What is Corporate Social Responsibility (CSR)?
Corporate Social Responsibility (CSR) is a self-regulating business model that helps companies to be socially accountable to themselves, their stakeholders, and the public. CSR has gained significant consideration in the business world, especially in India, where companies are realizing the importance of giving back to society. By practising it, companies become more conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.
Engaging in CSR implies that a company is operating in ways that enhance society and the environment instead of having a negative impact on it.
Geeky Takeaways:
- CSR is a business model by which companies make a concerted effort to enhance the environment and impact it positively.
- CSR helps to promote a positive brand image for companies.
- CSR programs also help to raise morale in the workplace.
- CSR is often classified into four categories: environmental impact, ethical responsibility, philanthropic endeavours, and financial responsibilities.
Table of Content
- Corporate Social Responsibility: An Overview
- Types of Corporate Social Responsibility
- Benefits of Corporate Social Responsibility
- Legal Framework of CSR in India
- Conclusion
- Frequently Asked Questions (FAQs)
Corporate Social Responsibility(CSR) : Types and Legal Framework
Corporate Social Responsibility (CSR) has gained a considerable amount of significance in the business world, especially in India, where companies are increasingly realizing the importance of giving back to society. Corporate Social Responsibility (CSR) describes how a company contributes to the well-being of communities and society through environmental and social measures.