Corporate social responsibility (CSR) can be defined as the "economic, legal, ethical, and discretionary expectations that society

has of organizations at a given point in time" (Carroll and Buchholtz 2003, p. 36). The concept of corporate social responsibility means that organizations have moral, ethical, and philanthropic responsibilities in addition to their responsibilities to earn a fair return for investors and comply with the law. A traditional view of the corporation suggests that its primary, if not sole, responsibility is to its owners, or stockholders. However, CSR requires organizations to adopt a broader view of its responsibilities that includes not only stockholders, but many other constituencies as well, including employees, suppliers, customers, the local community, local, state, and federal governments, environmental groups, and other special interest groups. Collectively, the various groups affected by the actions of an organization are called "stakeholders." Corporate social responsibility is related to, but not identical with, business ethics. While CSR encompasses the economic, legal, ethical, and discretionary responsibilities of organizations, business ethics usually focuses on the moral judgments and behavior of individuals and groups within organizations. Thus, the study of business ethics may be regarded as a component of the larger study of corporate social responsibility

Carroll and Buchholtz's four-part definition of CSR makes explicit the multi-faceted nature of social responsibility. The economic responsibilities cited in the definition refer to society's expectation that organizations will produce good and services that are needed and desired by customers and sell those goods and services at a reasonable price. Organizations are expected to be efficient, profitable, and to keep shareholder interests in mind The legal responsibilities relate to the expectation that organizations will comply with the laws set down by society to govern competition in the marketplace. Organizations have thousands of legal responsibilities governing almost every aspect of their operations, including consumer and product laws, environmental laws, and employment laws

The ethical responsibilities concern societal expectations that go beyond the law, such as the expectation that organizations will conduct their affairs in a fair and just way. This means that organizations are expected to do more than just comply with the law, but also make proactive efforts to anticipate and meet the norms of society even if those norms are not formally enacted in law

Finally, the discretionary responsibilities of corporations refer to society's expectation that organizations be good citizens. This may involve such things as philanthropic support of programs benefiting a community or the nation. It may also involve donating employee expertise and time to worthy causes.

Examples:

ICICI Bank Ltd The Social Initiatives Group (SIG) of ICICI Bank Ltd works with a mission to build the capacities of the poorest of the poor to participate in the larger economy. The group identifies and supports initiatives designed to break the intergenerational cycle of poor health and nutrition, ensure essential early childhood education and schooling as well as access to basic financial services.Thus, by promoting early child health, catalyzing universal elementary education and maximizing access to micro financial services, ICICI Bank believes that it can build the capacities of Indias poor to participate in larger socioeconomic processes and thereby spur the overall development of the country. The SIG works by understanding the status of existing systems of service delivery and identifying critical knowledge and practice gaps in their functioning. It locates cost effective and scalable initiatives and approaches that have the potential to address these gaps and supports research to understand their impact. This is undertakenin collaboration with research agencies, nongovernmental organisations (NGOs), companies, government departments, local stakeholders and international organisations. Infosys Technologies Limited Infosys is actively involved in various community development programs.Infosys promoted, in 1996, the Infosys Foundation as a not-for-profit trust to which it contributes up to 1%PAT every year. Additionally, the Education and ResearchDepartment (E&R) at Infosys also works with employee volunteers on community development projects. Infosys leadership has set examples in the area of corporate citizenship and has involved itself actively in key national bodies. They have taken initiatives to work in the areas of Research and Education, Community Service,Rural Reach Programme, Employment, Welfare activities undertaken by the Infosys Foundation, Healthcare for the poor, Education and Arts & Culture. ITC Limited ITC partnered the Indian farmer for close to a century. ITC is now engaged in elevating this partnership to a new paradigm by leveraging information technology through its trailblazing 'e-Choupal' initiative. ITC is significantly widening its farmer partnerships to embrace a host of value-adding activities: creating livelihoods by helping poor tribals make their wastelands productive; investing in rainwater harvesting to bring much-needed irrigation to parched drylands; empowering rural women by helping them evolve into entrepreneurs; and providing infrastructural support to make schools exciting for village children.Through these rural partnerships, ITC touches the lives of nearly 3 million villagers across India

6 Managerial StylesWant to know what the 6 managerial styles are and what they mean?Here goes! ** THE COERCIVE MANAGEMENT STYLE *

*Manager who uses this is intent on obtaining immediatecompliance from employees. Conversation is one way. Very directive. He/she tightly controls situations andemphasizes negative rather than positive feedback.The manager wants employees to do their work exactly as the manager wants it.

** THE AUTHORITATIVE MANAGEMENT STYLE **

The manager's goal here is to provide vision and focusedleadership. Long term thinking and a clearly stated direction.Decisions are made by the manager but some employee input issought to reality test decisions. This style also relies on theskillful use of influence to gain employee buy-in to decisions.A firm but fair approach.

** THE AFFILIATIVE MANAGEMENT STYLE *

*Manager uses this to promote harmony, cooperation, and goodfeelings among employees. Affiliative actions include accommodating family needs thatconflict with work goals, quickly smoothing tensions betweenemployees, or promoting social activities within the team. The manager pursues being liked as a way to motivate people. He/she puts people first and tasks second.*

* THE DEMOCRATIC MANAGEMENT STYLE *

*Manager focuses on building group consensus and commitmentthrough group management of the decision-making process.Requires a hands-off style and a heavy emphasis on teamparticipation. Employees are trusted to have the skills,knowledge and drive to come up with decisions to which everyoneis committed. Manager's role is only to fine-tune and approve the plan.

** THE PACESETTING MANAGEMENT STYLE **

Manager uses this style to focus on accomplishing a great dealof top quality work him-or herself. Employees are thoughtcapable of achieving their own goals with little supervision.When performance is not up to standard, the manager will do ithim- or herself. Emphasis on "Doing it myself"

** THE COACHING MANAGEMENT STYLE **

Directed towards professional growth of employees. Manager focuses on helping employees identify their strengthsand weaknesses, improvement areas and set development plans thatfoster career goals. Manager creates an environment that supports honest self-assessment and treats mistakes as learning opportunities in thedevelopment process.** Assignment **Do you use this style?What situations do you think it would be appropriate to use this style?What situations do you think it would not be appropriate to use thisstyle?

A manager's style is determined by the situation, the needs and personalities of his or her employees, and by the culture of the organization. Organizational restructuring and the accompanying cultural change has caused management styles to come in and go out of fashion. There has been a move away from an authoritarian style of management in which control is a key concept, to one that favors teamwork and empowerment. Managerial styles that focus on managers as technical experts who direct, coordinate and control the work of others have been replaced by those that focus on managers as coaches, counselors, facilitators, and team leaders. Successful management styles involve building teams, networks of relationships, and developing and motivating others. There is a greater emphasis on participative management styles and people management skills. Management theorists have repeatedly found evidence to support the advantages of management styles such as participative management; Total Quality Management (TQM); Management by Walking Around; Management by Objectives; and employee empowerment. Participative management involves sharing information with employees and involving them in decisionmaking. Employees are encouraged to run their own departments and make decisions regarding policies and processes. It has often been promoted as the quick cure for poor morale and low productivity. It is not, however, appropriate in every organization and at every level. Employees must have the skills and abilities to participate. Employees must have the technical background, communication skills, and intelligence to make decisions and communicate those decisions

effectively. The organization's culture must support employee involvement and the issues in which employees get involved must be relevant to them.Representative participation allows workers to be represented by a small group who actually participate. The goal of representative participation is to redistribute power within the organization. Employees' interests become as important as those interests of management and stockholders. Total Quality Management (TQM) is a management style that integrates of all functions of a business to achieve a high quality of product. The major hall-marks are customer satisfaction, quality as the responsibility of all employees, and teamwork. As an integrated method, it involves every aspect of the company. The entire workforce, from the CEO to the line worker, must be involved in a shared commitment to improving quality.TQM encourages employees to grow and learn and to participate in improvements, so it exemplifies a participative management style. TQM also encourages an everchanging or continuous process, and emphasizes the ideas of working constantly toward improved quality. Management by Walking Around (MBWA) is a classic technique used by good managers who are proactive listeners. Managers using this style gather as much information as possible so that a challenging situation doesn't turn into a bigger problem. Listening carefully to employees' suggestions and concerns will help evade potential crises. MBWA benefits managers by providing unfiltered, realtime information about processes and policies that is often left out of formal communication channels. By walking around, management gets an idea of the level of morale in the organization and can offer help if there is trouble. A potential concern of MBWA is that the manager will second-guess employees' decisions. The manager must maintain his or her role as coach and counselor, not director. By leaving decision-making responsibilities with the employees, managers can be assured of the fastest possible response time. Employee empowerment is a style of management that puts managers in the role of coach, adviser, sponsor, or facilitator. Decision-making is being pushed down to the lowest levels of the organization. The way work is designed and the way organizations are structured are changing. Empowerment involves delegating the decision-making authority regarding the action to be taken on a task that is considered to be important to both the manager and employee. The main reasons for implementing an empowerment program are to provide fast solutions to business problems; to provide growth opportunities for employees and; to lower organizational costs while allowing the manager to work on multiple projects. Self-managed work teams Employee empowerment led to the development of self-managed work teams. This management style delegates the authority to make decisions such as how to spend money, whom to hire, and what projects to undertake. Self-managed work teams are generally composed of 10 to 15 people and require minimal supervision. Xerox, General Motors, PepsiCo, Hewlett-Packard, and M&M/Mars are just a few organizations that have implemented self-managed work teams. According to Stephen P. Robbins, one in every five companies uses self-managed work teams.