Abstract: Globally, there is growing concern about the impact of business on environment and society. It is not enough for businesses to get financial returns only; they need to get social returns also. Financial performance alone is not the indicator of success for a business today. Important indicator of sustainable development of economy is measuring the performance of businesses in terms of what impact their operations have had on environment, society and government. Corporate social responsibility or CSR is a process to ensure businesses are conducting sustainable business activities in a manner that has a positive impact on consumers, employees, communities, general public and the environment. An increasing number of companies have started promoting their businesses by applying CSR strategies because the customers, the public and the investors expect the business people to do business in a sustainable and responsible manner. Also the governments of various countries want the business units to include CSR in their vision, mission and in their strategic plans. They want corporations to implement CSR initiatives which would bring about overall development of society and their businesses. Through these CSR initiatives, government wants to bring about rural development too. So, Corporate Social responsibility (CSR) is basically a concept which corporates voluntarily adopt in order to achieve a better society and cleaner environment. This article deals with what is CSR, its evolution in India, the benefits of CSR, the current CSR practices of eminent Indian companies and the deceptive claims companies make of being good corporate citizens.
Keywords: Corporate social responsibility, Sustainable development, CSR practices, social returns.
Title: CSR IN THE INDIAN SCENARIO
Author: Ms. TANUJA NAIR
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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