Corporate Social Responsibility -- Current Trends and scenario in India

Abstract

Corporate Social Responsibility has evolved overtime since the days of daan- punya to a more responsible role for the corporate along-side the government to ensure a better overall economic and social situation for the country. In today’s business, branding and sustainability are mega forces that are rapidly changing the way business compete and thrives. Think growing global population, urbanization, climate change, food, water and resource scarcity, as well as the increasing divide between the rich and poor. They are big issues with powerful influence. Universally, a company has an economic responsibility: it must earn a return for its stockholders within the confines of the law. However, corporate social responsibilities that go beyond their economic responsibilities. CSR requires organizations to expand their understandings of their understandings of their responsibilities to include other stakeholders such as employees, customers, suppliers, local communities, state governments, international organizations. It is the corporate institution that has a brand or a reputation to uphold, a client to ensure the welfare of and address the growing influence of socio-economic factors that are influencing global markets and local citizens everywhere in the world-far more significantly in a developing economy such as ours.