ESSENTIAL ALIGNMENT: CORPORATE SOCIAL RESPONSIBILITY AND SOCIAL IMPACT ASSESSMENT FOR SUSTAINABLE DEVELOPMENT-AN EMPIRICAL STUDY

Abstract

ABTRACT The impacts of Corporate Social Responsibility activities takes place in different forms. There is now a growing concern over the fate of the displaced people due to expansion of the companies. This has given rise to the need to understand beforehand the implications of adverse project impacts so that mitigation plans could be put in place in advance. The tremendous changes in the last decade of the twentieth century, the companies have witnessed a shift in focus from charity and traditional philanthropy toward more direct involvement of organisations in development of the needy and poorest of the society. In India, there is a growing need for alignment of Social Impact Assessment with Corporate Social Responsibility as the organisations cannot succeed in isolation but social progress is necessary for sustainable growth in the competitive world. The alignment of Social Impact Assessment (SIA) and Corporate Social Responsibility (CSR) programmes of companies need to focus on community initiatives at the local level which leads to sustainable development of the community and brings good image to the company. The present paper focuses on the essential alignment of Social Impact Assessment and Corporate Social Responsibility by the case studies of two public sector undertakings at Karimnagar region in Telangana State, India.