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The Political Economy of Corporate Responsibility in India takes on the topic of socioeconomic development in India under different economic governance frameworks since the 1950s, and how each has given rise to a large number of interrelated concerns, including impacts on employment and distribution of income, emergence of new forms of vulnerabilities, weakened state structures, imbalanced demographics with sub-national disparities, environmental and biomass degeneration, and dismal performance on several human development indicators. The book includes information on the ways that institutional actors, including private sector corporations, have responded to these challenges. In addition, the increased focus and pressures by campaigners on corporations to not only minimize harm, but also maximize benefits emanating from their operations has put many leading global corporations in the line of fire, creating a profound influence in many countries, including India. This book documents these experiences in the Indian context and identifies the scope and limitations of corporations to address such concerns. Includes a political economy framework to analyze corporate social responsibility (CSR) Integrates analytical constructs on CSR in India with changes in the conditions of businesses in India using empirical data and case studies Links CSR practices in India with changing corporate management practices, their evolution, and a comparative analysis using the Anglo-Saxon model of corporate governance
The concept of 'Corporate Social Responsibility' (CSR) is not new to the Indian corporate world. The recent proposal by India0́9s Ministry of Corporate Affairs (MCA) to make philanthropy compulsory by law under the Companies Bill 2009, however, gave rise to a raging debate in the country. Many questions were raised including whether a rule-based approach to philanthropy is needed and whether making CSR spend mandatory by law would yield the desired outcomes? However, before one answers these questions, it is important to reflect on one fundamental aspect under the CSR debate. If socially responsible behaviour has become key to corporate agendas, then why have only some firms behaved in a socially responsible manner while others have not? This paper examines the factors that govern such behaviour on the part of firms and traces its relevance to the current CSR debate in India.
Provides detailed analyses of CSR in the cement industry and in regulatory policies adopted by the central government in India.
Providing a much-needed critique of Corporate Social Responsibility (CSR) practice and scholarship, this book seeks to redress CSR advocacy, from a political and critical perspective. A strident approach backed up by extensive use of case studies presents the argument that most CSR-related activity aims to gain legitimacy from consumers and employees, and therefore furthers the exploitative and colonizing agenda of the corporation. By examining CSR in the context of the political economy of late capitalism, the book puts the emphasis back on the fact that most large corporations are fundamentally driven by profit maximization, making CSR initiatives merely another means to this end. Rather than undermining or challenging unsustainable corporate practices CSR is exposed as an ideological practice that actually upholds the prominence of such practices. As CSR gathers momentum in management practice and scholarship, students in the fields of CSR, business ethics, and strategy, will find this text a useful companion to counter received wisdom in this area.
This work describes the Corporate Social Responsibility (CSR) in a developing economy such as that of Nigeria. Specifically, it is a case study of the role of industry; in this case Ashaka Cement Company plc; in promoting sustainable development in its host communities through CSR. The company was established in 1979; but general outcry by the communities around the company on its activities necessitates this work. They are 'crying' against neglect in terms of employment and the provisions of basic infrastructures, such as water, road, education and electricity. Against the foregoing, this book addressed the following questions; what are the strategies being used by the company to achieve its set objectives? What are the patterns of relationship between the company and the host communities? What are the inputs of the company on the area and people who formed the communities? The Stakeholder theory of the firm is used as a theoretical framework. By means of tabulation and percentage tools of analyses on data collected through questionnaires and interview, a significant positive relationship between grievances by the Ashaka communities and the activities of the company was found.
This book is a compilation of Corporate Social Responsibility (CSR) theory and practices, with special reference to the Indian context. Over the last few decades, which have seen the onset of globalization, emergence of the industrial sector and an increased focus on community development, much attention has been focused on the role of corporations towards developing those societies where their operations are based. The introduction and evolution of CSR theories and practice in the developed countries has given CSR theorists and practitioners the guidance to appropriately place and implement CSR initiatives to help develop their role in the developed societies. However, while ample literature exists on such CSR practices, little has been done to aid the development of CSR in developing countries. Characterized by peculiar economic, political and social settings, the developing world needed its own blueprint for how CSR works and how it could best succeed. The need for doing is especially pertinent to a country like India, which is presently at a very crucial threshold, economically, politically and socially. Given the need to contextualize CSR theory and practice to the developing context, several CSR theories and practices have been explored in this book, which will provide readers with a thorough understanding of CSR and its successful implementation.
Presenting an analysis of Corporate Social Responsibility (CSR) in India, this book looks at the unique roots of the concept in India. It examines Gandhi’s philosophical moorings that inform India’s approach to CSR, and the role of civil society in setting an agenda for championing the rights of the stakeholders. The book goes on to focus on the role of the government in grooming the Indian business to be sensitive of its social concerns. Drawing on rich empirical data, the book shows that CSR in India cannot be conceptualized in ethnocentric terms. Arguing that it is not about ‘the typical Indianness’ of the articulation, it emphasizes the point that CSR in India needs to be conceptualized in a wider perspective by taking into account its philosophical roots with reference to the prevalent socio-economic and political context. The book is a valuable contribution to the literature on CSR, and is of interest to scholars of Asian Studies, business and development studies.
This book provides a comprehensive overview of Corporate Social Responsibility (CSR) in Indian corporations following the 2013 legal mandate on corporate spending of profits for CSR. Bringing together authors hailing from diverse walks of life, the book pursues a 'hands-on' approach, with real-world case studies and examples that help the reader feel the dynamic pulse of India immediately after the ratification of the CSR mandate in the Companies Act, 2013. The Act is expected to affect over 16,300 companies with an estimated flow of approximately 200 billion Indian rupees into the economy every year, thus shaking the foundations of business and society and impacting the country at multiple stakeholder levels. As a result, India is likely to become the birthplace of social, economic, and environmental transformation through financial investments in CSR! In order to insightfully reflect on this transition, this book has been divided into three parts. The first part presents the CSR mandate and its implications, while the second focuses on its implementation and the third part provides a view on the way forward. The book helps to reveal the various layers of CSR in an emerging economy like India and is expected to spark debate, discussion and research among policy-makers, consultants, academics, practitioners and other stakeholders the world over, which will further expand its contribution to CSR literature and open up new vistas in CSR research. "This is indeed a first of its kind book and marks a watershed in the journey of CSR. It is an extremely important contribution to the body of knowledge in the area of CSR and Corporate Governance in emerging economies that is driven by a completely different set of challenges, opportunities and requirements from that of developed economies." Dr. Bhaskar Chatterjee, Director General & CEO, Indian Institute of Corporate Affairs