Corporate Social Responsibility (CSR) recompenses
several direct and indirect benefits to the business. The most important
advantage of CSR is to provide a business organization with an improved social
image. Shifting the accountability of
serving to one another does not serve the purpose at all. Simply putting
the mask of corporate social responsibility does not make an organization socially accountable rather the organization is
literally warranted to interweave the philosophy of CSR into its mission to be
socially answerable. Social responsibility includes the areas such as health,
education, employment, poverty alleviation and quality of life. CSR must be
made obligatory on the part of the corporate sector operating in the country.
It is a matter of great contentment that the Government of India is in the
process of taking certain statutory steps to pursue the corporate sector to
have a proactive approach towards corporate social responsibility/community
development. This paper contributes towards the societal development of
CSR through four dimensions namely corporate social responsibility and its
implementation, corporate social responsibility and sustainability, corporate
social responsibility towards Goodwill, corporate social responsibility and
Social Justice.
References
[1]
Capaldi, N. (2016). New (Other?) Directions in Corporate Social Responsibility. International Journal of Corporate Social Responsibility, 1, Article No. 4.
https://doi.org/10.1186/s40991-016-0005-5
[2]
Carroll, A. B. (2008). A History of Corporate Social Responsibility: Concepts and Practices. In A. M. A. Crane, D. Matten, J. Moon, & D. Siegel (Eds.), The Oxford Handbook of Corporate Social Responsibility (pp. 19-46). New York: Oxford University Press.
https://doi.org/10.1093/oxfordhb/9780199211593.003.0002
[3]
Deborah, J. W., & Lois, A. M. (2005). The Effects of Corporate Social Responsibility and Price on Consumer Responses. Journal of Consumer Affairs, 39, 121-147.
https://doi.org/10.1111/j.1745-6606.2005.00006.x
[4]
Du, S., Bhattacharya, C. B., & Sen, S. (2017). Maximizing Business Returns to Corporate Social Responsibility (CSR): The Role of CSR Communication. International Journal of Management Reviews, 12, 8-19. https://doi.org/10.1111/j.1468-2370.2009.00276.x
[5]
George, G., Dahlander, L., Graffin, S., & Sim, S. (2016). Reputation and Status: Expanding the Role of Social Evaluation in Management Research. Academy of Management Journal, 59, 1-13. https://doi.org/10.5465/amj.2016.4001
[6]
Karen, L., Becker-Olsena, B., Andrew, C., & Ronald, P. H. (2006). The Impact of Perceived Corporate Social Responsibility on Consumer Behavior. Journal of Business Research, 59, 46-53. https://doi.org/10.1016/j.jbusres.2005.01.001
[7]
Lourenco (2013). Corporate Social Responsibility in International Marketing: Review, Assessment, and Future Research. International Marketing Review, 33, 580-624.
[8]
Nyuur, R. B., Ofori, D. F., & Debrah, Y. (2014). Corporate Social Responsibility in Sub-Saharan Africa: Hindering and Supporting Factors. African Journal of Economic and Management Studies, 5, 93-113. https://doi.org/10.1108/AJEMS-01-2012-0002
[9]
Post, E., & Lee, E. (2002). Redefining the Corporation: Stakeholder Management and Organizational Wealth. Redwood City: Stanford University Press.
[10]
Ruzevicius, J., & Serafinas, D. (2007). The Development of Socially Responsible Business in Lithuania. Engineering Economics, 1, 36-43.
[11]
Taghian, M., D’Souza, C., & Polonsky, M. (2015). A Stakeholder Approach to Corporate Social Responsibility, Reputation and Business Performance. Social Responsibility Journal, 11, 340-363. https://doi.org/10.1108/SRJ-06-2012-0068
