Title: Challenges and Opportunities of Corporate Sector (CSR) in Rural India
Abstract: Today Businesses are an integral part of the society in rural India. The Corporations are also social institutions. The role of business, according to this model, is to create value for its shareholders and also creates value for society, manifesting itself as a win-win proposition. Corporate success during these days is highly based on continued good relations with a wide range of individuals, groups and institutions in rural areas. Corporate Social Responsibility plays vital role in winning the rural customer's confidence that will help growing the business. Many organizations actively conduct campaigns to create awareness among corporate, civic bodies, and government bodies about the importance of corporate social responsibility towards rural society. The term corporate responsibility has been captioned under many names including corporate citizenship, social responsibility. Rural Society began to expect business to voluntarily participate in solving societal problems whether they had caused those problems or not. Report on Business Magazine recently noted that many business leaders now believe that doing well for others means doing well for shareholders as well in rural areas because growth of rural areas increasing. Corporate social responsibility is a process in which all companies come together as one and take part in the welfare of the rural society. It is often referred to as business responsibility and an organization's action on environmental, ethical, social and economic issues. New legal mandates were imposed to ensure equal employment opportunities, product safety, worker safety, and environmental protection. Companies with high CSR standards are able to demonstrate their responsibilities to the stock holders, employees, customers, and the general public. Corporate Social Responsibility leads to triple bottom-line: profits, protection of environment and fight for social justice. Economist and philosopher suggested that the needs and desires of society could best be met by the free interaction of individuals and organizations in the rural marketplace. A recent survey reveals that 45 percent of rural consumer prefers to buy products of companies that actively engage in corporate social responsibility events. In this connection Indian business world should go beyond their economic and legal obligations to establish mutual trust and accept responsibilities related to the betterment of society. The papers discuss the opportunities and challenges of corporate social responsibility in rural India.
Publication Year: 2016
Publication Date: 2016-01-01
Language: en
Type: article
Access and Citation
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot