Why Should the Corporate Sector Embrace CSR?

Abstract

CSR has been in vogue for many years now and, in India, in recent years the government has brought in changes to the company law to enforce spending on CSR. Is this something desirable, and will it drive the actions that are sought to be undertaken? What are the ramifications of the CSR movement and how can companies participate? More fundamentally why should companies care for CSR? What could be the underlying deep rooted connection between CSR and business that makes this movement a natural fit in well run, sustainable businesses? Some historical perspectives are brought into focus to enable the corporate sector to take CSR to heart, understand its power to generate sustainability and goodwill in the stakeholder forums and, finally, make CSR an integrated part of day to day work. Some examples from Indian companies are also cited to reinforce the concepts.