CSR Full Form: Types, Approaches, CSR in India, Work etc.

Corporate social responsibility (CSR) could be a variety of international private business self-regulation which aims to contribute to the societal goals of an activist, philanthropic, or charitable nature by engaging in or supporting volunteering or ethically-oriented practices. CSR is usually understood as to how an organization achieves a balance of economic, environmental and social imperatives (“Triple-Bottom-Line- Approach”) while at the identical time addressing the expectations of shareholders and stakeholders. In this sense, it’s essential to distinguish CSR, which may be a strategic business management concept, and charity, sponsorships or philanthropy. Corporate social responsibility is also called corporate sustainability, sustainable business, corporate conscience, corporate citizenship, conscious capitalism, or responsible business.

Application Form

If you are interested to list your NGO in our portal, then fill the form to further process. Our team will coordinate with you. (This form is only an application). 

Types of Corporate Social Responsibility

This section will provide you with types of Corporate Social Responsibility (CSR) and it is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility. Let’s check out in detail.

  • Environmental responsibility: It refers to the idea that organizations should behave as environmentally friendly away as possible. It’s one every of the foremost common styles of corporate social responsibility. Some companies use the term “environmental stewardship” to discuss such initiatives.
  • Ethical responsibility: it’s concerned with ensuring a company is working in a very fair and ethical manner. Organizations that embrace ethical responsibility aim to attain fair treatment of all stakeholders, including leadership, investors, employees, suppliers, and customers.
  • Philanthropic responsibility: It refers to a business’s aim to actively make the globe and society a higher place.
  • Economic responsibility: it’s the practice of a firm backing all of its financial decisions in its commitment to try and do good within the areas listed above. the top goal isn’t to easily maximize profits, but positively impact the environment, people, and society.

Corporate Social Responsibility Pyramid

How CSR Approaches?

A more common approach to CSR is corporate philanthropy. This involves monetary donations and aid given to nonprofit organizations and communities. Donations are made in areas such as housing, health, social welfare, arts, education, and the environment, among others, but excluding political contributions and commercial event sponsorship. Below we have mention the CSR approaches let’s have a look.

  • CSR as corporate philanthropy
  • CSR as risk management
  • CSR as vakue creation

Let’s see the details in brief: Where should big corporations be spending their CSR resources?

ParticularPurposeImpactBenefits
CSR as corporate philanthropyInnovative and promotes a sustainable business modelFundamental strategic and operational impact>Shared values (business institutions and communities)
>Promotes a sustainable business model
>Develops human capital (key in developing countries)
Incorporated into the business strategy
CSR as risk managementComplianceMedium to high strategic and operational impact>Mitigates operational impact
>Mitigates operational risks
>Support external relationships
CSR as vakue creationProviding funding and skillsLittle strategic and operational impact> Corporate philanthropy and sponsorships
> Short-term benefits/not always sustainable
> Limited funds available
>Impact diluted because the limited budget is allocated to many charities
>Corporate competencies and other business assets are not fully utilized.
>Misalignment between business and social responsibility strategies and functions
>Results in minimal social and business impact of social programmes.
NOTE: To see the CSR registration process for your NGO Click Here
Source: https://www.unido.org/

About CSR in India

The Corporate Social Responsibility concept in India is governed by Section 135 of the businesses Act, 2013 and Rules made thereunder wherein the factors have been provided for assessing the CSR eligibility of a corporation, Implementation and Reporting of their CSR Policies. India has the foremost elaborated CSR mechanism and implementation strategy has started its journey to line a benchmark in achieving sustainability goals and stakeholder activism in nation-building.

CSR Quick Fact (Official Data FY 2018-19 to 2019-20)

Here is the official data by (https://www.csr.gov.in/) for how to grow the graph of CSR work across India as a total number of companies, the amount spent and the total number of CSR projects and much more. Let’s have a look.

ParticularsFinancial Year (2018-19)Financial Year (2019-20)
Total Numbers of Companies2496521349
Total Amount Spent on CSR (INR Cr.)1872821231
State & UT Covered3636
Total No. of CSR Projects3084330987
Development Sectors Entered by Companies2930

Source: https://www.csr.gov.in/

CSR Spent: Top Companies in India

Here in this section, we are providing detailed information about Top Companies CSR spent in Crore Let’s have a look.

Company NameAmount (INR Cr.)
RELIANCE INDUSTRIES LIMITED908.71
TATA CONSULTANCY SERVICES LIMITED602.00
OIL AND NATURAL GAS CORPORATION LIMITED582.35
HDFC BANK LIMITED535.31
INDIAN OIL CORPORATION LIMITED518.49
INFOSYS LIMITED359.94
BHARAT PETROLEUM CORPORATION LIMITED346.46
POWER GRID CORPORATION OF INDIA LIMITED346.21
ITC LIMITED342.24
NTPC LIMITED304.92

Frequently Asked Questions (FAQ)

Q. Why Should a Company Implement CSR?

A. Many companies view CSR as an essential part of their brand image, assuming that customers will be more likely to do business with brands that they perceive to be more ethical. In this sense, CSR activities can be an important part of corporate public relations. At the same time, some business founders are also motivated to engage in CSR due to their convictions.

Q. What is CSR?

A. Image result for CSR corporate social responsibility, the term corporate social responsibility refers to practices and policies undertaken by corporations intended to influence the world positively. The key idea behind CSR is for corporations to pursue other pro-social objectives, in addition to maximizing profits.

Q. How many types of CSR?

A. Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility.

Q. What is a CSR strategy? 

A. CSR strategy is the comprehensive plan companies and funders use to design, execute, and analyze their corporate social responsibility initiatives. It includes specific focus areas, program design, promotion and communication approaches, and evaluation procedures.

4 thoughts on “CSR Full Form: Types, Approaches, CSR in India, Work etc.”

  1. I want to set up a charitable trust for raising funds for the Educational requirements of childrens of poor family living in Rural Area and for medical expenses of poor family children’s, Adults. Kindly advise me the procedure, whom to contact to draft required documents, how much does it costs to set up a trust and the minimum amount required

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