Whether as an individual, a group or as an Organisation – you cannot ignore your surrounding environment. In fact, you are inseparable from your society and your environment. Closed Systems (system that does not interact with its external environment) rarely exist in real world.
CSR (Corporate Social Responsibility) – the actual meaning of this concept is how companies and industries manage their business processes by doing activities that produce a great impact on society and employees as well. It was incepted in the year of 1953 by a debate over the role of managers of Mr. A.A Berle and E. Merrick Dodd.
Through CSR, a company or an industry can accomplish a balance of “Triple bottom line approach”- environmental, economic and social requirements. Another important aspect of this management concept is they can discourse the outlooks of stakeholders and shareholders. The concept of CSR is mainly in for some major issues – environmental management, responsible sourcing, employees and community relations, stakeholder engagement, anti-corruption measures, good governance, human rights and social equity.
The company’s voluntary activities help to improve the social and economic conditions. The social responsibility is a liability in which individuals have to perform in such a way so that they can maintain a balance between the ecosystems and economy. These days the significance of CSR in India increases due to the company’s competitiveness. It brings several good things in terms of customer relationships, cost savings, human resource management, risk management, access to capital, etc.
The corporate and social responsibilities directly enrich the reputation of a company and bounces strength to their brand. The CSR activities help to enhance the reliability and retention of an employee, can achieve the justice and access to the markets.
A detailed up-to-date information on the CSR activities in India can be read on a website – http://www.indiacsr.in