Intergrating Csr as a Strategic Tool for Competitive Advantage
Integrating Corporate Social Responsibility as a Strategic Tool for Competitive Advantage
Dr. Parul Khanna
MBA, Ph.D Assoc. Prof. & Dean R&D Institute of Management & Technology,Faridabad drparulkhanna07@gmail.com
Ms. Chhavi Mathur
Research Scholar Global School of Business
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Introduction: Today, we live in an age in which companies, businesses and society are more connected and interactive than ever before in the past. Corporations are more aware of their role towards the society. They are responsible bodies that feel a sense duty towards commonwealth and the environment that comes with a growing realisation that they, as an integral part of this society themselves, can contribute to its upliftment and empower of the entire country in turn. And consumers and citizens ' campaigns can make all the difference. This is the foundation thought behind the golden handshake between tripartite—companies, society and nation; Corporate Social Responsibility or CSR. In one of the recent natural disasters to hit India, Tsunami, the devastation and misery caused by the sudden, massive inundations of the Indian Ocean touched all. The devastation was huge and millions of people around the world spontaneously made huge donations in order to make immediate relief possible. Not only did private individuals put their hands into their pockets, but also many corporations and governments made donations on a very large scale. What was remarkable is how quickly so much aid has been made available. This was the fund that brought tsunami affected areas back on their feet. That was Corporate Social Responsibility in action. In so many other ways one gets to see CSR in practice---environment friendly projects, constructing schools, encouraging education--- just some of the ways that organizations are giving back to the community, a part of their profits in a manner that the community
Dr. Parul Khanna
MBA, Ph.D Assoc. Prof. & Dean R&D Institute of Management & Technology,Faridabad drparulkhanna07@gmail.com
Ms. Chhavi Mathur
Research Scholar Global School of Business
____________________________________________________________
______________________________
Introduction: Today, we live in an age in which companies, businesses and society are more connected and interactive than ever before in the past. Corporations are more aware of their role towards the society. They are responsible bodies that feel a sense duty towards commonwealth and the environment that comes with a growing realisation that they, as an integral part of this society themselves, can contribute to its upliftment and empower of the entire country in turn. And consumers and citizens ' campaigns can make all the difference. This is the foundation thought behind the golden handshake between tripartite—companies, society and nation; Corporate Social Responsibility or CSR. In one of the recent natural disasters to hit India, Tsunami, the devastation and misery caused by the sudden, massive inundations of the Indian Ocean touched all. The devastation was huge and millions of people around the world spontaneously made huge donations in order to make immediate relief possible. Not only did private individuals put their hands into their pockets, but also many corporations and governments made donations on a very large scale. What was remarkable is how quickly so much aid has been made available. This was the fund that brought tsunami affected areas back on their feet. That was Corporate Social Responsibility in action. In so many other ways one gets to see CSR in practice---environment friendly projects, constructing schools, encouraging education--- just some of the ways that organizations are giving back to the community, a part of their profits in a manner that the community
References: Importance of Outcomes , Measurement of Corporate Social responsibility programmes – Case Nokia, Reeta Talvitie- Siren (2009) White Paper- Externalities Management- Strategic Approach to Improving Corporate Social responsibility, Hewitt Roberts (2004) Green Paper- Commission of European Communities (2001) CSR as determinant of Market Success, Sandeep K. Krishnan, Rakesh Baluchand, IIM Ahemdabad Perceptions of CSR in India- An Empirical Study, Mahavir Narwal and tejinder Sharma, Kurukshetra University Prabandhan: Indian Journal of Management, Volume 3, Number 8, August 2010. www.karmayog.com http://www.ibef.org/india/CSR.aspx www.csrindia.info www.google.co.in