Helping communities is an inherent part of its business strategy; so is weeding out corruption. By naresh minocha
There are many companies, which look at the entire issue of corporate – social responsibility (CSR) as an effort, as something they have to do to either to cater to legal compulsions, or to add incrementally to corporate image and credibility. But most of these firms don’t believe in the concept. Then there are a few business families – like the Tatas – who have traditionally invested in philanthropy; for them, it is a part of business values that have been ingrained over decades.
The city gas networks directly touch the common man by bringing the cheapest fuel, compressed natural gas (CNG), for public transport and piped gas (which is cheaper than LPG) to the kitchen. The toughest challenge for GAIL would arise when it gets an opportunity to facilitate rural gas distribution network that would supply affordable gas to households and village artisans and micro enterprises.
The company’s business is not to just keep propping up its topline and bottomline, but to also enable the aam adami, corporates, and the national exchequer to multiply wealth. And the beneficiary companies can’t suppress their glee at the laying of a pipeline and supply of gas. Take the case of Deepak Fertilisers and Petrochemicals Corporation (DFPC) that operated its fertilisers-cum-petrochemical complex at Taloja near Mumbai as a lame duck operation over the past few years due to shortage of gas, and now seems to coming back to real action.
The first highlight of the DFPC’s latest quarterly results stated: “The DUPL (Dehej-Uran Pipeline of GAIL) has now been commissioned and the supplies of LNG (regassified, imported liquefied natural gas) to the company have been received.” This has enabled the company to bounce back. But even as blue-chip companies grope for ways of embedding CSR into their strategic business models, GAIL has made CSR an integral part of its business right from its incorporation in 1984.
There are many companies, which look at the entire issue of corporate – social responsibility (CSR) as an effort, as something they have to do to either to cater to legal compulsions, or to add incrementally to corporate image and credibility. But most of these firms don’t believe in the concept. Then there are a few business families – like the Tatas – who have traditionally invested in philanthropy; for them, it is a part of business values that have been ingrained over decades.
The city gas networks directly touch the common man by bringing the cheapest fuel, compressed natural gas (CNG), for public transport and piped gas (which is cheaper than LPG) to the kitchen. The toughest challenge for GAIL would arise when it gets an opportunity to facilitate rural gas distribution network that would supply affordable gas to households and village artisans and micro enterprises.
The company’s business is not to just keep propping up its topline and bottomline, but to also enable the aam adami, corporates, and the national exchequer to multiply wealth. And the beneficiary companies can’t suppress their glee at the laying of a pipeline and supply of gas. Take the case of Deepak Fertilisers and Petrochemicals Corporation (DFPC) that operated its fertilisers-cum-petrochemical complex at Taloja near Mumbai as a lame duck operation over the past few years due to shortage of gas, and now seems to coming back to real action.
The first highlight of the DFPC’s latest quarterly results stated: “The DUPL (Dehej-Uran Pipeline of GAIL) has now been commissioned and the supplies of LNG (regassified, imported liquefied natural gas) to the company have been received.” This has enabled the company to bounce back. But even as blue-chip companies grope for ways of embedding CSR into their strategic business models, GAIL has made CSR an integral part of its business right from its incorporation in 1984.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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