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Corporate Social Responsibility: A Philosophy or Vision About The Relationship of Business and Society

The document discusses corporate social responsibility (CSR) in India. It notes that CSR involves companies considering the interests of society through responsible business practices. India became the first country to mandate CSR through legislation requiring large companies to spend 2% of profits on CSR activities. While CSR traditionally involved philanthropic donations, the focus is now on sustainable practices that benefit communities and companies' long-term profitability. CSR and community development are seen as mutually beneficial for business growth and thriving societies.

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Akhil Vashishtha
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23 views

Corporate Social Responsibility: A Philosophy or Vision About The Relationship of Business and Society

The document discusses corporate social responsibility (CSR) in India. It notes that CSR involves companies considering the interests of society through responsible business practices. India became the first country to mandate CSR through legislation requiring large companies to spend 2% of profits on CSR activities. While CSR traditionally involved philanthropic donations, the focus is now on sustainable practices that benefit communities and companies' long-term profitability. CSR and community development are seen as mutually beneficial for business growth and thriving societies.

Uploaded by

Akhil Vashishtha
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Corporate Social Responsibility

A philosophy or vision about the relationship of business and society. Concept that encourages organisations to consider the interests of society by taking

responsibility for the impact of organisations activities on customers, employees, shareholders, communities and the environment in all aspects of its operations.

CSR a statutory provision


Governments new Companies Bill 2011, asks large companies to spend 2% of their net profit

on CSR.
With this India became the first country to

mandate corporate social responsibility (CSR) through a statutory provision.

Then & Now


Traditionally, CSR existed philanthropically and largely revolved around activities like donations,

planting trees, community development, setting up schools and hospitals, and so on. While the above are important components, they are not self-sustainable. Their survival is dependent on the profitability of business. Hence, adopting sustainable practices, that in addition to bringing goodwill helps a company remain profitable, is the need of the hour.

Growth hand in hand

Community development is an important catalyst for business growth. Businesses will succeed only when they operate in vibrant and

thriving societies.

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