Aditya Birla Group's Contribution to Corporate Social Responsibility
Shailesh Nandlal Pandey
Email: Shail.199222@gmail.com
Megha M. Bhogawar
Email: meghabhogawar@gmail.com
MMS Student, Mumbai University, Mumbai, India
MMS Staff, Mumbai University, Mumbai, India
Abstract
Corporate Social Responsibility (CSR) refers to the business practices that involve initiatives benefiting society. Companies adopt various CSR strategies to positively impact the public, economy, or environment. In today's socially conscious market, businesses that prioritize CSR often attract more employees and customers.
Objective of the Project
The project aims to provide a comprehensive study of CSR, fulfilling the requirements of the fourth semester for degree completion.
Understanding Corporate Social Responsibility (CSR)
CSR is a self-regulating business model that helps companies remain accountable to their stakeholders and the public. Also known as corporate citizenship, CSR ensures that companies are conscious of their societal impact across economic, social, and environmental dimensions. CSR initiatives can include philanthropic efforts, volunteer programs, and sustainable business practices.
Why Implement CSR?
Many companies integrate CSR into their brand image, believing it makes them more appealing to consumers who value ethical behavior. CSR activities also serve as a crucial aspect of corporate public relations. Additionally, some founders engage in CSR driven by personal beliefs.
Impact of CSR
The movement toward CSR has influenced multiple domains. Many companies now focus on environmental sustainability, ethical labor practices, and local community support. While CSR programs are more common among large corporations, small businesses also participate in these initiatives through localized efforts such as donations and event sponsorships.
CSR at Aditya Birla Group
The Aditya Birla Group's CSR initiatives aim to enhance the social and economic development of the communities they operate in. The Group reaches out to 9 million people annually in 7,000 villages through the Aditya Birla Centre for Community Initiatives and Rural Development.
