Nexus between Corporate Social Responsibility and Firm's Performance
A Comparative Analysis in the Context of India's Manufacturing and Service Sectors
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In grappling with significant societal challenges such as poverty, inequality, population growth, environmental degradation, and illiteracy, Indian businesses play a crucial role. Fostering a genuine partnership between business and society requires transparency in declaring Corporate Social Responsibility (CSR) activities by Indian companies. While financial performance remains the primary concern for profit-based organizations, they are integral components of society, impacting various societal groups. The success of these organizations hinges on their relationship with society, as they both...
In grappling with significant societal challenges such as poverty, inequality, population growth, environmental degradation, and illiteracy, Indian businesses play a crucial role. Fostering a genuine partnership between business and society requires transparency in declaring Corporate Social Responsibility (CSR) activities by Indian companies. While financial performance remains the primary concern for profit-based organizations, they are integral components of society, impacting various societal groups. The success of these organizations hinges on their relationship with society, as they both contribute to and draw resources from it. Ethical organizational processes involve taking responsibility for the environmental and societal impact of actions on customers, employees, shareholders, suppliers, communities, and other stakeholders. Implementing CSR practices with well-defined projects can shift CSR from a charitable endeavor to a sustainable, long-term approach.
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