BRINGING SMILES ON THE FACES OF RURAL AMERICANS AN INITIATIVE BY MONSANTO

SUBMITTED TO DR,RAJUL SINGH

By Amrita Paramanik FT-10-818 Section B Pgdm(10-12)

INTRODUCTION AND IMPORTANCE OF CSR CSR, it generally referred to transparent business practices that are based on ethical values, compliance with legal requirements, and respect for people, communities and the environment. Thus, beyond making profits, companies are responsible for the totality of their impact on people and the planet. This is tantamount to saying that beyond profit, corporate bodies need to address issues of importance to the people and the environment. These themes (CSR) reflect in companys core values and impinge on its policies, strategies, decision-making and operations. In addition, different corporate entities tend to come with their own concepts of CSR which is reflected in their core values and their CSR interventions The concept of CSR has gained unprecedented momentum in business and public debates and has become a strategic issue which affects the way in which a company does business. Many organizations now include CSR as one of their core values. The CSR activities, which range from small donations to bigger projects, are usually directed at social welfare and environmental sustainability. Conglomerates and multinationals have set the pace for demonstrating their commitments to social and environmentally sustainable practices. Business houses are usually regarded as constructive partners in the communities in which they operate. Though they have been instrumental in creating employment, wealth, products and services, yet the pressure on businesses to play a role in social issues involving employees, stakeholders, society, environment and government is continuously increasing . Corporate Social Responsibility (CSR) contributes to the development in the country cutting across agriculture,capacity building, economic empowerment and provision of rural infrastructure in health, education and potable water; which make agriculture and rural development sector a major recipient of CSR interventions.

COMPANY OVERVIEW: Monsanto was founded in St. Louis, Missouri, in 1901, by John Francis Queeny, a 30-year veteran of the pharmaceutical industry. The Monsant Company (NYSE: MON) is a multinational agricultural biotechnology corporation. It is the world's leading producer of the herbicideglyphosate, marketed in the Roundup brand of herbicides, and in other brands. Monsanto is also the leading producer of genetically engineered (GE) seed; it provides the technology in 90% of the genetically engineered seeds used in the US market. It is headquartered in Creve Coeur, Missouri. It supports farmers in their mission to produce more while conserving more. Monsanto is a fortune 500 company headquartered at st.Louis Missouri,United States.It produces agricultural and vegetable seeds,crop protection chemicals,genetically modified crops etc having 21,876 employees over 66 countries.

VALUES AND CORE IDEOLOGY: Monsantos core values are aimed at developing INTEGRITY which is the foundation for all the activities they are involved in.Integrity includes honesty,decency,consistency and courage. They are committed to DIALOGE : ie listening carefully to diverse points of view and engage in thoughtful dialogue. They broaden their understanding of issues in order to better address the needs and concerns of society and each other. Besides this they ensure that information is available,accessible (TRANSPARENCY) They are result oriented, setting high performance standards for themselves as individuals and teams, simultaneously respecting and valuing people and upholding humanness and human dignity.Monsanto acknowledges that every individual brings different perspectives and capabilities to the team and that a strong team is founded on a variety of perspectives. They want individuals to dream, value differences, create and experiment in pursuit of opportunities and achieve leadership through teamwork. It is a professional company, committed to creating enduring value for the shareholder and for the nation. It has a rich organisational culture rooted in its core values of respect for people and belief in empowerment. Its philosophy of all-round value creation is backed by strong corporate governance policies and systems. They respect the religious,political,cultural and ethical concerns of people world over, creating clarity in the roles and accountability and building strong relations with customers and external partners. Theyre committed in doing their part. they are MONSANTO.

CSR FRAMEWORK & GOALS The MONSANTO FUND has a mission to do good and transform lives. As the philanthropic arm of the Monsanto Company, the Fund supports organizations and programs as varied as the places around the globe where Monsanto conducts business. The Funds goal is to improve the lives of people by bridging the gap between their needs and their resources, Monsanto is committed to supporting the sustainability and growth of the agricultural industry. This support ranges from more than $2 million spent daily on research and development to agricultural and science-based scholarships and partnerships with youth organizations and educational institutions to help develop leadership in science and agriculture.

In the U.S., every 26 seconds a student drops out of high school. Sixty-eight percent of 8th graders cant read at grade level. American students ranked 25th in math and 21st in science compared to 30 industrialized nations. Rural communities face these challenges, but with even fewer resources than urban areas . And more than 150,000 farm families call rural America home. Thats why Americas Farmers Grow Rural Education is giving farmers across the U.S. the opportunity to help support 14 million students in rural America, Through the Americas Farmers Grow Rural Education program, the MONSANTO FUND is going to invest $2.3 million in rural public school districts for projects focused on science and or math. Farmers can nominate a school district to compete for a grant of either $10,000 or $25,000. The more farmers that nominate a district, the more it demonstrates community support and strengthens the districts application. Grants are awarded based on merit, need and community support. In 2011, the Monsanto Fund piloted this program in Illinois and Minnesota. Eleven thousand farmers nominated their area schools, and 16 school districts were awarded more than $266,000. The Americas Farmers Grow Rural Education program is a way to help school districts with some of their unmet needs, said Deborah Patterson, Monsanto Fund president. We are proud to support our educational system and help grow the next generation. Education is the cornerstone of any successful community, and nothing is more important than helping to educate the next generation.

America's Farmers Grow Rural Education (AFGRE), a MONSANTO FUND PROGRAM, gives farmers in 1,245 counties across 39 states the opportunity to nominate their public school district to compete for a grant of up to $25,000. The America's Farmers campaign is an advocacy program celebrating U.S. farmers through communications, awards and special programs that highlight the importance of modern American agriculture. This campaign features real farm families doing what they do every day growing not only our food, but also our economy and our quality of life here in America. We're all connected to agriculture and its time we, as a nation, learn more about the industry that provides for us every day. Monsanto is proud to work alongside farmers as they work to provide food, clothing and energy for our growing world. And as a U.S.-based agriculture company, they believe it is their responsibility to help tell the real stories of America's farmers.

CONCLUSION AND RECOMMENDATIONS Corporate entities have contributed significantly to agricultural and rural development through their CSR activities . Their activities are however tilted towards rural development given the prominence of rural infrastructure in their CSR interventions. They have contributed to filling the gap where governments have not been able to do enough. The scope of their CSR activities include provision of extension services, agricultural inputs; and potable water, educational, roads, electricity, markets and health infrastructure.

Social responsibility is regarded as an important business issue of the companies irrespective of size, sector, business goal, location of the company. Because they are realizing that without socio-economic development of the local communities, there can be no stability and sustainability for doing business so as to compete with the global market. Most of the companies which design and implement CSR initiatives in the vicinity of their works cover entire community. A wide range of CSR initiatives ranging from income generation activities for livelihood, health check-up camps, mobile health services,education,adult literacy, agricultural development, provision of drinking water, management and development of natural resources, infrastructure facilities being carried out by these companies. Though the approach to work is generally shifting from philanthropic to welfare and sustainable development. Companies promote and implement CSR initiatives through Human Resource Departmnet, foundation or in partnership with NGOs, but do not have full fledged CSR department. CSR initiatives being implemented by the companies for rural development have a positive impact in overall development of society and their business. However, following points must be considered : y The company should have a dedicated CSR division with well trained, qualified and experienced professionals from social science i.e. Social Work, Sociology, Rural Development and Development Studies and management background for better planning, implementation and evaluation of CSR initiatives. CSR programmes being implemented by companies should be based on the felt-need of the local people so that their participation in the programme can be enhanced. Moreover, it is necessary to create jobs and economic activity in rural community with a view to uplift the masses.

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Social audit should be conducted by an external agency to assess the CSR performance of the company. Government can encourage economic players to consider ethical, social and environmental criteria. Government should play the role of motivator, enabler, facilitator rather than director of corrporate social responsibility. A annual report on Corporate Social Responsibility should be prepared to highlight the companys commitment for sustainable community development.