Corporate Social Responsibility Literature Review
CHAPTER 2: LITERATURE REVIEW
2.1 Corporate Social Responsibility in India: An Overview
The concept of CSR is being followed in India since ages and it is not new. In India, corporate responsibility included the concept of corporate philanthropy and the Gandhian trusteeship model in its oldest forms. It involved occasional philanthropic donations made by businessmen. With changing times, there has been a considerable shift in the approach and whereby companies are deemed responsible for all stakeholders (including financial), employees and the communities.
Seema G. Sharma (2009) discusses the concept of CSR as understood by Indian business houses in the past, and the changing interpretations of the concept in the age of globalization and
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The concept is closely related to Mahatma Gandhi who saw industries as ‘Trustees’. As trustees the companies could utilize and control the economic and social resources on behalf of the society and return back the exhausted resources in some ‘developmental form’. This model of CSR made individual philanthropy at the heart of CSR and viewed it from an ethical point of view. Thus, this model is also called as the ‘Ethical model’ of CSR. Many big business conglomerates in India have adopted this form of CSR long back where the philanthropy is built within the rubrics of business model. For example, two thirds of all profits made by the Tata Group go into two charitable trusts that support social causes, and institutions related to social causes in different areas (Bebchuk and Hamdani, …show more content…
Edward Freeman. It widened its scope and included not only the shareholders but also the customers, employees, environment, society, and nearby communities within the purview of the CSR activities. This concept came into existence in the1990s with the realization that rising economic profits could be used in various social responsibilities. The model is based on the trust that the companies need to act upon according to the approach “triple bottom line”. The “the triple bottom line” approach was first coined by John Elkington in 1994. John was the founder of a British consultancy called Sustainability. He argued that companies were bound to prepare three different and separate bottom lines. These three bottom lines should be grouped together as follows
Why Is Company Q Socially Responsible
1495 Words | 6 PagesIn this paper, I am going to discuss and explain my opinions on why company Q is or is not socially responsible. Company Q recently closed a couple of stores in high crime areas. Company Q also started offering very limited health conscious and organic products. The local food bank has contacted Company Q requesting day old food for donations. Company Q has declined the donation request due to possible fraud by its employees and has started throwing the food away.
John Lewis Case Study
959 Words | 4 PagesThis EMA will be looking at John Lewis Partnership (JLP); how the JLP have been affected by global and international retailing, sustainability and ethics, and technology and retailing. I will be making three recommendations that JLP might take to ensure their long-term success. I have chosen the John Lewis Partnership (JLP), as I believe it is an interesting retailer to explore. The 84,000 permanent staff who work for John Lewis are partners, not employees. John Lewis, (2018)
Whole Foods Market Ethical Issues
971 Words | 4 PagesThis brings forth the question of what makes a fair balance between satisfying one’s personal benefits and carrying out collective commitment towards our environment as a consumer? Although we are pre-occupied by our busy lives and want to save time, we should not forget our responsibility in being a good corporate citizen
Walt Disney Company Triple Bottom Line
1630 Words | 7 PagesIn this highly competitive world, money is one of the most significant factors for people to survive because people use money to satisfy their desires such as clothes, food, and medicines. A company will gain profit from the amount of money that people used, but only profit cannot make company to be sustainable. Hence, every corporation should be concerned about the triple bottom lines which can lead company to be sustainable. The Triple Bottom line or TBL was created by the founder of British consultancy called sustainability, John Elkington since 1994 (economist, 2009). The triple bottom line is separately in three categories, including profit, planet, and people.
Volkswagen's Corporate Social Responsibility
1858 Words | 8 PagesIt is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which states that a firm can never exist In a vacuum (Khalidah et. al.).
Tesla Social Responsibility Analysis
715 Words | 3 PagesCorporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders . The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.
Analysis Of Nestle's Corporate Social Responsibility
996 Words | 4 PagesDiscussion Nestlé’s Corporate Social Responsibility consists of looking further then the own company needs or profits and pay more attention to other stakeholders. Everyone concerned or connected to the company business will get a closer look on their situation and will be treated right. They divide the stakeholders in two categories; the first being the internal stakeholders such as employees and shareholders. The second category is external stakeholders where we find the suppliers, customers, environment and so on.
Nestle Corporate Social Responsibility Case Study
3469 Words | 14 Pages1) Evaluate how Nestlé 's approach to corporate responsibility was good for their business. Corporate businesses generally have to meet ethical, legal, commercial and public expectations. That is what is expected of the business world today. This is known as the Corporate Social Responsibility (CSR). However, businesses with short-term goal will rarely practice CSR since practicing it does not bring any benefit.
The Three Factors Of Starbucks And The Triple Bottom Line
1687 Words | 7 PagesJohn Elkington designed a framework called Triple Bottom Line(TBL) (cite), which allows employees or entrepreneurs to adopt it for evaluating their performances regarding three dimensions people, planet, and profit. Starbucks is one of successful corporations which uses the Triple Bottom Line. The underlying Starbucks’s policy is to "inspire and nurture the human spirit-- one person, one cup, and one neighborhood at a time" ( Herbeck, 2012). The statement which was previously mentioned shows that Starbucks does not solely concentrate upon their profits, but their stakeholders’ well beings and the environment as well.
L Oreal Triple Bottom Line
746 Words | 3 PagesIntroduction Sustainability has been mentioned as a goal of businesses. During the mid 1990s John Elkington created the triple bottom line plan under the concept of sustainability. Sustainability can be defined in many ways, but the simplest way is “Ability to sustain” (Sustainability, 2010). The triple bottom line is an accounting framework, and there are three dimensions of sustainability among them people, planet and profit (3Ps). The concept of TBL is to measure the profitable, social and environmental performance of the company.
Volkswagen Code Of Ethics Analysis
1155 Words | 5 PagesDavis (as cited by Khalidah, Zulkufly, & Lau, 2014) defined Corporate Social Responsibility (CSR) as “… the firm’s consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm. It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which stats that a firm can never exist In a vacuum (Khalidah et.
Walmart Corporate Social Responsibility Study
3018 Words | 13 PagesTherefore, there is a great deal of overlap between those who engage in philanthropic model for reputational reasons and those who follow the economic view of business' social
Strengths And Weaknesses Of Sustainable Development
1317 Words | 6 PagesFurthermore, the three pillars of sustainable development, economics, social and
Tesla Corporate Social Responsibility Analysis
713 Words | 3 PagesCorporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders. The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.
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1512 Words | 7 PagesJohn follows the definition of leadership because his relationship with the employees influences them to
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