Corporate Social Responsibility - A Stake Holder's Perspective

Corporate Social Responsibility (CSR) was considered to be a commitment by business towards ethical behaviour, economic development and improvement in the quality of life of its workforce, their families, the local community and the society at large (Moir,2001). Carroll (1979) described four kinds of responsibilities namely economic, legal, ethical and discretionary in his three- dimensional corporate social performance model. Business and society are not separate from each other but inter woven with one another (Wood, 1991). CSR has become an issue of high priority for mangers across the globe. Corporate Social Responsibility (CSR) is gaining momentum not only in developed nations but also in developing nations. In India CSR has evolved over the years and has taken different dimensions during such evolution. Many studies have focussed on CSR initiatives of different organisations world over and evaluation of those initiatives is sparingly done.