Chapter 1 Globalisation A process of interaction and integration among the people, companies, and governments of different countries, a process

driven by international trade and investment and aided by information technology. This process affects the environment, culture, political systems, economic development and prosperity, and physical human wellbeing in societies around the world.

MDG Eradicate extreme provery Achieve universal primary education Promote gender equality and empowerment Reduce child mortality Improve maternal health Combat HIV AIDS Sustainability Global Partnership for Development

Chapter 2 In 1940 the General Systems Theory was introduced. This theory highlights that all organizations are open to and interact with their external environment. According to the Ownership Theory of the Firm, the primary duty of those who manage a firm is to maximize the interests of the firms shareholders; that is, to maximize profits. The corporate law commits managers solely to the maximization of profits for the benefit of the firms owner/shareholders. Shareholders are the residual owners of the firms assets. Edward Freeman propagated the Stakeholder Theory. The theory holds that managers ought to serve the interests of all those who have a stake in (that is, affect or are affected by) the firm. Mitchell, Agle and Wood suggested this:

Chapter 3 The single most important factor influencing business Philanthropy in the preindependence period was the emergence of Mahatma Gandhi as a political and social leader. Gandhiji reinterpreted the traditional concept of "charity (dana) in his theory of trusteeship, which he held up as an ideal to be approximated by business. Founders of business families supported schools, colleges, hospitals, orphanages and the promotion of art and culture. World Business Council for Sustained Development has coined the definition of CSR as Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to the 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. The 2001 survey of 536 companies across India, conducted by Partners in Change (PiC) reveals that Philanthropy is the most significant driver (64 per cent) of CSR, followed by image building (42 per cent), employee morale (30 per cent) and ethics (30 per cent) respectively. The survey showed that there are, appreciably, several cases of companies in India involved in diverse issues such as healthcare, education, rural development, sanitation, micro-credit and women empowerment, arts, heritage, culture, and conservation of wildlife and nature, etc. According to the survey, four models of CSR co-exist in India: (a) The ethical model as suggested by Mahatma Gandhi, where companies voluntarily commit to public welfare4 and participate in nation building; (b) The statist model propounded by Jawaharlal Nehru which calls for adopting responsible practices by State interventions in economic activities and protecting stakeholders through legislation; (c) The liberal model by Milton Friedman which discusses CSR being limited to private owners or shareholders and d) The stakeholder model championed by R Edward Freeman,

which calls for companies to respond to all stakeholder needs. Theories: 1. Friedman's theory: business of business is business 2. Social Contract Theory: Business is a social institution 3. Social Justice Theory

4. Gandhijis Trusteeship Theory 5. Stakeholder theory 6. Deontological theory - Golden Rule