Corporate social Responsibility: Inventiveness by various enterprises

Corporate Social Responsibility in simple term means, “Giving back to the society from where an organization operates its functions, employ resources and satisfy human wants by offering goods and services. But in the recent times we have an amendment in the Companies Act 2013. The purview for practicing CSR has undergone a change it has not only helped the society but also is seen from the different perspective and has helped companies in building their brand image, gaining acceptance and thus helping them earn higher amount of profits. The objective of the research paper is to begin with defining and understanding the meaning of corporate social responsibility, understanding its significance in today's rapid changing business environment and then examining the corporate social responsibility initiatives taken by the four companies (HUL, Hero Motorcorp, HPCL and Tata Steel Limited) from the various sectors in accordance to the contribution made by these sectors towards CSR in the previous years. The findings of the paper confirm the various activities done (as per Sec-135(Schedule, VII) of CSR activities) and also analyses the financial spending for the financial year 2014–2015 for the various projects and the amount actually spent.