CORPORATE SOCIAL RESPONSIBILITY AND COLLABORATIVE GROWTH OF THE NATION

Corporate and social responsibility is a sense of responsibility towards the community and environment in which it function.

- Vishvajeet Kumar

The aim of CSR is to increase long term value and shareholders trust through public relations and reduce business and legal risk.CSR strategy of a company makes positive impact on the environment and all stakeholders like consumers, employees, investors, society and others. CSR activity in different part of the world is defined in different way such as, in China a socially responsible company makes safe high quality products, in Germans it means secure employment, in South Africa it is contribution towards social needs and in India it means company contribution towards the society and environment. Corporate social responsibility is a very old concept in India.

Earlier, a concept where companies voluntarily contribute for a better society, environment, culture etc.now comes under CSR. It is a contribution of the company to the society by their business and social activity. Contribution given by the company for the development of the society helps the company for the sustainable development of the business as well as society.

Company social responsibility depends on various factors such as market, area of operation, business activity, socio economic environment of the area etc. Since CSR issues have been gaining in prominence across countries, India also introduced a law which made CSR mandatory for large and profitable companies.

Regulatory guidelines: