Recent Developments on Corporate Social Responsibility

Abstract

The corporate social responsibility is less importance under corporate sector, but this concept been added in our Indian culture heritage. Our Vedic science Vedas Puranas, Upanishads also forced quality and social responsibility of each person in this world about social distribution of wealth, animal welfare, plant life, non-pollution and poor feeding and environment.2 Hence the concept of corporate social responsibility in India can be recognized at the time of ancient time like philosophers of Kautilya from India preached and promoted ethical principles while doing business. The Indian businesses always embed with religion and charity it’s like single coin two faces. 3 The object of this paper is to discuss the Corporate Social Responsibilities and its issues challenges in India and highlight CSR regulations and human rights abuses caused by the business organizations. Since from ancient times the development of corporate social responsibilities emphasized local needs such as a hospitals, housing, and roads, big business sectors have given the importance of corporate social responsibilities because of violations of human rights. In the past few years, many number of business state holders or owners and leaders their responsibility is not only maximize the profits of company and owners but with that social charity works like do what the community people, planet, and society at large. The corporate social responsibilities capture business responsibility to society, and also it must be done with sustainability, because of the business and society have lot of issues with environment and management. CSR is closely linked to sustainability that is creating economic, social, and environmental values. The objective of this paper is to find out the pitfalls especially at the time of implementation of CSR activities for the protection of social, economic, and environmental issues.