Published Paper


Awareness and Attitudes towards Corporate Social Responsibility: An Analysis Concerning the Beneficiaries of HPCL

Venkat Attada1, Prof. S. Sumitra2
Dr. B. R. Ambedkar College of Law, Andhra University, Visakhapatnam, India
Page: 1237-1260
Published on: 2024 September

Abstract

Ancient Greece witnessed the practices of corporate social responsibility and India is one of the countries in the world that have made CSR mandatory. The Indian government has recognized the value of this concept and the role it will play in today's economic, social and political situation. There has been a debate on whether it is a boon for society or a burden in terms of additional costs for businesses. The industrial sector has now realized that the companies can only do business if the society develops with prosperity and well-being. CSR has been institutionalized in India since the introduction of the Companies Act 2013, which mandates large companies to spend two percent of their average net profit on CSR activities. As companies navigate the complexities of CSR management in India, they are increasingly recognizing the value of beneficiary facts to understand and effectively uncover societal issues. This could be the result of social struggles in India and corporate philanthropy coupled with policy initiatives as observed earlier in the various CSR phases. Considering a certain awareness of citizens regarding various services, this analysis attempts to experimentally assess the impact on CSR beneficiaries of HPCL organization in Visakhapatnam City, Andhra Pradesh. Governments and non-governmental organizations work together like a dynamic duo to bring about positive change through CSR measures. We often witness the efforts that many industries, businesses and governments make to provide infrastructure and support for the well-being of people. These initiatives, whether through CSR measures or otherwise, are aimed at uplifting backward communities and improving their social lives. In the field of CSR and government sponsored infrastructure projects, attention is rightly focused on the organizations and institutions responsible for initiating and funding these efforts. Many established companies like HPCL, NTPC, STEEL PLANT, PORT, BHPV have a heart for social impact and a desire to give back to the communities they support. The government too plays an important and crucial role in promoting a better society by providing resources and implementing policies that serve the needs and welfare of the society. However, it is equally important to recognize the mutual responsibility that the beneficiaries of such initiatives bear. While businesses and governments play a central role in providing infrastructure for the common good, beneficiaries have an important role to play in ensuring the sustainability and effectiveness of these social developments.

 

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