Corporate Social Responsibility: Potential to Contribute Towards Inclusive Social Development

Abstract

“Corporate Social Responsibility is defined as operating a business that meets or exceeds the ethical, legal, commercial and public expectations that society has of business.” Corporate social responsibility (CSR) deals with the motivation and encouragement to take up socially responsible activities that will improve the economic and ethical standards. Companies should make sure that environment is no way affected by executing their business activities. Another dimension for CSR is to go beyond everyone’s expectation in giving back to society. This will display the commitment made by the company to serve its employees and the common public. This is a popular practice in the western countries. However, it is still in nascent stage in India. Though, the industries grow by a double digit ratio every year, there are several problems like illiteracy, poverty, lack of basic amenities etc. Government cannot eradicate all these problems at once and people need help from such companies also. The articles will try to examine these as well. So, this article provides a brief introduction of CSR, argument in favor and against and implementation is also discussed. We strongly believe that a careful study of the various dimensions of CSR would contribute to the process of strengthening and fine-tuning the CSR initiatives that are still in a fledgling state in our country.

Type: 
Management
Authors Name: 
Priya Dahiya, Rinki Dahiya