INDIA: A COUNTRY OF CONTRASTING REALITY

1. INDIA: A COUNTRY OF CONTRASTING REALITY • wage difference: Top ten CEO and the landless laborer is 1:30000 or 1:50000 (Sainath, 2010) • The wealth of 35 billionaire families in India exceeds that of 80 crore poor peasants, land less rural workers and urban slum dwellers. • 28 percent people live in abject poverty with less than US$ 3 per day (Mint, 2009) • In the past one decade, the GDP growth rate has been 6-9 percent but the number of children died due to curable diseases like malaria has also scaled new heights. • As per UN Children Funds report, 39 percent of world’s malnourished children are living in India (Hindu, 2006). • According to UNDP Human Development Report 2009, out of 182 countries India’s rank was 134th (Business Line, 2009). • Another report on Global Hunger Index 2009 has ranked India at 94th position out of 119 countries (TOI, 2009).

2. Such dismal scenario of economic disparity between have and have not’s in India has portrayed a question mark on BUSINESS AND ITS RESPONSIBILITY TOWARDS SOCIETY.

3. CORPORATE SOCIAL RESPONSIBILITYPotentialities Towards Sustainable Development Achala Gupta Masters in social work (pursuing) Tata Institute of social Sciences Mumbai, India e-mail:achalatiss@gmail.com

4. OBJECTIVES • To find out the stakeholder of CSR, as an activity. • To explore the organizations and existing institutions towards developing the strategy for an effective CSR project. • To find out temporal factors of determining the activities under CSR. • To identify the positive benefit of the using CSR by any corporate and company. STATEMENT OF SCIENTIFIC QUESTIONS • Does corporate need to do CSR? • How much weigh does CSR carry in comparison to business? • What has been the scenario of CSR in Indian context? • Who are the stakeholders of the study? BRIEF DESCRIPTION OF METHODOLOGY • Experiential Observation • Secondary research data (journal articles, research articles) • Secondary data (newspapers, other medias of communication)

5. ‘COMPANY’ AND ‘CSR’ ‘Company’ Latin roots (cum and panis) “breaking bread together” CSR covers the responsibilities of companies or corporations to the societies CSR involves a business identifying its stakeholder groups and incorporating their needs and values within the strategic and day to- day decision-making process. (University of Miami, 2007)

6. CORPORATE SOCIAL RESPONSIBILITY IN PRESENT CONTEXT Minimizing the harmful effect Processes and products of the company in direct relation to the public. Increase the positive impact Addressing the felt and unfelt need of the community CSR is a means to provide valid and addressable services, goods and resources to the community in need

7. Stakeholder of the CSR activity The art of the CSR project is in the collaboration between the two in the most effective and organized manner. Community, mediatory and company have the duty to ensure the alignment of the company to the values and ethics for larger equitable development.

8. Framework for CSR project This framework has been designed on the multifolded factors considering the larger environment of the company for carrying out its work. The scalable result oriented projects should be undertaken by the company for its CSR project. The innovations and the practice need to be evolved for carrying out the activities. Company should mention the about sustainability project reports of the CSR in their annual report Again CSR is also linked with the skills of the company and the location of the company.

9. BUSINESS SUSTAINABILITY VS CORPORATE SOCIAL RESPONSIBILITY

10. CONCLUSION AND SUGGESTIONS • CSR: convergence between business and environment. • Need to develop strategies towards making harmonious relationship between environment and business. • opportunities for making self presence felt in the larger public. • developing interest and expertise specific CSR activity. • A corporate can connect directly with community through field based interventions or can indirectly deal with community through some organization. • CSR is not a business venture • It is an important opportunity to be most creative for bringing effective tangible changes in the environment of an organization or corporate which would support the existence of the business itself. • It is a practical understanding of the phrase ‘Giving Is The Best Gift’. • While dealing directly with the community, one must address the felt need of group of people, but the most innovative way to pursue is to transform unfelt and deliverable need to felt need of the community.

11. CORPORATE SOCIAL RESPONSIBILITY (CSR) IS GENIUS BUSINESS MIND WITH A GENEROUS HEART