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Corporate Social Responsibility

Author: 
Pratibha J. Mishra
Subject Area: 
Social Sciences and Humanities
Abstract: 

Over the past decades a growing number of companies, globally have recognized the business benefits of Corporate Social Responsibility (CSR) policies and practices. Their experiences are bolstered by a growing body of empirical studies, which demonstrate that CSR has a positive impact on business economic performance, and is not harmful to shareholder value. Companies also have been encouraged to adopt or expand CSR efforts as the result of pressures from customers, suppliers, employees, communities, investors, activist organizations and other stakeholders. As a result, CSR has grown dramatically in recent years, with companies of all sizes and sectors developing innovative strategies. The term Corporate Social Responsibility (CSR) is not new in the Indian context too. A Few companies have incorporated it in their core values; a lot of them practice it in some form or the other. All the leading industrial associations have included it in their agendas. A survey of about 600 companies in India commissioned by Partners in Change and published in the year 2000 has revealed that more than 85% of the industries surveyed agreed that companies must be socially responsible.

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