Emerging Trends in CSR in India
Corporate Social Responsibility or CSR as is popularly known is a system of gauging an organization’s bearing on society and weighing their responsibilities. CSR is not just about getting involved in some charitable practices or having ecological responsibility and a recycling policy. It is about the whole representation of the company which is to be considered, from internal practices to their clients, taking in every stride that a business takes during its usual operations. It is a continuous commitment that companies should have towards the economic, social and environmental development of the community in which they operate. Several companies have now enthusiastically taken up to the cause of CSR in countries with rising economies such as India. Corporate social responsibility is sustainable, which involves companies to take up activities without having negative impact on their business. In India several companies have started realizing that it is a sensible move to take up CSR activities and integrate it with their business process. Corporations are becoming increasingly aware of their role towards the society. They are responsible bodies that feel a sense of duty towards the common welfare and the environment. This comes with a growing realization that they, as an integral part of this society themselves, can contribute to its upliftment and empower of the entire country in turn. Thus Companies now are setting up specific departments and teams that develop policies, strategies and goals which are for their CSR programs and allocate separate budgets to support them. These programs are based on well-defined social beliefs or are carefully aligned with the companies’ business domain. In the modern era, the new generation of corporate leaders considers optimization of profits as the key, rather than the maximization of profit. Hence there is a shift of paradigm from accountability to shareholders to accountability to...
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