In 1910, Mr. Jamshetji Tata opened Tata Hydroelectric Power supply Company. Tata Power Company (TPC) is created the first hydro-electric power plants in Khopoli in 191, and in 1919, the second was built in Bhivpuri India. TPC is the largest power company located in Mumbai Maharastra. This corporation generates, transfers and delivers electricity using fuel and renewable resources such as hydropower, geothermal energy, wind, and solar, ("Tata Power," 2013). TCP employee over 200,000 people across India and is the country’s largest employer (Srivastava, Negi, Mishra, & Pandey, 2012). TPC has created the largest capacity of wind generation power, creating 300 megawatts (MW) and they are adding another 97 MW in the next few years. The 300 MW wind farm powers three areas of India: Maharashtra, Karnataka, and Gujarat. India’s first Ultra mega Power plant was built in Mundra and will create 4000MW, with five boilers that create 800 MW each. This company also created the first Rooftop Solar Photovoltaic (PV) system that is synchronized with the power grid, which they placed on their corporate office in Mumbai. This system creates 60 kW of power, additionally they have added other PV systems that have been operational since March 2011 ("Tata Power," 2013). TPC’s vision is to create affordable, clean, and plentiful energy to create economic growth in India and implement cutting edge eco-friendly technology. They want to make a difference and stay committed to improving the quality of life for all their stakeholders. They whole heartily believe that they need to communicate and work with their stakeholders so that they can make progress in advancing technology and strengthen their renewable energy range. Globally TPC has establis... ... middle of paper ... ...se study of TATAGroup. Journal of Business and Management, 3(5), 17-27. Retrieved from http://iosrjournals.org/iosr-jbm/papers/vol3-issue5/D0351727.pdf Sustainability at Tata Power . (2014). Retrieved from http://www.tatapower.com/sustainability/sustainability-tata-power.aspx Tata Power announces stand-alone and consolidated financial results for FY2010-11. (2011). Retrieved from http://www.tata.com/article/inside/WTe8DblUMVU=/TLYVr3YPkMU= Tata Power, corporate social responsibility & Rehabilitation and resettlement [Annual Report]. (2008-09). Retrieved from http://www.tatapower.com/sustainability/pdf/csr-annual-report-2008-09.pdf Tata code of conduct. (2013). Retrieved from http://www.tatapower.com/aboutus/code-of-conduct.aspx Wadia, J. (2011). The power to change. Retrieved from http://www.tata.com/ourcommitment/articlesinside/kEub!$$$$!Uo2Df0=/TLYVr3YPkMU=
Barclays plc: Socially Responsible Corporate Behaviour How does Barclays plc fulfil its obligations to their stakeholders in terms of ethical business practice and socially responsible corporate behaviour? According to The Institute of Business Ethics (cited in MORI, 2003), “80% of the public believe that large companies have a moral responsibility to society but 61% also thought large companies don’t care”. Why this shocking conclusion? Due to major accounting scandals such as Enron and WorldCom the public’s confidence in organisations have decreased.
Strengths and Weaknesses of the Sustainability and CSR Reporting According to the information disclosed in Annual Report 2016 of Tabcorp, this letter has discussed the sustainability reporting of Tabcorp by using triple bottom line reporting
One of Massey Energy Corporation’s future necessities in implementing greater corporate social responsibility is by clarifying that Massey values their employees, the community, and the well-being of our planet. Massey needs to gather their marketing team and create advertisements in commercials and magazines that let the community know that for 50 years, this company has focused on safety and professionalism while mining for coal in the Appalachian states. The company name might have left a bad taste in the mouths of many. This is why the advertisements also need to mention how Massey is constantly improving their procedures and strategies to ensure the safety of their beloved employees. They must also mention the importance of the safety of the surrounding communities and their plan for future environmental responsibility, all while creating local economic growth by creating jobs for the community.
When I think about social responsibility I think of one’s character. Character is based on morals and beliefs each person has. Knowing ones character is directly related to the type of social responsibility they maintain, therefore informing you of a person’s likely intentions. This holds true for a business. There is always someone behind every decision that is made, good or bad.
B. & Shabana, K. M., 2010. The Business Case for Corporate Social Responsibility: A Review of Concepts, Research and Practiceijmr_275 85..106. International Journal of Management Reviews, pp. 85-105. Chanthadavong, A. & AAP, 2014.
Business organizations regularly run into demands from various stakeholders groups when conducting day-to-day business. These demands are generated from employees, customers, suppliers, community groups, governments, and shareholders. Thus, according to Goodpaster, any person or group of people that can shape or can be shaped by attainment of the objectives by an organization is considered a stakeholder. Most business organizations recognize and understand their responsibilities to these groups and endeavor to honor and fulfill them. These responsibilities are often communicated to the public by a statement of principles or beliefs. For many business organizations, corporate social responsibility (CSR) has become an essential and integral part of their business. Thus, this paper discusses the two CSR views: the classical view and the stakeholder view. Furthermore, I believe that the stakeholder view has brought ethical concerns to the forefront of businesses, and an argument shall be made that businesses would improve both socially and economically if CSR, guided by God’s love, was integrated into their strategic planning.
Social responsibility is an ethical basis for organizations; they are required to act for the benefit of humanity in general. It is a responsibility that all individuals have to do to keep a sense of balance between the economy and every ecological system. This obligation can be passive, by evading involvement in socially harmful acts, or active, by doings things that directly advance social goals. In evaluating Company Q’s approach regarding social responsibility I can conclude that it isn’t responsible at all. Company Q is an undersized native grocery store in a major residential zone.
EESL, a public sector entity under Ministry of Power, has taken up the project of distributing LED bulbs under its flagship initiative, the Domestic Efficient Lighting Programme (DELP). The scheme is presently running in six states in India – Rajasthan, Delhi, Maharashtra, Uttar Pradesh, Andhra Pradesh and Himachal Pradesh and is rapidly expanding across all other states. The target of the DELP is to replace all the 77 crore incandescent bulbs sold in India by LEDs. This will result in reduction of 20,000 MW load, energy savings of 100 billion KWh and Green House Gas (GHG) emissions savings of 80 million tons every year.
In recent years, companies are becoming socially responsible and now stakeholders almost expect a company to have CSR policies. Therefore, in twentieth century, corporate social responsibility (CSR) became an important development in public life (Barnett, ND).Corporate social responsibility is defined as “the ways in which an organisation exceeds the minimum obligations to stakeholders specified through regulation and corporate governance” (Johnson, Schools and Whittington, N.D cited in March, 2012). Stakeholders can be defined as “those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends” (Johnson, Schools and Whittington, N.D cited in March, 2012). There are many purposes for this essay, the first purpose is to descried the key principles of corporate social responsibility and explain their importance for stakeholders. Secondly, is to show how far this company follows those principles in order to be accountable to at least three of its stakeholders. In this essay, three stakeholders, environment, customers and employees will be evaluated respectively and the key principles of the stakeholders will be examined.
In the article, The Truth About CSR by Kasturi Rangan, Lisa Chase, and Sohel Karim, the importance that coherence plays in corporate social responsibility (CSR), is emphasized. Throughout the article, corporate social responsibility application, within corporations, is broken down into three theaters. According to the article, many corporations do not focus on their CSR programs, and usually see these CSR actions as a secondary responsibility following the responsibility they hold towards their shareholders. It is argued in the article that in CSR is a key and essential block for corporate success, focusing on CSR coherence throughout all three theaters will bring positive results along the way, possibly making the corporation
AT&T’S Corporate Social Responsibility Views In the corporate world, it is important for businesses to be aware of human rights issues and ethics in regards to making the best choices for others and the community. It has been stated how corporate social responsibility “expresses an understanding that the business is responsible for all relevant institutions and stakeholders” (Cayiragasi, Guven & Ozpolat, 2016, p. 207). That being noted, my current occupation at AT&T has demonstrated several manners in which Corporate Social Responsibility has affected the community and environment. For this homework assignment, the programs that AT&T use to contribute to society will be addressed, along with the effectiveness of their programs.
In 2005, the Company set out on a 20-Year Strategic Plan with a definitive goal of changing into a world-class player by the year 2025. To bolster this vision, TNB puts essentially in the persistent expert improvement of its employees through structured programs. There is likewise replenished accentuation on sustainability, both of the association and of the Malaysian environment. The Strategic Plan involves more concentrate on green activities, for example, the improvement of renewable wellsprings of fuel, and more compelling demand side management by means of vitality effectiveness, in this manner supplementing the Government's carbon reduction agenda. As a government company, the company runs numerous CSR programmers that benefit the underprivileged through its foundation Yayasan Tenaga Nasional (YTN), this could places strong emphasis on its social responsibilities. (2015,
In 1997, the company received clearance from the Foreign Investment Promotion Board to issue preferential shares to US based MNC Investment Corporation for Rs. 400 Crore to help fund its acquisition of the Ahemdabad Electricity Company by purchasing the entire 28.89% stake held by the Gujarat government.[1] This acquisition formed what was then known as Torrent Power AEC Limited. Similarly, after acquiring the Surat Electricity Company in the same deal, Torrent Power SEC Limited was formed.
While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.” But such a concept has been much disputed since at least the 1970’s.
Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...