Inclusive Growth of Corporate Social Responsibility in ITC
Kanchana Arun,Assistant Professor, HCM,Vels University
Abstract
Corporate Social Responsibility has become a worldwide concept where by organizations consider the interest of the society by taking responsibility for the influence of their activities on the public and their environment. ITC Hotels is actively committed to the environment. As responsible corporate citizens, they recognize their commitment towards maintaining a greener and healthier environment.
This research paper moves around developing an understanding about the Corporate Social Responsibility, delves into its concept and finding out its scope taking the case study of ITC Grand Chola hotel which has
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The concept came into prominence in the late 1960s and early 1970s.This idea was mentioned popularly in 'strategic management: a stakeholders approach ' by R. Edward Freeman in 1984.
Definition by Archie Carroll CSR as a multi layered concept that can be differentiated into four interrelated aspects – economic, legal ethical and philanthropic responsibilities.
Philanthropic
Ethical
Legal
Economic
Definition from the World Bank Group
Stating, “Corporate social responsibility is the commitment of businesses to contribute to sustainable economic development by working with the employees, their families, the local community and society at large, to improve”.
Vice President Hamid Ansari called upon the captains of Indian industry to embrace the concept of 'growth with equity ' as part of their CSR motto.
"Empirical evidence shows growth without equity is not sustainable in the long run. Desired levels of equity can 't be attained without rapid and sustained growth. Hence the solution is not in 'either-or ' but in 'both '".
Objectives of the study
To highlight the functional areas of the Government policies
To understand the contribution of the ITC’s CSR towards inclusive growth THE CSR POLICY
1. Care for all stake holders:
The companies should respect the interest of, and be responsive towards all stake holders, including share holders, employees,
As spring has found us I notice many social media posts bursting with light and colour and a sense of joy, a happy kind of anticipation. There's an atmosphere smelling of freshly cut grass, sunshowers and a 'new day' type of feeling. It reeks of positivity and optimism.
Corporate social responsibility is not going to solve the world’s problems. With that being said, corporate social responsibility is a way for companies to benefit themselves while also benefiting society. It allows companies to take small steps to make big differences in areas of need. Some may say that it is a bunch of “greenwashing” – the deceptive use of green marketing that promotes a misleading perception that a company’s policies, practices, products or services are environmentally friendly – but there is a call to action that inspires a company to get involved in the community (Kewalramani, Sobelsohn).
Two out of three people are discriminated everyday. “Giving someone equal rights does not infringe or take away rights from them, it just makes it illegal to enforce your prejudice and hate.” British statesman and philosopher Edmund Burke once said, “Those who don’t know history are destined to repeat it.” He also said, “All that’s necessary for the forces of evil to win in the world is for enough good men to do nothing.” During the Cherokee Indian Removal, the Cherokee Indians were forced to be removed by the U.S. troops because of discovery of gold leading them to be removed, and discrimination towards the Cherokees.
Corporate social responsibility is a term that conveys a corporation’s social responsibility to society. In the old days corporations felt that once they had gained support from the public they had a responsibility to give back to the community. This idea of giving back meant serving as volunteers and providing financial contributions in aim of correcting the problems of the community. Corporations have a wide range of opportunity and reach within most societies so it is important and can ultimately be a great aid for a corporation to help in correcting the problems of society by contributing and giving back along with other individuals. I also believe that corporate social responsibility means ensuring that there are not problems arising that make it hard for consumers to continue to support a corporation. The continuation of a corporation is dependent upon consumers and I believe it is the
Corporate social responsibility is a company’s way of making sure that they comply with the law and ethical standards whilst increasing its positive affects on society. For today’s socially conscious shopper, selling a good product or service is no longer enough to attract customers. Company Q displays little regard for social responsibility within the community that their company operates in.
Corporate social responsibility is an organizations’ impact on society that goes beyond what is ethical. Being socially responsibility, an individual in upper management must realize how the actions might be able to influence the rest of the environment. If a company is socially responsible the company is honest, trustworthy, and display integrity while dealing with others and provides the attention to the stakeholders, build a community by searching for goals that are compatible with and respect individuals and accomplish silent triumphs.
Corporate social responsibility emphasizes the participation of the organization in a larger society and its responsibility to support good causes. It emphasizes corporate citizenship, philanthropy, and community support and recognizes community-based obligations and responsibilities.
The definition of corporate social responsibility is when a business takes responsibility for the impact it leaves whether it be bad for the environment, customers or anything involving society. Social responsibility is the concept of businesses not just focusing on maximizing profit but also trying to maintaining a positive image for the business. A main concept for social responsibility is “do unto others as you would have them do unto you”. Not a hard concept to grasp. You basically need to act how your parents taught you to as kids, treat people how you want to be treated. Just add having good business sense and you have a potentially promising future in the corporate world. The company could be doing this
Male celebrities also affect the how males want to act and look. When they see certain celebrities getting more attention, they look to that person for guidance. Society idolizes celebrities. It’s hard to not be affected by male celebrities because that’s all people talk about. Attractive celebrities’ bodies are talked about all the time on the radio or they’re shown on television. Some movies have parts where the actor takes off his shirt for no given reason. Males are exposed to very attractive bodies that they cannot achieve on a normal basis. Young males see these football players and see what their lives are like from the outside and want to be like them. Media also influences the way males act. Through looking up to role models in the rap music industry, young males follow what is said in the lyrics. Males view these celebrities as idols and believe the only way to live is to follow their footsteps. Males always need to be stronger than each other. Society pins males up against each other, just like they do to females.
Firstly, I would like to explain what Corporate Social Responsibility is. “It is a company’s sense of responsibility towards the community and environment (both ecological and
Corporate Social Responsibility are actions taken by a corporation that have positive and lasting impact for all stakeholders associated with the organization, seeking to strike a balance between profits and helping to establish lasting investment in the community (Carrol, 2015). In the 1980’s, then President Reagan challenged the business community to take on more responsibility to address social problems (Carrol, 2015). Socially responsible actions can benefit local communities as well as the greater societal good.
Corporate social responsibility “refers to business practices involving initiatives that benefit society” (Caramela, 2016). Categories of social responsibility can be environmental efforts, philanthropy, ethical labor practices, or volunteer work. Organizations need to be more socially responsibility than ever before in order for their businesses and the world to be able to have maximum sustainability. "Sustainability isn 't just important for people and the planet, but also is vital for business success… Communities are grappling with problems that are global in scope and structurally multifaceted — Ebola, persistent poverty, climate change. The business case for engaging in corporate social responsibility is clear and unmistakable” (Caramela, 2016). Corporate social responsibility is becoming a major priority for strategic development by corporations around the world. Management needs to take great care in understanding the relationship between the activities of their organizations, customers, the community, the government, the environment, and employees.
Corporate Social Responsibility can be defined as a company’s social performance and the impacts of the company on its internal and external stakeholders, including: customers, suppliers, employees, communities, government and the environment". ***
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. (World Business Council for Development, 2016)
Social responsibility is an idea that has been of concern to mankind for many years. Over the last two decades, however, it has become of increasing concern to the business world. This has resulted in growing interaction between governments, businesses and society as a whole. In the past, businesses primarily concerned themselves with the economic results of their decisions. Today, however, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions. This paper will discuss the concept of corporate social responsibility. It will give the definition of the phrase, and identify some of the global factors that necessitate corporate social responsibility. It will discuss the importance of corporations setting up corporate social responsibility projects, and the impact these have on society, it will also highlight a business for its outstanding work when it comes it SCR. Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all business.