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Corporate social responsibility as a social license

Author Affiliations

  • 1KLESís J.G. College of Commerce, Hubballi, India

Res. J. Management Sci., Volume 6, Issue (7), Pages 1-4, June,6 (2017)

Abstract

Corporate Social Responsibility is corporates sense of commitment towards social and physical environments in which it works, for sustainable development. Corporates are no more judged on their financial parameters alone. Corporates lies as a part of society; thus it becomes corporateís responsibility to look after the society. Benefits of Corporate Social Responsibility activities to a corporate firm can be difficult to quantify and it has become dominant in business reporting. Corporate Social Responsibility is gaining more and more attraction towards academics (Research) as well as in the business actions. India is the first economy across the globe to lay Corporate Social Responsibility in to law for certain companies who fulfill the criteria of the law (Sec 135 of Indian Companies Act 2013). The paper talks about linear growth of CSR concepts and background for companies to implement need-based CSR activities. The Triple Bottom Line Policies which are directly proportional to CSR activities directs corporates towards social license. The firms under study are across six Industries.

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