Efficacy of Integrating Corporate Social Responsibility and Procurement Strategy : A Case Study of Leading Cotton Textile Manufacturing Company in India

The idea of corporate social responsibility (CSR) is not something new for the corporate world. However, in the recent past, there has been a shift as far as understanding and implementation of CSR is concerned. CSR rather than being a philanthropic activity has started being looked at by the modern day managers as an integral part of the business proposition itself in the era of globalization and cut-throat competition; it is not possible to spend on anything which does not make business sense. This paper takes the case of an Indian Textile Company, which in association with a university, banks, and competitors has taken a major initiative in the area of CSR. The program has been helping the hapless farmers of the Indian state of Punjab and at the same time, it makes a huge business sense for the company itself in the long run