A Study of Successful CSR Practices by Industry Leaders

Phani Marpaka, Pushkala Muralidharan

Abstract


This exploratory research aims at analyzing the importance of Corporate Social Responsibility (CSR) from a company’s perspective and the impact of the different successful CSR practices followed by industry leaders to increase their competitive advantage and brand equity. The scope of the report is limited to CSR practices of companies towards the community. It is a comparative study about the practices adopted by companies in view with the changing times. 15 companies of different sectors have been studied based on CSR theory, most of which also feature in ‘The Global 50

Sustainable Companies of 2011 list’ compiled by Corporate Knights Research Group with verification performed using ‘The Bloomberg Professional’. The results obtained from these companies through their websites and journals have been illustrated. The paper also gives details as to when and to what extent a company is to consider CSR practices, the different CSR practices that can be adopted, concerns of the public towards a CSR oriented company and how it results in a win-win situation for both the corporate sector and the community that it serves.

CSR actions are becoming more and more visible and numerous, both in the business environment and at governmental level. The CSR concept was initially used by national companies more as a marketing and media coverage instrument, rather than for its ethical values. As time went by, it became clear that the business environment

is a key element in finding solutions to community issues. It is crucial that while making decisions, a responsible company takes into account the impact of its actions on the general public, the environment - internal and external- in which it operates and the economy as a whole. As organizations across the world continue to rethink their role in the wider society, refine their CSR practices and strategies and gain more capabilities to do so, their role in society is set to evolve.

Keywords: 

CSR, Corporate Governance, CSR Policies, Corporate Sustainability Report, Industry Leaders

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