Integration of CSR Strategy Model in Organisations

Abstract

From profitability and financial performance, corporates operating in India, added up social performance, after the Companies Act 2013.Though earning profits is the main motive of businesses, corporates owe to the society not only as responsibility, but requirement to repay to the society contrary to the view of many management thinkers. Inclusion of CSR as mandatory by the Companies Act, 2013 is a conscious action to add up to the government’s work towards bringing equality and fair growth opportunities to the common people. CSR provides an equal opportunity to the corporate world to engage in the country’s development. With CSR strategy in place, companies will be able to plan the whole gamut of their contribution towards the society. The CSR strategy model is sure to enable corporates to become more structured in their CSR role towards community development. The “four P- CSR Strategy Model” would make companies view CSRs’ purpose, plan, partners and performance in new light. The research gives a holistic perspective of corporate and community relationship citing CSR practices of three reputed companies, i.e. Tata Motors, Wipro and RIL. The paper also provides understanding of social activities that can enhance corporate’s bond with society.