Corporate social responsibility (CSR) (Study of practicesof leading corporate houses)

Corporate Social Responsibility refers to ensuring the success of the business by inclusion of social and environmental considerations into a company's operations. It means satisfying your shareholders’ and customers’ demands while also managing the expectation of other stakeholders such as employeessuppliers and the community at large. It also means contributing positively to society and managing your organization's environmental impact. Hence, CSR is a contribution to sustainable development, implying the way a company balances its economic, environmental and social objectives while addressing stakeholder expectations and enhancing shareholder value. The CSR concept-was initially used by national companies more as a marketing and media coverage instrument, rather than for its ethical values. As time went by, it became clear that-the business environment is a key element in finding solutions to community issues. This research paper-aims at analyzing the importance of Corporate Social Responsibility (CSR) from a company's perspective and the impact of the different successful CSR practices followed by corporate leaders to increase their competitive advantage. The scope of the report is limited to CSR practices of companies towards the community. It is a comparative study about the practices adopted by companies in view with the changing times. Many companies of different sectors have been studied. The paper also gives details as to when and to what extent a company is to consider CSR practices.