Sustainability and Corporate Social Responsibility Reporting

This report discusses the differences in CSR and sustainable reporting of Infosys and Indian Oil Corporation. It explores the social issues faced by these companies and their sustainable development goals. The report also analyzes the influence of social reporting on the value of the companies.

SUSTAINABILITY AND
CORPORATE SOCIAL
RESPONSIBILITY
REPORTING

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Company Overview.....................................................................................................................1
Different Social Issues.................................................................................................................2
Sustainable Development Gaols..................................................................................................3
Sustainable Development Phase..................................................................................................4
Influence of Social Report of Company’s Value.........................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6
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INTRODUCTION
Corporate social responsibility is ethical values of business towards environment and
society in order to increase their efficiency and also improve the quality of living effectively
(Dhameja and Agarwal, 2017). It is very essential for business to develop effective
communication channel which provide all the information to its customers and public to increase
the value of business in market effectively. There are many ethical issues which companies face
while developing sustainable and CSR reporting due to lack of proper information and skills in
the workforce. This report discusses CSR and sustainable reporting differences of Infosys and
Indian oil corporation ltd.
TASK 1
Company Overview
Infosys
Infosys is multinational business organisation and it is located in India. The company
deals in information technology and consultation to different business organisation worldwide.
Company has more than 200 thousand employees and company has acquired many business or
other nationalities to increase the brand image in the world and also become market leader
effectively. Company also promote diversified workforce which helps to increase its potential in
achieve their objectives and maintain the organisational culture effectively. Infosys has positive
attitude towards corporate social responsibility and with the help of innovation recognition
programme in the country, company awards in six segments which are healthcare, rural
development, environmental protection, sustainability, women empowerment, education and
sports. Company is very effective in understanding all the factors which helps to increase the
brand value and increase the satisfaction effectively (Chavan and Breyer, 2018).
Indian Oil Corporation ltd.
Indian Oil Corporation is Government Company which operates oil and gas in the
country to different private sectors and industries. It is the largest oil gas company in the country
and provides its products for commercial use to other manufacturing units in the country. It is
headquartered in New Delhi, India. Indian Oil Corporation is involvement in refinement of oil,
crude oil extraction, pipeline network and oil transportation to different places of the country to
fulfil the demand and gases to reduce pollution and sell it to retail petroleum companies
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effectively. Indian Oil Corporation also developed corporate social responsibility activities
including environment protection, developing infrastructure for poor and rural areas, providing
basic resources which are water, food and shelter to all the citizens of India. Company also helps
to develop sustainable products which helps to reduce the impact of pollution on the environment
and also helps to increase the efficiency of the country by high quality of educational institutions
and healthcare facilities. Company also contribute in the sanitisation activities to reduce diseases
in the country (Bhatia and Makkar, 2018).
Different Social Issues
Due to amendment of CSR activities in Indian companies act it impacted the profit
margins of Infosys and Indian Oil Corporation. Infosys it is private company and has to conduct
social responsibility activities according to regulations of government (Prasad, Mishra and
Bapat, 2019). However, Indian oil corporation is government owned and has the main motive to
increase the public welfare from its profit and also increase productivity of the country. This also
helps the company to increase the quality of products and services to customers. Company also
received many awards for participating in social activities it also improved the quality of
production and demand of customers. Indian Oil Corporation developed many schools, NGOs,
hospitals for rural and urban sector and also provided effective quality of education. Indian oil
analysed that globalisation and privatisation has impacted the market share of the company and
this impacted the social motive due to low profit margins to survive and generate revenue
according to regulation in company act, 2013. The main social issue of Infosys is to increase the
profit margins which are very difficult to attain due to increase in the CSR activities of the
company in the market (Pattnaik, 2020). Due to lack of proper satiation network in the rural and
urban area it increases the diseases in the country. Infosys has to develop 2 percent of total
revenue of the company and recent figures shows that Infosys has invested around 500 crore in
CSR to increase the potential of the population effectively. Company also focus on sustainable
development to increase the efficiency of the country and improve the standard of living of
citizens effectively. Increase in the demand of consumer goods and lower income level of the
citizens. The company also analysed that India there is lack of educational level which is also
impacting the employment opportunities which helps to increase the decision making process of
the citizens effectively (Acharya and Patnaik, 2018). Increase in the women discrimination has
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also led to increase in the awareness of women empowerment to provide effective diversity in
the country effectively. Infosys also employees more than 30 percent of female employees to
promote women empowerment with equal pay and high post according to their potential.
Sustainable Development Gaols
Sustainable development goal are the objectives which are adopted by specific country in
order to reduce the social issues and increase the productivity of nation and boost the economy
effectively (Arora and Jyoti, 2019). There are many factors which also impact the sustainable
development of company is in India as due to large population which reduce the efficiency of
proper resource distribution. India has unequal demography which also impacts the potential of
the country to grow its economy in the global market. Infosys and Indian oil corporation both has
similar goals to increase the sustainable develop process. To reduce poverty both companies
have introduced many packages to poor and donated funds to government which helps to
increase the speed of development in the country. The major issue is corruption in politics as
they retain the funds allotted for poor for their personal use and also reduce the productivity of
the poor to live better life. Both companies have developed many hospitals and conducted
several green campaigns by planting trees and sanitising rivers and oceans to protect
environmental pollutions. Oil Corporation of India has also developed effective oil product
which emit less carbon at the time of consumption to reduce the ait pollution. Infosys has
improved the efficiency to provide better education to rural citizens and also providing them
education about human rights and other legal rights as Indian citizens and eradicate exploitation.
Both Indian companies have conducted many CSR activities which helped the country to
eradicate poverty and hunger which is a important issue in India due to very large population size
(Singh, Holvoet and Pandey, 2018). It is also analysed that due to diseases and bad environment
the mortality rates of the country is declining and with the development of healthcare units and
hospitals in different areas of the country helped to fight with the epidemic diseases and increase
the life of people effectively. Being a government company Indian oil corporation also donated
maximum of its income in the sustainable development and also formed many non profitable
organisations which helps to support all the sustainable development goals of the country and
increase their efficiency gradually. LPG residential gas cylinders were subsidised for poor to
abolish charcoal cooking as it was affecting lungs of young and mid aged poor people in India.
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Lack of proper activities both companies promoted sports as part of life for many students and
also introduced many sports academy in India this also improved the sports industry in the
country gradually.
Sustainable Development Phase
There are four phases in sustainable development which helps business to analyse their
performance in social responsibilities. These phases are engaging, accelerating, leading,
transforming respectively. This also helps to evaluate the performance of Infosys and Indian oil
corporation in sustainable development effectively,. there are also many factors which impact the
efficiency of the business and their activities. As both the companies has the produces which
have progressive profit margins it is very likely to increase the sustainable develop process in the
future effectively. Indian Oil corporation is operating under phase 2 which is accelerating. As
company focuses on public welfare and social upliftment this also helps the country to reduce
poverty. Oil Corporation also provides employment opportunities to many uneducated citizens
which improved their standard of living effectively. with the development of different
educational centre and subsidies on the products company has contributed in sustainable
development goals of India effectively. Infosys has developed its CSR activities and supported
other businesses to increase the efficiency to achieve sustainable development goals effectively.
as the company provides digital education to the country and lies under phase accelerating phase
which helps country to gain better formation and also improving the quality of living effectively.
Infosys is very effective in developing all the internal activities which increase the core values of
the business and motivate their employees to work more effectively. as the company also
outsources its services in global market which helps the increase the revenue of the country to
develop better opportunities for the company to develop effective understanding. Company also
provides effective opportunity for people who have innovating minds and motivate them to
increase their creativity and help the society grow and develop effectively. Company has also
adopted all the CSR compliance and also conducting activities to increase the efficiency of
society and protect environment. It is very essential for Infosys to develop its CSR polices and
adopt it in the organisation activities to move towards phase four to improve communication
channel of the company and improve brand image in the country effectively (Sinha and Panda,
2018). Indian Oil Corporation CSR report enables us to analyse that the company has been
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highly responsive to various arenas of societal values and ethical business aspects through which
higher business gaols can be developed and larger customer goodwill is formulated among
consumers market share. Infosys company CSR report also enables us to analyse the paradigms
onto which higher CSR ethics are developed for pertaining the set targets within specific
functional goals. CSR is one of the most important functional model onto which higher social
presentation and promotional parameters among global paradigms are developed for larger
business value.
Influence of Social Report of Company’s Value
Corporate social responsibility and sustainability reporting helped business to increase
the brand image in the market effectively This also provides better opportunity to increase
satisfaction level of stakeholders and gain higher funding to increase size of business effectively.
Social reporting helped Infosys to increase shared values and effective organisational culture of
the organization to increase performance of employees and achieve objectives effectively. large
number of customers base were created due after effective communication of CSR activities and
sustainable development activities of Infosys and Indian oil corporation this also increased the
value of shares in the market and provided better opportunity to increase capital for business.
(Adnan, Hay and van Staden, 2018). While writing this project on CSR my business ethics
knowledge developed with wide perspectives and rational creativity factor of how companies
strategically plan their CSR activities. These factors have broaden my view for brand building
and how these factors enable in programming the vision for stronger working potentiality. I
practically came across cases of CSR where companies investments work as one of the most
important factor onto which higher gaols are set for higher viable performance in industry. These
factors and technical efficiency which is needed to analyse data figures, CSR reports structure of
companies enabled me in gaining various perspectives knowledge on CSR. The companies in
todays business marketing world are highly investing in CSR funds, whcih enable them to bring
edge of competitive benchmark among other companies and functionally be highly active to
consumer demands and various new social values which adds to goodwill of brand name
globally. I came across vivid practical examples on how companies are programming their CSR
reports and the analysis of which enabled me to leverage high growth in my academic growth.
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CONCLUSION
This report concludes that it is very essential for business to develop effective
communication channel which helped both the companies to formulate effective report of CSR
and sustainability and increase its market share effectively. Report identified different strategies
and techniques which improved social activities and increase their brand image in the market
effectively. Due to increase in the competition it was analysed that sustainable development
helped business to increase its potential to increase its profit margins and also formulate effective
social responsibility activities to increase perceived values of both companies effectively. There
are many opportunities for companies to uplift society and develop effective report and increase
stakeholder satisfaction effectively.
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REFERENCES
Books and Journal
Adnan, S.M., Hay, D. and van Staden, C.J., 2018. The influence of culture and corporate
governance on corporate social responsibility disclosure: A cross country
analysis. Journal of Cleaner Production. 198. pp.820-832.
Sinha, S. and Panda, A.K., 2018. Corporate social responsibility in India. ZENITH International
Journal of Business Economics & Management Research. 8(4). pp.97-106.
Singh, S., Holvoet, N. and Pandey, V., 2018. Bridging sustainability and corporate social
responsibility: Culture of monitoring and evaluation of CSR initiatives in
India. Sustainability. 10(7). p.2353.
Arora, B. and Jyoti, D., 2019. CORPORATE SOCIAL RESPONSIBILITY AND
VOLUNTARY SUSTAINABILITY STANDARDS. Indian Business: Understanding a
rapidly emerging economy. p.27.
Acharya, J. and Patnaik, S.N., 2018. Corporate social responsibility in community development
and sustainability: Rourkela Steel Plant, a unit of SAIL, India. Asian Journal of Business
Ethics. 7(1). pp.53-79.
Pattnaik, A., 2020. Inclusive Business for Sustainable Growth. In Mandated Corporate Social
Responsibility (pp. 161-173). Springer, Cham.
Bhatia, A. and Makkar, B., 2018. Cross-country comparison of CSR reporting practices-
evidenced from institutional theory in India and China. International Journal of
Sustainable Strategic Management. 6(2). pp.117-144.
Prasad, M., Mishra, T. and Bapat, V., 2019. Corporate social responsibility and environmental
sustainability: Evidence from India using energy intensity as an indicator of
environmental sustainability. IIMB Management Review.
Chavan, M. and Breyer, Y., 2018. Infosys BPO: Case studies for a sustainable future: A critical
commentary of the CSR dimensions framing Project Genesis. In Industry and Higher
Education: Cases studies for a sustainable future. Springer.
Dhameja, N.L. and Agarwal, V., 2017. Corporate Governance Structure: Issues & Challenges-
Cases of Tata Sons & Infosys. Indian Journal of Industrial Relations. 53(1).
Aggarwal, D., 2018. Contribution by Indian Oil Corporation Limited Toward the Welfare of the
Society. NOLEGEIN-Journal of Business Ethics, Ethos & CSR. pp.21-24.
Kalita, K. and Bhattacharjee, B.J., 2019. Role of CSR in the Conflict Zones of Emerging
Economy-A Case Study on IOCL's North-East Operations in India. Abhigyan. 37(3).
pp.44-54.
(Aggarwal, 2018)
(Kalita and Bhattacharjee, 2019)
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