Corporate Social Responsibility (CSR) has gradually emerged as one of the key approach for addressing the various aspects of company activities particularly of social and environmental impact. The role of corporations in various activities in society is clearly very high on the agenda. New Companies Act has been introduced in India, which legally mandate the certain classified companies to give at least 2 percent of the net profit to the society as a CSR. Although CSR is a significant milestone in focusing the spotlight on the challenge of changing expectations of society from business[i] but yet companies are increasingly expected to go beyond this. The write up suggests that CSR has some potentials for dealing various issues for the benefit of society but still fails to address three challenges in the business-society relationship i.e. the environment, development and governance.[ii] Some of the important aspects like economic and political issues are yet to be addressed. The write-up also studies the meaning of Corporate Social Responsibility, its origin & evolution and its legal framework in India. It furthers focuses on the central topic of the study-why CSR is not sufficient enough to discharge its obligation towards the society.
[i] Anjali Hazarika, Corporate Social Responsibility and The Oil Industry, (1998)
[ii] Jedrzej George Frynas, Beyond Corporate Social Responsibility, (1st ed. 2009)
