Corporate Social Responsibility Management In India
In India companies have rapidly introduced innovative and diversified ideas in thefield of social responsibility in recent years. In India, slowly but steadily, the Indiancompanies are moving towards fulfillment of their corporate social responsibility.For each business, different measures are taken in consideration to classify abusiness as "socially responsible". Each business attempts to reach different goals.There are four areas that should be measured regardless of the outcome needed:Economic function, Quality of life, Social investment and Problem solving that istrying to be achieved should be measured to see if it meets with the cost guidelinesthat the business is willing to contribute.
Social responsibility is an ethical or ideological theory that an entity whether it is agovernment, corporation, organization or individual has a responsibility to society atlarge. This responsibility can be "negative", meaning there is exemption from blameor liability, or it can be "positive," meaning there is a responsibility to actbeneficently (proactive stance).Businesses can use ethical decision making to secure their businesses by makingdecisions that allow for government agencies to minimize their involvement with thecorporation. For instance if a company is proactive and follows the United StatesEnvironmental Protection Agency (EPA) guidelines for emissions on dangerouspollutants and even goes an extra step to get involved in the community and addressthose concerns that the public might have; they would be less likely to have the EPAinvestigate them for environmental concerns. "A significant element of currentthinking about privacy, however, stresses "self-regulation" rather than market orgovernment mechanisms for protecting personal information"
. Most rules andregulations are formed due to public outcry, if there is not outcry there often will belimited regulation.
CORPORATE SOCIAL RESPONSIBILITY
Corporate social responsibility is a much misunderstood concept. It contradicts thecorporate objectives of profit motive. But it is difficult to overlook the prime objectiveof the business for the purpose of '
do good activity'
. Today consumer is not onlyready to accept the role of a corporate house only to satisfy their demand to producethe goods according to their requirement. According to
Kotler and Lee
" acommitment to improve community well being through discretionarybusiness practices and contributions of corporate resources."
The world business council on Sustainable Development has defined corporate socialresponsibility as the "
commitment of business to contribute to sustainableeconomic development, working with employees, their families, the localcommunity and society at large to improve their quality of life." It is thebackbone of today's business sustainability.
Kotler cites several benefits of corporate social initiatives on the part of corporate. It includes-1) Increase in sales