Corporate governance and corporate social responsibility – its evolution and importance in present scenario

Corporate Governance (CG) and Corporate Social Responsibility (CSR) are the two terms, used extensively not only in the corporate world but also in academic circle. With the passage of the Companies Act 2013, the importance of implementing CG & CSR has increased manifolds. Where CG talks about fairness, integrity, and accountability in the affairs of the business; CSR deals with, how companies interact with their stakeholders from providing quality products to undertaking responsibilities towards the environment and the society. This article explores the journey of CG and CSR from the beginning of the 19th century to the present day in a comprehensive way with special reference to the guidelines of The Companies Act, 2013.