| CSR as a significant subject of public policy has been occupying a vital place in the Indian corporate scenario, as it has build up sustainable relationship with the society at large with the increasing socio-regulatory forces. . The first reference of the term corporate social responsibility was mentioned in the publication ‘Social Responsibilities of Business’ by William. Bowen in 1953. In India, there has been a persistent close business involvement in societal issues for national development, known as social duty or charity donations, philanthropy, and service to community, industrial welfare, now particularly termed as CSR. Lord Holme and Richard Watts defined the term CSR in the publication ‘Making Good Business Sense’ by The World Business Council for Sustainable Development as ‘Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.’ The era of 21st century would necessitate implementing CSR like other management strategy with careful planning with implementation mechanism. |