Corporate Social Responsibility (CSR) in India: A Review

Abstract

Corporate Social Responsibility (CSR) is a concept, which states that private corporation or public organisation has a responsibility to the society they belong to. It minimises the cost as well as risks, thereby, increasing the brand value and reputation of the company. According to Howard Bowen (pp. 3), “CSR refers to the obligations of businessmen to pursue those policies to make those decisions or to follow those lines of relations which are desirable in terms of the objectives and values of our society.” The CSR activities need to be in tune with effective strategic policies so that the aim of sustainable environmental, social and economic progress may be achieved. This article seeks to explain various initiatives taken in the field of CSR by the different companies of India. In doing so, it discusses the growth and the key challenges faced while trying to deliver the activities of CSR.

Keywords: Social Responsibility, Strategic Policies, CSR, Community Volunteering, Economic Progress