Description
The topic is titled as “Corporate Social Responsibility” with specific reference of Dr. Reddy’s Laboratory
CHAPTER I – INTRODUCTION
40
INTRODUCTION OF TOPIC
Corporate social responsibility (CSR) has variously been described as a ‘motherhood issue’ (Ryan 2002, p. 02) ‘the hot business issue o! the nou"hties’ (#lyth 200$, p. 0) and ‘the tal% o! the to&n in corporate circles these days’ ('ees ( #onham 2004). )here seems to be an in!inite number o! de!initions o! CSR, ran"in" !rom the simplistic to the comple*, and a ran"e o! associated terms and ideas (some used interchan"eably), includin" ‘corporate sustainability, corporate citi+enship, corporate social investment, the triple bottom line, socially responsible investment, business sustainability and corporate "overnance’ (,rime 'inister-s Community #usiness ,artnership). .t has been su""ested that ‘some/researchers/distort the de!inition o! corporate social responsibility or per!ormance so much that the concept becomes morally vacuous, conceptually meanin"less, and utterly unreco"ni+able’(0rlit+%y 200$)1 or CSR may be re"arded as ‘the panacea &hich &ill solve the "lobal poverty "ap, social e*clusion and environmental de"radation’ (2an 'arre&i3% 200 ). Corporate Social Responsibility is the continuin" commitment by business to behave ethically and contribute to economic development &hile improvin" the 4uality o! li!e o! the &or%!orce and their !amilies as &ell as o! the local community and society at lar"e. )he study aims to detail the various corporate social responsibilities underta%en by 5r. Reddy’s lab !or the &el!are o! public. )he concept o! ‘social licence’ is an abstract one, the interpretation o! &hich varies. )his is understandable in a corporate &orld "rapplin" &ith varyin" de"rees o! success &ith a ran"e o! concepts such as CSR, triple bottom line,
40
and socially responsible investment. 6o&ever, it is critical that corporations understand and embrace this relationship &ith the broader society in &hich they operate. 7 popular e*planation o! the term CSR is the continuin" commitment by businesses to behave ethically and contribute to economic development, &hile improvin" the 4uality o! li!e o! the &or%!orce and their !amilies as &ell as o! the local community and society at lar"e. 0ver the last years an increasin" number o! companies &orld&ide started promotin" their business throu"h Corporate Social Responsibility strate"ies because the customers, the public and the investors e*pect them to act sustainable as &ell as responsible. .n some cases, CSR is a result o! a variety o! social, environmental and economic pressures &hile some other cases many lar"e corporations, it is primarily a strate"y to divert attention a&ay !rom the ne"ative social and environmental impacts o! their lives. .t enables the company to levera"e its products, employee stren"th, net&or%s and pro!its and up to some e*tent to create a sustainable chan"e !or mar"inali+ed communities
40
TITLE OF TOPIC
)he topic is titled as 8Corporate Social Responsibility9 &ith speci!ic re!erence o! 5r. Reddy’s :aboratory
OBJECTIVE OF THE STUDY
?
)o underta%e a "eneral research on corporate social responsibility underta%en by 5r. Reddy’s :aboratory
?
)o study the contribution o! leadership and mana"ement practice in the area o! corporate social responsibility.
?
)o !acilitate the ac4uisition and dissemination o! %no&led"e about practice in corporate social responsibility.
SCOPE OF THE STUDY
'any o! the insi"hts and recommendations !rom this report may also be relevant !or local and national private sector en"a"ement1 ho&ever, the e*tent to &hich local and national private sector actors can contribute CSR is a topic that merits additional revie& 7 literature revie& has been complemented &hich provides insi"ht into the diversity o! CSR approaches and their implementation.
40
LIMITATION OF THE STUDY
•
)his study is based upon the literature present ( secondary data only, so the study in itsel! is con!ined up to a certain e*tent.
•
5ue to paucity o! time and limits the CSR activities o! companies are described in short and there is a scope o! more detailed study.
•
)he comparison is based on the 4ualitative in!ormation. )here is not much in!ormation avai:aboratoryle on the CSR e*penditure o! company and its brea% up so the comparison is limited in its scope.
•
)here &as no interaction &ith any pro!essional o! the companies studied so study lac%s practical approach.
PERIOD OF STUDY
)he study &as conducted !or a duration o! 4 months i.e !rom ;uly 20< to 0ctober 20< .
40
CHAPTER II – PROFILE OF Dr. REDDY’s LABORATORY
40
INTRODUCTION - DR’REDDY LABORATORIES
5r. Reddy’s :aboratories &as !ounded by 5r 7n3i Reddy, an entrepreneur=scientist, in ?4. )he 5@7 o! the company is dra&n !rom its !ounder and his vision to establish .ndia’s !irst discovery led "lobal pharmaceutical company. .n !act, it is this spirit o! entrepreneurship that has shaped the company to become &hat it is today. 5r 7n3i Reddy, havin" moved out o! Standard 0r"anics :imited, a company he had success!ully co=!ounded, started 5r. Reddy’s :aboratories &ith A 40,000 in cash and A , thereby becomin" the !irst pharmaceutical company in .ndia to do so. 5r. Reddy’s mission &as to provide innovative ne& medicines !or healthier lives, at a price the common man can a!!ord. 5r. Reddy &as also the !ounder o! 6yderabad based .nstitute o! :i!e Sciences, a public=private partnership &ith the Kovernment o! 7ndhra ,radesh !ocused on cuttin" ed"e research in :i!e Sciences. 7 humanitarian, 5r. Reddy’s &or% in the !ield o! outcome based institutionali+ed philanthropy is le"endary. 6is sustained e!!orts in this area have had a tremendous impact
40
on improvin" the lives o! nearly $ million underprivile"ed people in .ndia, especially youth and children.
Hith the intent to &or% closely &ith the .ndian Kovernment and !ul!ill his vision o! a poverty=!ree .ndia, 5r. Reddy had set up @aandi Ioundation in >? as a ,ublic Charitable )rust. 0peratin" in multiple states, this is one o! the bi""est social enterprises in .ndia and provides clean drin%in" &ater and mid=day meals to children and !armers. Sa!e motherhood and ne&born care &ere very close to 5r. Reddy’s heart, &hich is &hy he had !ounded @.CG Ioundation, dedicated to&ards improvin" maternal health and combatin" in!ant and child mortality.
5r. Reddy served as a 'ember o! the ,rime 'inister’s Council on )rade ( .ndustry, Kovernment o! .ndia. 6e &as a Iello& o! the .ndian @ational 7cademy o! Gn"ineerin" and the Chairman o! 7ndhra ,radesh .ndustrial 5evelopment Corporation (7,.5C). 6e &as also the ,resident o! )he .ndian ,harmaceutical 7lliance and had served as a #oard 'ember o! K7.@, S&it+erland (Klobal 7lliance !or .mproved @utrition and a #oard o! 5irector !or )# 7lliance, @e& For% (Klobal 7lliance !or )# 5ru" 5evelopment).
5r. Reddy &as a recipient o! several national and international reco"nitions and :i!etime 7chievement 7&ards. .n 7pril 20>, promotes tailor made pro"rams tar"eted at youth in the a"e "roup o!
The topic is titled as “Corporate Social Responsibility” with specific reference of Dr. Reddy’s Laboratory
CHAPTER I – INTRODUCTION
40
INTRODUCTION OF TOPIC
Corporate social responsibility (CSR) has variously been described as a ‘motherhood issue’ (Ryan 2002, p. 02) ‘the hot business issue o! the nou"hties’ (#lyth 200$, p. 0) and ‘the tal% o! the to&n in corporate circles these days’ ('ees ( #onham 2004). )here seems to be an in!inite number o! de!initions o! CSR, ran"in" !rom the simplistic to the comple*, and a ran"e o! associated terms and ideas (some used interchan"eably), includin" ‘corporate sustainability, corporate citi+enship, corporate social investment, the triple bottom line, socially responsible investment, business sustainability and corporate "overnance’ (,rime 'inister-s Community #usiness ,artnership). .t has been su""ested that ‘some/researchers/distort the de!inition o! corporate social responsibility or per!ormance so much that the concept becomes morally vacuous, conceptually meanin"less, and utterly unreco"ni+able’(0rlit+%y 200$)1 or CSR may be re"arded as ‘the panacea &hich &ill solve the "lobal poverty "ap, social e*clusion and environmental de"radation’ (2an 'arre&i3% 200 ). Corporate Social Responsibility is the continuin" commitment by business to behave ethically and contribute to economic development &hile improvin" the 4uality o! li!e o! the &or%!orce and their !amilies as &ell as o! the local community and society at lar"e. )he study aims to detail the various corporate social responsibilities underta%en by 5r. Reddy’s lab !or the &el!are o! public. )he concept o! ‘social licence’ is an abstract one, the interpretation o! &hich varies. )his is understandable in a corporate &orld "rapplin" &ith varyin" de"rees o! success &ith a ran"e o! concepts such as CSR, triple bottom line,
40
and socially responsible investment. 6o&ever, it is critical that corporations understand and embrace this relationship &ith the broader society in &hich they operate. 7 popular e*planation o! the term CSR is the continuin" commitment by businesses to behave ethically and contribute to economic development, &hile improvin" the 4uality o! li!e o! the &or%!orce and their !amilies as &ell as o! the local community and society at lar"e. 0ver the last years an increasin" number o! companies &orld&ide started promotin" their business throu"h Corporate Social Responsibility strate"ies because the customers, the public and the investors e*pect them to act sustainable as &ell as responsible. .n some cases, CSR is a result o! a variety o! social, environmental and economic pressures &hile some other cases many lar"e corporations, it is primarily a strate"y to divert attention a&ay !rom the ne"ative social and environmental impacts o! their lives. .t enables the company to levera"e its products, employee stren"th, net&or%s and pro!its and up to some e*tent to create a sustainable chan"e !or mar"inali+ed communities
40
TITLE OF TOPIC
)he topic is titled as 8Corporate Social Responsibility9 &ith speci!ic re!erence o! 5r. Reddy’s :aboratory
OBJECTIVE OF THE STUDY
?
)o underta%e a "eneral research on corporate social responsibility underta%en by 5r. Reddy’s :aboratory
?
)o study the contribution o! leadership and mana"ement practice in the area o! corporate social responsibility.
?
)o !acilitate the ac4uisition and dissemination o! %no&led"e about practice in corporate social responsibility.
SCOPE OF THE STUDY
'any o! the insi"hts and recommendations !rom this report may also be relevant !or local and national private sector en"a"ement1 ho&ever, the e*tent to &hich local and national private sector actors can contribute CSR is a topic that merits additional revie& 7 literature revie& has been complemented &hich provides insi"ht into the diversity o! CSR approaches and their implementation.
40
LIMITATION OF THE STUDY
•
)his study is based upon the literature present ( secondary data only, so the study in itsel! is con!ined up to a certain e*tent.
•
5ue to paucity o! time and limits the CSR activities o! companies are described in short and there is a scope o! more detailed study.
•
)he comparison is based on the 4ualitative in!ormation. )here is not much in!ormation avai:aboratoryle on the CSR e*penditure o! company and its brea% up so the comparison is limited in its scope.
•
)here &as no interaction &ith any pro!essional o! the companies studied so study lac%s practical approach.
PERIOD OF STUDY
)he study &as conducted !or a duration o! 4 months i.e !rom ;uly 20< to 0ctober 20< .
40
CHAPTER II – PROFILE OF Dr. REDDY’s LABORATORY
40
INTRODUCTION - DR’REDDY LABORATORIES
5r. Reddy’s :aboratories &as !ounded by 5r 7n3i Reddy, an entrepreneur=scientist, in ?4. )he 5@7 o! the company is dra&n !rom its !ounder and his vision to establish .ndia’s !irst discovery led "lobal pharmaceutical company. .n !act, it is this spirit o! entrepreneurship that has shaped the company to become &hat it is today. 5r 7n3i Reddy, havin" moved out o! Standard 0r"anics :imited, a company he had success!ully co=!ounded, started 5r. Reddy’s :aboratories &ith A 40,000 in cash and A , thereby becomin" the !irst pharmaceutical company in .ndia to do so. 5r. Reddy’s mission &as to provide innovative ne& medicines !or healthier lives, at a price the common man can a!!ord. 5r. Reddy &as also the !ounder o! 6yderabad based .nstitute o! :i!e Sciences, a public=private partnership &ith the Kovernment o! 7ndhra ,radesh !ocused on cuttin" ed"e research in :i!e Sciences. 7 humanitarian, 5r. Reddy’s &or% in the !ield o! outcome based institutionali+ed philanthropy is le"endary. 6is sustained e!!orts in this area have had a tremendous impact
40
on improvin" the lives o! nearly $ million underprivile"ed people in .ndia, especially youth and children.
Hith the intent to &or% closely &ith the .ndian Kovernment and !ul!ill his vision o! a poverty=!ree .ndia, 5r. Reddy had set up @aandi Ioundation in >? as a ,ublic Charitable )rust. 0peratin" in multiple states, this is one o! the bi""est social enterprises in .ndia and provides clean drin%in" &ater and mid=day meals to children and !armers. Sa!e motherhood and ne&born care &ere very close to 5r. Reddy’s heart, &hich is &hy he had !ounded @.CG Ioundation, dedicated to&ards improvin" maternal health and combatin" in!ant and child mortality.
5r. Reddy served as a 'ember o! the ,rime 'inister’s Council on )rade ( .ndustry, Kovernment o! .ndia. 6e &as a Iello& o! the .ndian @ational 7cademy o! Gn"ineerin" and the Chairman o! 7ndhra ,radesh .ndustrial 5evelopment Corporation (7,.5C). 6e &as also the ,resident o! )he .ndian ,harmaceutical 7lliance and had served as a #oard 'ember o! K7.@, S&it+erland (Klobal 7lliance !or .mproved @utrition and a #oard o! 5irector !or )# 7lliance, @e& For% (Klobal 7lliance !or )# 5ru" 5evelopment).
5r. Reddy &as a recipient o! several national and international reco"nitions and :i!etime 7chievement 7&ards. .n 7pril 20>, promotes tailor made pro"rams tar"eted at youth in the a"e "roup o!