Corporate Social Responsibility

871 Words4 Pages
“It is government’s job to do CSR activities and corporate should focus their attention on Profit”
Corporate social responsibility (CSR) is a form of corporate self-regulationintegrated into a business model. CSR policy functions as a self-regulatory mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards and national or international norms. With some models, a firm's implementation of CSR goes beyond the compliance and engages in actions that appear to further some social good, beyond the interests of the firm and that which is required by law. CSR aims to embrace responsibility for corporate actions and to encourage a positive impact on the environment and stakeholders including
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CSR is one of such aspect in which neither can the government in any way single handedly take responsibility of the society nor should it. It should be done by both of them. If the companies use the resources available in the society, they should participate in refurbishing and developing them. All the stakeholders should work together to make sure of an inclusive growth. If CSR is used pragmatically and even strategically it could be beneficial to both the company and the society. It also serves to reduce the ever increasing gap between the rich and the poor. The government alone cannot carry out all the activities that are necessary for the betterment of the society at large. The corporates must extend a helping hand to the government for better future. By helping the government, it makes the work easy and messages and things that are to be conveyed are done easily and help by the industries or organization plays a much vital roles in developing the CSR activities. To encourage companies to actively participate in CSR activities there are certain rewards that are granted by the governments as well as international organizations. India is the first country to have corporate social responsibility (CSR ) legislation, making it compulsory for…show more content…
Across the world companies may carry out CSR activities as voluntarily as a medium of building brand image and widen their name. This is a controversial topic. Some companies just do it for the sake of doing it and have no real interest in the betterment of the society. Most corporations see CSR as a branding or marketing exercise but, as they see little 'value' they think that if they give someone a budget to spend on annual basis, then that is enough. Lets take an example of Apple which, even though being a fortune 500 company has not contributed to CSR activities till recently. But we cannot deny that there are a number of other companies that are carrying out CSR activities to make a difference. Companies like Reliance, Birla and Tata have carried out CSR activities even when it was not made mandatory. On the contrary to Apple’s practices, its rival company, Samsung has undertaken a lot of CSR activities that have proved beneficial. As the world today is changing, people are realizing the value of CSR and the shareholders and consumers are giving more importance to companies who play their part efficiently in contributing to CSR activities. CSR cannot be just a lip service as it is mandatory for companies to publish their CSR reports. However, for CSR to have real impact, it should not be seen merely as a cost centre to gain publicity but
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