Developing Corporate Strategic Framework to Enhance Sustainability Through CSR
11 Pages Posted: 5 Apr 2015
Date Written: April 3, 2015
Corporate Social Responsibility (CSR) is a buzz word in all public platforms, research conferences, universities, politics and media. CSR is neither new in India, nor widespread in its real sense. Few companies carried out implicitly and seldom explicitly CSR activities as part of their routine activities since decades. CSR activities became topic of discussion in last decade. As a result many companies joined the flock to carry out CSR in absence of any mandate, on their own. Then came the law on CSR in India. CSR activities as applicable under the new company law in India may be used as sustainability strategy by the business. In order to comply with the mandate and with a positive mind set to augment implied benefits thereof, author investigates selected business scenarios to find an optimal pattern of CSR activities that may have long term beneficial impact to the critical stakeholders. This strategic framework propose sustainability model over triple bottom line by addressing holistic issues in the business process: internal & external stakeholders, active & passive stakeholder, and living & non-living stakeholders. After enactment of sec. 135 under Companies Act 2013, India's specified companies have mandate for CSR. The paper discuss strategic framework for optimum and sustainable development.
Keywords: CSR, Corporate Social Responsiblies, Indian Companies Act 2013
JEL Classification: I00, Z00
Suggested Citation: Suggested Citation