Sustainable development through CSR practices in the area of community services: evidence from select Indian public and private manufacturing firms. (11th March 2022)

• Record Type: Journal Article
• Authors: Srivastava, Vimal; Dhiman, Rahul
• Is Part Of: World review of entrepreneurship, management and sustainable development. Volume 18:Number 3(2022)
• Page Start: 348
• Page End: 370
• Publication Date: 2022-03-11
• Subjects: corporate social responsibility -- stakeholders' perceptions -- sustainable development; Sustainable development -- Periodicals; Entrepreneurship -- Periodicals; 338.04
• Languages: English
• ISSNs: 1746-0573

Abstract

It is pertinent to see how Corporate Social Responsibility (CSR), social initiative of the government is being undertaken by the public and private sector companies to ensure sustainable development of an enterprise. Considering the importance of CSR, this paper is an attempt to examine how CSR practices in the area of community services are being conducted by various public and private manufacturing firms. Also, this paper highlights stakeholders' perceptions and involvement in CSR projects. The findings of this study reveal that CSR has itself become a business strategy which is closely aligned to the core objectives of the companies. Also, with the increase in awareness about CSR, this has become more prominent. The data reveals that according to policymakers of private sector entities, majority of the investment in the community is oriented towards sports among the nearby community people and socio-cultural development in the surrounding areas. However, the activities of private firms are focussed towards training programs such as computer training, tailoring, making paper bags. It is recommended that since CSR activities also improves goodwill of the company so conducting regular CSR activities may also help in the sustainable development of the selected firms.