What is corporate social responsibility?

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Corporate Social Responsibility is a concept introduced by many big players in the business world. In the earlier days of the corporations, people use to get affected by the actions of the corporations a lot. These problems not only involved breaking of the law but other issues which directly affected the communities surrounding the bigger corporations.

People around the world started complaining about the careless nature of the bigger companies which were directly affecting their lives. This issue took an ugly turn and resulted into creation of a new department in bigger organizations, known as the CSR department. Corporate Social Responsibility department mainly deals with all the social issues which affect the society at large. Now, CSR plays a major role in development process and are more committed to the social issues.

Thus with the evolving society the CSR corporate social responsibility have a great deal of work to do. It is the duty of every business house to get associated with some social cause and make a real difference. The government and the business organizations should work hand in hand in the development process.  In the coming years corporate social responsibility has an important role to play in restructuring the social fabric of the society. Now let us have a look at the situation of Corporate Social Responsibility in India.

Corporate Social Responsibility in India

India is one of the fastest growing economies in the world. It is growing at the rate of 9 per cent p.a. India is the next hotspot for the investors and thus the need arises to look at India from an international perspective. At the stage when India is taking leap in the global market and carving a global position, it is essential to gauge whether the economic growth is due to successful business operations. Organizations must come to terms that government alone will not be able to get success in its efforts to uplift the downtrodden of society.

The present social marketing concepts are changing constantly and have given rise to new phenomena – Corporate Social Responsibility. Many of the leading corporations around the world have realized the importance of being part of a social cause as a means to promote their brands. Cause related marketing and corporate social responsibility has opened up new avenue for companies to compete in the market.

This could turn out to be a strategic marketing activity for the company. It can result into sales promotion, corporate sponsorships, corporate philanthropy, corporate Samaritan acts and public relations.  Now, it is assumed to be responsibility of the business houses too.

CSR will help in to build loyalty among consumers as it is associated with a worthy cause. Many people will not shy away to do business with a company that stands for something beyond profits. To cut the long story short- CSR and cause related marketing will amount to increased sales, visibility, and consumer loyalty and most importantly enhance the image of company with positive media coverage.

There is a vast scope for corporate social responsibility in India as is densely populated and most importantly have different social issues to address. The time has come when the governments of India and Corporate houses come together and resolve the pressing social issues in India.

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Sandra has 22 articles online and 1 fans
Christina is a PR consultant and she also likes writing, reading, movies, hiking.

 

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This article was published on 2012/04/27