CSR
The 21st century is characterized by unprecedented challenges and opportunities,
arising from globalization, the desire for inclusive development and the imperatives of
climate change. Indian business, which is today viewed globally as a responsible
component of the ascendancy of India, is poised now to take on a leadership role in the
challenges of our times. It is recognized the world over that integrating social,
environmental and ethical responsibilities into the governance of businesses ensures their
long term success, competitiveness and sustainability. This approach also reaffirms the
view that businesses are an integral part of society, and have a critical and active role to
play in the sustenance and improvement of healthy ecosystems, in fostering social
inclusiveness and equity, and in upholding the essentials of ethical practices and good
governance. This also makes business sense as companies with effective CSR, have
image of socially responsible companies, achieve sustainable growth in their operations
in the long run and their products and services are preferred by the customers.
Indian entrepreneurs and business enterprises have a long tradition of working
within the values that have defined our nation's character for millennia. India's ancient
wisdom, which is still relevant today, inspires people to work for the larger objective of the
well-being of all stakeholders. These sound and all-encompassing values are even more
relevant in current times, as organizations grapple with the challenges of modern-day
enterprise, the aspirations of stakeholders and of citizens eager to be active participants in
economic growth and development.
The idea of CSR first came up in 1953 when it became an academic topic in
HR Bowen's 'Social Responsibilities of the Business'.
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