CSR i.e, Corporate Social Responsibility.
Every citizen has his responsibility towards his society where he lives. To improve the living condition, enhance the status of the society, one has to contribute from his side. It may be financially involved responsibility or non-monetary involvement. A person can teach the school subjects free of cost to the children living in and around his area, he can educate about good hygiene, good habits and even he can organise daily games and fitness programme for the benefit of the area where he lives.
In the same way all the corporate companies are having the responsibility to take care of the area where they have placed its establishment.
Eventhough it is involved with cost to the company, the surrounding population will surely get benefitted and in case of any problem, the area public will surely come forward and help to sort out the issue in the company.
Now the Government has made some policy on CSR Activities and instructed all the corporate companies must spend 0.5% to 2% of its profit for CSR Programmes.
From India, Kumbakonam
saiconsultI am not an expert on CSR. From what I read and absorbed during discussions with professionals, I understand that corporates in their race for wealth creation were not till recently conscious of the impact of their business processes or industrial processes on society and the environment They realized or probably made to realize by alert social movements that they are part of a larger organisation called society and share the same environment with the society and thus cannot exist outside the society.Thus in lay man's understanding, CSR refers to the concept to indicate all those efforts and initiatives made by corporates to evaluate the impact of their corporates on society and the community in which they exist and to all those measures to contribute to the welfare of the community and society so that both the citizens and corporates can co-exist peacefully.For example, a fertilizer factory which deals with chemical processes, may pollute environment by some chemical emissions and thus undertakes the responsibility to cleanse the environment by maintaining a green belt(growing plants and trees) in surrounding areas and installing effluent cleaning system in the factory etc.These corporate social responsibility may extend beyond statutory requirements in that some ofices may adopt green architecture to allow maximum use of sun light to reduce energy consumption or launch educational initiatives for the underprivileged etc.
Hope this provides some understanding on CSR.
In-House HR & IR Advisor
From India, Mumbai
pon1965CSR - Corporate Social Responsibility. Means paying back to Society. Pon
From India, Lucknow