Abstract:
CSR is no longer philanthropic or a publicity campaign, rather it is a business tool.
Companies have been taking up social welfare activities from time to time. Recently the
business priorities have emerged into Public Private People Partnership (PPPP) for social
causes. Short term charity based welfare programs and interventions are now are not
sustainable but CSR brings about sustainability. Business houses have begun to realize
that they can flourish only on successful societies.
While CSR is relevant for the industry point of view, it is particularly significant for
Industries in developing countries like India, where it can contribute towards increasing
the limited resources for meeting the ever growing aspirations and diversity of a
pluralistic society. CSR intervention is not based on personal agendas but should have
leadership commitments, innovative approaches and partnerships towards improving the
social conditions of the community. Further, the synergy of corporate action with the
government and the civil society make CSR interventions more effective. The studied
case of Tata Refractory has been credited for aggressively pursuing several corporate
social responsibility (CSR) initiatives in India. The case describes the vision and mission
of Tata Refractory which places importance on CSR. It then examines how the group's
vision is translated into action through the various community development initiatives.
Driven by outside pressure, a set of ethical principles were declared but they received
little attention since their press release was poorly timed; the press release coincided with
close down of unit at Belpahar, Orissa due to unethical business conduct concerning to
environmental issue . These cases discusses, how the Tata Refractory had gone about
integrating various CSR initiatives , the measures it is adopting for institutionalizing the
concept and the various benchmarks adopted. Finally, the case examines how Tata
Refractory is integrating CSR with its business processes in the organization's journey
towards Brand excellence not only in Domestically but also Globally. Branding
represents a cornerstone in the corporate marketing umbrella. It is a simplifying symbol
that helps stakeholders distinguishes between sales offers. Credence values such as social
responsibility and ethical business conduct are intangible; the brand thus becomes a
guarantee for the communicated social values.
