Strategic reference to the CSR Management with special

Abstract – The Darwin theory is applicable in all the businesses i.e. ‘Survival of the fittest ‘‘In today’s scenario a lot of new areas are being worked by the corporate to survive successfully in the market The one of them is corporate social responsibility. Corporate Social Responsibility is not only that activity in which the firms want to engage themselves but the main issue is how to achieve the maximum benefit from the Society. Many corporate now days engage themselves in the social audit. This paper is an attempt to find out the different type of social responsibility being practiced by different companies in today’s competitive environment .The second objective is to identify the Corporate Social Responsibility in the era of globalization In this era the growing need of the corporate downsizing, cost cutting, rightsizing then how and why firms are having excessive investment in the CSR activity..

The third objective of this paper is to identify that how CSR and profitability of the firm is correlated .the profit is ultimate aim of the business by investing in the CSR the firms are reducing there profit margin but why they are considering this as a profitable and responsible work. The fourth Objective of this paper is to identify the success principles for the companies.In the present scenario the growing complexity of the business and the global competition has made a challenge for the companies to implement the CSR initiative.

Key words-CSR, Globalization, CSR Initiative, Downsizing, Right sizing Introduction –The competition in the present scenario made people to think about the different stragies which will help them to work in a successful manner.As per Keith Devis "social responsibility refers to the two type of the business obligations 1. The socio economic Obligation 2. Socio human obligation As per the Adolphe Berle "Social Responsibility is the mangers responsiveness to public consensus " Now the question is what is strategy? According to the porter" Every Firm competing in an industry has a competitive strategy, whether explicit or implicit. The strategy may have been developed explicitly through a planning process or it may have evolved through a planning process or it may have evolved through the activities of the various functional department of the firm." Corporate Social Responsibility came in the fore front due to change in the present scenario i.e. New Economy, a knowledge-based, technology-driven environment. The CSR has two dimensions one is internal and other is external. The internal dimension deals with the employee son certain issues for e.g. human capital, health and safety, and managing change,

Type of social Responsibility













The above four mentioned are the different type of the social responsibilities

1. Economic Responsibilities –it is one of the basic responsibilities of the Corporate. The goods and services should be available at the cheaper cost in the society.

2. Legal responsibility –the firm has to follow the rules and regulations set by the government. All the production should be under specified laws.

3. Ethical Responsibility-Firm is expected to behave in a ethical manner in the not only in the society but also in the internal environment of the business.

4. Discretionary Responsibilities –It is that type of responsibilities which firm takes voluntarily .Such as Public relations, good citizenship, Full corporate Social Responsibility.

Corporate Social Responsibility in the era of globalization-There is two types of the Stake holders one is internal and other is external. The firm has a responsibility towards each of them .but the nature of responsibility differ in the terms of internal stake holder and it varies with external stake holder. There are some primary expectations of the share holders and few are secondary.

The firm could only get success if it has a good relationship with all the stake holders

CSR and profitability-corporate social responsibility and profitability is adversely related which is misconception .with the help of CSR the firm could earn the profit in the long run. And infect it is the responsibility of the firm to incorporate the benefits of all the stake holders as well as the society.

The impact of CSR on business is as follows in the longer run–

1. Improve image of the company in the society

2. Positive Publicity

3. Profits

4. Ability to raise the money from the market

5. Improved productivity

6. as a responsible part of the society

7. Social Benefit

CSR in global world has bee misunderstood with philanthropy or charity. The reason behind the charitable CSR is as follows

1. Scarcity of the resources

2. Brand Building

4. Publicity

5. Short term gain

6. Other –Strategic benefit

Suggestions for Successful CSR

1. Involve the commitment of the employee for the CSR- The commitment of the employees could only be generated when top management is committed towards the CSR

2. Training for CSR – The employees could be given a kind of training programme to implement ht successful CSR

3. Improve the acceptability of the Corporate in the society- The acceptability and approachability of the companies to society should be increased to implement the successful CSR Practices

4. The concept of welfare state could not get success without the support of the Private companies- the India is following the mixed economy and the state is the welfare state. So it requires the support from the private companies too.

Conclusion -The present economy, Growing competition, Globalization and many more reasons forced the company to follow the CSR and business ethics which could not get success if it has not been implemented from the spirit of it.

In today’s scenario it has been misunderstood with charity and philanthropy which is not its real spirit. That’s why few companies are successfully implementing the CSR few are not able to implement Apart from this in the welfare state all the agencies that have the major stake in the economy also has a responsibility to fulfill the societal responsibility with real spirit.

This article has been written by Chitra Bajpai. She is an Asst. Professor at Accurate Institute of Management and Technology which is one of the best PGDM College in Greater Noida.