Business never existed in the vacuum. The relationship between business, society and environment are based either on mutuality or on conflict of interests. There is a much historical evidence to prove that business in the world have been conducted on the basis of conflict of interests and there are innumerable instances where corporations have earned windfall profits even by acting against the interests of society and environment. Individual corporations have benefited at the cost of society and environment.
...Corporations are earning profits out of their relationship with society and environment. It is not possible for the business to earn profits in absolute isolation from the society. Business, society and environment are, thus, completely intertwined. There is perpetual action and reaction between these three and profits are results of this perpetual interaction. Relationship between business, society and environment stands eternally established. Society and environment offers requisite aids; it is, in fact area in which business operates. All purchase, production, distribution and other commercial transaction are done by and for the members of the society on the basis of resources supplied by environment. Therefore, business is so inextricably woven into the very texture of society and environment that it is inalienably from it. It is evident from this discussion that the new Company Act 2013 will turning point in the history of corporate sector. The Indian policy makers first time realised the significance of social and environmental issues in the operations of business. Therefore, it the responsibility of corporate sector to maintain the fine balance among the economic, social and environmental interest as a part of win-win strategy.
The practice of philanthropy and services is very old in Indian civilisation and continued through the ages in spite of social, economic and political changes. The concept of donating a portion of one’s surplus wealth for the good of the society is neither modern nor a western imported idea into India. The story of King Karana who uses to donate a lot of gold daily before his breakfast, similarly, the magnanimity of Lord Krihsana towards his friend Sudama was a classical example of charity in ancient India. In the holy Bhagavad Gita it is mentioned that “He who enjoys the benefactions of the universal deities without due offerings to them is indeed thief” (12th verse Chapter 3rd). It is evident from this verse that those who are exploiting the resources of society and not returning something back are thief indeed. Further, it is also mention that “By the path of right action alone, Janaka and others like him reached the perfection. Also, simply for the purpose of rightly guiding mortals, thou shouldst perform action”(20th verse Chapter 3rd). This verse indicates that through the path of sacrifice one can attain the eternal peace and happiness. Indian culture is rich with such kind of philosophical inputs. Under the influence of these noble ideas Indian business community contributed in different fashions such as by building temples, dharmshalas, shelters, bathing ghats, water tanks, wells, animal refugees, providing drinking water facilities, donation to schools and even dowries for the poor girls.
The present book has been divided into three sections. The first section deals with conceptualisation of the idea of corporate social responsibility. This section contains twenty one chapters. The main focus of this section is on Corporate Social Responsibility – Issues and Challenges, Corporate Social Responsibility and Sustainable Growth ,Corporate Social Responsibility under disguise of Sustainable Development: A Myth or a Reality, New Company Law: New dimensions of corporate social responsibility, Corporate Social Responsibility: A Key to strong Brand Equity, Corporate Social Responsibility in India - Issues and Challenges, CSR practices in North India, Welfare State and Corporate Social Responsibility: A Human Rights Approach, Paradoxes of Indian state & implications of C.S.R in present Neo-liberal regime and Corporate Social Responsibility and Stake Holder Approach.
In the second section an effort has been made to understand CSR and Inclusive & Sustainable Development in the back drop of Gandhian Philosophy. The main focus area of this section emphasised on Understanding CSR with Gandhian perspective,Corporate Social Responsibility and Sustainable Development: A Gandhian Perspective, CSR and the Theory of Trusteeship of Gandhi, Gandhian Philosophy and corporate social responsibility and Relevance of Gandhian Philosophy in CSR for Inclusive Growth.
The third section of this book deals with various other issues such as Corporate Governance, Business Ethics etc. The focus area is confined to the issues relating to; Corporate Environment Reporting: A Conceptual Analysis, Special Economic Zones, its utility and Corporate Social Responsibility, Good Corporate Governance & Ethics: Developing a Market for Morality and Corporate Governance through Audit Committees.