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Corporate Social Responsibility (CSR) And Its Global Implementation
INTRODUCTION
Corporate social responsibility (CSR) and holding companies held responsible for carrying out social revolution with their business views, practices, and revenues. In fact, in this modern era of CSR, some will abandon their desired corporations if they believe they are fulfilling their responsibilities towards societal and environmental issues. (Sammi Caramela, 2018)
Corporate Social Responsibility. Sounds good. If it is done right, it is considered as very good for society. CSR should be a serious issue for an organization’s operating attitude, its standards, and its purpose. Every organization should do CSR. Many are doing it skillfully well. Using Corporate Social Responsibility as a supernumerary for the purpose is Corporate Social Irresponsibility. It is the dark side of CSR. The companies that are doing CSR, as a purpose must stop doing it as a purpose because CSR is not a purpose. (Pontefract, 2017)
Process studies following the trend of providing access to data and richness of qualitative methods of inquiry by examining CSR topics that are laborious in the fundamental accomplishments by which a corporation can involve in CSR. (Aguinis, 2012)
CASE STUDY
TATA is an Indian company that deals in automobiles, Steel, telecommunications and now consumer goods. Chairman, Ratan N Tata, took the group to the new height. Tata Sons Ltd is taken over by philanthropic trusts gifted by Sir Dorabji Tata and Sir Ratan Tata, children of Jamsetji Tata. It utilized approximately 8-14 %of its net profit every year for social purposes. It continued these activities even when economy was in recession. In 90s, it holds growing its CSR used up from Rs.670 M in 1997-98 to Rs.1.36 B in 1999-2000 during recession. It spent 3.37% of its profit on CSR in 2012-13 and 300 crores for the atmosphere welfare. (Majmudar, 2016)
In 2004, Manoj Chakravarti, G.M – Corporate Affairs &Corporate Head – Social Responsibility, Titan Industries Limited stated the importance of CSR in an organization is just like its DNA and believed that if society is prospered then organization will be prospered. TATA group has always been a CSR recognized organization. Its originator always assists the social causes for being a part of the Gandhijis campaign in the South Africa. For the empowerment of country growth, Tata group gave many centers for science and research. It follows its principles in all its companies including the TCS (technological segment) following four zones to raise living standards for its employees and society: (Namrata, 2016)
- Leveraging the Company’s fundamental competences in technology.
- Creating volunteering conditions for worker.
- Constructing synergistic association with clients and other partners.
- Financial aids.
Tata took illegally health software from an American company, Epic Systems, endangering its transparency and for this Wisconsin federal has charged $940 million consequence. An immoral case of land of Singur farmers is being surpassed by TATA group for its fitting of new Nano factory plant. Due to this, people has to migrated. Indica, TATA product is under the case of generating pollution along with odd noise pollution. (Majmudar, 2016)
GLOBAL IMPLEMTATION
In this modern era, companies in a global market facing the composite and various interactions of stakeholders. Because of globally influence the (CSR) became more crucial. (oberseder, 2011) .Firms should think out of the box and come out from its conventional borderlines to meet their targets and access the wide markets (kang, 2009). For the prosperity of society CSR is a devotion which put in action through the business executions. CSR has been used by the organizations for societal wellbeing and as goodwill reservoir. Implementation of CSR has been done externally and internally too, as external level incriminates to step forward for minorities, stripping and environmental refinement on the other side the CSR on internal level involves recycling methodology, daycare for employees.
CSR has positive impact on firms accomplishment because of efficacious impact of customer beliefs and association ,market direction. (burze, 2015).CSR has negative results too ,as for security purpose of society that would entail heavy cost ,and CSR has to overlook the shareholders reluctance and green washing as well and some companies erect the pollution and turn out the uncanny pollution in atmosphere. (lambarodo, 2016) .
CONCLUSION
Above facts and figures collected from the analysis on TATA indicate that the company entails in society’s contribution but at the same time it is also deficient somewhere. There are some substantial aspects which are being scrutinized in the study like Governance, Transparency, Hypocrisy, sustainability and benefits get through strategy in a corporate world.
In Corporate Social Responsibility, TATA group is not facing such surfeit predicaments. This is because TATA is the group which originated the idea of CSR in businesses. According to the CSR Model it has built its strategy. The company keeps it substantive that there should be reciprocated relation between a business and a society. I suppose this is the only reason that the company is soaring rapidly and making vaunted profits.
Beside all these things, the major deterrent of TATA Group is the SINGUR case which proved debacle for the common people whose large slot was disturbed by this. It had dire and deleterious impacts on the society and that was unethical. Now it is more concentrating on making profits and averting from its Corporate Social Responsibility objectives.
References
- Pontefract, D., 2017. Forbes. Stop confusing CSR with Purpose, November.
- Sammi Caramela, B. S. W., 2018. Business News Daily. What is Corporate Social Responsibility?, june. wang, t. t. a. g., 2016. CORPORATE SOCIAL RESPONSIBILITY. Academy of Management Journal, p. 11.
- Majmudar, 2016. India’s Top Companies for CSR & Sustainability 2015. A case study on Corporate Social Responsibility in TATA, january. Namrata, 2016. The Economic Times. A case study on Corporate Social Responsibility in TATA, january.
- Rana & Neeti, 2016. Future Escape. A case study on Corporate Social Responsibility in TATA, january.
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