Corporate Social Responsibility And Sustainability: Execution Issues

Abstract

Corporate social responsibility approach conducting business in an ethical way and inside the interests of the wider community and responding undoubtedly to rising societal priorities and expectations. In developing economies like India, CSR is visible as part of corporate philanthropy in which companies augment the social improvement to aid the projects of the government. However with time, the scenario of CSR has changed from being philanthropic to being socially responsible to multi stake holders. The change is known as as social duty which is an opportunity for the business. There are several challenges like loss of Community Participation in CSR Activities, Issues of Transparency, Non- availability of Well Organized Non-governmental Organizations, Narrow Perception closer to CSR Initiatives, etc. The Companies Act, 2013 has formulated Section 135, Companies (Corporate Social Responsibility) Rules, 2014 and Schedule VII which prescribes obligatory provisions for Companies to meet their Corporate Social Responsibility. The essence of CSR lays at the investing part of the income beyond business for the bigger precise of the society. Companies can set a community of activities to be taken up in a consortium to tackle primary environmental issues. The studies paper is an attempt of exploratory studies, based totally on the secondary facts sourced from journals, magazines, articles and media reports. Approaches to CSR vary. Some agencies invest in CSR as popularity control or to sustain the profitability of a company, and some spend money on CSR out of a sense of moral responsibility to society. These assets attention on sustainability and CSR by and large in phrases of moral responsibility, and offer perception into ethics concepts relevant to economic sustainability, environmental sustainability, and social equity. The studies paper is an attempt of exploratory research, based at the secondary statistics sourced from journals, magazines, articles and media reports.