Moving the world together-corporates’ promise towords corporate responsibility

Corporate Social Responsibility (CSR) is a concept whereby firms integrate social, environmental and health considerations in their business policy and operations and in their interactions with stakeholders on a voluntary basis. The social responsibility of business encompasses the economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time (Carroll, 1979). As the world is shrinking due to economic process the concept of Corporate Social Responsibility (CSR) has non inheritable an undeniably high degree of relevance and scope during a sizeable sectors. Several academicians and practitioners are developing theory and practices of this idea of social responsibility among entrepreneurs. The Indian Companies Act, 1956 has been replaced by The Indian Companies Act, 2013, that places high degree obligation on the part of all companies, whether Indian or foreign companies, to concentrate additionally on CSR. This paper highlights the concept of CSR as obligation on the part of companies to its varied stakeholders and examples of various Indian companies following CSR practice.