Societal Progress of Corporate Social Responsibility—An Empirical Slant on Rastriya Ispat Nigam Limited (RINL, Visakhapatnam, India)

Abstract

Corporate Social Responsibility (CSR) recompenses several direct and indirect benefits to the business. The most important advantage of CSR is to provide a business organization with an improved social image. Shifting the account ability of serving to one another does not serve the purpose at a ll. Simply putting the mask of corporate social responsibility does not make an organization s ocially accountable rather the organization is literally warranted to interweave the philosophy of CSR into its mission to be socially answerable. Social responsibility includes the areas such as health, education, employment, poverty alleviation and quality of life. CSR must be made obligatory on the part of the corporate sector operating in the country. It is a matter of great contentment that the Government of India is in the process of taking certain statutory steps to pursue the corporate sector to have a proactive approach towards corporate social responsibility/community development. This paper contribu tes towards the societal development of CSR through four dimensions namely corporate social responsibility and its implementation, corporate social responsibility and sustainability, corporate social responsibility towards Goodwill, corporate social responsibility and Social Justice.