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Though different organisations have framed different definitions for Corporate Social Responsibility (CSR), all of them have a common ground. CSR can be defined as the systematic commitment of a business towards economic development and work towards improving the quality of life of the people working there thus impacting the lives in the society. Basically, CSR is all about business giving back to society.

India has one of the world’s richest traditions of CSR, even before the multi-national companies came into picture. Decades before CSR become a popular cause, the concepts of nation-building and trusteeship have been alive in the operations of long-established industrial dynasties, such as the Birlas and the Tatas. There are other leading Indian companies such as Hero Honda, HLL (Hindustan Lever Ltd.), ITC, and Maruti Udyog, BHEL (Bharat Heavy Electricals Ltd)., HDFC (Housing Development Finance Corporation), NTPC (National Thermal Power Corporation), and ONGC (Oil and Natural Gas Corporation) where, despite the march of privatization, social obligations form an integral part of their business.

India being a fast growing economy is booming with national and multinational firms opening up new opportunities. At the same time, India also faces social challenges like poverty, population growth, corruption and illiteracy just to name a few. Therefore, in order to create and facilitate an environment of equitable partnership between the civil society and business, it is all the more important for the Indian companies to see CSR in the right perspective. IBSCDC has developed several case studies related to Corporate Social Responsibility which can provide an insight into the concept.

CSR taken up by various companies primarily focuses on poverty alleviation, environmental protection and sustained development. Satyam Foundation of Satyam Computer Services Ltd., Infosys Foundation of Infosys Technologies Ltd., and GE Foundation of the General Electric Company are exemplary instances of the philanthropic commitment of the corporate sector in India. Irrespective of the profits they make, these foundations are aiming at uplifting of the poor and enhancing the standard of life in the rural sector. For example, the Emergency Management and Research Institute's (EMRI) emergency ambulance service, called 108 launched by Satyam provides emergency services for people caught in life threatening situations due to accidents or natural calamities in cities as well as rural areas. This initiative has received huge applause from people of the states in India wherever this service has been started. ICFAI has also taken up an initiative of funding an NGO – Alpha foundation to run ICFAI Republic School. Nearly,98% of the funds for the school is provided by ICFAI. Companies are taking initiatives for developing infrastructure in rural areas, e.g., TATA Motors provides desks, benches, chairs, tables cupboards, electrical fittings and educational and sports material to various primary schools in Singur (West Bengal).

While some companies limit their CSR activities to India, other companies operate on a global level. Deloitte allocates one working day termed as ‘Impact Day’, across all its offices in the world to carry out social work. These initiatives include – creating awareness against cyber crime, teaching people about traffic rules; and safety measures, planting trees, working with NGOs to provide education to street children, spending quality time with the elderly in old age homes and children in orphanages and make an impact on the lives of millions of people across the world.
The practice of CSR is subject to much debate and criticism. A common notion is that out of the very few companies who contribute to the social development, the basic intention is not to ensure the good of the nation, but rather a business policy to evade the tax net. How far is it true? While developed countries like England have separate ministries to look after the issue of corporate social responsibility, in India, most of the corporate firms do not have a clear policy on social responsibility. Nowadays, every corporate firm is practicing CSR. In fact, the credibility of companies is determined in a large part by their consciousness of social responsibility. Therefore, the question that arises is whether CSR has become a business strategy to help establish the credibility of the company or is it a responsibility undertaken genuinely? The answer to which can be best provided by the people who are and would be benefited by these activities.

There are many case studies on this topic available in www.ibscdc.org that are a must read. Few of them are –

Who Says there is No Money in CSR?

Tesco’s Corporate Social Responsibility Initiatives

Corporate Social Responsibility – Are the Corporates Alone Responsible?

Colas in India – The Pesticide Residue Controversy, etc.

Asia-Pacific's Largest Repository of Management Case Studies

Article Source: ArticlesBase.com - Corporate Social Responsibility