Corporate Social Responsiility
Corporate Social Responsibility: Indian Experience
Dr. Devendra Kumar
Assistant Professor
L. N. Mishra College of Business Mangement, Muzaffarpur
Email: devenswamy@rediffmail.com
Prologue:
India is a fast growing economy and is booming with national and multinational firms. At the same time, the Indian land also faces social challenges like poverty, population growth, corruption, illiteracy just to name a few. Therefore it is all the more imperative for the Indian companies to be sensitized to corporate social responsibility (CSR) in the right perspective in order to facilitate and create an enabling environment for equitable partnership between the civil society and business. Actually in the today’s world everybody wants to be successful in the long terms. All businesses are dreaming about sustainable future and for that many of them have already accepted corporate social responsibility as a core of business handling. Essentially, it is an inter-disciplinary subject in nature and encompasses in its fold 1. Social, economic, ethical and moral responsibility of companies and managers 2. Compliance with legal and voluntary requirements for business 3. Challenges posed by needs of the economy and socially disadvantaged groups and 4. Management of corporate responsibility activities. Corporate social responsibility is not a new concept in India. However, what is new is the shift in focus from making profits to meeting societal challenges. Thus, the meaning of CSR is of two fold. On one hand, it exhibits the ethical behavior that an organization exhibits towards its internal and external stakeholders (customers as well as employees). On the other hand, it denotes the responsibility of an organization towards the environment and society in which it operates. These tough terminologies of corporate social responsibilities need to be explained. Corporate social responsibility (CSR) is a major buzzword within academic circles,
Dr. Devendra Kumar
Assistant Professor
L. N. Mishra College of Business Mangement, Muzaffarpur
Email: devenswamy@rediffmail.com
Prologue:
India is a fast growing economy and is booming with national and multinational firms. At the same time, the Indian land also faces social challenges like poverty, population growth, corruption, illiteracy just to name a few. Therefore it is all the more imperative for the Indian companies to be sensitized to corporate social responsibility (CSR) in the right perspective in order to facilitate and create an enabling environment for equitable partnership between the civil society and business. Actually in the today’s world everybody wants to be successful in the long terms. All businesses are dreaming about sustainable future and for that many of them have already accepted corporate social responsibility as a core of business handling. Essentially, it is an inter-disciplinary subject in nature and encompasses in its fold 1. Social, economic, ethical and moral responsibility of companies and managers 2. Compliance with legal and voluntary requirements for business 3. Challenges posed by needs of the economy and socially disadvantaged groups and 4. Management of corporate responsibility activities. Corporate social responsibility is not a new concept in India. However, what is new is the shift in focus from making profits to meeting societal challenges. Thus, the meaning of CSR is of two fold. On one hand, it exhibits the ethical behavior that an organization exhibits towards its internal and external stakeholders (customers as well as employees). On the other hand, it denotes the responsibility of an organization towards the environment and society in which it operates. These tough terminologies of corporate social responsibilities need to be explained. Corporate social responsibility (CSR) is a major buzzword within academic circles,
References: 1. Cherunalium, Francis; Strategic Management, 50-63, Himalaya Publishing House. 2. Nema, Archana & Churra, Hema; Sustainable Development through Corporate Social Responsibility, ‘Pratibimba’-The journal of IMIS. 3. Srivastava, R.M., Management Policy and Strategic Management: Concepts, Skills and Practices, 362-379, Himalaya Publishing House. 4. Singh, Dr. Manmohan, High Responsibility Entails Social Responsibility, Materials Management Review, March 2007, p-4, 5. 5. The challenges for corporate social responsibility in India by John Quigley 6. Some information from google.com 7. Some editorials of Hindu, Business Line and Wall Street Journal (((((