In recent years THE BUSINESS STRATEGY FIELD HAS EXPERIENCES THE RENAISSANCE OF Corporate Social Responsibility as a major topic of interest. Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as of the local community and society at large.
Corporate Social Responsibility is viewed as a comprehensive set of policies, practices and programs that are integrated into business organizations whenever the organization does business and includes responsibility for current and past actions as well as future impacts. Effective CSR aims at “achieving commercial success in ways that honour ethical values and respect people, communities and natural environment.” Simply put, it means “what you do, how you do it, and when and what you say.” Several terms have been used interchangeably with CSR.
The problem with CSR is regarding its implementation and will force of the corporate houses. All are trying to do their activities but there is no mentor to monitor. So, the recurring problem till unable to cure. Our government after passing of Companies Amendment Bill 2012 in Lok Sabha the ongoing debate concerning how much Corporate Social Responsibility will work as a responsible tool towards our society. However, when the education is the foundation of every civilization in this regards it should be checked the company’s contribution towards the Indian Education sector.
No doubt in India CSR activities get pendular momentum in last decade but after intensive scrutiny we unearth it has lots of problem area and this lacuna and latches can be dissolved by the willingness of the government as well as the corporate houses. Though Companies Amendment Bill 2012 in its Schedule VII speaks activities which amount to CSR. But in case of multinational companies there must be a specific parameter to decisive the CSR activities. ISO certification should be compulsory for all multinational companies. Our coming statue in its Schedule VII pointed out only 10 points, apart from this lots of social problem in our society. The corporate houses must try to do their CSR activities in the remote areas of the country as in semi urban place will upgrade automatically be the government.
