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Shri Ram Centre for Industrial Relations and Human Resources is collaborating with JSTOR to
digitize, preserve and extend access to Indian Journal of Industrial Relations
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Invited Article
396 The Indian Journal of Industrial Relations, Vol. 44, No. 3, Jan. 2009
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CSR- A Business Opportunity
and technology. There are CSR ability. Governments, activists, and the
consultancies and think tanks in most
media have become adept at holding
developed and developing countries companies accountable for the conse
around the world. Social (e.g. 9-11, HIV quences of their actions.
Aids), environmental (e.g. climate
change) and economic (e.g. Enron) Caring for employees, communities
shocks are eievating issues to the and environment is not only seen as
international arena.
morally correct, but also the best
approach for continuity and profit
Companies which aspire to be, or ability.
are, leaders in corporate social
responsibility are challenged by rising
public expectations, increasing inno CSR is generally understood to be
vation, continuous quality improvement the way a company achieves a balance
and heightened social and environmental or integration of economic, environ
problems. They are forced to chart their mental and social imperatives while at
CSR course within a very complex and the same time addressing shareholder
dynamic environment. and stakeholder expectations. It is about
meeting the current needs and ensuring
In India, CSR has been seen as the future generation's needs are not
philanthropy, charity, social-giving in compromised upon. Good CSR goes a
the past. Most business families have step further, increased belongingness in
been taking up topics of their respective employees, enhanced skills and better
interests and investing in them. With motivation brings better productivity,
globalization, the demands are changing lower rate of attrition, fair practices in
the definitions, it is not only about how supply chain will add to transparency in
you spend the money but customers are the organization, public image, effi
also demanding information on all the ciency and effectiveness. Responsibility
business processes in how the company towards the environment and community
makes money and treats it various will improve the conditions around work
stakeholders. space in many dimensions.
The Indian journal of Industrial Relations, Vol. 44, No. 3, Jan. 2009 397
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Sanjeev Gupta & Nidhi Sharma
398 The Indian Journal of Industrial Relations, Vol. 44, No. 3, Jan. 2009
This content downloaded from 84.54.97.56 on Sat, 28 Jan 2017 15:31:18 UTC
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CSR- A Business Opportunity
The Indian Journal of Industrial Relations, Vol. 44, No. 3, Jan. 2009 399
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Sanjeev Gupta & Nidhi Sharma
400 The Indian Journal of Industrial Relations, Vol. 44, No. 3, Jan. 2009
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CSR- A Business Opportunity
The Indian Journal of Industrial Relations, Vol. 44, No. 3, Jan. 2009 401
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