EXECUTIVE SUMMARY
Although
the subject “Corporate Social Responsibility” in its present form and content
has gained popular attention only in recent years, its origin can be traced
back to the evolution of the concept of a welfare state As the pace of
industrialization quickened employers became more and more concerned with the
loss of productivity efficiency due to avoidable sickness or accidents or
stoppage of work due to bad personal relationships. respect to human . The frame work of a welfare state and with
it the concept of social responsibility have thus come to stay in many
countries of the world.
The
changing image of business in the recent years has lent further support to the
idea of social responsibility. Some public opinion polls in the 1960’s and
1970’s in United States have left businessman disenchanted. These polls have
revealed that the businessman is viewed as an individual who does not cares for
others, who ignored social problems, who preys upon the population, who
exploits labor, and who is a selfish money grabber. On the other hand, until
these opinions were unveiled, the businessman in America believed that others
viewed him as he viewed himself, as a practical, down-to-earth, hardworking,
broadminded, progressive, interesting and a competitive free enterpriser. He
believed that the society looked up at him as a self sacrificing community
leader, pillar of society, generous to a fault, great supporter of education, patron
of the arts, in short, the salt of the earth. Indeed, the businessman in the
pre-poll days thought of himself as a happy mix of Plato, Gandhi, and
Churchill.
INTRODUCTION
WHAT IS
CORPORATE SOCIAL RESPONSIBILITY?
Corporate
social responsibility (CSR, also called corporate conscience, corporate
citizenship, social performance, or sustainable responsible business) is a form
of corporate self-regulation integrated into a business model. CSR policy
functions as a built-in, self-regulating mechanism whereby business monitors
and ensures its active compliance with the spirit of the law, ethical
standards, and international norms. The goal of CSR is to embrace
responsibility for the company's actions and encourage a positive impact
through its activities on the environment, consumers, employees, communities,
stakeholders and all other members of the public sphere. Furthermore,
CSR-focused businesses would proactively promote the public interest by
encouraging community growth and development, and voluntarily eliminating
practices that harm the public sphere, regardless of legality. CSR is the
deliberate inclusion of public interest into corporate decision-making that is
the core business of the company or firm, and the honoring of a triple bottom
line: people, planet, profit.
The term
"corporate social responsibility" came in to common use in the late
1960s and early 1970s, after many multinational corporations formed. The term
stakeholder, meaning those on whom an organization's activities have an impact,
was used to describe corporate owners beyond shareholders as a result of an
influential book by R. Edward Freeman, Strategic management: a stakeholder
approach in 1984.[2] Proponents argue that corporations make more long term
profits by operating with a perspective, while critics argue that CSR distracts
from the economic role of businesses. Others argue CSR is merely
window-dressing, or an attempt to pre-empt the role of governments as a
watchdog over powerful multinational corporations.
Importance of CSR
CSR
is an important business strategy because, wherever possible, consumers want to
buy products from companies they trust; suppliers want to form business
partnerships with companies they can rely on; employees want to work for
companies they respect; and NGOs, increasingly, want to work together with
companies seeking feasible solutions and innovations in areas of common
concern. Satisfying each of these stakeholder groups allows companies to
maximize their commitment to another important stakeholder group—their
investors, who benefit most when the needs of these other stakeholder groups
are being met:
I
honestly believe that the winning companies of this century will be those
who
prove with their actions that they can be profitable and increase social
value—companies that both do well and do good….Increasingly, shareowners,
customers, partners and employees are going to vote with their feet—rewarding
those companies that fuel social change through business. This is simply the
new reality of business—one that we should and must embrace.
ETHICS
Ethics, also known
as moral philosophy, is a branch of philosophy that addresses questions about
morality—that is, concepts such as good and evil, right and wrong, virtue and
vice, justice, etc.
Major branches of
ethics include:
Meta-ethics, about the theoretical meaning and reference of moral propositions and
how their truth-values (if any) may be determined;
Normative ethics, about the practical means of determining a moral
course of action;
Applied ethics, about how moral outcomes can be achieved in specific situations;
Moral psychology, about how moral capacity or moral agency develops
and what its nature is;
Descriptive ethics, about what moral
values people actually abide by.
Within each of
these branches are many different schools of thought and still further
sub-fields of study.
BUSINESS ETHICS
Business ethics
(also known as corporate ethics) is a form of applied ethics or professional
ethics that examines ethical principles and moral or ethical problems that
arise in a business environment. It applies to all aspects of business conduct
and is relevant to the conduct of individuals and entire organizations.
Business ethics has
both normative and descriptive dimensions. As a corporate practice and a career
specialization, the field is primarily normative. Academics attempting to
understand business behavior employ descriptive methods. The range and quantity
of business ethical issues reflects the interaction of profit-maximizing behavior
with non-economic concerns. Interest in business ethics accelerated
dramatically during the 1980s and 1990s, both within major corporations and
within academia. For example, today most major corporations promote their
commitment to non-economic values under headings such as ethics codes and
social responsibility charters. Adam Smith said, "People of the same trade
seldom meet together, even for merriment and diversion, but the conversation
ends in a conspiracy against the public, or in some contrivance to raise
prices. Governments use laws and regulations to point business behavior in what
they perceive to be beneficial directions. Ethics implicitly regulates areas
and details of behavior that lie beyond governmental control. The emergence of
large corporations with limited relationships and sensitivity to the
communities in which they operate accelerated the development of formal ethics
regimes.
Although the subject “Corporate Social
Responsibility” in its present form and content has gained popular attention
only in recent years, its origin can be traced back to the evolution of the
concept of a welfare state As the pace of industrialization quickened employers
became more and more concerned with the loss of productivity efficiency due to
avoidable sickness or accidents or stoppage of work due to bad personal
relationships. respect to human . The frame work of a welfare state and with
it the concept of social responsibility have thus come to stay in many
countries of the world.
The changing image of business in the recent
years has lent further support to the idea of social responsibility. Some
public opinion polls in the 1960’s and 1970’s in United States have left
businessman disenchanted. These polls have revealed that the businessman is
viewed as an individual who does not cares for others, who ignored social
problems, who preys upon the population, who exploits labor, and who is a
selfish money grabber. On the other hand, until these opinions were unveiled,
the businessman in America believed that others viewed him as he viewed
himself, as a practical, down-to-earth, hardworking, broadminded, progressive,
interesting and a competitive free enterpriser. He believed that the society
looked up at him as a self sacrificing community leader, pillar of society,
generous to a fault, great supporter of education, patron of the arts, in
short, the salt of the earth. Indeed, the businessman in the pre-poll days
thought of himself as a happy mix of Plato, Gandhi, and Churchill.
IS CSR OR ETHICS ACCELERATE OR HINDER BUSINESS GROWTH
Even
though companies are taking serious efforts for the sustained development, some
critics still are questioning the concept of CSR. There are people who claim
that Corporate Social Responsibility underlies some ulterior motives while
others consider it as a mere tool of advertisement. Is CSR really a stalking
horse for an anti-corporate agenda? The reality is that CSR is not a tactic for
brand building; however, it creates an internal brand among its employees.
Indulging into activities that help society in one way or the other only adds
to the goodwill of a company moreover it must not be treated as a tool of accelarate as many of
Indian majors are performing c.s.r activities which are not related to their
core working area. As for instance MAHINDRA group has initiated NANHI KALI
foundation for girl education while they deal in Automobiles and also hotel
major and cigarettes manufacturing company I.T.C has its core business area as
tobaccos and hotel industry while they run E chaupals that provide self
employment to villagers, making them connect to internet and helping them to
sell their crops in international markets.
C.S.R is the important aspect which nowadays
companies are performing. It helps in not only building of company but also
individual, as company performs CSR for social purpose.
Carly
Fiorina
Chairman
and Chief Executive Officer
Hewlett
Packard Company
The businesses most likely to succeed in the
globalizing world will be those best able to combine the often conflicting
interests of its multiple stakeholders, and incorporate a wider spectrum of
opinions and values within the decision-making process and objectives of the
organization. Lifestyle brand firms, in particular, need to live the ideals
they convey to their consumers:
CSR is increasingly crucial to maintaining
success in business—by providing a corporate strategy around which the company
can rally, but also by giving meaning and direction to day to day operations.
CSR in Today’s World
CSR
as a strategy is becoming increasingly important for businesses today because
of three identifiable trends:• Changing social expectations
Consumers and society in general expect more
from the companies whose products they buy. This sense has increased in the
light of recent corporate scandals, which reduced public trust of corporations,
and reduced public confidence in the ability of regulatory bodies and organizations
to control corporate excess.
• Increasing affluence
This is true within developed nations, but
also in comparison to developing nations. Affluent consumers can afford to pick
and choose the products they buy. A society in need of work and inward investment
is less likely to enforce strict regulations and penalize organizations that
might take their business and money elsewhere.
• Globalization
The growing influence of the media sees any
‘mistakes’ by companies brought immediately to the attention of the public. In
addition, the Internet fuels communication among like-minded groups and
consumers—empowering them to spread their message, while giving them the means
to co-ordinate collective action (i.e. a product boycott).
These three trends combine with the growing
importance of brands and brand value to corporate success (particularly
lifestyle brands) to produce a shift in the relationship between corporation
and consumer, in particular, and between corporation and all stakeholder
groups, in general.
The result of this mix is that consumers
today are better informed and feel more empowered to put their beliefs into
action. From the corporate point of view, the market parameters within which
companies must operate are increasingly being shaped by bottom-up, grassroots
campaigns. NGOs and consumer activists are feeding, and often driving, this
changing relationship between consumer and company.
CSR is particularly important within a
globalizing world because of the way brands are built—on perceptions, ideals
and concepts that usually appeal to higher values. CSR is a means of matching
corporate operations with stakeholder values and demands, at a time when these
values and demands are constantly evolving.
CSR can therefore best be described as a
total approach to business. CSR creeps into all aspects of operations. Like
quality, it is something that you know when you see it. It is something that
businesses today should be genuinely and wholeheartedly committed to. The
dangers of ignoring CSR are too dangerous when it is remembered how important
brands are to overall company value; how difficult it is to build brand
strength; yet how easy it can be to lose brand dominance.
CSR is, therefore, also something that a
company should try and get right in implementation.
Implementing CSR
CSR
is about common sense policies that represent a means of integrating a complete
‘social perspective’ into all aspects of operations. The goal is to maximize
true value and benefit for an organization, while protecting the huge
investments corporations make today in their brands.
CSR asks companies to ensure their business
operations are clean and equitable, and contribute positively to the society in
which they are based. Otherwise, they leave themselves open to too much danger
from a potential consumer backlash.
CSR is good business sense, and a total
approach to doing business, in a globalizing world where companies are
increasingly relying on brand strength (particularly global lifestyle brands)
to add value and product differentiation, and where NGO-driven consumer
activism is increasing.
Many believe the issue of how corporations
integrate CSR into everyday operations and long-term strategic planning will
define the business marketplace in the near future. It will become a key point
of brand differentiation, both in terms of corporate entities and the products
that carry their brands.
Key steps on the road to integrating CSR
within all aspects of operations include:
• Ensure the
commitment of top management, and particularly the CEO, is communicated
throughout the organization
• Appoint a
CSR position at the strategic decision-making level to manage the development
of policy and its implementation
• Develop
relationships with all stakeholder groups and interests (particular relevant
NGOs)
•
Incorporate a Social or CSR Audit within the company’s annual report
• Ensure the
compensation system within the organization reinforces the CSR policies that
have been created, rather than merely the bottom-line
• Any
anonymous feedback/whistle-blower process, ideally overseen by an external
ombudsperson, will allow the CSR Officer to operate more effectively
Corporations today are best positioned when
they reflect the values of the constantly shifting and sensitive market environment
in which they operate. It is vital that they are capable of meeting the needs
of an increasingly demanding and socially-aware consumer market, especially as
brands move front and center of a firm’s total value. Global firms with global
lifestyle brands have the most to lose if the public perception of the brand
fails to live up to the image portrayed.
Integrating a complete ‘social perspective’
into all aspects of operations will maximize true value and benefit for an
organization, while protecting the huge investments companies make in corporate
brands.
Arguments of CSR
Arguments
offered in favor of CSR can be broadly split into two camps—moral and economic.
1. A
moral argument for CSR
While recognizing that profits are necessary
for any business entity to exist, all groups in society should strive to add
value and make life better. Businesses rely on the society within which they
operate and could not exist or prosper in isolation. They need the
infrastructure that society provides, its source of employees, not to mention
its consumer base. CSR is recognition of that inter-dependence and a means of
delivering on that obligation, to the mutual benefit of businesses and the
societies within which they are based:
CSR broadly represents the relationship between
a company and the wider community within which the company operates. It is
recognition on the part of the business that ‘for profit’ entities do not exist
in a vacuum, and that a large part of any success they enjoy is as much due to
the context in which they operate as factors internal to the company alone.
Charles Handy makes a convincing and logical
argument for the purpose of a business laying beyond the goals of maximizing
profit and satisfying shareholders above all other stakeholders in an organization:
The purpose of a business is not to make a
profit, full stop. It is to make a profit so that the business can do something
more or better. That “something” becomes the real justification for the
business….It is a moral issue. To mistake the means for the end is to be turned
in on oneself, which Saint Augustine called one of the greatest sins….It is
salutary to ask about any organization, “If it did not exist, would we invent
it?” Only if it could do something
better or more useful than anyone else” would have to be the answer, and profit
would be the means to that larger end.
Advocates of CSR believe that, in general,
the goal of any economic system should be to further the general social
welfare. In advanced economies, the purpose of business should extend beyond
the maximization of efficiency and profit. Increasingly, society expects
businesses to have an obligation to the society in which they are located, to
the people they employ, and their customers, beyond their traditional
bottom-line and narrow shareholder concerns.
At a minimum, businesses operating in a
community benefit from the infrastructure of that community (tangible,
practical elements such as the roads, other transport infrastructure, the
police, firefighters, etc) as well as more intangible benefits, such as a safe
or clean environment.
But, in most cases, businesses also draw
their most important resource, its employees, largely from the local community.
Any business will be more successful if it employs a well-educated workforce
that can attend good hospitals if they become sick, and who have grown up in a
positive environment. This is not to mention consumers, also often members of
the local community, without whom no business could survive.
CSR advocates point out that no organization
exists in isolation. They believe that businesses, without exception, have an
obligation to contribute as well as draw from the community, on which they rely
so heavily.
2. An
economic argument for CSR
An economic argument in favor of CSR can also
be made. It is an argument of economic self-interest that there are very real
economic benefits to businesses pursuing a CSR strategy—and is designed to
persuade those business managers who are not persuaded by the moral case.
Proponents of this argument believe that CSR represents an holistic approach to
business.
Therefore, an effective CSR policy will
infuse all aspects of operations. They believe the actions corporations take
today to incorporate CSR throughout the organization represent a real point of
differentiation and competitive market advantage on which future success can
hinge:
CSR is an argument of economic self-interest
for a business. In today’s brand-driven markets, CSR is a means of matching corporate
operations with stakeholder values and demands, at a time when these parameters
can change rapidly. One example is a company’s customers: CSR adds value
because it allows companies to better reflect the values of this important
constituent base that the company aims to serve.
CSR covers all aspects of a business’
day-to-day operations. Everything an organization does in some way interacts
with one or more of its stakeholder groups, and companies today need to build a
watertight brand with respect to all stakeholders. Whether as an employer,
producer, buyer, supplier, or investment, the attractiveness and success of a
company today is directly linked to the strength of its brand.
CSR affects all aspects of all operations
within a corporation because of the need to consider the needs of all
constituent groups. Each area builds on all the others to create a composite of
the corporation (its brand) in the eyes of all stakeholder groups.
3. Arguments against corporate social
responsibility
If the arguments for a socially responsible
approach were widely accepted, nobody would even using the label
"CSR" because everyone would be doing it. Those of us who spend our
time marshalling the case for would do well to spend a little time hearing the
case against, and considering what should be the response.
Of course, one of the challenges in
considering cases "for" and "against" CSR is the wide
variety of definitions of CSR that people use. We assume here we are talking
about responsibility in how the company carries out its core function - not
simply about companies giving money away to charity.
Below are some of the key arguments most
often used against CSR and some responses.
- Businesses are owned by their shareholders - money spent on CSR by managers is theft of the rightful property of the owners
- The leading companies who report on their social responsibility are basket cases - the most effective business leaders don't waste time with this stuff
- Our company is too busy surviving hard times to do this. We can't afford to take our eye off the ball - we have to focus on core business
- It's the responsibility of the politicians to deal with all this stuff. It's not our role to get involved
- I have no time for this. I've got to get out and sell more to make our profit line.
- Corporations don't really care - they're just out to screw the poor and the environment to make their obscene profits
OVERVIEW OF C.S.R IN INDIA
Corporate
social responsibility is not a new concept in India. However, what is new is
the shift in focus from making profits to meeting societal challenges.
Now-a-days, employees are actively participating in the social activities even
on holidays. This is mainly because employees feel a sense of pride when they
are involved in such activities. Moreover, companies are having dedicated
departments for CSR.
Giving
a universal definition of Corporate Social Responsibility is bit difficult as
there is no common definition as such. However, there are few common threads
that connect all the perspectives of CSR with each other; the dedication to
serve the society being most important of them. Most ideal definition of
Corporate Social Responsibility (CSR) has been given by World Business Council
for Sustained Development which says, “Corporate Social Responsibility is 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 of the local community and society at large”.
Thus,
the meaning of CSR is two fold. On one hand, it exhibits the ethical behavior
that an organization exhibits towards its internal and external stakeholders
(customers as well as employees). On the other hand, it denotes the
responsibility of an organization towards the environment and society in which
it operates.
Firms
can no longer continue to exploit environmental resources and escape from their
responsibility by acting as separate entities regardless of the interest of the
society. Organizations, now, are realizing the need to shift their focus on the
interest of society. The sense of being socially responsible has to come from
within. CSR involves various voluntary efforts in which companies engage
themselves in order to give something back to the society. It involves
providing innovative solutions to societal and environmental challenges.
Organizations generally believe that acting in a socially responsible manner
will create value for them. The fact that an organization is committed to
social causes, also gives employees a sense that the company would also be
committed to the welfare of its employees as well.
In
India, CSR has evolved to encompass employees, customers, stakeholders and
sustainable development or corporate citizenship. The spectrum of CSR includes
a number of areas as human rights, safety at work, consumer protection, climate
protection and caring for the environment, and sustainable management of natural
resources. From the perspective of employees, CSR activities include providing
health and safety measures, preserving employee rights and discouraging
discrimination at workplace. This helps in fostering a healthy environment
within the company. For example, after 1945, TATA implemented social welfare
provisions for its employees that have since become the legislative norm. From
the perspectives of customers, CRS activities may include commitment to product
quality, fair pricing policies, and so.
CSR
taken up by various genres of companies primarily focuses on poverty
alleviation, environmental protection and sustained development. Companies are
taking initiatives for developing infrastructure in rural areas, e.g., TATA
Motors provides desks, benches, chairs, tables cupboards, electrical fittings
and educational and sports material to various primary schools in Singur. The
company has also planned similar programmes to upgrade school infrastructure
and is also planning to set up a computer laboratory in one of the high
schools. Similarly, TVS Electronics was involved in CSR during the Tsunami to
provide relief measures to the victims. They have also participated with the
government to improve sanitation in a village called Tiruvidenthai. Such
initiatives will help in improving the conditions of rural people. Satyam
Foundation of Satyam Computer Services Ltd., Infosys Foundation of Infosys
Technologies Ltd., GE Foundation of the General Electric Company are exemplary
instances of the philanthropic commitment of the corporate sector in India.
Irrespective of the profits they make, these foundations are aiming at
uplifting of the poor and enhancing the standard of life in the rural sector.
Corporate
social responsibility offers manifold benefits both internally and externally
to the companies involved in various projects. Externally, it creates a
positive image amongst the people for its company and earns a special respect
amongst its peers. It creates short term employment opportunities by taking
various projects like construction of parks, schools, etc. Working with keeping
in view the interests of local community bring a wide range of business
benefits. For example, for many businesses, local customers are an important
source of sales. By improving the reputation, one may find it easier to recruit
employees and retain them. Businesses have a wider impact on the environment
also. Plantation and cultivation activities taken up by Intel India are a step
towards the same. Recycling used products also acts as a step towards
minimizing wastes.
Internally,
it cultivates a sense of loyalty and trust amongst the employees in the
organizational ethics. It improves operational efficiency of the company and is
often accompanied by increases in quality and productivity. More importantly,
it serves as a soothing diversion from the routine workplace practices and
gives a feeling of satisfaction and a meaning to their lives. Employees feel
more motivated and thus, are more productive. Apart from this, CSR helps ensure
that the organization comply with regulatory requirements.
SOME MAJOR CSR ACTIVIES IN INDIA
ITC E-CHOPAL
A
powerful illustration of corporate strategy linking business purpose to larger
societal purpose, e-Choupal leverages the Internet to empower small and marginal
farmers – who constitute a majority of the 75% of the population below the
poverty line.
By
providing them with farming know-how and services, timely and relevant weather
information, transparent price discovery and access to wider markets, e-Choupal
enabled economic capacity to proliferate at the base of the rural economy.
Today 4
million farmers use e-Choupal to advantage – bargaining as virtual buyers’
co-operatives, adopting best practices, matching up to food safety norms. Being
linked to futures markets is helping small farmers to better manage risk.
e-Choupal has been specially cited in the Government of India’s Economic Survey
of 2006-07, for its transformational impact on rural lives.
ITC’s
strategic intent is to develop e-Choupal as a significant two-way
multidimensional delivery channel, efficiently carrying goods and services out
of and into rural India. By progressively linking the digital infrastructure to
a physical network of rural business hubs and agro-extension services, ITC is transforming
the way farmers do business, and the way rural markets work.
“NANHI KALI” BY M&M GROUP
Project
Nanhi Kali was initiated in 1996 by K C
Mahindra Education Trust (KCMET) with an objective of providing education to the underprivileged girl child
in India.
In 2005
KCMET entered into a partnership with Naandi Foundation, a reputed NGO, to jointly
manage the programme. Through this partnership the two not for profit
organizations aim to extend 10 years of quality education to the under
privileged girl children.
Nanhi
Kali has successfully evolved over the years into a national girl child sponsorship
programme, which supports the education of girl children by providing not only
academic support but also direct material support in the form of uniforms,
clothes, note books etc
Nanhi
Kali is a participatory project where individuals, groups and corporates are
encouraged to sponsor the education of a girl child for a minimum period of one
year. To become a guardian of a Nanhi Kali, the cost is only USD 65 (for girls
studying in Grade 1 – 7) and USD 85 (for girls studying in Grade 8-10) per girl
child, per annum.
The
Nanhi Kali project is working with 25 NGO implementation partners at the
grassroot level to ensure that the girls receive academic and material support.
The K. C. Mahindra Education Trust regularly monitors the NGOs giving technical
inputs where ever required to ensure that quality education is being imparted
to all the Nanhi Kali’s.
Sponsors
receive a profile of the girl along with her photograph followed by regular
Progress Reports, so that they can track the academic progress of their sponsored
child. The project currently supports the education of over 44,000
underprivileged girl children and aims to reach out to 1,00,000 girl children
by 2008.
CISCO System Inc.
Philanthropy
at Cisco is about building strong and productive global communities -
communities in which every individual has the means to live, the opportunity to
learn, and the chance to give back. The company pursues a strong “triple bottom
line” which is described as profits, people and presence. The company promotes
a culture of charitable giving and connects employees to nonprofit
organizations serving the communities where they live. Cisco invests its
best-in-class networking equipment to those nonprofit organizations that best
put it to work for their communities, eventuating in positive global impact. It
takes its responsibility seriously as a global citizen. Education is a top
corporate priority for Cisco, as it is the key to prosperity and opportunity.
ICICI Bank Ltd
The
Social Initiatives Group (SIG) of ICICI Bank Ltd works with a mission to build
the capacities of the poorest of the poor to participate in the larger economy.
The group identifies and supports initiatives designed to break the
intergenerational cycle of poor health and nutrition, ensure essential early childhood
education and schooling as well as access to basic financial services.Thus, by
promoting early child health, catalyzing universal elementary education and
maximizing access to micro financial services, ICICI Bank believes that it can
build the capacities of India’s poor to participate in larger socio-economic
processes and thereby spur the overall development of the country. The SIG
works by understanding the status of existing systems of service delivery and
identifying critical knowledge and practice gaps in their functioning. It
locates cost effective and scalable initiatives and approaches that have the
potential to address these gaps and supports research to understand their
impact. This is undertakenin collaboration with research agencies, nongovernmental
organisations (NGOs), companies, government departments, local stakeholders and
international organisations.
Infosys Technologies Limited
Infosys
is actively involved in various community development programs.Infosys
promoted, in 1996, the Infosys Foundation as a not-for-profit trust to which it
contributes up to 1%PAT every year. Additionally, the Education and
ResearchDepartment (E&R) at Infosys also works with employee volunteers on
community development projects. Infosys leadership has set examples in the area
of corporate citizenship and has involved itself actively in key national
bodies. They have taken initiatives to work in the areas of Research and
Education, Community Service,Rural Reach Programme, Employment, Welfare
activities undertaken by the Infosys Foundation, Healthcare for the poor,
Education and Arts & Culture.
Tata Consultancy Services
The
Adult Literacy Program (ALP) was conceived and set up by Dr. F C Kohli along
with Prof. P N Murthy and Prof. Kesav Nori of Tata Consultancy Services in May
2000 to address the problem of illiteracy. ALP believes illiteracy is a major
social concern affecting a third of the Indian population comprising old and
young adults. To accelerate the rate of learning, it uses a TCS-designed Computer–Based
Functional Literacy Method (CBFL), an innovative teaching strategy that uses
multimedia software to teach adults to read within about 40 learning hours.
OBJECTIVE OF STUDY
The main objective of the study is to
evaluate the impact of CSR activities on business growth. Main purpose of this study is to remove the illusion of considering CSR
as accelerate tool through showing core working area of ITC and MAHINDRA which
is different from their CSR activity. The study has aim to cover following objectives
1. Defining what is corporate social
responsibility or ethics.
2. To study is CSR or ethics accelerate or
hinder business growth.
3. To study the limitation of CSR activities.
SCOPE
OF STUDY
The scope of C.S.R extends beyond the mere,
the image of organization in the minds of your customer.
·
It also includes the perception held by key
stakeholder active and passive potential recruits, clients, customers and
others in the marketplace.
·
CSR
acts as a catalyst in making crucial decisions about one’s career.
·
Successful ethics aligns employees on a
holistic and philosophical level, bringing convergence on values, culture, and
vision.
·
Retaining the brand’s core values, key
messages such as a great workplace, high potential for career growth, superior
learning curve and more must emerge.
·
This study is useful in understanding the psychology of ethics
operating within and across the organizations
·
This study is helpful in harnessing the ideas & opportunities
of customer.
·
This project will help us to overcome the
different disadvantages & challenges of c.s.r.
·
This study will help in providing training to
the employees according to the organizational approach.
·
This study will help in managing the
ethos among the employees
·
This study will help in promoting the diverse
workforce & maintain the retention of employees.
RESEARCH METHODOLOGY
What is Research?
Research is a process of collecting, analyzing,
interpreting and summarizing in a significant manner for the purpose of framing
out necessary conclusion and finding of data perceived and formulated for
deriving out the meaningful information. To carry our research necessary
telephonic calls needed to be done, suitable appointment were to be fixed and
therefore market survey is to be followed. Here my objective of this training
is a study towards Behavior of retailers and consumers with respect of Brand
image of PCs of different companies.
Methodology:
-
Methodology or process involving in the research followed during the course of
training is as follows
a)
Collection of data: - this is an important aspect in
formulating the objective of research process where the data is collected via
two process; Primary sources and Secondary Sources.
1)
Primary sources: where the data is collected primarily by interviewing and
personal observation and is original in nature and accurate to the considerable
extent.
2)
Secondary sources: where the data is obtained from some published and printed
sources such as newspaper, magazines, websites and so on.
b)
Analyzing of collected data: - the data collected
through Secondary data and published sources are then processed to obtained
necessary inferences and finding for the purpose of achieving the objective as
well as to derive
necessary conclusion. A considerable skills and knowledge is
involved in analyzing the data for the purpose of interpreting thereof.
c)
Interpreting of data: - it is the significant step where the
data collected and analyzed is interpreted in the forms of graphs and figures
is depicted in the report called project report.
d)
Summarizing of data: - Thereby necessary summary is prepared
which is essential in the project report.
Descriptive
Research:
It
attempts to describe systematically a situation, problem, phenomenon, service
or program or provide information about the living condition of community or
describe the attitude towards an issue. It answered the question who bought
where, when and how.
E.g.:
It may attempt to describe the type of service provided by an organization, the
administrative structure of an organization, the need of community (customer)
or the attitude of employee towards management. Although the data description
is factual, accurate and systematic the research cannot describe the cause
effect relationship. Often the best approach prior to writing descriptive
research is to conduct a survey investigation. The aim of description and
researcher may follow up with examination of why the observation is existing
and what the implication of the findings.
The
data for the study will be collected by using primary data. The data is
collected by using primary and secondary data. The data is collected by using
various kind of sources.
From
these findings, similarities and differences are considered and conclusions
drawn about the applicability or non applicability of some of the major theories of employer
branding in an organization..
Secondary data
collection:-
·
From HR journal like Vikalp and HR reviews
·
From already published magazines
·
From different websites
·
Published data regarding to various companies
·
Data regarding regulatory norms and standards
·
Secondary data will be collected through
extensive literature survey and sources will include newspaper, internet,
magazines, books, reports etc.
Type of research:- Descriptive research
Descriptive
research, also known as statistical research, describes data and
characteristics about the population or phenomenon being studied. Descriptive
research answers the questions who, what, where, when and how.
Although
the data description is factual, accurate and systematic, the research cannot
describe what caused a situation. Thus, descriptive research cannot be used to
create a casual relationship, where one variable affects another. In other
words, descriptive research can be said to have a low requirement for interval
validity.
The
description is used for frequencies, averages and other statistical
calculations. Often the best approach, prior to writing descriptive research,
is to conduct a survey investigation. Qualitative research often has aim of
description and researchers may follow up with examination of why the
observations exist and what the implications of the findings are.
In
short descriptive research deals with everything that can be counted and
studied. But there are always restrictions to that. Tour research must have an
impact to the lives of the people around you. For example, findings the most
frequent disease that affects the children of a town. The reader of the
research will know what to do prevent that disease thus; more people will live
a healthy life.
The
main goal of this type of research is to describe the data and characteristics
about what is being studied. The idea behind this type of research is to study
frequencies, averages, and other statistical calculations. Although this
research is highly accurate, it does not gather the causes behind situations.
Descriptive
research is mainly done when a research wants to gain a better understanding of
a topic for example, a frozen ready meals company learns that there is a
growing demand for fresh ready meals but doesn’t know much about the area of
fresh food and so has to carry out research in order gain a better
understanding. It is quantitative and usage surveys and panels and also the use
of probability sampling.
REVIEW OF LITERATURE
ETHICS AND CSR: Do they accelerate or hinder
business growth.
Article
Details
Pub.
Date : September, 2007
Product
Name : HRM REVIEW
Product
Type : BUSINESS ETHICS
Product
Code : HRMBT10709
Author
Name : Rashmi Joshi
Abstract
Business
ethics and Corporate Social Responsibility (CSR) are essential in a business.
Business decisions have many influences that can stretch beyond an office. In
this case, the notion of CSR provides a direction for a business to relate with
these dimensions and take a note of its social impact. It can contribute
towards trust-building through various social initiatives. This article shows
how business ethics and CSR are not an attack on the profits but a firm step
towards generating it.
Description
Some of
the early thinkers, like John Ruskin and Leo Tolstoy, stressed that
"honesty" and "integrity" have to be a part of not only
merchants' activities but also of other professions. This is more relevant in
today's world and is widely acknowledged by all successful businesses globally
and is termed as "ethics in business". As a result, "ethics in
business" as well as the Corporate Social Responsibility (CSR) have become
emergent areas in management studies. Presently, corporate are expected to have
an ethical basis on which they conduct their business.
Business
ethics are moral principles and standards in a business and are often
responsible for holding back companies from looking after only the interest of
the shareholders and their profits at the cost of all other considerations. On
the other hand, integrity refers to "self-imposed values", adopted by
organizations that are focused on establishing a code of conduct for
decision-making. Integrity and ethics are both important for international and
global business. RT De George, a distinguished Professor of Philosophy and
Business Administration at the University of Kansas, has observed that a
company's reputation is one of its key assets and opines that "reputation
is a result of continuous ethical action and of an ethical corporate
culture". But, many times companies resort to unethical behavior driven by
varied "compulsions", prominent among which are discussed in the
following section.
CORE STUDY
I.T.C
(INDIAN TOBACOO CORPORATION)
ITC is
one of India's foremost private sector companies with a market capitalisation
of over US $ 22 billion and a turnover of over US $ 5 billion.* ITC is rated
among the World's Best Big Companies, Asia's 'Fab 50' and the World's Most
Reputable Companies by Forbes magazine, among India's Most Respected Companies
by BusinessWorld and among India's Most Valuable Companies by Business Today.
ITC ranks among India's `10 Most Valuable (Company) Brands', in a study
conducted by Brand Finance and published by the Economic Times. ITC also ranks
among Asia's 50 best performing companies compiled by Business Week.
ITC has
a diversified presence in Cigarettes, Hotels, Paperboards & Specialty
Papers, Packaging, Agri-Business, Packaged Foods & Confectionery,
Information Technology, Branded Apparel, Personal Care, Stationery, Safety
Matches and other FMCG products. While ITC is an outstanding market leader in
its traditional businesses of Cigarettes, Hotels, Paperboards, Packaging and
Agri-Exports, it is rapidly gaining market share even in its nascent businesses
of Packaged Foods & Confectionery, Branded Apparel, Personal Care and
Stationery.
As one
of India's most valuable and respected corporations, ITC is widely perceived to
be dedicatedly nation-oriented. Chairman Y C Deveshwar calls this source of
inspiration "a commitment beyond the market". In his own words:
"ITC believes that its aspiration to create enduring value for the nation
provides the motive force to sustain growing shareholder value. ITC practices
this philosophy by not only driving each of its businesses towards
international competitiveness but by also consciously contributing to enhancing
the competitiveness of the larger value chain of which it is a part."
ITC's
diversified status originates from its corporate strategy aimed at creating
multiple drivers of growth anchored on its time-tested core competencies:
unmatched distribution reach, superior brand-building capabilities, effective
supply chain management and acknowledged service skills in hoteliering. Over
time, the strategic forays into new businesses are expected to garner a
significant share of these emerging high-growth markets in India.
ITC's
Agri-Business is one of India's largest exporters of agricultural products. ITC
is one of the country's biggest foreign exchange earners (US $ 3.2 billion in
the last decade). The Company's 'e-Choupal' initiative is enabling Indian
agriculture significantly enhance its competitiveness by empowering Indian
farmers through the power of the Internet. This transformational strategy,
which has already become the subject matter of a case study at Harvard Business
School, is expected to progressively create for ITC a huge rural distribution
infrastructure, significantly enhancing the Company's marketing reach.
ITC's
wholly owned Information Technology subsidiary, ITC InfoTech India Ltd,
provides IT services and solutions to leading global customers. ITC InfoTech
has carved a niche for itself by addressing customer challenges through
innovative IT solutions.
ITC's
production facilities and hotels have won numerous national and international
awards for quality, productivity, safety and environment management systems.
ITC was the first company in India to voluntarily seek a corporate governance
rating.
ITC
employs over 26,000 people at more than 60 locations across India. The Company
continuously endeavors to enhance its wealth generating capabilities in a
globalizing environment to consistently reward more than 3, 37,000
shareholders, fulfill the aspirations of its stakeholders and meet societal
expectations. This over-arching vision of the company is expressively captured
in its corporate positioning statement: "Enduring Value. For the nation.
For the Shareholder."
CORPORATE SOCIAL RESPONSIBILITY OF I.T.C
Envisioning a larger societal purpose has always
been a hallmark of ITC. The company sees no conflict between the twin goals of
shareholder value enhancement and societal value creation. The challenge lies
in fashioning a corporate strategy that enables realisation of these goals in a
mutually reinforcing and synergistic manner.
As a corporate citizen with enduring relationships
in rural India, ITC has a history of collaboration with communities and
government institutions to enhance farm productivity and the rural resource
base. ITC’s commitments in agricultural R&D and knowledge sharing have
spanned vital aspects of competitiveness – efficient farm practices, soil and
water management.
In 2000,
harnessing the empowering force of information technology and its scalabilty,
ITC launched e-Choupal – a knowledge portal providing farmers with a range of
information and services. Designed to enable them to bargain collectively and
enhance their transactive power, e-Choupal became the much needed and easily
adoptable tool farmers had been waiting for. Today e-Choupal is a vibrant and
rapidly growing zone of business and interaction for over 4 million farmers.
ITC moved rapidly to apply the economic momentum of
e-Choupal to solving urgent social and environmental tasks. ITC launched
Mission Sunehra Kal, a rural capacity building programme fostering local
initiatives to develop water and forest resources, open up new non-farm
livelihoods, empower women economically and expand primary education.
The Mission now embraces a community of thousands of
villages that are influential nuclei of change in rural localities spread over
11 States. A clearly focused self-help movement has gained ground in village
after village in these areas, with farmers co-operating to create much needed
economic, environmental and social assets out of their own resources.
ITC has consciously chosen the path less travelled.
A path that has led it to create sustainable livelihoods for 5 million people.
For ITC this is an expression of a commitment beyond the market. Of a
conviction that country must come before corporation. Of a true pride in being
Citizen First.
|
Milestones
|
|
|
e - Choupal
|
4 million farmers empowered,
6,500 e - Choupals installed |
|
Social & Farm Forestry
|
102,973 hectares greened,
generating 46.34 million person - days of employment |
|
Watershed Development
|
47,812 hectares
brought under soil and moisture conservation |
|
Women's
Empowerment
|
Over 18,800 women members
1407 self - help groups |
|
Livestock
Development
|
148 Cattle Development Centres
More than 2700 villages covered annually |
|
Primary
Education
|
216,422 children covered
through 2255 Supplementary Learning Centre |
MAHINDRA & MAHINDRA GROUP
Overview
The Mahindra Group’s Automotive Sector is in the
business of manufacturing and marketing utility vehicles and light commercial
vehicles, including three-wheelers. It is the market leader in utility vehicles
in India since inception, and currently accounts for about half of India’s
market for utility vehicles.
Although created in 1994
following an organizational restructuring, the Automotive Sector can trace its
antecedents back to 1954. The iconic Jeep that led American G.I.s to victory in
World War II is the very same vehicle that drove the Mahindra Group to success
in
the Automotive Sector. Mahindra & Mahindra
Limited, the flagship company of the Group, was set up as a franchise for
assembling general purpose utility vehicles from Willys, USA.
Over the years, the Group has developed a large
product portfolio catering to a diverse customer base spanning rural and
semi-urban customers, defense requirements and luxurious urban utility
vehicles. In 2002, it launched the indigenously engineered world class sports
utility vehicle-Scorpio, which bridges the gap between style and adventure,
luxury and ruggedness, and performance and economy.
The Group
exports its products to several countries in Europe, Africa, South America,
South Asia and the Middle East.
The Automotive Sector continues to be a leader in
the utility vehicle segment with a diverse portfolio that includes mass
transport as well as new generation vehicles like Scorpio, Bolero and the
recently launched Xylo.
Mahindra
& Mahindra’s foray into the three wheeler segment with Alpha and Champion
has also made it a leader in its category.
The
International Operations of the Automotive Sector focuses on the international
business. Mahindra Renault (MRPL) announced the launch of Logan, India’s first
wide body car, sporting a host of class-defying features at an aggressive
price. The Logan redefines its segment in terms of spaciousness as well as
performance, technology with the latest generation dci common rail engine. It
has been designed for the Indian market incorporating a contemporary styling
and design. Mahindra Navistar Automotives Ltd. (MNAL), a joint venture between
Mahindra & Mahindra Limited and International Truck and Engine Corporation,
will manufacture trucks and buses for India and export markets. It will also
provide component sourcing and engineering services to International Truck and
Engine Corporation. Mahindra Navistar (MNEPL) a second joint venture agreement
with Mahindra & Mahindra, Ltd. focuses on producing diesel engines for
Medium and heavy Commercial vehicles in India. Beginning in 2009, MNEPL’s
advanced diesel engines will power the full line of trucks and buses produced
by MNAL.
C.S.R
OF MAHINDRA GROUP
Corporate Social Responsibility has always
been an integral part of the Mahindra Group's vision and the cornerstone of our
Core Value of Good Corporate Citizenship.
- Keshub Mahindra, Chairman
The Mahindra Group defines Corporate Social
Responsibility as making socially responsible products, engaging in socially
responsible employee relations and making a commitment to the community around
it. At the Mahindra Group, Corporate Social Responsibility is not just a duty;
it's a way of life.
In 2005, the Group celebrated its 60th
anniversary by renewing its commitment to Corporate Social Responsibility. It
pledged to dedicate 1% of its profit (after tax), on a continuous basis towards
Corporate Social Responsibility. A unique kind of ESOPs - Employee Social
Options was launched to enable Mahindra employees to involve themselves in
socially responsible activities of their choice. The Group also announced a
special gift: to provide free cochlear implants to 60 profoundly
hearing-impaired, under-privileged children.
In addition to giving impetus to the Nanhi Kali
project for the girl child and the Mahindra All India Talent Scholarship for
the economically disadvantaged, the Mahindra Group is planning to set up two
Mahindra Pride Schools. These schools will offer a variety of courses, with an
emphasis on employability, including training for Information Technology,
Retail, Automotive Engineering etc. They will provide new skills and
capabilities to the weaker sections of society, particularly the scheduled
castes and scheduled tribe youth. While these projects are already underway,
plans for more social initiatives are on the anvil.
HINDUSTAN
UNILIVER LTD
Date of
Establishment 1933
Revenue 4064.3
( USD in Millions )
Market
Cap 603572.415056
( Rs. in Millions )
Corporate
Address-Hindustan Lever
House,165/166 Backbay Reclamation, Mumbai-400020, Maharashtra
WEBSITE
- www.hll.com
Management
Details
Chairperson - Mr Harish Manwani
MD - Mr Nitin Paranjpe
Directors - A Narayan, Ashok K Gupta, C K Prahalad, D
S Parekh, D Sundaram, Dhaval Buch, Douglas Baillie, Dr R A Mashelkar, Gopal
Vittal, Harish Manwani, Mr A Narayan, Mr D S Parekh, Mr Gopal Vittal, Mr Harish
Manwani, Mr Nitin Paranjpe, Mr Pradeep Banerjee, Mr S Ramadorai, Mr Sridhar
Ramamurthy, Nitin Paranjpe, Pradeep Banerjee, R A Mashelkar, S Ramadorai
Household & Personal Products
Background
Hindustan
Unilever (HUL) is the largest
fast moving consumer goods (FMCG) company, a leader in home & personal care
products and foods & beverages. HUL's brands are spread across 20 distinct
consumer categories, touching lives of every 2 out of 3 Indian.
It has employee strength over 15000 &
1200 managers. It has created widespread network through its 2000 suppliers
& associaties.There 75
Financials Total
Income - Rs. 179160.3 Million ( year ending Mar 2010)
Net Profit - Rs. 21026.8 Million ( year ending Mar
2010)
Company
Secretary-Ashok K Gupta
CSR
ACTIVITES OF HINDUSTAN UNILIVER LIMITED
Greening
Barriers: Water Conservation and Harvesting
(linked to product Pureit)
HUL's Water Conservation and Harvesting
project has two major objectives:
a. to reduce water consumption in its own
operations and regenerate sub-soil water tables at its own sites through the
principles of 5R - Reduce, Reuse, Recycle, Recover and Renew;
b. help adjacent villages to implement
appropriate models of watershed development.
SHAKTI
- Changing Lives in Rural India
Shakti is HUL's rural initiative, which
targets small villages with population of less than 2000 people or less. It
seeks to empower underprivileged rural women by providing income-generating
opportunities, health and hygiene education through the Shakti Vani programme,
and creating access to relevant information through the iShakti community
portal.
In general, rural women in India are
underprivileged and need a sustainable source of income. NGOs, governmental
bodies and other institutions have been working to improve the status of rural
women. Shakti is a pioneering effort in creating livelihoods for rural women,
organised in Self-Help Groups (SHGs), and improving living standards in rural
India. Shakti provides critically needed additional income to these women and
their families, by equipping and training them to become an extended arm of the
company's operation.
Health & Hygiene Education
Lifebuoy Swastya Chetna (LBSC) is a rural
health and hygiene initiative which was started in 2002. LBSC was initiated in
media dark villages (in UP, MP, Bihar, West Bengal, Maharashtra, Orissa) with
the objective of spreading awareness about the importance of washing hands with
soap.
The need for a program of this nature arose
from the fact that diarrhoeal diseases are a major cause of death in the world
today. It is estimated that diarrhoea claims the life of a child every 10
seconds and one third of these deaths are in India. According to a study done
by the London School of Hygiene and Tropical Medicine, the simple practice of
washing hands with soap and water can reduce diarrhoea by as much as 47%.
However, ignorance of such basic hygiene practices leads to high mortality rates
in rural India.
Economic
Empowerment of Women
The Fair & Lovely Foundation is HUL's
initiative which aims at economic empowerment of women across India. It aims to
achieve this through providing information, resources, inputs and support in
the areas of education, career and enterprise. It specifically targets women
from low-income groups in rural as well as urban India. Fair & Lovely, as a
brand, stands on the economic empowerment platform and the Foundation is an
extension of this promise. The Foundation has renowned Indian women, from
various walks of life, as its advisors. Among them are educationists, NGO
activists, physicians. The Foundation is implementing its activities in
association with state governments.
Special
Education & Rehabilitation
Under the Happy Homes initiative, HUL
supports special education and rehabilitation of children with challenges.
Asha
Daan:
The initiative began in 1976, when HUL
supported Mother Teresa and the Missionaries of Charity to set up Asha Daan, a
home in Mumbai for abandoned, challenged children, and the destitute.
Ankur:
In 1993, HUL's Doom Dooma Plantation Division
set up Ankur, a centre for special education of challenged children. The centre
takes care of children with challenges, aged between 5 and 15 years. Ankur
provides educational, vocational and recreational activities to over 35
children with a range of challenges, including sight or hearing impairment,
polio related disabilities, cerebral palsy and severe learning difficulties.
Kappagam:
Encouraged by Ankur's success, Kappagam
("shelter"), the second centre for special education of challenged
children, was set up in 1998 on HUL Plantations in South India. It has 17
children. The focus of Kappagam is the same as that of Ankur.
Anbagam:
Yet another day care center, Anbagam
("shelter of love"), has been started in 2003 also in the South India
Plantations. It takes care of 11 children. Besides medical care and meals, they
too are being taught skills such that they can become self-reliant and elementary
studies.
FINDINGS, DATA & ANALYSIS
Ø “Corporate Social Responsibility” in its
present form and content has gained popular attention only in recent years, its
origin can be traced back to the evolution of the concept of a welfare state.
Ø A moral argument for CSR
Ø An
economic argument for CSR
Ø Arguments against corporate social
responsibility.
Ø Big brands like
I.T.C and MAHINDRA are performing C.S.R activities that are different from
their core work.
Ø I.T.C launched e-Choupal – a knowledge portal
providing farmers with a range of information and services. Designed to enable
them to bargain collectively and enhance their transactive power.
Ø For MAHINDRA Corporate Social Responsibility is not just a
duty; it's a way of life. That’s why they started “NANHI KALI” which has
successfully evolved over the years into a national girl child sponsorship
programme, which supports the education of girl children by providing not only
academic support but also direct material support in the form of uniforms,
clothes, note books etc
CONCLUSION
Thus we studied and analyzed a lot about the
CORE WORKING and C.S.R activities performed by both the major MNC’s of INDIA,
and most importantly what we noticed was
that the core area of working of these companies is different from that of
their C.S.R activities like Mahindra which is an automobile giant of India has
started Nanhi Kali i.e. a initiative of providing free education to rural based
girl child and also establishing beautiful gardens while I.T.C which is a baron
in hotel and tobacco industry has
established E- chaupals providing farmers with not only technology but also
global market to sell their products.
Now
to conclude with I have a question in mind if I.T.C is in hotel and F.M.C.G segment
and Mahindra in automobile than why are they working for farmers and girl child
education……. Answer is simple they do this for making our generation, youth ,
public and nation strong but not AS A TOOL OF ADVERTISEMENT, if they have done
it just for advertisement than why didn’t they choose something related to
their core working area.
RECOMMENDATION
Before any recommendation I would like to
share my own experience while making this project i.e. people should not judge
from what they hear but should judge and decide from what they see.A common
thought what I felt in peoples mentality is that they treat the social work
done by BIG BRANDS as an ADVERTISEMENT technique but surprisingly not few but
all major companies are socially active in those fields which has no link up to
their CORE work than why are they expending a lot on social activty this is
because they are keen and dedicated to serve people not for mere publicity.
I request people not to
make their dedicated work hamperd by saying it a tool of advertisement rather
they should encourage companies active in social activities by participating
more and more and helping them.
And I specially request
youth not to think lo\ike others do and if they will also participate in social
activities run by these companies I bet not only the backward class would get
oppurtuities but also our whole NATION would be benifited from it.
LIMITATION
The study might be limited by following
factors:
1. Personal limitation – whole interpretation is
depending on my knowledge so there may be a chance of error.
2. Only secondary data is used in my research so
validity of research is not sure.
3. Since the topic is current that’s why
appropriate data is not available.
Bibliography
Ø www.ebscohost.com
Ø www.csr.com
Ø www.managementparadise.com
Ø www.havardbusinessschool.com
Ø www.timesofindia.com
Ø www.hinduonnet.com
Ø www.economicstimes.com
Newspapers and Magazines-
- Times of India
- Economics Times
- Business Standard
- Financial Express
- Baylor business review; spring 2009 vol. 27 Issue 2, p20-23,4p
- People management; 3/26/2009,vol.25 Issue 7, p24-27,4p;
·
Vital speeches of day, jun2006,
vol.72 Issue 16/17, p501-504,4p;
