#2010-026 CSR and market changing product innovations: Indian case studies
Shyama V. Ramani & Vivekananda Mukherjee
CSR and market changing product innovations: Indian case studies
Do firms need to sacrifice profit while innovating in order to further
social objectives, as corporate social responsibility (CSR) would seem
to suggest? To answer this question, the paper compiles a classification
of innovations according to market impact and CSR potential. Then it
details case studies of two market changing (MC) innovations in India:
genetically modified cotton of Monsanto and a drugs cocktail for
HIV/AIDS of Cipla. It demonstrates that the CSR potential of an MC
innovation can directly serve to increase profits and augment bargaining
power in conflicts if it is supported by a robust business model.
Keywords: CSR, Monsanto, CIPLA, Innovation.
JEL Codes: M14, O32
UNU-MERIT Working Papers ISSN 1871-9872