CORPORATE SOCIAL RESPONSIBILITY- A STRATEGIC APPROACH

Abstract

CSR in reality is the alignment of business operations with social values. It takes into account the interests of stakeholders in the company’s business policies and actions. It focuses on the social, environmental, and financial success of a company – the so-called “triple bottom line” – with the aim to achieve social development while achieving business success. More importantly, CSR is the point of convergence of various initiatives aimed at ensuring socio-economic development of the community as a whole in a credible and
sustainable manner. Fortunately, with the popularity of CSR, more and more companies now perform in nonfinancial arenas such as human rights, business ethics, environmental policies, community development corporate governance, and workplace related issues etc. Present study, makes an attempt to look into the core issues related with CSR and to see whether it has moved from being a public relations tool or a feel-good factor to a key parameter to keep companies open and transparent.