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concern. It positions companies to both proactively manage risks and take advantage of opportunities,
especially with respect to their corporate reputation and the broad engagement of stakeholders. The
latter can include shareholders, employees, customers, communities, suppliers, governments, nongovernmental
organizations, international organizations and others affected by a company’s activities.
Above all, CSR is about sensitivity to context—both societal and environmental—and related
performance. It is about moving beyond declared intentions to effective and observable actions and
measurable societal impacts. Performance reporting is all part of transparent, accountable—and, hence,
credible—corporate behavior. There is considerable potential for problems if stakeholders perceive
that a firm is engaging in a public relations exercise and cannot demonstrate concrete actions that lead
to real social and environmental benefits.
Objectives:
The paper is based on followings objectives:
1) To study the concept of CSR and its legal position in India.
2) To study the challenges for CSR in India.
3) To study the factors influencing of using CSR in India.
4) To study the companies using CSR in India.
Methodology of the Paper:
The study is based on secondary data. Secondary data had been and writings of various authors in the
stream of industry, academician, and research. The Journals and books have been referred were
described in the bibliography.
IMPLEMENTING CORPORATE SOCIAL RESPONSIBILITY
There is no “one-size-fits-all” method for pursuing a corporate social responsibility (CSR) approach.
Each firm has unique characteristics and circumstances that will affect how it views its operational
context and its defining social responsibilities. Each will vary in its awareness of CSR issues and how
much work it has already done towards implementing a CSR approach. That said, there is considerable
value in proceeding with CSR implementation in a systematic way—in harmony with the firm’s
mission, and sensitive to its business culture, environment and risk profile, and operating conditions.
Many firms are already engaged in customer, employee, community and environmental activities that
can be excellent starting points for firm-wide CSR approaches. CSR can be phased in by focusing
carefully on priorities in accordance with resource or time constraints. Alternatively, more
comprehensive and systematic approaches can be pursued when resources and overall priorities permit
or require. The bottom line is that CSR needs to be integrated into the firm’s core decision making,
strategy, management processes and activities, be it incrementally or comprehensively.
LEGAL POSITION RELATING TO CORPORATE SOCIAL RESPONSIBILITY IN INDIA
In India CSR is in a very much budding stage and there is no such specific Act, Rule or Regulation
relating to CSR However, there are voluntary guidelines issued by the Ministry of Corporate Affairs
and guidelines issued by Ministry of Public Enterprises and Ministry of Heavy Industries of the
Government of India.
A. Voluntary Guidelines by Ministry of Corporate Affairs
The Fundamental Principle of guidelines says, “Each business entity should formulate a CSR policy to
guide its strategic planning and provide a roadmap for its CSR initiatives, which should be an integral
part of overall business policy and aligned with its business goals. The policy should be framed with
www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 06, April-2013 Page 103