Csr : A Corporate Social Responsibility

The organization’s strategy plan for any gaps in social responsibility that might be potential risks to internal and external stakeholders is challenging, but this company certainly does not allow for corruption. On April 1 “India has become the only country in the world with legislated corporate social responsibility (CSR) and a spending threshold of up to $2.5 billion (Rs 15,000

Corporate social responsibility (CSR) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism that has business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process with the aim to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered stakeholders. CSR is titled to aid an organization's mission as well as a guide to what the company stands for and will uphold to its consumers. Development business ethics is one of the forms of applied ethics that examines

Based on my interpretation of CSR, I see it as a voluntary obligation that companies have promised to their stakeholders to fulfill by improving, or at least not harm, the environmental and social wellbeing. When companies engage in CSR, they voluntarily promise to, for example, carry the responsibility to protect the environment and take actions against bribe or other corruptive activities related to their business. It certainly has some positive influences to specific areas based on my knowledge gained from other classes; nevertheless, when judge CSR in the context of total impacts on our society and environment, it is obvious that CSR has failed its mission to lessen the negative impacts of business based on the evidences that provided by the author. Also, since there is a strong positive relationship between CSR behaviors and consumers’ reactions to a firm’s products and services, it seems to me, now, that CSR for the most companies is just a fancy cover that helps them to create or promote a good image and reputation. The recent case that shows the failure of CSR of Volkswagen even make me believe that CSR programs may be just a marketing or public relation exercise for many

Corporate Social Responsibility (CSR) is something that affects all companies and should be an active factor in the company’s decision making. It is something all corporations need to care about. CSR is when business’ or corporations take part in an initiative or campaign for a cause that will benefit society and/or in some way make the world a better place (Taylor, 2015). Initially, Corporate Social Responsibility started to take shape around the 1950’s, but some say that it dates all the way back to the 1800s, the idea of CSR was seen (Carroll, 2007). One may think that because it is dated so long ago, it doesn’t have an important impact today nevertheless, it is proven that Corporate Social Responsibility is a pathway for entities to self benefit as they are in the process of benefitting society.

In business world companies are interested in how to maintain or increase shareholder values and profit. So, in order to give something back to the general public, those companies have to assume their responsibilities by being aware of the effects of their activities in the community and take measures to control them because this can affect the community and the environment by polluting the air, destroying the ecosystem, over using natural resources and so on. CSR is often called corporate citizen which means that companies should be good neighbors of the community not to work against it but collaborate with the citizen or the society in order to increase their welfare, to make a community a better place to live.

The concept of Corporate Social Responsibility is a relatively new in the management field and there is no single definition of it since everyone’s interpretation of the term is different. “Corporate Social Responsibility means something, but not always the same thing to everybody.” (Votaw, 1972, p.25) and from my understanding of the concept, CSR to me is “The voluntary business activities within the boundary of law that contributes to the wider community for a more sustainable environment”. Since everyone has a unique interpretation of CSR, the range of relevant CSR practices across businesses has been quite diverse as there is no such thing as features of CSR (Marcel van Marrewijk, 2003). Rising environmental and social concerns in

Dean Roy Nash (2012) studied “CSR: contributions of Maharatna Companies of India” & found out that the commitment that has been really made by these companies in the CSR area. The Indian corporate sector is getting tough on CSR spending. It is more likely that CSR spending will be made mandatory in the coming 2012 budget. The gap between public and private companies with regard to CSR spending will be narrowed shortly. In this context the CSR activities of all the Maharatna companies should be taken as an ideal example and motivator by other corporates who wish to indulge sincerely in CSR activities of the

According to which business houses are looked upon as trustees of the resources which they draw from the society and are expected to return them back to the society in various forms. CSR is an extremely important concept for sustainable development of all stakeholders which includes all the people on whom the business has an impact particularly the society at large. Critics argue that CSR distract the companies from the economic role and dwindles their progress report, however the importance of CSR cannot be undermined. With the amendments of the companies act,Section 135 of the Companies Act, 2013 contains provisions exclusively dealing with Corporate Social Responsibility. Where in the meaning of “Corporate Social Responsibility (CSR)” has been defined very clearly. A new provision relating to Corporate Social Responsibility has been introduces with the Act which provides that every company having specifies net worth or turnover or net profit during any financial year shall constitute the Corporate Social Responsibility (CSR) Committee of it’s Board of Directors to formulate policies for the activities specified for the social and economic welfare of the people, particularly those who have remained deprived or neglected so

Corporate social responsibility is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. The goal of CSR is to embrace responsibility for the company 's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Furthermore, CSR-focused businesses would proactively promote the public interest (PI) by encouraging community growth and development, and voluntarily eliminating practices that harm the public

CSR is an important part of how a business operates in an ethical way, a corporation’s practices are deemed as ethical if it operates in such a way that is both clean and ecological to the environment, and one that abides by the law. By following this conduct, the corporation follows a much moral way of operating. A corporation that operates in harmful ways, such as exploitation, corruption

Corporate Social Responsibility is defined as “Accommodation of corporate behavior to society’s values and expectations”. CSR refers to corporate behavior that extent beyond the economic motives and legal requirements.

Corporate Social Responsibility (CSR) has gained a reasonable reorganization in the world of business. Organizations are now voluntarily putting their money in the public cause’s way more than they are required or forced by the law and proud present their doing their annual reports

It seems that the objective of the CSR has been misconstrued. Every company must have its CSR activities keeping in view the needs of the locality where it is situated and also the prevailing environment.

The concept of Corporate Social Responsibility (CSR) is not new in India. It emerged from the ‘Vedic period” when history was not recorded in India. In that

In recent past, the concept of Corporate Social Responsibility has gained much attention. The CSR and citizenship which aims at invoking the corporate conscience whereby the companies incur short term cost but these short term cost do not provide immediate financial benefit, instead these costs promote positive social environmental change. The Companies Act of 2013 which replaced the 60 years old Act of 1956 gave a provision with the concept of mandatory CSR. This research paper is focused on the provision relating to mandatory spending and disclosure relating to Corporate Social Responsibility activities. It also discusses the major loopholes of provision which hinders the practical applicability of Section 135 of the Companies Act, 2013