Corporate Social Responsibility Management by Companies

  • Aditya Kumar Sharma

Abstract

Worldwide, corporate social responsibility (CSR) is a buzzword. In today's globalized environment, the introduction of CSR into industry is one of the major challenges faced by businesses. Stakeholders require much more from corporations than just the promotion of growth and profitability. In India and other developing markets, CSR has come a long way. Corporations have clearly proven their desire to make a positive impact in culture and enhance the general quality of living, from responsive practices to environmental programs. The emphasis of this paper is on the CSR definition, its dimensions and its significance in emerging markets, with particular regard to India. In India, the Corporate Social Responsibility (CSR) concept is not recent. It arose from the 'Vedic era' when history in India was not documented. For that time. Kings had a duty to society and through building houses of worship, school, inns and wells, merchants demonstrated their own corporate responsibility. During the past four decades, Corporate Social Responsibility has been described and conceptualized in many ways following a continuum of study, discussion and academic confrontation around the issue. The 'Corporate Social Responsibility' (CSR) definition applies to 'soft' voluntary self-regulation implemented by corporations to strengthen the company's facets, which can apply to labor, environment.

Published
2019-10-16
Section
Articles