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Strategic management Final Project

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  1 CHAPTER1: INTRODUCTION 1.1 Overview Of The Study (Executive Summary) Corporate social responsibility (CSR) is emerging as a new field in the management research. In India, many firms have taken the initiatives of CSR  practices which have met with varying needs of the society. The present study has made an attempt to understand the status and progress and initiatives made by large firms of India in context to CSR policy framing and implementation. The CSR initiatives in context to health, education and environment sector to be rated by the interviewee were identified from the literature. Based on the information and discussions mentioned a matrix of various policy factors has been prepared.   Inspired by a vision to serve a larger national purpose and abide with the strong value of Trusteeship, ITC has crafted innovative business models to create larger societal capital while simultaneously delivering long term shareholder value. This overarching aspiration to create meaningful societal value is manifest in ITC's strategy to enhance the competitiveness of value chains of which it is a part. It is therefore a conscious strategy to design and implement Social Investments / CSR  programmes in the context of ITC's businesses, by enriching value chains that encompass the most disadvantaged sections of society, especially those residing in rural India, through economic empowerment based on grass-roots capacity building.  2 ITC's sustainability initiatives are inspired by its overarching vision of contributing to the triple bottom line objectives of building economic, environmental and social capital. Its deep engagement with rural communities and other stakeholders is evident in its large scale social investment initiatives and value chains that support over five million sustainable livelihoods. During June 2012, at the Rio+20 United  Nations Summit in Rio de Janeiro, ITC Limited was presented with the 2012 World Business and Development Award for its transformational rural initiatives in social and farm forestry programmes in India. ITC has spearheaded a large scale social investments programme christened Mission Sunehra Kal. This programme aims at building rural capacity in partnership with local communities to develop water and forest resources, open up new non-farm livelihoods, empower women economically and expand primary education.  3 1.2 Rationale Of The Study The objective of the study on is to ensure that I as a student develop in real life experience for handling the specific project and also to develop all understanding of the various activities related to the area of my specialization. This training gives us a substantial corporate exposure and also serves as a useful tool of interaction with the corporate sector. The main objective of the study is:      To know about the corporate social responsibility concept and its importance in today‟s corporate world  in detail      To know about the CSR initiatives taken by ITC company and how it manages to be in its position.      To get the knowledge regarding CSR conduct and how such concept has emerged in recent years.      To get an indepth knowledge on the industrial overview of a company and how it maintains the position in the market with the help of CSR  .  4 1.3 Scope Of The Study The scope of the study covers the following area:    The study has covered various aspects of CSR conduct and how such activities are useful for today‟s corporate world.      It also covere d area of ITC‟s CSR initiatives for development of the society as well as for the company‟s development   1.4 Sources Of The Data Methodology shows how and from which source the data or information is collected. This project is theoretical as well as practical so the data was collected from the following sources: DATA COLLECTION SOURCES:    ITC‟s Sustainability Report      Books reference on Strategic Management    www.itcportal.com
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