Introduction
In the 21st century, amidst the increasing prosperity and wealth of nations, the question of the great divide is the biggest concern for countries all over the world. The increasing gap between the rich and the poor is giving sleepless nights to many governments world over. Even though the governments of most of the nations of the world are trying their level best to overcome the issues of poverty, unemployment, malnourishment, low standard of living etc. in their countries, the question is, are they successful?
Judging from the present scenario it is obvious that the governments have met with limited success. Hence, there is a great need for the corporate world to step in and lend a helping hand in the effort.
Corporate Social Responsibility (CSR) is the name given to the help given by the businesses to the governments in making this world a better place. The companies can do their share of good by first starting with ethical corporate governance. Then they can step up to launch various community service drives or camps for empowering the society.
CSR in India is in a very nascent stage. It is still one of the least understood initiatives in the Indian development sector. It is followed by a handful of public companies as dictated by the very basis of their existence, and by a few private companies, with international shareholding as this is the practice followed by them in their respective foreign country.
A lack of understanding, inadequately trained personnel, non availability of authentic data and specific information on the kinds of CSR activities, coverage, policy etc. further adds to the reach and effectiveness of CSR programmes. But the situation is changing. And CSR is coming out of the purview of doing social good and is fast becoming a business necessity. The business case for CSR is gaining ground and corporate houses are realising