CORPORATE SOCIAL RESPONSIBILITY ROLE ON SOCIATAL DEVELOPMENT

Abstract

India is one of the fastest growing economies but there existing socio-economic problems like poverty, illiteracy, lack of healthcare etc. are still ever-present and the government has limited resources to handle these challenges. This situation has opened up several areas for businesses to contribute towards social development. CSR in India has gone beyond merely charity and donations, and has been approached in a more organized fashion. It has become an integral part of the corporate strategy. Companies have CSR teams that formulate specific policies, strategies and goals for their CSR programs and set aside budgets to support them. Many factors and influences have led to increasing attention being devoted to the role of companies and CSR. This includes CSR is an entry point for understanding sustainable development issues and responding to them in a firm's business strategy.