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CSR - A Fad or a Necessity

In recent decades the concept of Corporate Social Responsibility (CSR) turns out to be a vital strategy for companies to survive in a ruthless market environment. Adopting a  CSR  strategy is seen to be emerging as a survival tool in a condition where the market’s shift and customers’ preferences become more unpredictable & complex. Corporate Social Responsibility is essentially a concept whereby the companies emphasize & integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. With high CSR standards, the companies testify its operational performance & demonstrate an ethical and sustainable approach of dealing with the environment & social impacts. In India, the practice of  CSR  is gradually moving from institutional building to community development through various projects. Forasmuch as global influences and communities are becoming more active, CSR is turn...