The Strategic Value of Corporate Social Responsibility (CSR): Leveraging ITC Group's CSR Strategy to Implement Its Sustainability Policy

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ACKNOWLEDGEMENT

I would like to thank almighty Lord for granting me the capability to proceed successfully. I would like to thank my supervisor, colleagues, and all those who helped me in completing this thesis, without their assistance and guidance this could not be possible. Last but not least, I would like to dedicate my thesis to all those who believe in the richness of learning

DECLARATION

I adjudge, the content of this dissertation is completely collected and done by unaided effort and the material in it, has not been published ever before. The opinion that is reflected in this dissertation is purely my opinion and does not represent any University's opinion.

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Dated:

ABSTRACT

In this research study, the CSR activities of the ITC group of India has been analyzed and discussed and find out how the CSR activities help the company in increasing its strategic value. Fro analyzing and discussing the attained data, mixed methodology was employed. In the mixed methodology, the qualitative research method was used and in that interview was conducted from the managers of ITC. The quantitative research method was used in the form of questionnaire. Thus, it can be concluded that by performing the CSR activities the organization can attain the competitive advantage and not only this, the company's strategic value can also be increased.

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

CHAPTER 1: INTRODUCTION1

Background of the Research1

CSR Types and Benefits2

Competitive advantage5

ITC Group5

Research aims and objectives6

Aim6

Objectives6

Research questions6

Dissertation layout6

CHAPTER 2: LITERATURE REVIEW8

Corporate Social Responsibility Overview8

Importance of CSR for Organizations and Society9

CSR Actions versus Corporate Social Responsiveness11

Corporate Social Responsiveness12

Regulatory Pressures and CSR actions12

Competitive Pressures and CSR Actions15

Organizational Culture and Corporate Social Responsiveness17

CSR Actions and Performance19

Applying CSR through Integration of Theory and Definition21

CSR in INDIA22

Phases, Models, and Generations of CSR in India24

Discourses of Sustainability and Inclusive Growth26

CHAPTER 3: METHODOLOGY29

Research Design30

Secondary Research Methods31

Qualitative and quantitative research method33

Instrument36

Target population36

Reliability and validity37

Validity38

Reliability40

Ethical Concerns42

Literature Search43

Keywords Used43

CHAPTER 4: ANALYSIS AND DISCUSSION44

Analysis of the questionnaire from employees46

Analysis of the interview responses55

Has your company adopted and implemented a code of ethics?55

Has the company gained the leadership its business by performing CSR?55

Does the CSR activities are helpful in increasing the strategic value of the company?56

How company is contributing towards the development of the community?56

CHAPTER 5: CONCLUSION AND RECOMMENDATIONS58

Recommendations61

REFERENCES62

BIBLIOGRAPHY66

CHAPTER 1: INTRODUCTION



Background of the Research

The new trend in the CSR practices of firms reflects a shift from quantity (degree) of CSR actions to quality of such efforts. Instead of maximizing the number of CSR issues addressed, firms are identifying key strategic issues that also align with their business actions. The company engages in ethical procurement practices, philanthropic donations, food donations and is also making special efforts to create employee awareness towards responsible actions (Epstein, 2001, 585). This has increased brand reputation and employee morale for the food giant. Along similar lines, a recent report stated that retailers like GAP Inc., Timberland, Nike, and Nordstrom use internal organizational strategies to streamline CSR efforts. They are increasingly adopting responsible purchasing practices and have made ...