THE ORCHID: A CASE STUDY OF CORPORATE SOCIAL RESPONSIBILITY DOC

Title	THE ORCHID: A CASE STUDY OF CORPORATE SOCIAL RESPONSIBILITY
Author	Sachin Pendse
Pages	11
File Size	71.5 KB
File Type	DOC
Total Downloads	1
Total Views	26

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THE ORCHID: A CASE STUDY OF CORPORATE SOCIAL RESPONSIBILITY. Author: S.S.PENDSE. Tolani College of Commerce, Andheri East, Mumbai 400093. Abstract: The term CSR came into use around decade of 70's. The increasing awareness about the role of industries towards environment and its associated problems brought about a gradual change in the attitude of business houses making them more responsible towards society. There was a positive change being brought about and a realignment of the corporate values and behavior was seen. The corporate today are falling in line with the expectations and needs of stakeholders - not just customers and investors, but also employees, suppliers, communities, regulators, special interest groups and society as a whole. One of the sectors in our economy often referred to as smokeless industry is tourism. Tourism has generated huge incomes, which is crucial foreign currency earner and that too in cash for a country like ours. Tourism sector contributes some 6.23% to the GDP and provides employment to 8.78% of total employment in India. India receives about 5 million plus foreign tourists and about 562 million domestic tourists. The tourism sector has generated a whooping 100 billion $ US in 2008 and the projected figures indicate to amount to go up to 218$ US by 2018, with an annual growth rate of 9.4%. According to World Travel and Tourism Council, India will be a tourism hotspot from 2009–2018, having the highest 10-year growth potential. The Travel & Tourism Competitiveness Report 2007 ranked tourism in India 6th in terms of price competitiveness and 39th in terms of safety and security. One important arm of tourist industry is the Hotel Industry. Today the hotels provide 110,000 rooms and with the projected increase in tourist visits is preparing for adding 60, 000 quality rooms. The hotel industry forms a large part of the tourism industry and if not managed properly, it has the potential to be detrimental to the social and natural environments within which it functions. Hotels are also resource intensive and in order to reduce their impact, it is imperative to go "green!" One of the classic examples of a hotel which has taken up its commitment towards environment protection through its efforts is 'The Orchid'. The Orchid is the first hotel in Asia to be awarded the ECOTEL title way back in the year 2000 and has the status of industry pioneer by ECOTEL for leadership in the field of environmentally responsible hotel design and...