International Journal of Human Resource Management and Research (IJHRMR) ISSN 2249-6874 Vol. 2 Issue 3 Sep 2012 1-12 © TJPRC Pvt. Ltd.,
CSR: MAKING GOOD BUSINESS SENSE IN INDIA WITH SPECIAL REFERENCE TO VEDANTA LANJIGARH 1
1
SATYA SIDHARTHA PANDA & 2AMIT KANJILAL
Research Guide –Einstein International University – USA, HOD-Bangalore City College, Bangalore, Visiting Faculty (Organizational Behavior) -Christ University, Bangalore
2
Senior Professor, Department of Management, International Institute of Business Studies, Bangalore
ABSTRACT As economic liberalization has widened economic disparity in India, there is a need for Corporates to create a favorable image among the public. This leads them to adopt the practice of Corporate Social Responsibility (CSR), taking up social initiatives. Satisfaction drives the engines for business to invest and reap benefits. Most of all satisfaction brings life and business much closer towards moments of worthiness of the time spent. This paper attempts to persuade to understand how Vedanta Lanjigarh
As a Group, is
committed to undertake social and community based initiatives to contribute to the socio economic well being and provide an opportunity for empowerment of communities in Kalahandi district in a short span of time. How they are Building the people, proactively engaging them and giving an opportunity to grow and lead their life in a better way.VAL has used the Finance which has been earned from the Society, take their Manpower originated and developed by the Society and Goods/Services supplied by the Corporates will be utilized by the Society.
KEYWORDS: CSR, Philanthropic responsibility, BPO, socio economic, corporate citizen & social mobilization.
INTRODUCTION The nature and scope of Corporate Social Responsibility has changed over time. The concept of CSR is a relatively new one—the phrase has only been in wide use since the 1960s. But, while the economic, legal, ethical, and discretionary expectations placed on organizations may differ, it is probably accurate to say that all Societies at all points in time have had some degree of expectation that Organizations would act responsibly, by some definition. In the Eighteenth Century, the great economist and philosopher Adam Smith expressed the traditional or classical economic model of business. In essence, this model suggested that the needs and desires of Society could best be met by the unfettered interaction of individuals and organizations in the marketplace. By acting in a self-interested manner, individuals would produce and deliver the goods and services that would earn them a profit, but also meet the needs of others. The viewpoint expressed by