\*\tx6640\*\tx9893\fs24\cf0\f1\charscalex100 {8.}\tab \fs24\cf0\f
1\charscalex100 {The business}\tab \fs24\cf0\f1\charscalex100 {case for corpo
rate}\tab \fs24\cf0\f1\charscalex100 {social}\tab \fs24\cf0\f1\charscalex100 {re
sponsibility \uc1\u8211X Available}\tab \fs24\cf0\f1\charscalex100 {at: }\par\
pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {{\field{\*\fldinst{HY
PERLINK "http://www.weforum.org/site/homepublic.nsf/Content/The+business+case+fo
r+corporate+social+responsibility"}}{\fldrslt {http://www.weforum.org/site/homep
ublic.nsf/Content/The+business+case+for+corporate}}}}\par\pard\li1493\ri0\sl-266
\slmult0 \fs24\cf0\f1\charscalex100 {{\field{\*\fldinst{HYPERLINK "http://www.we
forum.org/site/homepublic.nsf/Content/The+business+case+for+corporate+social+res
ponsibility"}}{\fldrslt {+social+responsibility }}}}\par\pard\sect\sectd\sbknone
\pgwsxn12240\pghsxn15840\marglsxn666\margrsxn133\cols5\colno1\colw5106\colsr-0\c
olno2\colw2320\colsr-0\colno3\colw1080\colsr-0\colno4\colw1386\colsr-0\colno5\co
lw1546\pard\li1133\ri0\sl-280\slmult0 \*\tx1493\*\tx2320\*\tx3226\fs24\cf0\f1\ch
arscalex100 {9.}\tab \fs24\cf0\f1\charscalex100 {Our }\tab \fs24\cf0\f1\charscal
ex100 {CSR }\tab \fs24\cf0\f1\charscalex100 {Achievements,}\par\column\pard\li0\
ri0\sl-280\slmult0 \*\tx1533\fs24\cf0\f1\charscalex100 {Challenges }\tab \fs24\c
f0\f1\charscalex100 {and}\par\column\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\ch
arscalex100 {Goals.}\par\column\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\charsca
lex100 {Available}\par\column\pard\li0\ri0\sl-280\slmult0 \fs24\cf0\f1\charscale
x100 {at: }\par\pard\sect\sectd\sbknone\pgwsxn12240\pghsxn15840\marglsxn666\marg
rsxn133\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {{\field{\*\fl
dinst{HYPERLINK "http://www.firstgroup.com/corpfirst/pdf2004/CSR%20ACHIEVE_CHALL
ENGE_GOALS.pdf"}}{\fldrslt {http://www.firstgroup.com/corpfirst/pdf2004/CSR%20AC
HIEVE_CHALLENGE_GOA}}}}\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscal
ex100 {{\field{\*\fldinst{HYPERLINK "http://www.firstgroup.com/corpfirst/pdf2004
/CSR%20ACHIEVE_CHALLENGE_GOALS.pdf"}}{\fldrslt {LS.pdf }}}}\par\pard\li1133\ri0\
sl-266\slmult0 \fs24\cf0\f1\charscalex100 {10.}{ }\fs24\cf0\f1\charscalex100 {Co
rporation Social Responsibility - Putting the Words into Action. Available a
t: }\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {http://www.n
atural- resources.org/minerals/csr/docs/csr/Sir%20Robert%20Wilson%20-}\par\pard
\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\charscalex100 {%20CSR%20-%20speech%20161
001.pdf }\par\pard\li1133\ri0\sl-266\slmult0 \fs22\cf0\f1\charscalex100 {11.}{ }
\fs22\cf0\f1\charscalex100 {Behind the mask - The real face of corporate soc
ial responsibility. Available at: }\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf
0\f1\charscalex100 {http://www.christian-aid.org.uk/indepth/0401csr/csr_behindth
emask.pdf (accessed May }\par\pard\li1493\ri0\sl-280\slmult0 \fs24\cf0\f1\chars
calex100 {9, 2005) }\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li166
6\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\
pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1666\ri0\sl-213\slmult0 \fs1
8\cf0\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1666\ri0\sl-213\sl
mult0 \fs18\cf0\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\pard\li1666\ri0
\sl-213\slmult0 \fs18\cf0\par\pard\li1666\ri0\sl-213\slmult0 \fs18\cf0\par\pard\
li1666\ri0\sl-346\slmult0 \fs30\cf0\f1\charscalex100\b {Sri Krishna Internationa
l Research & Educational Consortium }\b0 \par\pard\li4106\ri0\sl-320\slmult0 \fs
30\cf0\f1\charscalex100\b {http://www.skirec.com }\b0 \par\pard\li5146\ri0\sl-32
0\slmult0 \fs30\cf0\f1\charscalex100\b {-187-}\b0}

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