An essay "Corporate Social Responsibility and Sustainable Development" reports that Companies have realized that practicing unacceptable processes carry not only legal risks. Though business leaders realize that CSR is an integral part of business performance…
Businesses are facing an increasing pressure to adopt Corporate Social Responsibility (CSR) in its agenda of growth. Companies have realized that practicing unacceptable processes carry not only legal risks but also the risk of businesses not performing well. Though business leaders realize that CSR is an integral part of a business performance, often the justifications of incorporating it into the business process are unclear. The most justification given in support of CSR highlights the ‘trade-off’ between business and society rather than the ‘interdependence’ of the two. It is seen that businesses view CSR as means to secure the goodwill and reputation of the business, with all the stakeholders, a moral obligation to support ethical values and meeting the needs of sustainable development. What is missed out in this is the reality; the fulfillment of the social objectives of a business actually enhances the economic objectives of the business in the long-run. That this is possible has been proved by many companies. PepsiCo India has employed various processes to optimise water usage and minimise water wastage. Across its manufacturing plants in India, PepsiCo has installed water recovery equipment and has bettered the water management through recycling and reuse in cooling towers, flushes and gardens. The company has also made it a standard practice to harvest rainwater either by collecting rainwater in ponds that have been excavated for this purpose or by roof-water harvesting. PepsiCo plants in Bharuch, Bazpur, Palakkad, Jainpur, Panipat, Channo, Pune, Mahul and other places, in India, follow this as a standard practice. PepsiCo has also ventured into community water projects and watershed management programmes. The company has saved an approximate two billion litres of water in two years, from the start of this initiative, build its image as a socially responsible business house and to top it all has done very well with its bottled water and non-carbonated beverages.
Another case in point is that of Nestl, which entered the poverty ridden Moga region in India. Poor soil, small tracts of land, droughts, animals suffering from disease and non-existent market, all sorts of challenges were existent here, till Nestl entered Moga in 1962. The company started with establishing milk purchasing organizations in the area and by creating infrastructure in the form of dairies with refrigeration, veterinarians, nutritionists and agronomists to advice farmers and medicine and supplements for the animals. Water supply facilities were also arranged ...
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According to the paper energy sources are exhausting day by day even though our energy requirements are increasing every day. Sam way, we are destroying our universe whenever we fail to dispose the industrial wastes properly. Recycling is an option for both energy saving and industrial waste reduction.
This is to meet the requirements of the present generation as well as ensuring that there is compromising with regards to the abilities of the generations to come. Organisations have been increasingly called upon for taking up additional responsibilities for the way their operations are having an impact on the society and its natural environment (D’Amato, Henderson & Florence, 2009, p.1).
The study will also shed light on the benefits of sustainable development to both societies as well as to the organizations. However, the study will mainly focus on the role played by corporate social responsibility in fostering sustainable development of a company. Finally, on the basis of the findings the study will draw a conclusion.
The new challenges of recession have to be faced with strategic CSR activities that will aim to maximise total wealth. Businesses cannot walk away from the communities, which they touch, by claiming insufficient
ngly called upon for taking up additional responsibilities for the way their operations are having an impact on the society and its natural environment (D’Amato, Henderson & Florence, 2009, p.1). Most of the large enterprises today are seen to attribute the virtues of the
CSR builds the capacity of sustainable living. CSR encourages the business personnel to respect the cultural differences and take all possible steps in order to enhance the skills of employees. Thus, CSR makes
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Sustainable development is the practice of fair trade activities within the reception, production, supply and consumption of the products from the factories. The responsibilities of the persons involved in the production is therefore to improve the efficiency in the production of the products in line with reduced abilities.
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