Corporate Social Responsibility in India-An ethical way beyond profit making

In recent years, the concept of corporate social responsibility has gained prominence from all avenues. Organizations must realize that government alone will not be able to succeed in its endeavor to uplift the downtrodden society. The present social marketing concept of companies is constantly evolving and has given rise in new concept Corporate Social Responsibility. The vision behind this move is that a Corporation must not only achieve its economic goal but also adopt the principles of corporate social responsibility.

This paper shall discuss the evolution of the concept of Corporate Social Responsibility and how important this is for economy and society. This paper argues that notwithstanding the potential economic costs that may accompany mandated CSR, the provision of the Act are designated thoughtfully to balance the objectives of the corporation and its stakeholders on the one hand and that of the society and its stakeholder on the other. This paper will throw light on the top ten organizations were already involved in successful endeavors for social benefits and spent at par or more than as per guidelines issued by Govt. The problems and issues involved in the Rules issued by the Government would be discussed in detail and the paper would offer suggestions as to how these inadequacies.