Corporate Social Responsibility in Emerging Economies: A Study With Special Reference to India

Corporate Social Responsibility in Emerging Economies: A Study With Special Reference to India

Ayesha Khatun (Mittal School of Business, Lovely Professional University, India) and Sajad Nabi Dar (School of Humanities, Lovely Professional University, India)
DOI: 10.4018/978-1-7998-2193-9.ch013

Abstract

India, a developing and the second largest populated country in the world after China, is characterized by many burning issues like unemployment, low literacy, lack of modern medical facilities mainly in rural areas, lack of connectivity of the rural areas with the mainland cities, and the like. Although government has been working on all these issues and has been very much successful, it is not possible for the government alone to solve all the issues in such a vast populated country in a desired period of time. Amidst such situation, it is the corporate sector that can play a bigger role in the development of the society through its CSR initiatives. This chapter attempts to study corporate social responsibility, its role and issues in a developing country with special reference to India. The findings show that lack of understanding, inadequately trained personnel, lack of proper policy making, lack of participation of the local people, and so on affects the reach and effectiveness of CSR programs in India.
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Corporate Social Responsibility

Business depends on society for the needed inputs like money, men, and skills. Business also depends on society for a market where products may be sold. Thus, business depends on society for existence, sustenance, and encouragement. Being so much dependent, companies has definite responsibility towards society (Bhatia, 2006). Today, CSR reiterates the notion that the development is not the exclusive responsibility of the government. Business too has a legitimate and responsible role to play, with safety, health and environment protection high on its corporate agenda (Priya & Ajoy, 2013).

Key Terms in this Chapter

CSR: A continuing commitment of the corporations to contribute to the socio-economic development, while developing the quality of life of the workforce and their families as well as the local community and the society at large.

Emerging Economy: Economy which is on a progression towards becoming an advanced economy. It provides opportunities for foreign investments and enjoys a low to mid-level per capita income.

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