Four Dimensions Of Corporate Social Responsibility
INTRODUCTION
The need for established social responsibilities and ethical frameworks in business has become a main priority in our current society. This attitude is supported by the fact that the number of the most well-known global corporations integrating corporate social responsibility (CSR) programs into their business operations has never been greater. The prominence of CSR initiatives today hint that executives’ perceptions of such policies have shifted from an unnecessary addition to a critical business function.
India is the first country in the world to mandate Corporate Social Responsibility (CSR) spending, through a statutory provision under the Companies Law 2013 and expects an annual spending of around INR 30,000 Cr by India Inc.
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Carroll (1991) classifies CSR into four dimensions which make up the four layers of a CSR pyramid. This study adopts the four dimensions developed by Carroll, namely economic responsibility, legal responsibility, ethical responsibility, and philanthropic responsibility, and uses them to measure the consumers’ perception of CSR.
CSR in Indian Context
India is the first country in the world to mandate Corporate Social Responsibility (CSR) spending, through a statutory provision under the Companies Law 2013 and expects an annual spending of around INR 30,000 Cr by India Inc. This will ensure a gradual shift from the traditional charity model to a more strategic CSR model that fits in with the long term objectives of the company. Still the practice or disclosures of CSR initiatives are very few among the companies operated in India.
The problem with corporate social responsibility (CSR) is that nobody is very clear about what exactly it encompasses. The Indian government has been trying to make it mandatory for companies to spend at least 2% of net profits on
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For decades now, since Independence, corporate majors such as the Tata and Birla group companies have led the way in making corporate social responsibility an intrinsic part of their business plans. These companies have been intensely involved with social development initiatives in the communities surrounding their facilities. Jamshedpur, one of the prominent cities in the north eastern state of Bihar in India is also known as Tata Nagar and stands out at a beacon for other companies to
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