Financial Express-"More than just charity

Financial Express: "More than just charity
Dr. Ashoke K. Roy
2/8/2006


GONE are the days when Corporate Social Responsibility (CSR) was thought as charitable activities of big corporations only. With improving societal consciousness and increasing business understanding, it is getting importance in the West and expanding to the developing countries. It is now well established that this is more than doing a charity.
Since the later part of last century, CSR has become a crucial issue for the companies to survive in the community. It was started under pressure from right groups, consumers, media and later from the government. But now it is understood that this is a win-win situation for both corporations and communities. The only important aspect is that it is to be managed very carefully with clear objectives and visions. The risk of backfire should also to be taken into account. It is not only an investment. Rather it is doing something more for the company and eventually for the community. "