m
  


  
    

m  
 

    



 
 
      


   
  
  
 
       
     
   
  
    
CSR Began With Economics
Adam Smith, father of political economics. Adam Smith,
in DzAn Inquiry into the Nature and Causes of the Wealth of
Nations,dz expressed that the needs & desires of society
could best be met by the free interaction of individuals
and organizations in the marketplace.

The Wealth of Nations further noted that, DzIt is not from

the benevolence of the butcher, the brewer, or the baker
that we expect our dinner, but from their regard for their
own interest.dz These laid the foundation of corporate
social responsibility, where consumers were aware about
the social benefits of creating the wealth of nations and of
financing actions to Dzadvance the interest of society.dz
DzThe phrase Corporate Social Responsibility was coined in
1953 with the publication of Bowen's Social Responsibility
of Businessmendz (Corporate watch report, 2006).
Industrialization and impact of business on the society
led to completely new vision. The first company to
implement CSR was Shell in 1998.
1990 was CSR as a standard industry with companies like
Price Warterhouse Copper and KPMG. CSR evolved
beyond code of conduct and reporting it started taking
initiative in NGOǯs, multistakeholder, ethical trading.
(Corporate watch report, 2006).
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, 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 wastesi
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.
The amount of information available to customer about
the company, product, brand globally through easy
accessible and available mode of information; internet,
communication, customer wants to buy product from
trusted brand, employee want to work for the company
who respect them, NGOǯs want to work with company who
work with the same vision for the benefit of the people. As
said by Peter Duker DzThe 21st century will be the century of
the social sector organization. The more economy, money,
and information become global, the more community will
matter.dz
There can be few key steps to implement CSR successfully
(Corporate Social Responsibility, 2003)
1) Better communication between top management and
organization
2) Appoint for CSR position.
3) Good relationship with customer, supplier, stakeholder.
4) Annual CSR audit.
5) Feedback process
ßong referred to as a companyǯs soul food, corporate social
responsibility is finally being taken seriously by Indian
tech companies as they embark on a gamut of
philanthropic activities. Through Infosys foundation and
other initiatives, Narayan murthy chairman and chief
mentor of Infosys has always been on the forefront of
philanthropic activities as a part of CSR. Mr. Narayan
murthy firmly underlines the significance of CSR: Dzfor
benefit of globalization and technology to reach the poor,
the private sector, philanthropic institutes and individuals
should cooperate and establish partnership with
government institutions. This would lift millions of our
people out of the poverty, provide them with
opportunities and make them participate in the process
and progress of globalizationdz.
The sad part is that CSR still has not taken off in India
according to a recent survey by Mumbai based online
organization karmayog. The second edition of the
research revealed that nearly half of the top companies do
nothing in way of CSR.
For the Indian company, some of the CSR initiatives the
major IT companies have undertaken are
) Education for all
2) Community development
3) Children of a lesser GOD No more
4) Volunteering anyone?
As per Indian oil CSR is DzA Cornerstone of our Enduring
Successdz. Their mission is Dzto help enrich the quality of life
of the community and preserve ecological balance and
heritage through a strong environment consciencedz.
Indian Oil has been taking concrete action to realize its
social responsibility objectives, thereby building value for
its shareholders and customers. Besides this it is also aim
at developing techno- viable and environment Ȃfriendly
product and service for the benefit of customer at the
same time maintaining high standard of safety and
environment protection.
Every year a fixed amount from the profit its profit goes for
social and environment welfare across the country. Indian
Oil has concentrated their programs for women,
education, health, family, welfare etc.
Few of the initiative is providing petrol/diesel station
dealerships and ßPG distributorships to beneficiaries
from among Scheduled Castes, Scheduled Tribes,
physically handicapped, ex-servicemen, war widows, etc.
and also kisan seva Kendra. In case of environment it has
favored for green fuel. It is the firm resolve of Indian Oil
people to move beyond business, touch every heart and
fuel a billion dreams
Corporations are Primarily Economic Institutions.

Must follow the law.

Managers must act ethically.

Duty to correct the adverse social impacts they cause.

It can be concluded that in todayǯs informative world
where information are readily available to general public
CSR has been an important part of any organization to be
successful. Organization in present world cannot be
successful without taking into account the social
responsibility. CSR has been a vital component for any
organization to have perpetual success and to create
brand.