Exploring the Benefits of Corporate Social Responsibility Initiatives in Britannia Industries Limited

Abstract

Corporate Social Responsibility (CSR) refers to the strategies that corporations adopt to manage their businesses and create an overall positive impact on society at large. A business operates in society and utilizes its resources. Hence, it becomes an obligation of the company to give back to society which it carries out by performing the CSR activities. A large number of companies are contributing towards the CSR activities mentioned in Schedule VII of the Companies Act, 2013. This research paper intends to measure the Corporate Social Responsibility practices in Britannia Industries Limited, one of the major players in the Indian Bakery Market. Furthermore, as part of its corporate responsibility efforts, it looks into the monetary backing that Britannia Industries Limited has provided for various social responsibility efforts and describes its contributions to health care, socioeconomic development, growth, and the advancement of children as well as its contribution to the regeneration of hospitals for women and children. The study used secondary data collected from the annual report and website of Britannia company. Most of the company's CSR activities are carried out by Britannia Nutrition Foundation which basically aims at programmes undertaken to fight malnutrition and undernutrition. Britannia also focussed to serve those less fortunate who were most affected by the unforeseen circumstances during Covid-19 pandemic. Hence, this paper is an effort to study the policies and strategies adopted by Britannia Industries Limited for promoting CSR whereby it has extended the acronym of CSR from Corporate Social Responsibility to Corporate Sustainable Responsibility.