Prof.SATYA SIDHARTHA PANDA
M.B.A.,M.J.M.C .,CCMM,(Ph.D)
BANGALORE -INDIA
Submitted @ Einstein International University ,U.S.AAbstract
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.
Corporate Social Responsibility (CSR) has blossomed as a movement in recent years, driven partly by growing pressures on companies from NGOs, customers and other stakeholders, and partly by companies choosing voluntarily to push ahead in this area. But as firms have expanded their CSR activities, the sophistication of tools available to understand the value and business impacts of such activities has lagged behind. While an impressive range of initiatives, indices and tools have been or are being developed, allowing some form of measurement, these are of limited use in guiding actual investment decisions on CSR: for example, many focus on whether CSR has minimized risks, and thus neglect the business opportunities that it may help capture. Likewise many fail to differentiate between CSR issues that impact business performance from those that are marginal in this respect.
Corporate social responsibility is at least in its name and formal recognition a relatively recent phenomenon. Yet, owners and managers of firms have engaged in activities that we would now consider CSR almost from the beginning of the industrial revolution (Davis, Whitman and Zald, 2006). But, until the 1990s, CSR was generally limited to corporate philanthropy. It is from the early 1990s that enlarged concepts and practices of CSR have come to the fore. What drove these radical changes in the conception and implementation of CSR?
Objective of the Study
The research is undertaken to test the proposition that the ethics, Market Value and CSR Practices of corporations based in the United states differ dramatically from corporations based in Europe and other countries .The analysis is meant to provide companies with a better understanding of the similarities and differences between the U.S, India and most Asian, Europe and other countries business environments. I want to inform all the companies of the current business climate in Europe and other countries by taking a closer look at government regulation, company policies, best practices and opinion surveys. This timely study uses a blend of qualitative and quantitative research to provide the necessary data to develop recommendation and make concluding statements.
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Literature
Finding comparable information in Europe and other countries took a more thorough search. A Careful review of the latest industry publications, on-governmental organization reports, academic journals and leading periodicals was used to provide theory, track the history of regulations, and stay up to date on reactions to recent corporate scandals. A sample is collected to help evaluate whether American, India, Europe and other countries company policies and procedures regarding business ethics and CSR differed. The company information was often not easily accessible causing time constraints that kept the sample size to 18 companies across 4 industries. I relied on information publicly available in February 2004 through the companies, websites, reports and business database at UC Berkeley’s Haas School of Business. Using the qualitative data from the sample, I documented patterns and trends of corporate business ethics and social responsibility, and identified patterns of differentiation across industries and geography.
Finally what is proposed, therefore, is to select and work with a number of these global leaders and study how they decide which CSR activities create value. The basic aim of this research will be to understand better the link between responsibility and the Impact on the market Value and thereby bringing new insight in to the CSR dialogue.
Regards,
Prof.S.Sidhartha Panda
JAI HIND **
