A Critical Analysis of CSR Funding of Few selected Private and PSU Companies
Journal Title: IJAR-Indian Journal of Applied Research - Year 2015, Vol 5, Issue 5
Abstract
A new era of social consciousness is evolving throughout the world. With the advent of globalization and cut-throat competition, concern of the companies has shifted to Corporate Social Responsibility. “Doing good” seems to be the new slogan for many brands. After a year of economic misery in 2008 and banking crisis, consumers wanted to get associated with the brands that believe in more than a profit. As we enter a high stage of consumerism, enjoying all the fruits of civilization, a fear psychosis is however, lurking in the mind of consumers that humanity as a whole may have to pay a price for this in the form of environmental havoc. So, the consumers now- pre fer to associate with those brands that show concern for the good cause. World Business Council for Sustainabl-e De velopment defines Corporate Social Responsibility as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.” However in pursuance of implementing the CSR goals, business houses have to comply with legal requirements, to look after their own competitive interests and the interests of the society at large. Now the question arises whether CSR is for upliftment of corporate image or is it a part of fulfillment of- con tinuing commitment for sustainable social development. In this back drop, this paper tries to throw light on the actual sprit of CSR funding. We will try to find out the present CSR scenario in India on some selected corporate houses from different sectors, to analyze their CSR initiatives and its impact on social, economic and environmental aspects. We have also tried to show the changing scenario of the PSUs towards the society and have analyzed their way of moving towards attaining competitive sustainable growth in the race with the private sectors taking CSR as a tool.
Authors and Affiliations
Dr Amitava Basu
Keywords
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