Corporate Social Responsibility

CSR is not a common term. One large company prefers sustainable development or sustainable business. Several Indian companies talked about responsible business or Triple P (People, Planet, and Profit).
CSR definition
MNCs generally define CSR as Triple P: People, Planet and Profit. It depends partly on the business sector which aspects are more developed. E.g. industrial companies give more emphasis to environment.
Those SMEs which have a CSR policy, have formulated a very limited policy, e.g. a tour operator only formulated an environmental policy statement. Those SMEs without a formal policy do mention respect for environment, but more in the sense of obvious in-company measures (light-off when leaving the room, separate waste collection) and adherence to legal obligations in the field of environment.
Business sector
The business sector in which a company operates affects the CSR policy of a company equally for small and large companies. Implementing an integral CSR policy appears to be more difficult in sectors with a so-called ‘no-nonsense’ culture, as was confirmed by a chemical company and a producer of car parts. These companies may be far advanced concerning their technical environmental practice, but give little attention to social issues.
Hardly a day goes by without some mention in the media of
corporate social responsibility and its growing significance on
good business practices. CSR, as it is commonly known, is
becoming increasingly important to us all, both as individuals
and in our professional lives. Despite much public focus on
large multinationals, it is the changing behaviour of the
privately held business sector that is likely to make the greatest
impact on global corporate social responsibility. Privately held
businesses have always been the economic engine of the world,
but in recent years their voice has been lost under the clamour
of the large multinationals.
Businesses are demonstrating that well managed
corporate... [continues]

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