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Corporate social responsibility: principals and practices in India

Author Affiliations

  • 1Department of Management, Bhilai Institute of Technology, Durg, Chhattishgarh, India
  • 2Department of Sociology, Sambalpur University, Burla, Sambalpur, Odisha, India

Int. Res. J. Social Sci., Volume 6, Issue (1), Pages 42-46, January,14 (2017)

Abstract

Corporate Social Responsibility (CSR) is the growing commitment of the organizations to operate responsibly. The three aspects of responsibility are economic, social and environmental concern. In deciding the CSR policy of the organization stakeholders play a very important role. There is a very popular saying that customer is the king. Now corporations are paying attention to their important stakeholders which otherwise will be very costly for them. From Nike to Nestle, companies who have ignored their stakeholders had paid heavily. Due to growing awareness of the stakeholders of their rights and business obligations, a changing equation is taking place between the society and the corporations. Using the stakeholder perspective the paper tries to analyze the concept of CSR. The paper is a conceptual paper based on the past literature on CSR. The present study has highlighted the historical evolution of the concept, the drivers and principles of CSR, perceived benefits offered by it.

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