GROUP-08

DISHA RATESWAR ISHA RATESWAR SOUNAK ROY SARADINDU CHANDA

Definitions
Corporate social responsibility (CSR) is the process by which businesses negotiate their role in society In the business world, ethics is the study of morally appropriate behaviors and decisions, examining what "should be done Although the two are linked in most firms, CSR activities are no guarantee of ethical behavior

CSR is characterized by the following aspects:

Responsible entrepreneurship Voluntary initiatives going beyond legislative requirements and contractual obligations Activities to benefit the employees, business relevant groups (including the society as such) or the environment With a positive contribution to the individual target group while minimizing negative effects on other (incl. environment) Regular activities rather than one-time-events .

Reasons/importance for CSR Activities

CSR activities are important to and even expected by the public And they are easily monitored worldwide CSR activities help organizations hire and retain the people they want CSR activities contribute to business performance

How companies benefit from the CSR concept

No matter the size of an organization or the level of its involvement with CSR, every contribution is important and provides a number of benefits to both the community and business. Contributing to and supporting CSR does not have to be costly or time consuming and more and more businesses active in their local communities are seeing significant benefits from their involvement:

Reduced costs Increased business leads Increased reputation Increased staff morale and skills development Improved relationships with the local community, partners and clients Innovation in processes, products and services Managing the risks a company faces

PepsiCo India water recharge project to benefit 10,000 in three Panipat villages

Pepsi Refresh Project

PepsiCo India water recharge project to benefit 10,000 in three Panipat villages
PepsiCo successfully introduces Direct Seeding Methodology to Panipat farming community to save 45 million liters of water in the first year Strengthens it Positive Water Balance Agenda aims to achieve positive water balance in key states The project has two legs - water recharge structures aimed to improve the water availability for neighboring community and Direct Seeding of paddy which helps reduce water consumption by one third in paddy cultivation. The projects benefited nearly 10,000 people in and around Panipat and recharge and save 220 million liters of water in 2010.

PepsiCo Community CheckDam Project Paithan, Aurangabad

The initiative PepsiCo conducted a water resource assessment study near its Aurangabad plant. In partnership with a civil society organization, Alternative Development initiatives (ADI), PepsiCo selected the most vulnerable village, Wahegaon, as well as Mudhalwadi, Rahatgaon and Esarwadi, as the core areas to implement its interventions to replenish ground water. PepsiCo India then constructed 13 check-dams and recharged over 100 wells.
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Impact The project created the potential to recharge more than 1 billion liters of water. It benefits nearly 12,000 community members through improved access to water, additional crops, increase in yield of rain-fed crops and the opportunity for a second cultivation cycle during the Rabi season due to improved availability of water. Water levels have visibly risen after years; old dry wells have water again and farmer incomes have improved by Rs. 20,000/acre. PepsiCo has also provided safe drinking water to Nagnath Vidyalaya, Wahegaon, by laying an underground pipeline, an overhead tank and taps

Criticisms and concerns

Critics of CSR as well as proponents debate a number of concerns related to it. These include CSR's relationship to the fundamental purpose and nature of business and questionable motives for engaging in CSR, including concerns about insincerity and hypocrisy. Critics concerned with corporate hypocrisy and insincerity generally suggest that better governmental and international regulation and enforcement, rather than voluntary measures, are necessary to ensure that companies behave in a socially responsible manner. CSR could prove to be a valuable asset in an age of Mergers & Acquisitions, as it helps firms spread their brand name

CONCLUSION
The concept of corporate social responsibility has gained prominence from all avenues. Organizations must realize that government alone will not be able to get success in its endeavor to uplift the downtrodden of society. The present societal marketing concept of companies is constantly evolving and has given rise to a new conceptCorporate Social Responsibility. Many of the leading corporations across the world had realized the importance of being associated with socially relevant causes as a means of promoting their brands. It stems from the desire to do good and get self satisfaction in return as well as societal obligation of business.