Q4. Corporate social responsibility is the set of actions and initiatives taken as part of the organizations aim to analyze the impact of its operations on society and environment and take concrete actions to have a positive foot print on the community that it interacts with.
TATA Group of India is known for its philanthropy and corporate social responsibility initiatives. The steel mills of TATA Group are located in remote areas wherein there is a significant tribal population and TATA Group has contributed significantly to enhance their lives. They have invested in education and healthcare facilities and ensured that tribal people are also integrated into the mainstream and development reaches them adequately.
The strength of TATA Group are following:
Diversified business
Well entrenched business model and large resources at disposal.
Large size and thus could fend of competitors.
Weakness of TATA Group:
Many group companies are not performing well.
Too many companies in similar industries.
Complicated corporate structure.
Cannibalization of goods is possible among group entities.
Another corporation which is no known for its CSR is Reliance Industries of India. Although it is huge corporation, they don’t have a very active CSR programme and ae not known for philanthropic activities. The strength of Reliance Industries are:
Huge scale of business which makes competitors entry very difficult.
Conglomerate with diversified business interest reduces risks.
Excellent project management capabilities to execute large projects within time and cost.
Weaknesses:
Largely dependent on oil & gas demand to drive profit
Large organization and hence not very flexible for change
Huge investments in new businesses which might put a strain on financial performance.
The choice was made to select these organizations as these are large and established business entities and have the wherewithal to engage in meaningful corporate social responsibility programme.
Q5.
Crisis management is process of planning and executing steps to minimize damage arising out a crisis, allocating resources during the crisis and managing communication within and outside the organization during the period which is characterized by the crisis.
A crisis management plan should be drawn up by the organization during the risk assessment stage itself. That is planning should be done much before actual crisis strikes and should be done on a routine and proactive manner.
For example in a data services company providing cloud services to clients, a crisis management plan for data backup and recovery should be put in place immediately on the day the server farm is put into operation. The plan should include data backup frequency, steps to be taken in case of disaster, disaster recovery operating procedures and client communication procedures to ensure business continuity and seam less transition from primary to backup servers in case of a crisis or a disaster.
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