CORPORATE SOCIAL RESPONSIBILITY PRACTICES IN SELECTED PUBLIC LIMITED COMPANIES AT BENGALURU: A STUDY

Abstract

Corporate Social Responsibility has become a powerful strategy to alleviate poverty, hunger, unemployment. Companies have realized the needs and expectations of customers and across the globe, the stakeholders have realized the significance of CSR in order to build customer loyalty, enhancing image, and to increase turnover and profit. Customers prefer a CSR company than a non-CSR company. In these days of high competition companies have realized the greater value of CSR and are going beyond the traditional marketing mix to increase the value of intangible assets. CSR has become a gateway to generate brand equity and increase employee loyalty. The intention of maximization of profit is natural in every business unit but social responsibility is an obligation to the people living inside and outside the organisation. Business and society is interrelated and it is the responsibility of business to satisfy various groups of people like owners, employees, customers, government, suppliers etc., CSR has become one of the catch phrases of new millennium across the world and the government and corporate must take care of it. A successful corporate balances the economic and financial goals and optimization of shareholder value with maximization of social benefits to the society. It is clear that the aim of CSR is to build a healthy society and development of communities.