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Running head: DISSERTATION
The link between diversification and CSR - The case of Reliance India
Name of the Student:
Name of the University:
Author’s Note:

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Acknowledgement
Thank you to all of those who have helped listened and encouraged me throughout this study.
I am indebted to my supervisor ……………………. whose guidance, advice and patience
have been immeasurable. My sincere thanks to all members of the…………… [Mention your
university/college name], both staff and students, whose continuous support have made this
thesis possible.
I would like to thank all of the participants in the study: students, teachers and Local
Education Authorities, for the time and help given throughout. Without their participation,
this research would not have been possible. In this context, I am also thankful to them, whose
research work helped me to execute this paper well.
Finally, I thank my family, without whom this thesis would not have been started or
completed! Your encouragement and support have never faltered; thank you.

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Abstract
The primary aim of the research is to link between diversification and corporate social
responsibility by identifying different strategic approaches practiced within an organization
by referring to case study of Reliance India. Competition has taken a large leap across
different business and industry sector that have become a major concern for the business
entities operating within the specific sector and industry. Being socially responsible is highly
needed and required for the business organizations so that the surrounding environment, such
as the people and the planet is benefitted.
Reliance Industries Limited is an Indian conglomerate holding company headquartered in
Mumbai, Maharashtra. Reliance started mainly as a telecom sector but later diversified into
various sectors. The different sectors where Reliance operates now are energy,
pharmaceuticals, textiles, natural sciences and retails. As Reliance is operating across so
many business sectors, it is considered as one of diversified company with global recognition.
Reliance is one of the most profitable companies in India and the largest publicly traded
company according to the market capitalizations.
Being socially responsible is necessary for the business organizations and that can be
achieved only through performing sustainable approaches. Business is the main priority for
Reliance India that has helped the organization achieve success and position it possess in the
business sector. This gives rise to broad spectrum of issues that makes it difficult to achieve
the objectives of the business organizations and Reliance India is no different. The issues
related to corporate social responsibility that affects the performance of the business
organizations are the working conditions, corruption, gender equality, consumer taxes and
interests, surrounding environment, occupational integration and corporate governance.

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For this study, Interpretivism philosophy, deductive approach, explanatory research design
and case study research strategy. In support with that, secondary data collection process and
qualitative data analysis technique has been used. The aforementioned selected
methodologies are helpful for the ongoing research, as they facilitate considering the general
as well as specific corporate social responsibility projects that Reliance Industries Limited is
associated with while conducting business across specific and diversified business sectors.
From the data analysis, it can be said that Reliance India is the epitome of success when it
comes to business diversifications. From where the industries started to where it is now,
Reliance India has come a long way. Moreover, Reliance India is associated with different
CSR activities and initiatives with the aim of improving the surrounding. The CSR initiatives
that Reliance is associated helps in understanding the relationship among planet, profit and
people thereby, creating positives influences for the society. The CSR activities of Reliance
have helped in transforming the rural India followed by saving the environment by creating
energy from natural resources to educating women.

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Table of Contents
Chapter 1: Introduction..............................................................................................................9
1.0 Overview..........................................................................................................................9
1.1 Problem statement..........................................................................................................10
1.2 Research aim..................................................................................................................12
1.3 Research objectives........................................................................................................12
1.4 Research questions.........................................................................................................12
1.5 Research rationale..........................................................................................................13
1.6 Structure of the dissertation...........................................................................................14
1.7 Summary........................................................................................................................15
Chapter 2: Literature review....................................................................................................16
2.0 Overview........................................................................................................................16
2.1 Diversification of business organizations......................................................................16
2.2 Factors influencing business organizations to diversify................................................17
2.2.1 Avoiding downturns................................................................................................17
2.2.2 Competitive defence................................................................................................18
2.2.3 Organizational improvement...................................................................................19
2.2.4 Minimizing company risk and increasing stability.................................................19
2.3 Benefits of organizational diversification......................................................................20
2.4 Challenges of business diversification...........................................................................22

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2.5 Types of business diversification techniques.................................................................23
2.5.1 Concentric Diversification Strategy........................................................................23
2.5.2 Conglomerate Diversification Strategy...................................................................24
2.5.3 Horizontal Diversification Strategy........................................................................24
2.6 Concept of corporate social responsibility.....................................................................25
2.7 Different components of corporate social responsibility...............................................26
2.7.1 Philanthropic social responsibility..........................................................................27
2.7.2 Ethical social responsibility....................................................................................28
2.7.3 Legal social responsibility.......................................................................................28
2.7.4 Economic social responsibility...............................................................................29
2.8 Benefits of corporate social responsibility for business entities....................................29
2.9 Challenges of corporate social responsibilities for business entities.............................30
2.10 Research gap................................................................................................................31
2.11 Summary......................................................................................................................32
3. Business diversifications and CSR of Reliance India..........................................................33
3.0 Business diversification for Reliance.............................................................................33
3.1 Successful diversification of Mukesh Ambani compared to Anil Ambani....................36
3.2 CSR initiatives of Reliance Industries India..................................................................38
3.3 Positive impact of sustainable approaches and CSR activities undertaken by Reliance41
3.4 Relationship between business diversification and CSR activities................................43
3.5 Future CSR activities Reliance Industries India aims to undertake...............................44

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Chapter 4: Research methodology...........................................................................................46
4.0 Overview........................................................................................................................46
4.1 Research outline.............................................................................................................46
4.2 Philosophies of the research...........................................................................................46
4.2.1 Implementation of interpretivism philosophy.........................................................47
4.3 Approaches of the research............................................................................................48
4.3.1 Implementation of deductive approach...................................................................49
4.4 Designs of the research..................................................................................................49
4.4.1 Implementation of explanatory research design.....................................................50
4.5 Strategies of the research...............................................................................................51
4.5.1 Implementation of case study research strategy......................................................51
4.6 Data collection process..................................................................................................52
4.6.1 Implementation of secondary data collection process............................................53
4.7 Data analysis technique..................................................................................................53
4.7.1 Implementation of qualitative data collection technique........................................54
4.8 Ethical considerations....................................................................................................54
4.9 Accessibility issues........................................................................................................55
4.10 Summary......................................................................................................................56
Chapter 5: Data analysis...........................................................................................................57
5.0 Overview........................................................................................................................57
5.1 Thematic analysis...........................................................................................................57

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5.2 Summary........................................................................................................................66
Chapter 6: Findings and discussions........................................................................................67
6.0 Overview........................................................................................................................67
6.1 Interpretations................................................................................................................67
Chapter 7: Conclusion and recommendations..........................................................................73
7.0 Conclusion......................................................................................................................73
7.1 Linking with objectives..................................................................................................74
7.2 Recommendations..........................................................................................................76
7.3 Future scope of the study...............................................................................................77
References................................................................................................................................78
Appendices...............................................................................................................................96
Appendix 1...........................................................................................................................96
Interview questions..........................................................................................................96
Appendix 2...........................................................................................................................97
Interview transcripts.........................................................................................................97

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List of Figures
Figure 1: Evolution of CSR in India........................................................................................25
Figure 2: Components of Corporate social responsibility........................................................27
Figure 3: Business diversification between Anil and Mukesh Ambani...................................37
Figure 4: CSR Expenditure of Reliance Industries Limited....................................................40
Figure 5: Geographical reach of Reliance’s development initiatives......................................42
Figure 6: 5 P’s of sustainability...............................................................................................64
Figure 7: Key financial indicators............................................................................................65

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Chapter 1: Introduction
1.0 Overview
Competition has taken a large leap across different business and industry sector that
have become a major concern for the business entities operating within the specific sector and
industry. The business organizations are more concerned of providing a tough yet healthy
fight with the competitors rather than being socially responsible. According to McKenzie
(2015), business and profit are the topmost priority for the majority of the business
organizations, if the present industry and business sector are taken into consideration. The
business organizations are so engulfed into business and profit that they forget about their
responsibility thy need to endure in the society they operates.
The business organizations have departments and personals those develop strategies
for sustaining the competitive market. As mentioned by Lorek and Spangenberg (2014),
while developing strategies to sustain the competitive business sector, it is often seen that the
business entities have forgotten to be sustainable with the approaches they are developing.
Sustainable growth of the business organizations are needed and required. A business
organization can be said to have sustainable growth if the needs of both future and current
customers are fulfilled appropriately. As a result, the business organizations can behave
socially responsible by developing practices and approaches that helps in providing clear
organizational directions (Cheng, Ioannou and Serafeim 2014).
Being socially responsible is highly needed and required for the business
organizations so that the surrounding environment, such as the people and the planet is
benefitted. As commented by Grayson and Hodges (2017), corporate social responsibility is
defined as the sustainable business approach that contributes to the sustainable development
by ensuring and delivering social, economic and environmental benefits for all the

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stakeholders, both internal and external. A company is highly benefitted if they practice
corporate social responsibility suitability. Taking into account the tough competition in the
business sector, corporate social responsibility offers better brand recognition, positive
business reputation, operational cost savings, better financial performance, easier access to
capital, greater investors and organizational growth (Tai and Chuang 2014). As a result,
corporate social responsibility provides greater opportunity for the business organizations to
gain competitive advantage and sustain the highly competitive business and industry sector.
Reliance Industries Limited is an Indian conglomerate holding company
headquartered in Mumbai, Maharashtra. Reliance started mainly as a telecom sector but later
diversified into various sectors. The different sectors where Reliance operates now are
energy, pharmaceuticals, textiles, natural sciences and retails. As Reliance is operating across
so many business sectors, it is considered as one of diversified company with global
recognition. Reliance is one of the most profitable companies in India and the largest publicly
traded company according to the market capitalizations.
Reliance was founded in 1973 by Dhirubhai Ambani and currently has net income of
$5.7 billion. Reliance is ranked 148th on the Fortune Global 500 list that comprises of the
biggest corporations in the world. Reliance India is the highest income tax payer in the
private sector of India. Considering the business and profits that Reliance have achieved, this
research intends to investigate whether Reliance is able to achieve the success by ensuring
and implementing sustainable approaches or not (Ril.com 2019).
1.1 Problem statement
Being socially responsible is necessary for the business organizations and that can be
achieved only through performing sustainable approaches. Business is the main priority for
Reliance India that has helped the organization achieve success and position it possess in the

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business sector. Apart from business, social commitments and growth for the environment are
other aspects that are highly focused by Reliance India (Belal 2016). However, the issue that
have aroused in spite of giving top priority to business, environment growth and social
commitment is that whether the objectives of the business for Reliance India can be fulfilled
and achieved by considering corporate social responsibility. In addition to, the role of the
sustainable approaches for achieving the objectives of the business is another problem that
have been identified that is studied by referring to the business case scenario of Reliance
India (Amran, Lee and Devi 2014).
As known, CSR is developed and implemented for the benefit of the business
organizations by ensuring adequate benefits for the stakeholders, both internal and external
by eradicating the adverse effect of the activities. This gives rise to broad spectrum of issues
that makes it difficult to achieve the objectives of the business organizations and Reliance
India is no different. The issues related to corporate social responsibility that affects the
performance of the business organizations are the working conditions, corruption, gender
equality, consumer taxes and interests, surrounding environment, occupational integration
and corporate governance. Therefore, for Reliance India the CSR issues needs to be
considered thereby, enabling the company to achieve organizational objective and giving top
priority to the business, social commitment and environmental growth (Rao and Tilt 2016).
As known, the aim of Reliance India is to consumer business profits by conducting
business effectively in retail and telecom sector. However, while attaining the global best
practices and to become a leading power generating company, Reliance India need to develop
sustainable approaches where the main issue underlies (Ali, Frynas and Mahmood 2017).

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1.2 Research aim
The primary aim of the research is to link between diversification and corporate social
responsibility by identifying different strategic approaches practiced within an organization
by referring to case study of Reliance India.
1.3 Research objectives
The objectives of the research are:
 To understand the concept of corporate social responsibility and diversified
companies
 To critically analyse the different components of corporate social responsibility
 To investigate the general and specific CSR projects of Reliance India
 To study the relationship between the three principle aspects planet, profit and people
in Reliance India
 To examine the positive influences of CSR and sustainable strategies of Reliance
India
 To provide suitable recommendations for improving CSR activities undertaken by
Reliance India.
1.4 Research questions
The questions of the research are:
 What do you mean by corporate social responsibility and diversified companies?
 What are the different components of corporate social responsibility?
 What are the general and specific CSR projects of Reliance India?
 What is the relationship between the three principle aspects, planet, profit and people
in Reliance India?
 What are the positive influences of CSR and sustainable strategies of Reliance India?

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 What are the suitable recommendations for improving CSR activities undertaken by
Reliance India?
1.5 Research rationale
The research is significant because undertaking the research will provide an
opportunity to assess the relationship and link between diversification and corporate social
responsibility. Being successful in the respective industry sector requires showing
responsibility towards the society they are operating in for the business organizations and
Reliance India is no different. Undertaking the research will provide an opportunity to
develop a clear understanding about corporate social responsibility for companies operating
in more than one sector both nationally and internationally. Reliance India is a well-known
and globally acclaimed company in the world with mainly operating in the telecom and retail
sector (Casey and Grenier 2014). Undertaking the research enables to study the main
components of corporate social responsibility thereby, determining the role of sustainable
growth practices for Reliance India.
From the research, it can be known that as for Reliance India, the topmost priority is
business, how sustainable approaches and corporate social responsibility is helping the
company achieving the organizational objectives without being negligent towards the society.
This aspect can be studied in this research by investigating both general as well as specific
objectives of the company (DiSegni, Huly and Akron 2015). The aforementioned point is
necessary because this will help in gathering both direct and indirect information about the
corporate social responsibility of Reliance India projects thereby, determining the link
between CSR and diversified company such as Reliance India. As a result, the research will
help in knowing the sustainable approaches undertaken by Reliance India and showing their
responsibility towards the society along with fulfilling their business aim and objectives
(Kim, Li and Li 2014).

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In this study, the relationship between the three major aspects of corporate social
responsibility, people, planet and profit can also be determined that will help in analysing the
intention that Reliance India possess towards the society they are operating in. As a result, the
different CSR activities that Reliance is associated with can be studied thereby, judging the
appropriateness the social responsibility suitably. Therefore, it will provide an opportunity to
know that whether Reliance have become so successful only by giving top priority profit or
business or by ensuring sustainable approaches towards the planet and people adequately
(Habek and Wolniak 2016).
1.6 Structure of the dissertation
The entire dissertation is layered into six major chapters. The name of the chapters of
the dissertation is introduction, literature review, research methodology, data analysis,
interpretation, explanation, conclusion and recommendations. Each of the chapters in the
dissertation have crucial role to play in developing and completing the research successfully.
The chapter name introduction signifies that introducing the topic by providing adequate and
relevant information that acts as the foundation of formulating research aim and objectives. In
this chapter, the existing issue is also identified that is used for justifying the purpose of the
research thereby, laying a potential foundation of the research. After the introduction chapter,
comes the literature review chapter that is said to be the second chapter. In this chapter,
similar and highly relevant information from previously conducted studies are presented
thereby, ensuring critical analysis of the opinions and developing an enriched and quality
research investigation.
The third chapter is said to be the research methodology chapter that mentions each
tools those can be used while undertaking any research. Apart from mentioning, each tools
are defined and explained by highlighting their unique characteristics that differentiates them
from one another. This is followed by providing suitable reasons for opting for a specific

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methodological tool by aligning the justification with the current topic of the research. The
third chapter is followed by the fourth chapter, the data analysis chapter where data is
collected and analysed with the purpose of fulfilling the research aim and objectives thereby,
fulfilling the purpose of the current research suitably. Once the collected data is analysed in
this chapter, the fifth chapter is developed with the aim of comparing and contrasting the
findings with the information stated by different authors in the literature review chapter. The
last chapter is developed with the purpose of deducing suitable conclusion by highlighting the
crucial points followed by making suitable recommendations for mitigating the identified
issue successfully.
1.7 Summary
Thus, in this chapter, it can be summarized that the success of the business
organizations relies on the strategies they follow for operating. It is necessary for the business
organizations to develop and implement sustainable practices and approaches in an
organization to create a unique image in the eye of the customers. For this study, Reliance,
India is considered whose sustainable approaches are studied for analyzing the relationship
between diversification and corporate social responsibilities. As a result, the success of
Reliance India can be studied by determining the role of profit, planet and people in ensuring
sustainable approaches.

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Chapter 2: Literature review
2.0 Overview
The literature review chapter is developed with the purpose of collecting relevant
information those act as rich source of information for the future researchers and readers. In
addition to, developing literature review chapter appropriately is significant because this
helps in developing deeper understanding and better in-sight about the ongoing research
topic. For the current topic, the literature review chapter is developed that contains relevant
information about link between diversification and CSR by referring to the case study of
Reliance India. Both general and information specific to Reliance is included in the chapter.
The opinions and views are compared and contrasted that enabled in developing a data rich
chapter for the dissertation. The literature review is structured in such a way that the concept
of the two variables CSR and business diversification is studied followed by their types and
benefits and challenges they has to offer for the businesses.
2.1 Diversification of business organizations
Business diversification is a common phenomenon and strategy undertaken by various
business entities across different industry and sectors in order to include something new to
individual business. According to Chen and Jaw (2014), business diversification defined as a
corporate strategy that enables business entities to enter into a new and untapped market
where the organization does not operate currently. It is said that diversification is the most
crucial and risky approach undertaken because the business is a new comer and does not have
adequate experience and knowledge. However, as argued by Roberts (2018), business
diversification is said to be a strategic approach that facilitates organizational and business
growth and expansion by opening new possibilities for the business.

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Diversification is one of the four main growth strategies defined by Ansoff in 1957. It
was pointed out by Ansoff that the diversification strategy of a business stands apart from the
other three growth strategies significantly. This is because the other three growth strategies
can be obtained by business organizations with similar merchandising, financial and technical
resources but for achieving diversification successfully, businesses needs to acquire new
facilities, skills and techniques along with continuous perseverance, hard work and effort
(Chiang, Chen and Ho 2016).
As mentioned by Zeschky, Winterhalter and Gassmann (2014), the diversification
strategies developed and undertaken ensure significant increase in performance by the
business organizations when compared to past level of performance. However, business
organizations does not believe in following only one growth strategy but more than one
because it offers variations and options to them hereby, making them highly flexible.
Additionally, the potential risks associated with business diversification are potentially high.
The above information indicates that business diversification is a significant attribute that
needs to be incorporated that highlights the necessity of knowing the factors that influences
the requirement of diversifying business in modern era.
2.2 Factors influencing business organizations to diversify
As known, business diversification is practiced and followed by business
organizations operating across different industry and sectors. Additionally, the craze and need
of business organizations have increased recently, as the business environment have become
highly competitive and fierce. Successful business diversification is influenced by different
factors those are discussed below.

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2.2.1 Avoiding downturns
One of the conservative reasons of business diversification is to avoid major
repercussions when a business sector or industry encounters severe downturn. There might be
instances where the single business or single product cannot survive the market, as it is more
in demand among the target audiences. As mentioned by Karsono and Suprapto (2014),
successful business diversification can help the business organization to rely and conduct
business on other products and business thereby, avoiding downturns when the product or
business goes out of demand. Therefore, the business organizations are able to ensure
multiple revenue system and save the business from closing completely. However, as argued
by Gras and Mendoza-Abarca (2014), successful diversification is only possible when the
business organizations have adequate and appropriate resources, skills and technical skills.
On the other hand, another factor that influences the business organizations to opt for
diversification is to always be in demand among the target audiences and not perish out in the
competitive business market (Walsh and Cunningham 2016). Reliance India is a leading
example of a diversified company who that marked their presence across various business
sector though they set foot in the business world in the textile industry.
2.2.2 Competitive defence
The rate of competition across different sectors and industries has increased
significantly due to the rise of similar types of business ideas and products. The business
industries and sectors have become saturated that have given rise to fierce and high level of
competition. The only way to survive in the business environment is by gaining adequate
competitive advantage. According to Namada (2018), if a business organization in a specific
sector does not diversify successfully, the existing competitors will do thereby, threatening
their position. As a result, the business entity loses customers and sales and eventually
vanishes from the respective sector. However, as argued by Kumar and Pansari (2016),

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successful business diversification can help in gaining competitive advantage because new
market opportunities can be harnessed that enables standing out of the existing competitors.
Reliance India has gained competitive advantage successfully, as the company has
diversified into different sectors such as telecom, petroleum and supermarkets from textile.
As a result, the company has been able to harness new opportunities and increasing
customers and sales largely.
2.2.3 Organizational improvement
Business diversification also allows organizations to improve their performance in the
industry or sector where they operate. As mentioned by Valmohammadi and Roshanzamir
(2015), organizational performance improves due to business diversification because the
business profile and the appeal for the potential buyers increase significantly. The customers
and the stakeholders think that as the business organizations are operating across different
sectors and industries successfully, they are capable enough. Additionally, as the business
organizations venture into untapped areas highlights the capability of the business
organization to perform consistently. Business organizations improve because if one business
does not work appropriately, they can generate revenue and serve the customers from
business in other sectors. As a result, the business organizations do not fade out completely
from the market and the customers. However, as argued by Boutros and Purdie (2014), in
order to have a successful diversification and ensure improvement, business organizations
need to have expertise in the proposed area of diversification. Reliance has ensured
organizational improvement by doing successful business across the diversified sectors when
the textile industry failed to serve them appropriately.

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2.2.4 Minimizing company risk and increasing stability
Taking into account the tough competition and market saturation, fading out and
perishing is not difficult. If the business organizations are not able to provide what the target
audience and the industry sector demands, risk of being out of the league is evident.
According to Song, Li and Zeng (2015), business diversification reduces the risk that hivers
on a company and increases the stability by giving them opportunity to not to depend on a
single distribution channel. Business diversification enables the business organizations to be
ready with another plan and excise another sector rather than depending on the single one
thereby, reducing financial risk largely. However, as argued by Osadchy and Akhmetshin
(2015), stability is increased due to business diversification because revenue from multiple
sources is ensured along with avoiding depending on a single supplier. Reliance India is a
leading example of successful business diversification that highlights how risk can be
minimized and stability can be increased.
The above section highlights the different factors that help business organization in
varied ways by diversification. Hence, the benefits need to be critically evaluated for
determining the significance of the necessity for the business organizations.
2.3 Benefits of organizational diversification
Successful business diversification is a difficult thing to achieve for the business
organizations because they are new to that sector and lack adequate experience and expertise.
However, still business organizations focus and develop strategies for diversifying the
business constantly and consistently. According to Lin and Chang (2015), business
diversification is beneficial for the business organizations because it allows them to tap
market those are not explored thereby, increasing their reach. New market and more product
or service variety define diversification strategy. This is beneficial because more market
signifies more customers instead of depending on a single customer and increasing the

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overall turnover and sales. However, as argued by Poveda and Young (2015), as lack of
expertise and experience is a common thing while diversification, undertaking the strategic
approach requires suitable technical skills, resources and planning.
Business diversification is also beneficial because they have multiple revenue
streams. As mentioned by Andreou, Louca and Petrou (2016), as the business sectors are
competitive, relying only one source of generating revenue increasing the risk factor. This is
because if the current sector the business organization is operating in performs poorly and
fails to generate revenue, it can be overcome from other diversified businesses. Hence, the
business organization will be able to reduce the risk of running into loss and still sustain from
other available revenue streams or sources. However, as criticized by Ma et al. (2016),
business diversification provides the advantage of cross selling for the business entities. This
is because the business organizations can introduce their older products in the newly
harnessed markets or to a matured market.
Business diversification has become an integral part for the business organizations
because this offers competitive advantage for them. As opined by Ozkan-Canbolat (2014),
the constant change in the economic scenario results in changes in the spending patterns of
the target audiences and the market. Hence, by diversifying the business organizations are
able to establish a balance for the organizations during the bad times as well. As a result, the
unpleasant surprises associated with single investments can be tackled with successful
business diversification. Additionally, business diversification offers positive outcomes to the
business entities by using the underutilized resources to the maximum potential. However, as
argued by Aivazian, Qiu and Rahaman (2015), at certain instances, some industries might
encounter downfall for some time owing to economic factors where diversification act as a
savior by moving away activities those are declining. The positives that business
diversification offers are relatable with the business scenario of Reliance India, as the

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company have slowly yet steadily carved its path across various business sectors and have
emerged victorious.
Nothing comes without drawbacks or challenges and same is for business
diversifications as well. Diversifying a business is a complex process that organizations need
to work on at regular interval considering the fierce competition that persists in modern
business world. Hence, shedding light n the challenges help in knowing the circumstances
those may arise while diversifying a business and being prepared for handling such situations.
2.4 Challenges of business diversification
Though the need and significance of business diversification cannot be denied and is
highly evident, the challenges associated cannot be denied either. Business diversification
comes with its own set of challenges that imposes heavy loss on the entities that makes
sustaining and reviving difficult. As commented by Fosfuri, Giarratana and Roca (2016),
business diversification often results in diluted and mediocre investing and not quality
investing. This is because successful diversification is a major issue because the business
organizations lack adequate expertise and experiences in the new market they are venturing
into. In order to go with the flow and get things right, business organizations tend to make
investments those lack quality, durability, consistency, profitable and growth. As a result, the
business organizations lose resources, both financial and human due to failed diversification.
However, as argued by Markides (2015), business organizations having profit-making
segments tend to enjoy profit due to business diversification but a diversified entity will lose,
as limited investment is specific segment is present. This is because business diversification
restricts the growth opportunities for a business entity those are interested in diversifying the
business.

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As mentioned by Geissdoerfer, Vladimirova and Evans (2018), diversifying into a
new market requires and demands new set of skills, expertise and experience. As the business
entity tries to make a place into a market that they are new, lack of expertise in the new field
can prove to be a setback for the entire entity. Additionally, the business entities often make
inferior investment vehicles because of difference in operations among the business sectors.
Thus, a mismanaged business diversification can results in unsuccessful business
diversification thereby, imposing various types of risks on the entity that becomes difficult to
revive and overcome. However, as argued by Picone and Dagnino (2016), delay in
responding to market changes is also a potential challenge for diversified business entities.
This is because the focus on the operations are limited that restricts the innovation and
creativity within the organizations. Being rigid and lack of flexibility while business
diversification enforces the business organizations to perish because unable to respond to the
market and fulfil the demand gives an upper hand to the competitors thereby, threatening the
market position significantly. Reliance India is a leading example of understanding how
business diversification needs to be carried on and emerge victorious.
Once the benefits and challenges of business diversifications are known, researching
on the different types is necessary. This is because not all business organizations across
different sectors can diversify their business using the same technique. The organizations
need to identify their needs and abilities before selecting the technique for diversifying the
business.
2.5 Types of business diversification techniques
The strategic approach of business diversification is undertaken by business
organization when they intend to launch new products or services and conquer new and
untapped market and business opportunities. The different types of business diversification
strategies are concentric diversification strategies, horizontal diversification strategies and

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conglomerate diversification strategies. Diversification strategy has become a necessity
because it reduces the risk of business loss for entities by splitting into different categories of
products and services in different markets.
2.5.1 Concentric Diversification Strategy
Concentric diversification strategy is defined as the method of introducing new but
related products in the new markets. According to Kim et al. (2017), concentric
diversification strategy is suitable for business entities to compete where the rate of growth is
slower. This strategy is used by business organizations in order to increase the sales of the
current products by introducing new products by allocating competitively reasonable prices.
2.5.2 Conglomerate Diversification Strategy
Conglomerate diversification strategy is defined as the process where new products
are added in the chain of business entities those are not related to the previously existing
products. As mentioned by Eukeria and Favourate (2014), conglomerate diversification
strategy is used by business entities when they feel that sales and profit are declining on
yearly basis. However, as criticized by Gyan, Brahmana and Bakri (2017), conglomerate
diversification strategy is used when the business entities possess sufficient financial and
human talents for competing and making a position in the new industry successfully.
2.5.3 Horizontal Diversification Strategy
Horizontal diversification strategy is defined as the approach when new and products
those are not related are offered and launched by the existing customer base. As mentioned
by Li (2014), this diversification strategy is less risky because the current target audience is
exposed already thereby, increasing the revenue of the existing products as well. Under this
approach, the new products are marketed to the current target audiences with the existing
distribution channel.

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As the current research aim towards studying the link between business
diversifications and CSR, the following section is developed and structured so that different
attributes of CSR can be touched, discussed and critically analyzed for gathering adequate
information that aim towards achieving the ultimate purpose.
2.6 Concept of corporate social responsibility
A business needs to be socially responsible while conducting and operating the
business activities. According to McCahery, Sautner and Starks (2016), corporate social
responsibility is defined as the self-regulating business model that ensures that the business
entity is socially accountable to them along with being accountable for the people and the
stakeholders, both internal and external. However, as argued by Armstrong et al. (2015),
corporate social responsibility is also defined as a management concept under which business
entities include environmental and social concerns in their business concerns.

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Figure 1: Evolution of CSR in India
(Source: Ijltemas.in 2019)
The Act of Corporate Social Responsibility is mentioned by in India in the Section
135 Companies Act that came to force since April 1st in 2014. Thus, it is imperative for
business entities to have an understanding about their responsibility towards the society along
with their business, as consumers and stakeholders place high importance on CSR. Corporate
social responsibility ensures that the entities conduct their business ethically by taking
account and responsibility for their economic, social and environment along with considering
the human rights (Sauvant and Nolan 2015).
From the information above, it can be known that CSR is a significant aspect for the
success of the business organizations and needs to be followed by the organizations
irrespective of having a diversified business or not. This section is followed by discussing the

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different components of corporate social responsibility that businesses need to follow while
conducting business and being successful in the sector.
2.7 Different components of corporate social responsibility
Considering the imperative nature of CSR for the business organizations, the different
components of it are economic social responsibility, legal social responsibility, ethical social
responsibility and philanthropic social responsibility.
Figure 2: Components of Corporate social responsibility
(Source: Hack, Kenyon and Wood 2014)
2.7.1 Philanthropic social responsibility
As the term indicates, philanthropic social responsibility highlights all types of
business giving. According to Amaeshi et al. (2016), philanthropic social responsibility
highlights the discretionary or voluntary activities performed by the business organizations.
However, as argued by Petrenko et al. (2016), philanthropic social responsibility does not

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mean giving business in a literal way but expected to do good in a as everyday activity for
them. Thus, it can be said that philanthropic social responsibility is the responsibility of the
company to use their time and resources for contributing towards the betterment of the
community at a large scale that is meaningful for the business and the brand. The
philanthropic social responsibility suggests giving opportunities to the employees to
volunteer, donating money to charities and supporting multiple organizations in doing well
for the society or the ones relevant or meaningful to individual business (Hack, Kenyon and
Wood 2014).
2.7.2 Ethical social responsibility
Both economic and legal corporate social responsibility laid the foundation for
business entities to conduct ethical responsibility suitably. According to Zhu, Sun and Leung
(2014), ethical social responsibility signifies doing and indulging in the right things while
operating the business. This includes wide ranges of activities such as paying employees
rightfully and purchasing raw materials from suppliers in accordance with the labor laws.
However, as argued by Shafer (2015), ethical social responsibility is not limited to workplace
ethics only but also spreads environmental ethics. According to this, it is the responsibility of
the business entities to conduct business in such a way that the environment they are
operating in is not affected negatively. This can be done by using renewable energy and clean
energy by business entities.
2.7.3 Legal social responsibility
It is evident that customers purchase the products and services of companies that they
trust. As mentioned by Kahreh et al. (2014), abiding by the laws while regulating business is
one of the best ways in developing and maintaining trust among the customers. Compliance
by the laws helps in establishing trust among the target audience and ensuring a long-term
relationship. Business organizations can ensure legal social responsibility by paying taxes on

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time, adhering to the labor laws and supporting inspections when required. The negative
consequence of failing to ensure legal social responsibility results in complete shutdown of
the business thereby, affecting the reputation of the company (Omran and Ramdhony 2015).
2.7.4 Economic social responsibility
The initiation of economic social responsibility signifies being profitable. As
mentioned by Jamali and Karam (2018), before the business organization give back to the
society and the people, it should become sustainable on the individual basis. Being
sustainable indicates making profit for the shareholders and sharing with them as agreed,
paying taxes, paying the employees according to labor laws and meeting the financial
obligations without failure. Business organizations can show their economic social
responsibility by ensuring transparency with the associated stakeholders in respect to the
financial status of the business. The following section highlights the benefits and the
advantages CSR offers to the business organizations so that it is known by them the necessity
of abiding it.
2.8 Benefits of corporate social responsibility for business entities
Corporate social responsibility comes with its own set of advantages that cannot be
denied and imposes evident impact on the business entities in the long-run. As mentioned by
Mason and Simmons (2014), successful corporate social responsibility has the ability to
impose a positive impact on the community the business operates. If the business entities
keep in mind CSR, they are bound to conduct business ethically along with fulfilling their
responsibility towards the society, its people and the environment. In doing so, the
organizations, at certain instances changes the services or value chain that eventually ensures
better benefits to the communities. However, as argued by Chernev and Blair (2015), apart
from contributing positively towards the society, CSR encourages both professional and
personal development. Involving the employees in performing and getting indulged in the

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social responsibility, the employees are able to learn new skills that, in turn, can be used at
the workplace. As a result, the activities help in influencing the support and growth of the
employees along with attracting new talents and retaining the existing ones.
Apart from generating positives for the society, its people and the environment,
performing corporate social responsibility successfully offer several advantages for the
business organizations itself. As mentioned by Watson (2015), the CSR activities business
organizations associate them with needs to be open and outside oriented approach. The
business entities need to communicate with the customers and the stakeholders constantly
that in turn help the organizations to be the first one to be aware of about new business
opportunities. Successful association with CSR activities by the business organizations
provides suitable opportunity to save money. As opined by Park, Lee and Kim (2014),
business organization can ensure cost reduction significantly by hiring more efficient
employees and retaining them along with applying energy saving programs and less
investment in advertisement because the CSR activities itself speak and advertises the
company.
CSR is beneficial for the business organizations because the positive and social
responsibility speaks out loud that facilitate greater and easy access to capitals and investors
that help in organizational growth and improved financial performance. As a result,
eventually, the business organization and the brand develop better recognition that helps in
gaining competitive advantage and strengthening the market position (Jizi et al. 2014). The
following section highlights the challenges that organizations encounter while abiding by the
CSR so that the research is able to highlight the probable issues those may arise.

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2.9 Challenges of corporate social responsibilities for business entities
The existing and evident benefits of corporate social responsibility cannot deny the
own set of challenges that corporate social responsibility brings with it. As mentioned by
Scherer et al. (2016), the main challenge while associating and implementing corporate social
responsibility is human rights. Human rights impose serious challenge while implementing
corporate social responsibility because it is the responsibility of the employers to abide by the
human rights of the employees by taking into account the international standards. This is
where the business organizations fail miserably thereby, creating severe challenge for them.
However, as argued by Crane and Glozer (2016), it becomes difficult for the business
organizations to provide suitable working environment for the employees in spite of being
actively engaged in various CSR activities. This is because the business organizations fail to
monitor and keep an eye on the CSR activities undertaken by the business organizations both
inside and outside the company.
Another significant challenge that hinders successful implementation of corporate
social challenge is corruption. As mentioned by Wang et al. (2016), the existing corruption
leads to many laundering and covering up the instances that highlight that business
organizations are not abiding by their social responsibility. This happens due to existing
political connections among the head of the companies and the leaders of the political parties
that help in hiding such circumstances. As a result, entities conduct business without being
responsible towards the society, its people and the environment. As a result, different issues
such as unequal pay, gender discrimination and negative impact on the environment become
evident within the organizations that hardly come into notice. However, as argued by
Schmeltz (2014), whether the ultimate outcome of the CSR initiatives undertaken by the
organizations are reaching the appropriate one is also difficult to determine. This is because
of the multi-layered system that exists within the society and the big companies indulged in

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the CSR activities do not have direct contact with the bottom level stakeholders of the
charities they are associated with. It might happen that the intermediaries use the funds,
facilities and resources instead of using it for the actual purpose.
2.10 Research gap
Corporate social responsibility is a widely researched topic by the researchers over the
years by the researchers that have helped in knowing and developing knowledge about inside
out of the variable. However, the association of corporate social responsibility and business
diversification has hardly been studied in the past thereby, leaving a research gap. In the
current research, we intend to minimize the gap by studying the association between business
diversification and corporate social responsibility by referring to Reliance Industries India,
one of India’s most successful diversified companies with CSR and sustainable approach
being the vision of the company.
2.11 Summary
Hence, in this chapter, it can be summarized that business diversification is a
necessity that needs to be taken seriously and worked upon with appropriate technical skills,
resources and planning. Business diversification provide opportunities for the business
entities to gain competitive advantage and maintain their position in the industry or sector
consistently regardless of the ups and downs. However, while diversifying the business, the
entities need to keep in mind their responsibility towards the society, its people, the country
and environment. Reliance Industries India is a leading business entity with various
successful business diversifications along with ensuring suitable corporate social
responsibility.
The successful business diversifications and the CSR activities have helped the
company carve the path of success and reach where it is today compared to where it begun.

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The next chapter sheds light and discusses the business diversifications of Reliance India so
far and how they have fulfilled their corporate social responsibility with profit and capital
generated from each of their business diversifications. Reliance is a leading industry and
business in India that have diversified successful across various sectors from where they
begun by identifying and tapping the market trends those were in demand at specific times
and have delivered them successfully. The CSR activities Reliance is associated with have
only helped them in growing their business by attracting investors.
3. Business diversifications and CSR of Reliance India
3.0 Business diversification for Reliance
Reliance India is an Indian multinational conglomerate company with its head quarter
in Mumbai, Maharashtra and the business was founded in 1973 by Dhirubhai Ambani and
serves globally. The company has a revenue of US $90 billion crore with net income of US
$5.7 billion. Currently, Mukesh Ambani is heading the Reliance India and is ensuring that the
company is reaching greater heights in every sector they put their feet in. Reliance started
their business from the textile sector and has become the India’s largest private sector
enterprise with business across different sectors. The place where Reliance started its journey
to the place where Reliance currently is highlights successful business diversification
(Dhingra and Aggarwal 2014).
Reliance have followed a policy of timely diversification into untapped market and
opportunities yet profitable. After strengthening their position in the telecommunication
sector in 2002, in January 2006, Reliance intended to establish foot successfully in the retail
business through the subsidiary Reliance Retail Limited.
On March 2013, Reliance had 123 subsidiary companies with 10 associate companies.
The first of its kind is Reliance retail that is the retail wing of Reliance Industries. In March

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2013, Reliance India had an estimated 1400 and more outlets throughout India and is
considered as the largest retail chain in India. Reliance diversified into retail sector from
textile industry and developed various brands such as Reliance Digital, Reliance foot print,
Reliance Mart, Reliance, home kitchens, Reliance, time out, Reliance Super, Reliance
Wellness, Reliance Trends and Reliance jewel. Reliance not only made a successful foot in
the retail sector but offered variety of products and services to the customers. Reports suggest
that the annual revenue of Reliance in financial year 2012-13 was US $1.6 billion (Bain
2015).
The founder of the Reliance India releases statement that the company is set to enter
the electricity business along with re-entering telecommunication sector and adopting
diversification after scrapping its ties with Anil Ambani. After the separation of the business,
Anil Ambani inherited the Reliance Communications whereas Mukesh Ambani inherited
Reliance Industries that included oil and gas, textiles, retails and petrochemicals (Garai
2017).
Reliance also intends to set its foot in the chemical sector and seek to future proof its
hydrocarbon portfolio. This is because renewable energy is the latest need that environment
needs because of the depletion of energy sources has become a major environmental concern.
The founder of Reliance India, Mukesh Ambani says that the entire plan for increasing the
level of integration by adding new chemical chains and capacity is ready (Tripathi et al.
2017). Additionally, in this chemical sector, Reliance India intends to produce new materials
and composites of higher value for reducing the effect of electricity and renewable on
transportation fuels.
Reliance India is in talks for establishing the largest manufacturing manufacturing
facility for paraxylene, a principle raw material for making other industrial chemicals. With a

35DISSERTATION
capacity of 4.2 million tonnes, Reliance now holds the second spot among the paraxylene
producers globally. These business diversifications have helped in re-defining the oil-to-
chemical diversification that Reliance initiated in last phase of 1990 (Singh 2017).
The Petcoke gasification project will help in eliminating the dependency of the
refinery on imported natural gas thereby, adding value to the profitability. This is a
responsible initiative by Reliance considering the present environment scenario around the
world. This diversification of Reliance can be termed as a corporate social responsibility, as
the company intends to maximize oil-to-chemical conversions and upgrading fuels to high-
value petrochemicals. Reliance intends to initiate a joint venture with BP Plc with the aim of
starting gas production in 2020 and reach full production of 30-35 metric standard cubic
metres each day (Varma and Sharma 2015).
Reliance has also diversified in the life science sector that deals with plant, medical
and industrial biotechnology opportunities. This branch of Reliance specializes in
manufacturing, marketing and branding products of Reliance Industries in bio-
pharmaceuticals, regenerative medicines, novel therapeutics, biofeuls, clinical research,
industrial biotechnology, molecular medicine and industrial bio technology. Reliance
Institute of Life Sciences was founded by Dhirubhai Ambani Foundation that offers higher
education in different fields of life sciences and technologies related to it (Chinthala, Madhuri
and Kumar 2017).
In support to the diversifications that Reliance made in the field of life sciences,
Reliance Clinical Research Services has also been founded that is a contract research
organization and a wholly owned subsidiary of RLS that excels in clinical research with
major clients in medical, biotechnology and pharmaceutical companies. Additionally, another
diversification to Reliance Life Sciences is the establishment of Relicord that is a cord blood

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banking service in 2002. This is inspected and accredited by AABB with a valid license by
Food and Drug Administration, the Government of India (Mahalingam and Sharma 2017).
Another business diversification for Reliance India is Reliance Solar that is a
subsidiary of Reliance established with the aim of producing and giving solar energy systems
to rural and remote places. The range of products that this business diversification offers is
solar lanterns, water purification system, home and street lightning and solar air conditioners.
This is also considered as the corporate social responsibility undertaken by Reliance India, as
the principle agenda is to provide light, water and air to areas those cannot have access to it
due to varied reasons (Damle, Raval and Thenuan 2016).
From the various business diversifications that Reliance India have done over the
years and intends to do, the company has not forgotten their social responsibility associated
with it. Each diversified business of Reliance has something great and positive to offer for the
society, be it people, environment or society.
3.1 Successful diversification of Mukesh Ambani compared to Anil Ambani
Diversification of business is an important factor that cannot be denied because
provides better chances for the business entities to survive and compete in the business
sector. According to Alessandri and Seth (2014), successful business diversification comes
with their own set of benefits for the business entities in the long run mainly. However, as
argued by Saiti, Bacha and Masih (2014), in order to diversify the business successfully, the
business entities need to have and acquire appropriate resources, expertise and technical
skills. The success of Reliance Industries led by Mukesh Ambani is an example of successful
business diversification.
The founder of the Reliance India releases statement that the company is set to enter
the electricity business along with re-entering telecommunication sector and adopting

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diversification after scrapping its ties with Anil Ambani. After the separation of the business,
Anil Ambani inherited the Reliance Communications whereas Mukesh Ambani inherited
Reliance Industries that included oil and gas, textiles, retails and petrochemicals. After
splitting the business and fortunes, the two brothers at the helm of India’s wealthiest dynasty
have grown apart by an estimated cost of more than $40 billion (The Economic Times 2019).
The rate of success that Mukesh Ambani brought in for Reliance Industries is
commendable that signifies successful diversification of the business that he took control of
after parting ways from his brother. However, on the contrary, though owning a fortune by
taking ownership of Reliance Telecommunications, the business diversifications taken by
Anil Ambani were majorly unsuccessful because of lack of adequate technical skills,
expertise and resources along with lack of suitable planning that eventually led to over 400
Crore debt for Anil Ambani (Online 2019).

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Figure 3: Business diversification between Anil and Mukesh Ambani
(Source: Online 2019)
While Mukesh Ambani was getting success one after another for the different
business diversifications he was venturing into, things were completely opposite for Anil
Ambani. Successful diversifications allowed Mukesh Ambani to top Jack Ma’s Asia’s richest
man after bringing a telecommunication revolution in India followed by his diversifications
into petrochemicals, retails and healthcare thereby, making it to the $100 billion club. The
successful diversifications boosted the personal asset and fortune for the founder. However,
on the contrary, Anil Ambani had difficult year with some of his business diversifications
suffering liquidity and legal challenges due to which his personal fortune was reduced to half.
The successful business diversification of Mukesh Ambani highlights that Reliance’s strategy
to diversify beyond the energy sector acted as the biggest game changer of all time. The
ability to foresee and having a long 10 year vision helped Mukesh Ambani take Reliance
Industries to where it is today and he ensured that appropriate investments are made into
those sectors with required resources, expertise, planning and technical skills
(timesnownews.com 2019).
Along with successful diversification strategies, the principle aim of Reliance
Industries that Mukesh Ambani took care of is the responsibility towards the society.
Reliance Industries India led by Mukesh Ambani has ensured that each business they
diversify into should have something to contribute towards the betterment of the society, the
people, the planet and the environment. The successful association and conglomeration
between diversified business and corporate social responsibility can be understood by
considering Reliance Industries India. The vision of Reliance Industries India indicates using
sustainable measures for creating value for the nation thereby, improving the quality of life
across the overall socio-economic spectrum with the aim of spearheading India as a leader

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globally in the various business domains they operate. The vision statement of Reliance
Industries India itself speaks about the link between successful diversification and corporate
social responsibility (Forbes 2019).
3.2 CSR initiatives of Reliance Industries India
Corporate social responsibility is embedded in the long term business strategy for
Reliance Industries. The company believes in earning profit by fulfilling their social
commitment and responsibility in order to influence the holistic development of the people
and the communities. Over the years, the CSR initiatives the company is associated have
helped in touching and elevating people’s life by facilitating education, employment
opportunities and healthcare. The company aim towards maintaining the consistency building
corporate social responsibility with the vision of empowering the lives of the people along
with deepening the social engagements (Ril.com 2019). However, on the contrary, the
existing corruption in India has made it difficult for the company to succeed in the noble
cause and activities (Ril.com 2019).
The different corporate responsibilities that Reliance Industries Limited has been
associated with are rural transformation, healthcare, education, education infrastructure,
environment, protection of national heritage, arts and culture and disaster response and
culture.
Reliance Industries limited is working continuously and overriding on objectives that
help in creating values and ensuring growth in all sectors. The company has been seen to
work ambitiously in order to ensure that economic wealth is not limited to only the ones who
are privileged but to the marginalized sections of the society as well. The role of Reliance
Industries Limited in shaping up vision for India cannot be denied (India CSR Network
2019). In spite of being making successful business diversifications, the vision of Reliance

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have always been to create thriving eco-systems towards profitable growth and creating
societal value for the several stakeholders. Therefore, it can be said that Reliance goes an
extra mile and goes beyond business activities for creating societal impact through its diverse
initiatives across different diversified business sectors (Onlinejournal.in 2019).
In the course of the business years, Reliance Industries Limited has been involved in
different corporate social responsibility activities and initiatives. In 2010, all the initiatives
were brought under Reliance Foundation that is considered as the social sector initiatives of
the company.
Figure 4: CSR Expenditure of Reliance Industries Limited
(Source: Ril.com 2019)
As a part of the corporate social responsibility, Reliance Industries Limited took the
initiative of ensuring rural transformation by bridging the gap between the urban and rural
development gap. In doing so, the company have taken help of technology along with
focusing on mainly agriculture and marine fisheries and is currently working over 94,000
rural households. In transforming the rural India, Reliance Industries India is engaged in
improving the earning of livelihood, silaging with polypropylene flexible intermediate bulk
containers, For covering pomegranates polypropylene non-woven fruit covers are also
manufactured, offered social security for villagers of Balangir district by allowing them to

41DISSERTATION
buy insurance, food and nutrition security along with water security, rainwater harvesting and
leveraging knowledge and institution building (Ril.com 2019).
Reliance Industries Limited has been working tirelessly over the years to make quality
and affordable healthcare available for the Indian population. The model used by healthcare
facility of Reliance aim towards reaching out to the most vulnerable sections of the society
through awareness programs and healthcare camps. The main sector of healthcare where
Reliance intends to support maternal and child healthcare and share similar goals of United
Nations in achieving the Millennium Development Goals.
Over 3000 patients have been benefited by Reliance Anti-Retroviral Therapy Centre
that operates under Dhirubhai Ambani Hospital. Additionally, primary and preventive
healthcare, health camps, Reliance Foundation Drishti have emerged victories and successful
corporate social responsibility undertaken by the company. The Healthcare Foundation and
the University of Chicago are working towards an innovative collaboration that aim towards
using technology for clinical decision support, training and competency evaluation
(Csrbox.org 2019).
3.3 Positive impact of sustainable approaches and CSR activities undertaken by
Reliance
The CSR initiatives and activities that Reliance is associated with spread across India
and have helped in transforming the lives and communities throughout India with the various
diversified businesses. The diversified business sectors of Reliance are associated with
appropriate and suitable CSR initiatives and activities.

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Figure 5: Geographical reach of Reliance’s development initiatives
(Source: Philip 2019)
Reliance Industries Limited have undertaken a comprehensive approach towards
developing, increasing the impact of development by ensuring that it reaches the unreached
successfully. RIL have worked at the grassroots level that have helped in transforming the
lives of 20 million people and it still continues to strive and establish a more empowered
India (Philip 2019).
The three strategies that underlie the foundation of RIL’s social initiatives are
engaging the community directly, forging collaborations and partnerships and leveraging
power of the information technology. Reliance believes in inclusive economic growth and
this formed the base of the company’s CSR activities. The social contribution of Reliance in
transforming the rural India is huge. While discussing the activities that RIL have done for
the framers of India, the lives of farmers those were under privileged and were neglected
majorly, rural transformation have helped in improving the quality of life for them.

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According to Businesstoday.in (2019), livelihoods of more than 1200 million farmers,
livestock owners and fisher folk were improved with over 4.8 million since inception. The
establishment of VRA’s for the farmers gave them a platform to voice their opinions and
needs followed by drawing attention and developing individual lives as well as the lives of
the communities. It has been seen that the establishment of VRA’s for the farmers have
helped them change their lives drastically thereby, leaving a significant positive impact on
them. In transforming the rural community, RIL helped in eco-consistent soil conservation
that resulted in bringing more than 7,000 Ha of land under sustainable agricultural practices
that estimates over 64,000 Ha since inception (Businesstoday.in 2019).
RIL’s initiative and contribution in the field of education have left a huge positive
mark on the lives of young and under privileged yet talented children. This is considered to
be a huge and positive impact that Reliance have left on the youth and preparing them for the
betterment of the country’s future. RIL have provided scholarship under the Dhirubhai
Ambani Scholarship program and so far the Foundation have successfully provided financial
support to 11,781 meritorious students so that they can complete their graduation and
education uninterruptedly (The Economic Times 2019). Even more empowering is that half
of the students under the DAS program are girls whereas one-fifth of them are children with
special abilities. In 2017-2018, DAS supported the education of 423 students across India and
the contribution in the field of education by Reliance spreads in remote village as well. The
Protsahan Scheme in East Godavari in Andhra Pradesh offered scholarships to students from
villages located around the plant.
Additionally, more than 280 students were also provided scholarships for pursuing
higher studies. Reports suggest that with various educational programs, RIL have till date
supported the educational scholarship of more than 13,000 students (Ril.com 2019).
Supporting so many lives with education is a huge positive impact that Reliance left on the

44DISSERTATION
lives of the youth thereby, aiming towards strengthening the future of the country. Apart from
education that helped in leaving significant positive impact on the lives of the youth, the role
of Reliance Industries Limited cannot be denied in improving the lives of several people
affected by natural disasters. Be it flood in Assam and Gujarat or support during Ockhi
cyclone, Reliance has never failed in contributing and helping significantly.
3.4 Relationship between business diversification and CSR activities
The policy of Reliance Industries Limited supports social improvement and
betterment for the people, the planet and money. The CSR policy developed by RIL is based
on the agenda of enabling lives, living and livelihood for a stronger and inclusive India. The
mission of RIL stated by Founder Chairman Dhirubhai Ambani highlights that the company
aim towards continuous growth as a responsible organization with believe of enriching lives
of those around them (Kolk 2016).
The business diversifications by Reliance Industries Limited has been highly
benefitted by the CSR initiatives and activities the company has been associated with in
transforming India for the better. Conducting CSR activities and extending helpful to the
people and community in need on such a large scale have helped RIL build positive and
exceptional brand reputation that attracted several investors and financial opportunities those
in turn were used by the company for both improving business and community lives
significantly (Cho, Chun and Choi 2015). However, on the contrary, it is often challenging
for Reliance Industries Limited to know whether the fund allocated has been used for the
actual purpose or misused (Gebauer and Saul 2014).
3.5 Future CSR activities Reliance Industries India aims to undertake
Apart from the past and ongoing corporate social responsibilities undertaken by
Reliance Industries Limited intends to continue and invest on such initiatives. In terms of

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improving the rural communities, RIL is emphasizing to build capacities for the communities.
The Foundation encourages participation of the communities for decision making and
planning by intervening the formation of Village Farmer’s Association (VFA’s). The
formation of such VFA’s is aimed so that the farmers can participate thereby, facilitating both
individual and community development. In the future, the Foundation also aims towards
training the farmers in best practices in such a way that they are adopted and undertaken. The
program promotes in involving the women and the marginal farmers from villages so that
they can use the VFA’s to voice their opinion for their betterment (Businesstoday.in 2019).
In the healthcare sector, Reliance is aiming to work in collaboration with University
of Chicago in future, so that technological advancements can be included in improving the
healthcare sector of India. Though the healthcare sector of Reliance is a business
diversification that the company made, the company has used it responsibly and intends to
use it responsibly as well in the future. For improving the clinical diagnosis process, the
collaboration between the Foundation and the University of Chicago aim towards using
technology innovatively. The training will help the doctors to make decisions in real-time and
evidence-based decision making (Ril.com 2019). This program will have cloud based
software applications for training the medical professionals through virtual patients and state-
of-art clinical reasoning tools. This initiative that the Foundation wants to make in the future
will help in minimizing diagnostic errors thereby, saving millions of lives globally. In India,
Reliance intends to make the facility available for the people in the future in Sir HN Reliance
Foundation Hospital and Research Centre in Mumbai (The Economic Times 2019).
In accordance with their CSR initiatives, the Foundation, in the future aim towards
improving the quality of life for India’s fast growing urban areas. In doing so, the Foundation
have been actively engaged and associated in investigating the various transformative
approaches of public spaces and plans to partner with local municipal bodies for undertaking

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urban planning and enhancing the quality of the public spaces (The Economic Times 2019).
From the future plans of Reliance Industries Limited, it can be said that though the company
have diversified successfully, they have never forgotten their responsibility towards the
society and have stuck to their vision of adding values for the nation, society, its people, its
economy and the environment by making India as a global leader in the world platform (India
CSR Network 2019).

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Chapter 4: Research methodology
4.0 Overview
The research methodology holds utmost significance while working on any
dissertation. The principle characteristics reflected in this chapter is the mention of different
methodological tools by unpeeling the research onion accordingly. Each of the
methodological tools is mentioned, defined along with the focusing on their distinctive
characteristics. This helps in selecting the most appropriate one in accordance with the topic
of the research. For the ongoing research, link between diversification and CSR by referring
to the case study of Reliance Industries Limited, the list of suitable methodologies are
selected and justified suitably. The ethics relevant to the topic is also mentioned because
abiding by the ethics is necessary for completing the dissertation successfully. Additionally,
the limitations encountered while working on the research is also not left unattended.
4.1 Research outline
This section summarizes the methodological tools those are used for determining the
link between diversification and corporate social responsibility by referring to the leading
industries in India, Reliance Industries Limited. Interpretivism philosophy, deductive
approach, explanatory research design and case study research strategy. In support with that,
secondary data collection process and qualitative data analysis technique has been used. The
aforementioned selected methodologies are helpful for the ongoing research, as they facilitate
considering the general as well as specific corporate social responsibility projects that
Reliance Industries Limited is associated with while conducting business across specific and
diversified business sectors.

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4.2 Philosophies of the research
Developing an understanding about the research philosophies is necessary because it
deals with the development of nature and knowledge. It is necessary because it helps in
deciding the selection of research strategy. Selected research philosophies help in influencing
existing assumptions regarding the way one looks at particular things. Appropriate research
philosophy impact the way of understanding things as well as the way of investigating it
(Mackey and Gass 2015). Interpretivism, pragmatism and positivism are the three
philosophies in research that is implemented according to their suitability. Pragmatism
philosophy consist the unique characteristics of both interpretivism and positivism
philosophies. As a result, the use of pragmatism philosophy is less noticed compared to the
other two philosophies.
Positivist philosophy is the philosophical stance of the natural scientist. According to
Kumar (2019), positivist philosophy deals with making logical observations by using of
knowledge with facts those are supported by facts. Additionally, the positivist philosophy
also allows making the observations those can be supported using statistical data and
scientific approach. Moreover, it can be seen that positivist philosophy is the most
appropriate one for investigating human and social behavior due to metaphysical speculation.
On the other hand, both phenomenology and symbolic interactionism comprises to form the
interpretivism philosophy. This philosophy adopts an empathetic stance for studying the
research topic (Flick 2015).
4.2.1 Implementation of interpretivism philosophy
For studying the link between business diversification and corporate social
responsibility of Reliance Industries Limited, interpretivism philosophy has been the most
appropriate. From the information collected about the unique characteristics of interpretivism
philosophy, the appropriateness can be justified because the philosophy facilitates studying

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complex business situations. Interpretivism philosophy help in understanding the topic,
business diversification and CSR of Reliance separately and making observations by taking
the mind set and opinion of different authors (Bresler and Stake 2017). Using interpretivism
philosophy has allowed considering the mindset and views of different authors regarding
CSR, its roles, benefits and challenges and comparing it with the current situation of Reliance
Industries Limited while conducting business diversification. Interpreting the views from
different sources and about different authors help in developing a data enriched chapter with
valid and reliable information regarding CSR initiatives and diversifications the company is
currently associated with and intends to be associated with (Ledford and Gast 2018).
4.3 Approaches of the research
Selecting the most appropriate research approach is necessary because it deals with
reviewing and investigating the existing theories based on the latest findings. Having a deep
understanding about the research approaches is necessary because it allows ensuring greater
emphasis on the pertaining issue within the research and making suitable strategies for
solving the problem. The two different research approaches include inductive and deductive.
From the term inductive, it can be said that the core idea of inductive approach is to develop
and formulate new theories, concepts and ideas. The observations made by the researcher
develop the base of the inductive approach. Due to this nature, inductive approach is prone to
mistakes because observations might differ from individual to individual giving rise to
several theoretical perceptions and opinions (Fletcher 2017).
On the other hand, as the name deductive approach suggests, in this case, relevant
observations are drawn by using already existing pieces of information, theory and concepts
those are existing. Deductive approach help in developing better understanding and
developing a data enriched work with greater in-depths and in-sights. After referring to the
information those are already existing, appropriate and relevant observations are being made

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thereby, converting general information to specific information. As the information referred
to while using deductive approach are already proven and tested, the observations drawn are
correct (Taylor, Bogdan and DeVault 2015).
4.3.1 Implementation of deductive approach
For studying the link between business diversification and corporate social
responsibility of Reliance Industries Limited, deductive approach has been the most
appropriate. From the information collected about the unique characteristics of deductive
approach, the appropriateness can be justified because the approach helps in transforming
general information to specific information. Like, views and opinions of different authors in
the past about corporate social responsibility have been considered for this study that have
been discussed by relating it to the current business scenario of Reliance Industries Limited
(Quinlan et al. 2019). In doing so, the significance, its role and challenges that CSR imparts
for RIL can be analyzed and discussed. In addition to, deductive approach is suitable for this
research because existing information in terms of business diversifications can also be
referred to and examines the current status of Reliance Industries Limited. Thus, the ultimate
aim of the research of determining the relationship between business diversifications and
corporate social responsibility by referring to the case study of Reliance Industries Limited
can be achieved (Humphries 2017).
4.4 Designs of the research
Selecting the most appropriate designs for investigating any research is necessary
because this facilitates developing greater in-sights about the topic. Three designs of the
research are exploratory, descriptive and explanatory. Each of the research designs have
unique characteristics those separate one from the other one even based on the slightest of the
difference. From the term exploratory, it can be understood that this design explores or
identifies. In doing so, the application of exploratory research design encourages either

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exploring or identifying the issue that persist within a research. Thus, identifying the issue
allows developing the entire research revolving around the problem and ultimately answering
the problem (McCusker and Gunaydin 2015).
On the other hand, explanatory research design highlights another aspect of research
design. This design type helps in understanding the cause and effect relationship between the
two variables within the research topic. As a result, implementing explanatory research
design facilitates detailed explanation of the variables and its role and impact on the one.
Apart from these two, descriptive design is also highly used while doing researches because
of the dual characteristics it possesses. For descriptive design, identification of the issue as
well as studying the cause and effect relationship both can be studied thereby, making the
design highly preferred (Dumay and Cai 2015).
4.4.1 Implementation of explanatory research design
For studying the link between business diversification and corporate social
responsibility of Reliance Industries Limited, explanatory design has been the most
appropriate. From the information collected about the unique characteristics of explanatory
research design, the appropriateness can be justified because the research design help in
studying the cause and effect of the two variables of the study. In doing so, explanatory
research design is the most suitable because the current situation of Reliance Industries
Limited can be investigated in terms of business diversification and corporate social
responsibility and the relationship between the two (Alvesson and Skoldberg 2017).
Implementation of explanatory research designs explains the role of corporate social
responsibility and business diversification for Reliance Industries Limited along with the
benefits and the associated challenges separately and in detail. As a result, the cause or need
of business diversification for Reliance Industries Limited from where it started could be

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identified and the relationship with corporate social responsibility can be determined and
studied deeply (Smith 2015).
4.5 Strategies of the research
Strategies of the research are an integral part and needs adequate focus because this
helps in outlining the overall action plan of the research. The different strategies of a research
are interview, survey, action research and case study and grounded theory. Each of the
research strategies are highly distinctive in nature those supports various ways of collecting
relevant information. As mentioned by Gabriel (2015), action research is defined as the
research strategy that revolves around identifying the issue and finding solutions to that issue.
However, action research fails to consider the reasons that led to the emergence of the issue.
However, for interview and survey, the nature of the strategies is considerably
different. Both interview and survey believes in collecting data from a selected population
and are the most commonly used research strategies in business and management research.
The data collected using these two research strategies are highly economical and have
authority among the people for answering and are easy and understand and explain. The only
difference between interview and survey are that in interview data is collected from a small
population whereas in survey the population size is large (Attia and Edge 2017). Grounded
theory research strategy operates inductively and begins with a question and with data that is
collected qualitatively. Case study research strategy is another research strategy in which
relevant information is collected by referring to similar cases or researches conducted in the
past (Hickson 2016).
4.5.1 Implementation of case study research strategy
For studying the link between business diversification and corporate social
responsibility of Reliance Industries Limited, case study research strategy has been the most

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appropriate. From the information collected about the unique characteristics of case study
research strategy, the appropriateness can be justified because the strategy have allowed to
refer to researches conducted on corporate social responsibility in the past and gather
information like its role, significance, need and challenges and relate it to the leading industry
of India, Reliance Industries Limited (Antwi and Hamza 2015). In addition to, case study
research strategy enables referring to the business scenario of Reliance in the past and in the
present thereby, reasoning why Reliance diversified their business from where they started
and how the company have incorporated various corporate social responsibility activities or
initiatives in transforming India into a global leader by performing business diversification
and CSR roles simultaneously (Sessler and Imrey 2015).
4.6 Data collection process
Choosing the most appropriate data collection process is crucial because it encourages
and facilitates the collection of most relevant information that helps in developing the
research. Additionally, selecting appropriate data collection process is necessary because it
results in increased credibility of the current research. The only two data collection processes
are primary and secondary data collection processes. The source of collecting data
distinguishes between primary and secondary data collection process. As the terminology
indicates, primary data collection process means gathering data that is relevant to the research
topic for the first time. In doing so, recent and updated information about the topic can be
collected thereby, developing a more recent research. However, primary data collection
process is time and effort consuming because everything needs to be done from scratch
(Pruzan 2016).
On the other hand, as the terminology indicates, secondary data collection process is
defined as the process where data is collected from sources those are already existing. Hence,
various internet facilities, books, journals and articles and organizational websites are

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considered secondary sources from where relevant data are collected. As the data collected
are already published and not collected for the first time, it saves time and effort thereby,
making the process cost-effective and time efficient. However, on the contrary, the only
drawback is that recent information cannot be collected in this process that questions the
credibility of the information used (Mohajan 2018).
4.6.1 Implementation of secondary data collection process
For studying the link between business diversification and corporate social
responsibility of Reliance Industries Limited, secondary data collection process has been the
most appropriate. From the information collected about the unique characteristics of
secondary data collection process, the appropriateness can be justified because the process
supports and encourages collecting data from already existing pieces of research and work.
Hence, using secondary data collection process allowed referring to the various CSR related
reports of Reliance Industries Limited collected across various websites (Fox and Alldred
2015).
The CSR and sustainability reports of Reliance can be studied and referred to for
understanding the link between business diversification and CSR. In addition to, the business
diversifications of Reliance over the years, from where it begun to where it is now can also be
gathered using the already published reports by Reliance Industries Limited over the years.
The simultaneous performance of Reliance is terms of business diversification and specific
and general CSR initiatives and projects and Reliance can be studied and collected using the
secondary data collection process. Additionally, collecting data from the higher management
and Board of Directors of Reliance Industries Limited was not possible because of the highly
confidential nature of the data that is required (Thomson and McLeod 2015).

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4.7 Data analysis technique
Collecting the data is not the end of developing a successful dissertation. The data
collected needs to be analyzed using the most appropriate analysis technique thereby,
completing the work successfully. The two data analysis techniques are qualitative and
quantitative data analysis technique. As the terminology indicates, quantitative data analysis
technique encourages analyzing and representing the data in terms of numbers and
percentages. Additionally, the opinions and views are also presented using numerical format
such as bar graphs and pie charts (Goldberg et al. 2017). On the other hand, data analysis
technique encourages analyzing and interpreting the data in terms of comparing and
contrasting the views and opinions of different authors talking about similar research topic
(Emerson 2015).
4.7.1 Implementation of qualitative data collection technique
For studying the link between business diversification and corporate social
responsibility of Reliance Industries Limited, qualitative data analysis technique has been the
most appropriate. From the information collected about the unique characteristics of
qualitative data analysis technique, the appropriateness can be justified because the technique
helped in analyzing and interpreting the information about business diversification and
specific and general CSR activities and initiatives that is Reliance Industries Limited is
currently associated with (Basias and Pollalis 2018).
4.8 Ethical considerations
Non-compliance with the ethics of the research needs to be avoided and must not be
encouraged. Any such instances can lead to the failure of the successful completion of the
ongoing research. As the ongoing research is based on secondary data collection process,
collecting data from original sources is one of the significant ethical considerations. Abiding
by this research ethics ensure that the information included in the research are original and

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relevant and can be relied on for further investigations (Sunderland et al. 2015). On the other
hand, presenting the data without any manipulation is also against the ethics of the research.
According to this ethics, information about business diversifications and corporate social
responsibility activities and initiatives of Reliance Industries Limited needs to be presented in
this study the way it is being collected. This help in assuring data reliability and validity
thereby, ensuring that it can be used by others in the future (Mackey and Marsden 2015).
The information collected for completing this study needs to be used for this
academic use or other academic use. However, the information cannot be used for
commercial purposes and doing so is a major research ethics that can even result in failure of
completing the work successfully. Other than that, harming or destroying while proceeding
with the on-going research is also against the ethics of the research and raises questions
related to the quality and credibility of the research (Meyer and Morin 2016).
4.9 Accessibility issues
Issues while proceeding with the research emerged that gave rise to some hurdles in
completing the research. The main issues those emerged while proceeding with the current
research are inadequate time, limited budget and data collection process. Less and limited
opportunities were available to meet with project supervisor due to which it became difficult
to know whether the ongoing research is proceeding in the right track or not. This limitation
brought in another limitation associated with it, that is, minimized the scope of extensive
research. Moreover, restricted budget prohibited to gain access for certain internet facilities
that otherwise had some of the highly relevant information.
Apart from the above two, the data collection process highlighted its own set of
challenges. Considering the nature of the study, secondary data collection has been
appropriate and not primary. However, as primary data collection process cannot be used,

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information about recent business diversifications about Reliance Industries cannot be
gathered. Additionally, collecting information about the upcoming CSR activities that
Reliance intends to begin also cannot be known because gathering data from the higher
management of Reliance was not possible. As a result, the existing information has only been
used for working on the current research topic from different secondary sources.
4.10 Summary
Hence, in this chapter, it can be summarized that the list of methodological tool
selected for the ongoing research topic are the best suited and highly relevant. This provides
opportunity to achieve the research objectives and questions thereby, developing better
understanding about the link between business diversification and corporate social
responsibility. Adherence to the justified methodological tools has been necessary because
the various diversified business sectors of Reliance can be taken into consideration followed
by investigating both general and specific corporate social responsibilities Reliance Industries
Limited is engaged with and the outcome of those activities and initiatives deeply.

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Chapter 5: Data analysis
5.0 Overview
After selecting the most appropriate methodological tools, this chapter is developed
with the purpose of analyzing the relevant data using the selected methods. In this chapter
relevant themes in respect to the literature review, aim and objectives and the interview
transcripts of the employees of Reliance India are developed accordingly. The themes have
been developed in respect to CSR and business diversifications of Reliance India so far.
Information has been collected from various secondary resources that helped in achieving the
aim of the study by fulfilling the objectives and answering the questions. As Reliance India is
one of the leading industries, developing better understanding about their CSR and business
diversifications help in generating deeper in-sight about business scenarios.
5.1 Thematic analysis
Theme 1: Corporate social responsibility
Corporate social responsibility is a widely practiced aspect for the business
organizations regardless of the size and sector of the business organizations. The ultimate
purpose of corporate social responsibility is to manage the business processes in such a way
that the society is influenced positively. As mentioned by Chernev and Blair (2015),
corporate social responsibility covers ethics, sustainability and social impact and needs to be
the core of the business. On the other hand, corporate social model is defined more as a
philanthropic model where business organizations engage them is generating profits by
making societal benefit the primary agenda. Reports suggest that corporate social
responsibility could increase the profits of the business organizations (Saeidi et al. 2015).
Hence, big companies and industrial bodies are actively associated and engaged with CSR
activities. Such mind set exists because with successful CSR ventures and activities enables

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companies to earn respect and reputation in the sector that in turn attracts customers and
investors that helps in profit maximization.
Considering the significant impact of CSR on business, leading Indian companies and
industries have included CSR initiatives successfully in their policies.
Tata Chemical: The CSR initiative that Tata Chemical has taken up is to serve the local and
national communities those are deprived. The company has launched the program
“BLOSSOM” under which the company aim towards promoting and developing native
handicrafts thereby, improving their quality of life (Mukherjee 2015).
Ambuja Cements: The Company is engaged and committed in providing and ensuring
quality life for the underprivileged by bringing out the hidden talents of people and educating
them to use it for improved lifestyle (Tailor and Modi 2017).
Infosys: Infosys, the leading software company aim towards providing quality education to
the citizens that intends increased proficiency in IT skills. Additionally, the Company is
concerned about the impact on energy on environment and are engaged in findings ways to
minimize the negative impacts (Nishandar 2015).
Tata Motors: For Tata Motors, societal and environmental concern goes simultaneously and
their CSR initiatives are centred on women empowerment, primary education, health services
and skills training (Vyas 2015).
Reliance India: For Reliance India, CSR includes improving the lives of the people in India
in every possible way such as education, health and finances for derived communities
(Chandra and Kaur 2015).

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From the information above, it can be seen that CSR is an integral part for the leading
industries in India and aim towards making life better for communities in need thereby,
taking the country forward.
Theme 2: Diversified ventures of Reliance India since beginning
Reliance Industries in India have come a long since the company was founded by
Dhirubhai Ambani in 1966. Reliance began its journey as a polyester firm and was soon
renamed as Reliance Industries on May 1973. Since the establishment of the company there
is no looking back and Reliance have diversified their business in every way possible and
have embarked success. Some of the initial business diversifications of Reliance were
financial services, power sector and petroleum sector. The year 2002 marked the entry of the
company into billion dollar industry. Soon after the death of the founder of the company, it
was headed by his two sons where Anil Ambani took the charge of Reliance Capital, Infocom
and Energy whereas Mukesh Ambani headed the remaining companies (Lahiri and
Purkayastha 2017).
In 1986, the company diversified and collaborated with Du Pont De Nemours and Co
USA under which the company had to manufacture 50,000 tones of linear alkyl per year. This
business diversification was followed by their emergence into petrochemical sector (Caussat
2017). In 1992, Reliance formed Reliance petrochemical Ltd with the purpose of setting up
the project of manufacturing 70,000 TPA polyester yarns. Reliance Petrochemical Ltd
undertook and completed several projects under the business diversification and took
significant investments for setting up the grass root refinery in Gujarat and was termed as
world’s largest grass-root single stream multi-feed cracker plant (Mazumdar 2017). On the
other hand, Reliance Industries was one of the first companies to have joined the depository
by giving bonus shares with the help of demat form (Gupta et al. 2017).

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The year 1998 healthcare sector with an marked the step of Reliance Industries in the
initial investment of only Rs 100 crore by becoming the joined trustees of Sir Hurkisondas
Nurrotumdas Hospital in Mumbai. Reliance Industries, India’s largest company in the private
sector, took a major step towards corporate governance by playing a vital role for the non-
executive directors (Irani 2019). After healthcare, Reliance India also diversified their
business into Reliance Power ventures, a wholly owned subsidiary followed by going for a
joint venture with the Karnataka government in order to initiate 7,500 information all over
the states (Desai and Joshi 2015).
Even the aviation sector was not out of reach for Reliance India. Reliance Industries
ventured and partnered with Jet Airways with the aim of working together on planned
privatization projects of airports. This is followed by the business diversification of Reliance
in information technology sector where Reliance Industries Ltd aims towards setting up
world class Indian Institute of Information technology. With so many successful yet different
business ventures, Reliance Industries have secured a position in “World’s 100 best-managed
companies” in 2000. Retails, fashion, communication and mobility are some of the other
highly successful business diversifications of Reliance Industries (Chatterjee 2017).
Theme 3: General and specific CSR projects Reliance India Reliance
Reliance Industries seek to affect the life of the people and the society through the
corporate social responsibility initiatives that the company associate them with over the
years. The ultimate aim of the CSR policy of Reliance Industries is to enhance lives, living
and livelihood for an inclusive and stronger India and is guided by three core principle, Scale,
impact and Sustainability (Munshi and Dutta 2016). Most of the social initiatives of Reliance
are conducted under the aegis of the Reliance Foundation, an umbrella company responsible
for the company’s social sector initiatives. Both general and specific CSR initiatives of

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Reliance India are in terms of societal betterment, improvement and economic growth
(Pradhan and Roy 2017).
Rural transformation is one of the CSR initiatives that Reliance India is indulged and
engaged with under which the main purpose is the development of the rural India. Under the
rural transformation initiative, Reliance India aim towards mitigating the gap in terms of
growth and development between rural and urban India by enhancing the lives and livelihood
of people by addressing hunger, malnutrition and poverty (Reliancefoundation.org 2019).
The rural transformation program of Reliance is divided into two distinctive features the
holistic intervention for transformation by community aspiration goals and secondly, it is
grounded by some of the most marginal communities of India. The CSR initiative have the
purpose of enhancing the livelihoods of both farm and non-farming individuals by promoting
sustainable practices of performing agriculture. For example, educating and enlightening the
people of the rural India about rain water harvesting followed by building structures and
institutions that supports the initiative (The Economic Times 2019).
Under the rural transformation initiatives of Reliance, the company has initiated
Information Services in order to provide timely and valid information to the farmers,
livestock owners and fishermen so that they can take the right decisions for enhancing the
livelihood and income for avoiding probable risks (The Economic Times 2019). Apart from
rural transformation, another CSR initiative for Reliance India is towards environment.
Reliance emphasizes on influencing environmental sustainability by taking steps towards
improving the ecological balance, preserving natural resources, promoting biodiversity and
promoting renewable energy. Moreover, Reliance India is also taking steps for keeping the
quality of air, soil and water intact (Reliancefoundation.org 2019).

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CSR initiatives of Reliance are also see in terms of healthcare and the company aim
towards making huge contributions in improving the lives and health. Affordable healthcare
services are uncommon in India and Reliance India aims towards providing solutions to
quality life by providing access to healthcare services by spreading relevant awareness
(Reliancefoundation.org 2019). Under this, the people are able to access both primary and
secondary healthcare services to the population that is deprived. Reliance emphasize towards
improving both maternal as well as child healthcare services thereby, enhancing delivery by
using research programs those are innovative. Additionally, the program “Drishti” highlights
the initiative taken by Reliance to work for visually impaired individuals (Kaur and Tandon
2017).
Education and sports development are other two sectors where the CSR initiatives of
Reliance have marked prominence. Reliance aims towards providing quality education along
with adequate training and skills for improving the quality of life and livelihood of the
population. Both primary and secondary educations are promoted by the company for
deprived population along with promoting higher education by offering several scholarships
(Pradhan and Roy 2017). In terms of sports development, the main aim of Reliance is to use
it as the medium of encouraging the learning and inculcation of leadership in the youths that
will offer strength and perseverance in the long run (Haque and Md 2017).
Theme 4: Reliance India’s contribution towards people, planet and profit
With the CSR initiatives, Reliance has been successful in contributing largely towards
the people, planet and profit. The CSR initiatives of Reliance in terms of rural transformation,
education, healthcare and sports development, has helped in improving the lives of several
individuals (Das 2015). For instance, the livelihood of an estimated 19 lakh farmers and
fishermen and women has improved significantly due to the relevant CSR initiatives. The

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farmers and the fisher folks are able to handle emergency situations more wisely and
appropriately and their earnings have increased considerably with the contributions made by
Reliance. Reports indicate that more than 96,000 individuals have been benefitted from the
interactive programs conducted by Reliance India across different sectors such as healthcare,
livelihood and agriculture (Kumar and Roy 2015).
The CSR initiatives have contributed towards the life of the people by giving more
than 600 meritorious students scholarships for allowing them to pursue higher studies.
Moreover, Reliance Foundation Schools and NGO’s associated with Reliance have been able
to provide quality education to more than 80,000 students (Milićević Sofronijević and
Milosavljević 2016). The lives of the people have also improved with the healthcare
contributions of Reliance as more than 5 lakh health consultations were offered to the patients
through hospitals, static medical units and mobile managed by Reliance (Makkar 2016).
Apart from improving the lives of the people, CSR initiatives of Reliance have
contributed towards the betterment of the environment as well. For instance, the rain water
harvesting structures built by Reliance have collected and stored more than 100 lakh cubic
meters of water that helped in bringing 4700 Ha under irrigation. Moreover, under the
environmental CSR initiatives of Reliance India, over 5.4 lakh saplings were planted with the
purpose of preserving the environment (Koulagi 2015). Solar heating for public buildings
have also been installed along with facilitating the use of building materials those are energy
efficient by Reliance so that energy consumption can be reduced and saved for future.
Moreover, as a part of their environmental CSR initiative, Reliance has shown interest in
treating sewage waters and reusing the lands for successful irrigation processes (The
Economic Times 2019).
Theme 5: Sustainable strategies of Reliance

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The CSR initiatives of Reliance are highly sustainable because the core responsibility
is to improve the life of the people and the surrounding society and environment.
Figure 6: 5 P’s of sustainability
(Source: Ril.com 2019)
The above framework discusses the sustainable approaches of the CSR activities of
Reliance. Reliance India follows 5 P’s towards the sustainable growth and the sustainable
development strategy is based on the proven technology and risk management framework
that evolves from respective materiality analysis (Ril.com 2019). The 5 P’s of sustainability
for Reliance India are prosperity, products and processes, planet, people and place and
partnerships.
The first P of the 5 P’s sustainable approach aim towards and is dedicated to the
vision of the company of partnering the social well-being and economic growth of India. In
accordance with this sustainable approach, the company strives to become a product and
service leader across the industry sectors thereby, creating great value for the stakeholders.

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Figure 7: Key financial indicators
(Source: Ril.com 2019)
The figure above demonstrates the excellent economic performance of Reliance that
influenced successful value creation. For instance, the company has been able to obtain
excellent results in a falling oil prices environment that benefitted the business significantly
(Reliancefoundation.org 2019). The first P is followed by second one that indicates products
and processes. The research and development influences and drives the sustainability
initiatives of Reliance India. For Reliance, innovations does not only signify service and
product development or enhancing the performance and quality but it signifies developing
sustainable solutions for enriching the lives of the individuals those are generating values.
The sustainability approach in respect to product and processes highlights presence of raw
materials in appropriate quality and quantity at the right time (Irani 2019).

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The third P among the 5 P approach is the planet that signifies the environment where
the company is operating and is nowhere to be compromised. The sustainable approaches of
Reliance India indicate the determination of the company to protect the planet from
degradation by implementing sustainable consumption and production by managing the
natural resources efficiently. This helps in reducing the impact on the climate changes
thereby, securing a healthy planet and environment for the present and the future generations
(The Economic Times 2019). Sustainable approach in terms of people indicates the
determination of the company for ensuring that the people can lead a safe and healthy
environment in an environment facilitating equality. As a result, Reliance attracts best talents
in the industry by promoting and embracing both cultural diversity and equality (The
Economic Times 2019). Peace and partnership is the last P of the sustainable approach that
highlights the determination of the company for fostering just, inclusive and peaceful
societies by influencing the participation of all the stakeholders. This has helped the company
over the years to built sustainable base of customers and serves them with continuous spirit of
excellence, innovations and satisfaction (The Economic Times 2019).
5.2 Summary
Hence, from the information above, it can be summarized that Reliance India is the
epitome of success when it comes to business diversifications. From where the industries
started to where it is now, Reliance India has come a long way. Moreover, Reliance India is
associated with different CSR activities and initiatives with the aim of improving the
surrounding. The CSR initiatives that Reliance is associated helps in understanding the
relationship among planet, profit and people thereby, creating positives influences for the
society. The CSR activities of Reliance have helped in transforming the rural India followed
by saving the environment by creating energy from natural resources to educating women.

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Chapter 6: Findings and discussions
6.0 Overview
After the data analysis section comes the findings and discussions chapter with the
intention of interpreting the findings suitably. The interview transcripts of the employees of
Reliance India and the themes developed highlights that CSR is an integral part of Reliance
India and have been successful in bringing some change and making a difference for the
surrounding environment and the country. The policy and framework of Reliance have
included CSR within their policy so that fulfilling objectives and conducting CSR activities
can be performed simultaneously. The CSR policies of Reliance India aims towards
benefitting the planet and the people that in turn helps in increasing profit for the company.
The findings from the thematic analysis are discussed in respect to past researches and studies
present in the literature review section.
6.1 Interpretations
The above sections indicate the necessity and significance of corporate social
responsibility for business organizations to be successful. McCahery, Sautner and Starks
(2016) define CSR as the self-regulating business model that ensures that the business entity
is socially accountable to them along with being accountable for the people and the
stakeholders, both internal and external. Business organizations regardless of their size and
operating sector abide by the CSR components because it provides them with the opportunity
to make the environment better where they operate.
According to Saeidi et al. (2015), in the data analysis, corporate social responsibility
covers ethics, sustainability and social impact and needs to be the core of the business.
Hence, CSR is considered as a philanthropic model where business organizations indulge
them in making profits by making societal benefit as their primary agenda. The data analysis

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highlights that several big companies such as Tata Chemical, Ambuja Cement, Infosys, Tata
Motors and Reliance India are CSR policies embedded within their company policy so that
while fulfilling the CSR initiatives the company aim and objectives are also fulfilled and
achieved. As a part of their CSR initiatives, the big companies are doing their bit in
contributing towards improving and bettering the environment they are operating and taking
the country forward. Sauvant and Nolan (2015) in the literature review mentions that The Act
of Corporate Social Responsibility is mentioned by in India in the Section 135 Companies
Act that came to force since April 1st in 2014. Thus, it is imperative for business entities to
have an understanding about their responsibility towards the society along with their
business, as consumers and stakeholders place high importance on CSR.
Mason and Simmons (2014), Watson (2015), Park, Lee and Kim (2014) and Jizi et al.
(2014) mentions that successful corporate social responsibility has the ability to impose a
positive impact on the community the business operates. The CSR activities business
organizations associate them with needs to be open and outside oriented approach.
Additionally, business organization can ensure cost reduction significantly by hiring more
efficient employees and retaining them along with applying energy saving programs and less
investment in advertisement because the CSR activities itself speak and advertises the
company. However, the positives of CSR are argued by Chernev and Blair (2015) only in
terms of the society because successful CSR encourages both professional and personal
development.
Chen and Jaw (2014), Roberts (2018), Chiang, Chen and Ho (2016), Zeschky,
Winterhalter and Gassmann (2014), Karsono and Suprapto (2014), Walsh and Cunningham
(2016), Namada (2018), Valmohammadi and Roshanzamir (2015) and Song, Li and Zeng
(2015) mentions the necessity and significance of business diversifications for companies in
the long run. Successful business diversifications enable business organizations to avoid

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downturns, gain competitive defense, facilitates organizational improvement and minimizing
the risk of the companies thereby, increasing stability in the business environment. Reliance
India is an example of successful business diversifications considering from where it stated
and where it is now. However, the benefits and positives of business diversifications is
questioned by Fosfuri, Giarratana and Roca (2016), Markides (2015), Geissdoerfer,
Vladimirova and Evans (2018) and Picone and Dagnino (2016). The information in these past
studies reveals that business diversification often results in diluted and mediocre investing
and not quality investing. Business organizations lack adequate expertise and experiences in
the new market they are venturing into. Moreover, delay in responding to market changes is
also a potential challenge for diversified business entities.
Reliance India is an example of successful diversifications and CSR initiatives
simultaneously. As mentioned, Reliance India operates in various sectors such as
communication, retails, healthcare, petrochemicals, energy and education and started as
textile firm in the past. Hence, having business across several sectors indicates successful
business diversifications over the years that have helped in enhancing the life of the people.
Alessandri and Seth (2014), The Economic Times (2019), timesnownews.com (2019) and
Forbes (2019) highlights that Successful diversifications allowed Mukesh Ambani to top Jack
Ma’s Asia’s richest man after bringing a telecommunication revolution in India followed by
his diversifications into petrochemicals, retails and healthcare thereby, making it to the $100
billion club. Even the information presented by Chatterjee (2017) in the data analysis
indicates the successful business diversifications of Reliance India since their establishments.
Along with successful diversification strategies, the principle aim of Reliance
Industries that Mukesh Ambani took care of is the responsibility towards the society. Hence,
the successful association and conglomeration between diversified business and corporate
social responsibility can be understood by considering Reliance Industries India. The vision

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of Reliance Industries India indicates using sustainable measures for creating value for the
nation thereby, improving the quality of life across the overall socio-economic spectrum with
the aim of spearheading India as a leader globally in the various business domains they
operate. From the information presented by Ril.com (2019) it can be known that the company
aim towards maintaining the consistency building corporate social responsibility with the
vision of empowering the lives of the people along with deepening the social engagements.
The rate of success of the social responsibility of Reliance India is questioned due to the
existing corruption in India. Ril.com (2019) also mentions that the corruption in India has
made it difficult for Reliance India to succeed in the noble cause and activities.
The literature review reveals that the different corporate responsibilities that Reliance
Industries Limited has been associated with are rural transformation, healthcare, education,
education infrastructure, environment, protection of national heritage, arts and culture and
disaster response and culture. India CSR Network (2019) mentions that the vision of Reliance
India has been to create an eco-systems towards profitable growth and creating societal value
for the several stakeholders. This information in the literature review is supported by Munshi
and Dutta (2016), Pradhan and Roy (2017) and Reliancefoundation.org (2019) in the data
analysis that indicates both general and specific CSR initiatives of Reliance India are in terms
of societal betterment, improvement and economic growth.
As mentioned by The Economic Times (2019) in the data analysis section, rural
transformation is one of the CSR initiatives that Reliance India is indulged and engaged with
under which the main purpose is the development of the rural India. Under the rural
transformation initiative, Reliance India aim towards mitigating the gap in terms of growth
and development between rural and urban India by enhancing the lives and livelihood of
people by addressing hunger, malnutrition and poverty. The CSR initiative of Reliance India
in terms of rural transformation is supported by Businesstoday.in (2019) in the literature

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review that provide evidence that livelihoods of more than 1200 million farmers, livestock
owners and fisher folk were improved with over 4.8 million since inception. The
establishment of VRA’s for the farmers gave them a platform to voice their opinions and
needs followed by drawing attention and developing individual lives as well as the lives of
the communities. Businesstoday.in (2019) also mentions that RIL helped in eco-consistent
soil conservation that resulted in bringing more than 7,000 Ha of land under sustainable
agricultural practices that estimates over 64,000 Ha since inception.
Apart from rural transformation, RIL’s initiative and contribution in the field of
education have left a huge positive mark on the lives of young and under privileged yet
talented children. RIL have provided scholarship under the Dhirubhai Ambani Scholarship
program and so far the Foundation have successfully provided financial support to 11,781
meritorious students so that they can complete their graduation and education uninterruptedly
according to the information presented by The Economic Times (2019) and Ril.com (2019).
The information presented by Pradhan and Roy (2017) also mentions that Reliance aims
towards providing quality education along with adequate training and skills for improving the
quality of life and livelihood of the population. Both primary and secondary educations are
promoted by the company for deprived population along with promoting higher education by
offering several scholarships.
6.2 Summary
Hence, in this chapter, it can be summarized that Reliance India is one of the leading
industries in India with business across numerous sectors. Reliance India is an example of
successful business diversifications considering that it started off as a textile firm but now is
operating in healthcare, pharmaceuticals, petrochemical, communication, retail and
supermarkets successfully. The figures indicate the the company is successful in achieving

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greater heights with each business diversifications. Apart from successful business
diversifications, the CSR initiatives of Reliance India have made a difference in the society
and have contributed towards the people, planet and profit significantly. The CSR initiatives
of Reliance India have helped in transforming the life of several lakh farmers across India
under their rural transformation initiatives. Additionally, the CSR initiatives of Reliance have
helped in making healthcare services available to deprived populations across rural India.
Hence, Reliance has been successful in achieving the positives and benefits towards the
planet, people and profit considerably.

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Chapter 7: Conclusion and recommendations
7.0 Conclusion
From the information provided in the above chapters, it can be concluded that
business diversifications is a strategy for the companies or firms to sustain the business
environments in the long term. Diversifying into different fields and sectors helps the
business organizations to identify untapped opportunities thereby, ensuring business
expansion and increased customer base. Similar is the case of Reliance India, one of the
leading industries of India. As known, Reliance was established by Dhirubhai Ambani as a
textile firms that later expanded across different sectors and industries. Since the
establishment, the company diversified into different sectors such as petrochemicals, energy,
communication, retail and supermarkets. After the death of the founder of Reliance, both the
sons, Anil Ambani and Mukesh Ambani separated and took charge of separate diversified
businesses.
Apart from business diversification, Reliance India is seen to be associated with
different social activities for making India and the environment better. Reliance India is
associated and responsible for wide range of CSR activities and to a large extent has been
successful in making a change in the respective areas. The information from the past studies
reveal that CSR is an integral part of the policies that Reliance follows and hence, the
ultimate agenda is to serve the society, its people and the country they are operating. The
different components of CSR indicate betterment and improvement for the planet, people and
the organization in terms of increased profits. The different CSR activities of Reliance are
rural transformation, education, healthcare, sports development, environment, disaster control
and protection and preservation of national heritage, art and culture.

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Reliance India has worked hard in making difference with their CSR activities and
initiatives for the deprived population of the country. Information from both the literature
review and data analysis indicates that Reliance has been successful in changing the lives of
several farmers of rural India under their programs. If the contribution towards the
environment is considered, the CSR activities of Reliance has helped in promoting
environmental sustainability, ecological balance and conservation of natural resources. With
so much natural calamities that happened across India, Reliance has shown prompt action in
managing and responding to disasters.
For Reliance India, conducting CSR activities effortlessly and fulfilling the business
activities simultaneously is often a challenge that Reliance have encountered because to a
certain extent the focus of the company is interrupted and the profit is compromised.
However, considering the vastness of the business, such loss fails to make any significant
difference in the course of generating profit for the company.
7.1 Linking with objectives
Objective 1: To understand the concept of corporate social responsibility and
diversified companies
Objective 1 is linked with literature review sections 2.1 and 2.6. Both these sections
consider past studies and investigations conducted in terms of CSR and diversified business
that provided opportunity for analyzing the views and opinions critically thereby, developing
a data enriched study. On the other hand, the interview questionnaire has been developed in
respect to Reliance India and questions have been asked in terms of business diversifications
and CSR thereby, fulfilling the objective suitably.
Objective 2: To critically analyse the different components of corporate social
responsibility

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Objective 2 is linked with section 2.7 of the literature review that mentions and
defines the each of the corporate social responsibility components. From the information
provided in this section, it can be said that CSR indicates well-being of the society the
business organization operates along with ensuring own profit maximization and revenue
generation. The survey questionnaire developed helps in identifying the benefits CSR
imposes towards the planet, people and profit in respect to Reliance India.
Objective 3: To investigate the general and specific CSR projects of Reliance India
Objective 3 is linked with section 3.2 that is developed as an extended part of the
literature review. This section sheds light on the various CSR initiatives that Reliance is
associated with for over the past years with the aim of transforming India to a progressive and
developing country. On the other hand, from the responses gathered from the employees of
Reliance India, it can be known that CSR initiatives of Reliance include rural transformation,
education, healthcare, disaster control, ecological conservation and conserving arts and
culture.
Objective 4: To study the relationship between the three principle aspects planet, profit
and people in Reliance India
Objective 4 is linked with linked with section 3.4 that is developed as an extended
part of the literature review. Under this section, the policies and frameworks of Reliance is
studied so that it can be known where CSR stands for Reliance India when it comes to
business. Similarly, the survey questions have been developed so that it can be known how
the CSR initiatives undertaken by Reliance India is doing good and affecting the planet and
people of India along with ensuring and maintaining own profit suitably.
Objective 5: To examine the positive influences of CSR and sustainable strategies of
Reliance India

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Objective 5 is linked with section 3.3 that is developed as an extended part of the
literature review. In this section the positive impact of the sustainable approaches undertaken
by Reliance India is considered and studied. The successful results of the CSR initiatives of
Reliance India are studied in this section that fulfills this objective. On the other hand, the
survey questions developed were asked to the employees with the intention of knowing the
extent to which the CSR activities have been successful.
Objective 6: To provide suitable recommendations for improving CSR activities
undertaken by Reliance India
7.2 Recommendations
With the identified challenges, the suitable recommendations the effectiveness of the
company so that CSR and fulfilling business objectives can be achieved simultaneously are
listed below.
Understanding the nature of CSR
If the business organizations are willing to doing something good for the society and
its people, they need to understand the nature of the CSR appropriately. This will provide
opportunity to understand the initiative inside out and working accordingly.
Integrating goals and objectives with CSR
Reliance India can ensure fulfillment of objectives and CSR initiatives simultaneously
by including CSR within their policies and framework. Hence, whenever the company will
aim towards achieving the aim and objectives of the organizations, CSR initiatives will be
achieved successfully.
Using balanced scorecards

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Aligning the values of the consumers and the employees will help in ensuring that the
CSR activities are achieved along with fulfilling the research aim and objectives thereby,
maintaining and maximizing the profit of the company.
7.3 Future scope of the study
This study is based on the opinions and views of the employees working in Reliance
and has been a part of the organization for long. The transcripts and the relevant themes
indicate that Reliance have come a long way and have diversified largely with CSR initiatives
associated with it. Hence, in the future, research can be conducted by gathering more specific
information. For instance, the future research can focus on knowing which diversified
business of Reliance is supporting the CSR initiatives. On the other hand, in the future,
research can also be conducted with the aim of knowing how funds are collected and
investments are gathered for supporting the wide range of CSR activities undertaken by
Reliance. This will help in determining whether Reliance has undertaken specific CSR
activities under each diversified business venture so far along with knowing how they intend
to continue CSR activities in future.

79DISSERTATION
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Appendices
Appendix 1
Interview questions
1. What is your designation in the company and in which department do you work in?
2. How long have you been working in Reliance Industries?
3. Have you ever been a part of business diversification of Reliance? If yes, what was
the business diversification all about?
4. To extent are you aware of CSR?
5. Are you aware of any CSR projects of Reliance?
6. Does each diversified business venture of Reliance have a CSR initiative associated
with it?
7. To what extent the CSR activities of Reliance allow them to get business recognition
and awareness?
8. To what extent does CSR of Reliance have helped India progress at various sectors?
9. Have Reliance faced any challenges while executing their CSR activities with their
diversified business ventures? If yes, how have Reliance coped with
10. Can you share with us the future plans of Reliance in terms of CSR activities that the
company is going to undertake?

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Appendix 2
Interview transcripts
 What is your designation in the company and in which department do you work
in?
Interviewee 1: “I work in Reliance as a senior manager in the sales department.”
Interviewee 2: “I work in the marketing department in Reliance as a digital marketing
manager.”
Interviewee 3: “I work as a Quality control and environmental manager in Reliance.”
Interviewee 4: “I have been working in Reliance Industries as a senior manager in the human
resource department.”
Interviewee 5: “For me, I have been working in Reliance India as Senior Operations
Manager in the finance department of the company.”
Interviewee 6: “I work as senior marketing manager in Reliance Industries.”
Interviewee 7: “I work as the Chief Financial Officer in Reliance in the Accounts
department.”
Interviewee 8: “I work as a Project Lead in Reliance in the telecom department.”
 How long have you been working in Reliance Industries?
Interviewee 1: “I have been working in Reliance for the past 7 years and I must say that I am
having a wonderful journey.”
Interviewee 2: “For me, I am in this company for the last 10 years and look into the digital
marketing aspect of the company.”

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Interviewee 3: “I am in this company for 3 years only and have recently joined as I worked
in a different country before.”
Interviewee 4: “I have been working in Reliance for more than 15 years and I have seen this
company change a lot as needed.”
Interviewee 5: “I have been working in this company for more than 15 years and have been
responsible for the operations of the company in the telecom business.”
Interviewee 6: “I am here in Reliance in the post in the retail business for more than 12
years.”
Interviewee 7: “I have joined Reliance recently, may be for three and a half years or so.”
Interviewee 8: “I work in this company for 7 years.”
 Have you ever been a part of business diversification of Reliance? If yes, what
was the business diversification all about?
Interviewee 1: “I am responsible for increasing the sales of the company and have done that
for different businesses that Reliance owns such as retails, clothing and petroleum products.
So, not directly but yes indirectly, have been a part of it.”
Interviewee 2: “No, not any specific business diversification as if I remember but as a digital
marketing manager I have given the job of marketing various products and services of the
company.”
Interviewee 3: “No, as I told I have joined the company recently.”
Interviewee 4: “I have selected employees for the different businesses that Reliance own so I
can say it has diversified their business from where it started and will diversify in future in
ways people cannot expect.”

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Interviewee 5: “I was previously working in the retail business that Reliance owns but
recently I have been shifted to look after the telecom business.”
Interviewee 6: “No I have not been a part of any such diversification process in Reliance.”
Interviewee 7: “Well, I cannot reveal about it as it is highly confidential.”
Interviewee 8: “Nothing specific because it is a matter of individuals with much higher
ranking.”
 To what extent are you aware of CSR?
Interviewee 1: “Yes, I am completely aware of CSR.”
Interviewee 2: “Yes, it goes without saying. We need to ensure that we abide by the CSR of
the companies on a daily basis.”
Interviewee 3: “Indeed, I am well-aware of CSR and make sure it is fulfilled while I perform
my job roles and responsibilities.”
Interviewee 4: “Yes, I am well-aware about CSR and its significance for a business.”
Interviewee 5: “Yes, I know about CSR and agree with it as well.”
Interviewee 6: “Yes, i have adequate knowledge about CSR.”
Interviewee 7: “Yes, indeed, I know about CSR and its significance for a successful
business.”
Interviewee 8: “Yes, I know about CSR very well.”
 Are you aware of any CSR projects of Reliance?
Interviewee 1: “Yes, Reliance is contributing in healthcare sector immensely as their CSR
initiative.”

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Interviewee 2: “Yes, as far as I know, CSR activities by Reliance include their contribution
in rural transformation, healthcare, protection of national heritage and education.”
Interviewee 3: “As a part of their CSR activities, the contribution of Reliance can be seen in
healthcare, education and environment.”
Interviewee 4: “CSR activities of Reliance include rural transformation, education,
environment and education.”
Interviewee 5: “Reliance CSR initiatives include women empowerment, child education,
environment and disaster responses and culture.”
Interviewee 6: “Reliance CSR activities are in the field of education, environment education
infrastructure and rural transformation.”
Interviewee 7: “CSR activities of Reliance are seen in sectors such as education,
environment, healthcare, rural transformation and disaster control as far as I know.”
Interviewee 8: “Reliance has contributed largely in the field of education, healthcare, rural
growth and transformation, disaster control and environment.
 Does each diversified business venture of Reliance have a CSR initiative
associated with it?
Interviewee 1: “We I cannot say that firmly but I can say that Reliance contributes largely
for the betterment of the society.”
Interviewee 2: “Well, I cannot say it confidently but Reliance contributes largely for the
development of the society they are operating in.”
Interviewee 3: “I do not know about whether each diversified business has a CSR purpose or
not but the effort and contribution it makes is beyond expectation.”

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Interviewee 4: “All I can say is that for Reliance business and CSR goes hand in hand.”
Interviewee 5: “For Reliance, business and CSR activities, both are of equal significance and
Reliance invests in CSR activities largely.”
Interviewee 6: “Reliance has been participating in various CSR activities and initiatives
alongside their diversified businesses.”
Interviewee 7: “I cannot say if every diversified business has a CSR initiative associated
with it but Reliance largely promotes and invests in CSR activities and that is for sure.
Interviewee 8: “Reliance is largely indulged with CSR activities and is an active part of the
business.”
 To what extent the CSR activities of Reliance allow them to get business
recognition and awareness?
Interviewee 1: “I think largely. Contributing so much towards improving the society has
enabled them to grab an eye.”
Interviewee 2: “Yes, I think up lifting the standard of the society and helping them progress
have helped Reliance gain recognition and awareness.”
Interviewee 3: “I feel to a large extent.”
Interviewee 4: “I think largely because societal welfare grabs a lot of attention in the
business world for Reliance.”
Interviewee 5: “I think largely. This is because the contribution towards the society is
changing them for the good.”
Interviewee 6: “I think yes because the improvement in the sectors has grabbed a lot of
attention.”

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Interviewee 7: “I think to a large extent because the CSR initiatives have made a lot of
difference for the concerned sectors.”
Interviewee 8: “Indeed because education, healthcare and environment have seen significant
improvements due to contribution done by Reliance.”
 To what extent does CSR of Reliance have helped India progress at various
sectors?
Interviewee 1: “I think to a large extent because female education has progressed in rural
areas.”
Interviewee 2: “The CSR activities by Reliance improved the educational sector because the
company is offering various scholarships and monetary benefits for less privileged ones.”
Interviewee 3: “Reliance has build schools, computer labs and knowledge centers that have
helped in transforming the educational sector.”
Interviewee 4: “The CSR initiatives has helped transform the healthcare sector because the
company has been successful in contributing towards specialized healthcare, primary and
preventive healthcare.”
Interviewee 5: “The healthcare sector has transformed for the better because of the
contribution of Reliance in terms of technology in healthcare and specialized care as well.”
Interviewee 6: “I think each and every sector, education, environment, healthcare and
disaster control, all have improved and progressed largely due to the continuous effort put in
by Reliance.”
Interviewee 7: “The CSR activities by Reliance improved the educational sector because the
company is offering various scholarships and monetary benefits for less privileged ones.”

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Interviewee 8: “Reliance has build schools, computer labs and knowledge centers that have
helped in transforming the educational sector.”
 Have Reliance faced any challenges while executing their CSR activities with
their diversified business ventures? If yes, how have Reliance coped with it
Interviewee 1: “Challenges are evident when it comes to executing something and I am sure
it might have occurred for Reliance as well.”
Interviewee 2: “Yes, indeed. Planning the entire thing and executing the CSR activities
successfully, is a result of overcoming several such challenges.”
Interviewee 3: “Yes, Reliance has encountered challenges and has overcome them with
suitable actions.”
Interviewee 4: “I am not sure but challenges have to be there. Success cannot be achieved
without challenges and overcoming them appropriately.”
Interviewee 5: “Challenges are evident when it comes to executing something and I am sure
it might have occurred for Reliance as well.”
Interviewee 6: “Yes, Reliance has encountered challenges and has overcome them with
suitable actions.”
Interviewee 7: “I think continuous planning and prompt actions helped in overcoming the
challenges with business diversifications.”
Interviewee 8:
 Can you share with us the future plans of Reliance in terms of CSR activities
that the company is going to undertake?

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Interviewee 1: “The future plans plans of Reliance focuses on improving the current status of
India in various ways.”
Interviewee 2: “Developing the healthcare sector more appropriately is more evident when it
comes to future plans of Reliance India.”
Interviewee 3: “Reliance is planning to put in more effort in each sector they are already
contributing with the purpose of making things better.”
Interviewee 4: “Reliance is planning to extend their contribution in the educational sector
because providing educational facilities for the youths will take the country forward.”
Interviewee 5: “I feel making rural India better is the main focus.”
Interviewee 6: “Developing the healthcare sector more appropriately is more evident when it
comes to future plans of Reliance India.”
Interviewee 7: “The future plans plans of Reliance focuses on improving the current status of
India in various ways.”
Interviewee 8: “Reliance is planning to extend their contribution in the educational sector
because providing educational facilities for the youths will take the country forward.”