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Corporate Social Responsibility in Infosys Foundation International Journal of Research and Development - A Management Review (IJRDMR) _______________________________________________________________________________________________ Corporate Social Responsibility in Infosys Foundation Sandhya Mishra Dept of MBA, Gandhi Institute for Technology, Bubaneswar Corporate Social Responsibility (CSR) is viewed as a number of companies have recognized the business comprehensive set of policies and programmes that are benefits of Corporate Social Responsibility (CSR) integrated into business operations, supply chains and policies and practices. CSR is defined as “A concept decision-making processes throughout the company. The case deals with CSR initiatives of Indian IT major-Infosys Technologies Ltd. The company is actively involved in the areas of community involvement, human resource development, environmental contribution, product contribution and customer relations, rural development, and shareholders relations. The paper also provides an insight into the expected role of companies in CSR in the times of recession. Keywords: Corporate Social Responsibility, Community Involvement, Human Resources, Environmental Contribution, Product Contribution and Customer Relations, Shareholders’ Relations, Rural Development Source: Joshi and Kapoor (2004), p. 358 (Modified) Introduction Figure 1: Business Responsibility towards Different Sections of Society During the year 2008-09, Infosys Technologies, the Indian software giant won ‘Hitachi Data Systems’ whereby companies integrate social and environment Diamond Award for Best Virtualization Strategy and concerns in their business operations and in their ‘Platinum Award’ for Best Green Strategy for a Data interaction with their stakeholders on a voluntary basis, Centre. The company also received NASSCOM as they are increasingly aware that responsible (National Association of Software and Service behaviour leads to sustainable business success” Companies) Award for excellence in gender inclusivity Commission of the European Communities (2002). A at the NASSCOM IT Women Leadership Summit 2008 growing body of empirical studies demonstrates that in Bangalore (Annual Report ‘Infosys Technologies CSR has a positive impact on business economic Ltd.’, 2008-09). performance. Companies going for CSR activities have experienced a range of bottom line benefits, namely, Awareness of the impact of business on society and improved financial performance and reduced operating environment has grown along with the increasing socio- costs (Centre for Corporate Research and Training, regulatory pressures. This evolution has gradually led 2003; Agarwal, 2008), enhanced brand image and business to return the displaced social orientation. Many reputation (Krishna, 1992; Rashid and Ibrahim, 2002; firms are assuming increased Responsibility for both Centre for Corporate Research and Training, 2003; social and environmental well- being. Corporate Agarwal, 2008), increased sales and customer loyalty response to environmental and social issues is (Creyer and William, 1997), increased ability to recruit progressing through three stages of evolution: profit and retain employees (Turban and Greening, 1996; Luce maximization management, trusteeship management, et al., 2001; Centre for Corporate Research and Training, and quality of life management (Hay and Gray, 1977). 2003), easier access to capital (Spicer, 1978; Centre for The business depends on society for its existence, Corporate Research and Training, 2003) etc. sustenance and encouragement. Being too much dependent on society, business has definite In Indian context, CSR is not a new concept and can be responsibility towards different segments of society easily seen in the form of magnificent temples, high which is depicted in the figure 1. mosques, large dharamshalas and great educational institutions (Agarwal, 2008). In 1965, the Prime Though profit making is one of the main objectives of Minister of India presided over a national meeting that business but it has to satisfy its various stakeholders, issued the following declaration on the social viz., employees, consumers, government, community, responsibilities of business: “...business has and shareholders. Over the past few decades, a growing responsibility to itself, to its customers, workers, ________________________________________________________________________________________________ ISSN (Print): 2319–5479, Volume-5, Issue–1, 2016 99 International Journal of Research and Development - A Management Review (IJRDMR) _______________________________________________________________________________________________ shareholders, and the community…every enterprise, no philanthropic institutions and committed individuals matter how large or small, must, if it is to enjoy should co-operate and establish partnerships with the confidence and respect, seek actively to discharge its government institutions. This would lift millions of our responsibilities in all directions... and not to one or two people out of poverty, provide them with opportunities groups, such as shareholders or workers, at the expense and make them participate in the process and progress of of community and consumer. Business must be just and globalization.” Promoted by Infosys Technologies Ltd., humane as well as efficient and dynamic” (Brown, the Foundation began its work in Karnataka, India, 2001). The increasing relevance of CSR in India has gradually extending its activities to the states of Tamil stemmed from the fact that a business cannot succeed by Nadu, Andhra Pradesh, Maharashtra, Orissa and Punjab. ignoring the human and social needs of our society. In The Foundation supports the programmes and this age of widespread communication and growing organizations devoted to the cause of the destitute, the emphasis on transparency, customers of any product or rural poor, the mentally challenged and the economically service are not likely to feel satisfied in buying from a disadvantaged sections of the society. The Foundation company that violates the expectations of ethical and also helps in preserving certain cultural forms and dying socially responsible behaviour. Therefore, the companies arts of India. The foundation got the prestigious ET that pay genuine attention to the principles of socially Corporate Citizens Award (2000-2001) responsible behaviour are favoured by the public and (www.karnataka.com/ngos/infosys). The grants made by preferred for their goods and services (Sarkar, 2005). Infosys to the Foundation for the last three years are shown in the table 1. Company Profile Table 1: Grants to the Foundation Infosys Technologies Ltd. provides consulting and IT services to clients worldwide. Founded in 1981, by N.R. Year Grants (Rs. in Crores) Narayan Murthy and six of his colleagues. The corporate 2008 20.00 headquarters are based in Bangalore, India. However, 2007 19.00 Infosys offices span the globe. In 1987 Infosys got its 2006 13.25 first foreign client, Data Basics Corporation from the United States and opened its first office in the USA. In Source: Annual Report ‘Infosys Technologies Ltd.’, 1993, Infosys became a public limited company and 2007-08 successfully completed IPO (Initial Public Offer) in Various CSR dimensions, viz., Community Involvement, India. In the same year Infosys received ISO Human Resource Development, Environmental 9001/TickIT certification. Infosys set up its first office in Contribution, Product Contribution and Customers’ Europe in Milton Keynes, UK in 1996. In 1999, Relations, Rural Development, and Shareholders’ Infosys crossed $100 Million in annual revenue and was Relations have been considered in order to observe the listed on NASDAQ. It was Indian company to be listed initiatives of Infosys Technologies Ltd. in CSR. These on NASDAQ. In the same year Infosys opened offices in dimensions have been considered in the various studies Germany, Sweden, Belgium, and Australia. In 2000, conducted in past (e.g. Krishna, 1992; Brown, 2001; Infosys crossed $200 Million in annual revenue. In Confederation of Indian Industry, 2002; Centre for 2004, Infosys crossed US $1 Billion in annual revenue. Corporate Research and Training, 2003) for examining In 2006, Infosys completed 25 years of its existence and the CSR involvement of companies operating in India. its revenues crossed $ 2 billion. Today Infosys has more In addition to the above mentioned dimensions, Infosys’ than 50,000 employees and has presence in more than adherence to UN Global Compact Programme has also 20 countries across the world. Its corporate headquarters been observed. is in Bangalore. The company vision is to be the best globally, commercially and ethically. As such, Infosys The dimensions of CSR and Infosys’s initiatives (i.e. has developed a C-Life principle of core values that it details of CSR activities under different CSR aims to honour in all aspects of its business conduct. C- dimensions undertaken by the company) during 2006-07 LIFE: The Core Values of Infosys are: Customer to 2007-08 are shown in the table 2 and are explained as Delight, Lead by Example, Integrity and Transparency, follows: Fairness, and Excellence (www.Infosys.com) Community Involvement Education CSR at Infosys Technologies Ltd “Basic education links the children, whether of the cities Infosys Foundation, the philanthropic arm of Infosys or villages, to all that is best and lasting in India”, Technologies Ltd. came into existence on 4th December said Mahatma Gandhi (www.karmayog.org/ 1996 with the objective of
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