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Corporate social responsibility (CSR) is the process by which businesses negotiate their role in society In the business world, ethics is the study of morally appropriate behaviors and decisions, examining what "should be done Although the two are linked in most firms, CSR activities are no guarantee of ethical behavior
CSR activities are important to and even expected by the public And they are easily monitored worldwide CSR activities help organizations hire and retain the people they want CSR activities contribute to business performance
Reduced costs Increased business leads Increased reputation Increased staff morale and skills development Improved relationships with the local community, partners and clients Innovation in processes, products and services Managing the risks a company faces
PepsiCo India water recharge project to benefit 10,000 in three Panipat villages
PepsiCo India water recharge project to benefit 10,000 in three Panipat villages
PepsiCo successfully introduces Direct Seeding Methodology to Panipat farming community to save 45 million liters of water in the first year Strengthens it Positive Water Balance Agenda aims to achieve positive water balance in key states The project has two legs - water recharge structures aimed to improve the water availability for neighboring community and Direct Seeding of paddy which helps reduce water consumption by one third in paddy cultivation. The projects benefited nearly 10,000 people in and around Panipat and recharge and save 220 million liters of water in 2010.
Impact The project created the potential to recharge more than 1 billion liters of water. It benefits nearly 12,000 community members through improved access to water, additional crops, increase in yield of rain-fed crops and the opportunity for a second cultivation cycle during the Rabi season due to improved availability of water. Water levels have visibly risen after years; old dry wells have water again and farmer incomes have improved by Rs. 20,000/acre. PepsiCo has also provided safe drinking water to Nagnath Vidyalaya, Wahegaon, by laying an underground pipeline, an overhead tank and taps
CONCLUSION
The concept of corporate social responsibility has gained prominence from all avenues. Organizations must realize that government alone will not be able to get success in its endeavor to uplift the downtrodden of society. The present societal marketing concept of companies is constantly evolving and has given rise to a new conceptCorporate Social Responsibility. Many of the leading corporations across the world had realized the importance of being associated with socially relevant causes as a means of promoting their brands. It stems from the desire to do good and get self satisfaction in return as well as societal obligation of business.