Corporate Social Responsibility - A Study on Mangalore Refinery and Petrochemicals Limited (MRPL)

Abstract

Purpose: In a competitive business climate, primarily determined by the passage of something like the Indian Companies Act-2013, corporate Sustainability obligations must be followed. Currently, corporations must strike a balance between their financial and economic objectives, as well as maximizing shareholder value while also providing social benefits to the community and helping to safeguard the environment. CSR covers actions for a better society authorized under the Companies Act, 2013 such as health, education, women’s empowerment, and environmental sustainability.

Methodology: Secondary data from research journal papers and specific websites on the research subject area was used in this research paper. These findings provide a conceptual framework for CSR operations, as well as an assessment of how MRPL Co. fulfils its commitments to all stakeholders, including particular activities, programmes, and projects. The study focuses on the company’s CSR implementation in order to determine the business’s focal area.

Findings: The analytical framework offered an overview of the organization’s CSR activities and expenditures, in addition to key focus areas and progress in each area of an organisation.

Practical Implications: From a practical standpoint, the proposed framework provides practitioners with a tool that explicitly gauges their companies’ CSR maturity. Stakeholder relations have been critical in the development of many poor regions within India for the MRPL Company. The idea of sustainable growth lies at the heart of both their business choices and Corporate Social Responsibility efforts.

Originality/Value: Using this study approach, we can find out what variables explain the different levels of CSR integration into a company's strategy and quantify the current maturity level.

Paper Type: Conceptual Research