A Study of Corporate Social Responsibility in Indian Organization: An Introspection

In India Corporate Social Responsibility (CSR) plays vital role in organizations. In Indian industry a paradigm may be noticed in Indian Industry from corporate philanthropist to being socially responsible. The importance of CSR has increased in Indian corporate sectors because organizations have realized that ultimate goal is not profit making besides this trust building is viable and assert able with societal relationship. The compulsion of CSR has emerged in last two decades as the result of Indian organization is realization of the importance of sustaining in this cutthroat competition era. Before these Indian industries had materialistic culture. LPG (Liberalization, Privatization and Globalization) companies’ focus was toward profit maximization which has led social backwash. In order to overcome this fashion CSR has played a vital role in sustainable development which is only possible due to a balance between profit and lowering social backwash or eliminating it. With the passage of the Companies Act, 2013 the mandate for corporate social responsibility (CSR) has been formally introduced to the dashboard of the Boards of Indian companies. The industry has answered positively to the reform measure which is undertaken by the government with a great interest on the public and private sector, Indian and multinational companies. The practice of CSR is not a new in Indian companies. The aim of this act is bring more companies into the fold. Moreover it is likely that the total CSR spends will be increased. Many companies have understand that if this increased spending is to achieve results on the ground – which is the intent of the Act – then it requires to be done strategically, systematically and thoughtfully. The CII being the leading industry body, through this paper, envisages equipping companies for this shift of structured engagement with communities. The aim of this study is to show the companies that are veteran CSR practitioners as well as those that are just entering the fray. It has introduced the steps to develop a CSR strategy and Policy and has identified the key building blocks for initiating and developing the CSR programs. It walks the CSR practitioner through some of the key choices which may be mandatory to be made while pursuing CSR objectives and develops an organisation which is socially sensitive and responsible. Building a society which provides equal access to opportunities negates disparities and, is a collective responsibility. This Act presents a unique opportunity to stand up to the challenge. It is a call for action. And this handbook is a significant step in that direction.