Case Study-CSR as a Tool for Re-Branding

Abstract

CSR is no longer philanthropic or a publicity campaign, rather it is a business tool. Companies have been taking up social welfare activities from time to time. Recently the business priorities have emerged into Public Private People Partnership (PPPP) for social causes. Short term charity based welfare programs and interventions are now are not sustainable but CSR brings about sustainability. Business houses have begun to realize that they can flourish only on successful societies. While CSR is relevant for the industry point of view, it is particularly significant for Industries in developing countries like India, where it can contribute towards increasing the limited resources for meeting the ever growing aspirations and diversity of a pluralistic society. CSR intervention is not based on personal agendas but should have leadership commitments, innovative approaches and partnerships towards improving the social conditions of the community. Further, the synergy of corporate action with the government and the civil society make CSR interventions more effective. The studied case of Tata Refractory has been credited for aggressively pursuing several corporate social responsibility (CSR) initiatives in India. The case describes the vision and mission of Tata Refractory which places importance on CSR. It then examines how the group's vision is translated into action through the various community development initiatives. Driven by outside pressure, a set of ethical principles were declared but they received little attention since their press release was poorly timed; the press release coincided with close down of unit at Belpahar, Orissa due to unethical business conduct concerning to environmental issue . These cases discusses, how the Tata Refractory had gone about integrating various CSR initiatives , the measures it is adopting for institutionalizing the concept and the various benchmarks adopted. Finally, the case examines how Tata Refractory is integrating CSR with its business processes in the organization's journey towards Brand excellence not only in Domestically but also Globally. Branding represents a cornerstone in the corporate marketing umbrella. It is a simplifying symbol that helps stakeholders distinguishes between sales offers. Credence values such as social responsibility and ethical business conduct are intangible; the brand thus becomes a guarantee for the communicated social values.