Corporate Social Responsibility of Business: A Conceptual Study in India | Original Article

ABSTRACT:

Corporate social responsibility (CSR) gained popularity throughout the late 1960s and early 1970s, referring to companies that emphasized a new paradigm in business The paradigm is rooted in the belief that businesses have an obligation to care for their surroundings and by doing so, and will realize greater success .CSR is also described as the corporate "triple bottom line "—the totality of the corporation's financial, social, and environmental performance in performing its business. It generally refers to transparent business practices that are based on ethical values, compliance with legal requirements, and respect for people, communities, and the environment. Thus, beyond making profits, companies are responsible for creating their impact on people. People include the company's stakeholders, its employees, customers, business partners, investors, suppliers and vendors, the government, and the community. Thus this paper will focus on the concept of CSR and how an organization can be benefited with CSR concept.