The article examines the different explanations of the concept of CSR, and the strengths and weaknesses of CSR. It discusses the shift from CSR to CSV (Creating Shared Value) by enlightened companies across the globe. CSR in India has evolved from merchant philanthropy to social development oriented activities by companies. But CSR has always been discretionary in nature by the corporate organizations. Some companies have been outstanding in the CSR domain, while many companies involved themselves in CSR activities only for image building. The new Companies Act of 2013 made CSR mandatory for a class of companies. This article also discusses the CSR legislation of the government of India and its implications.
Key Words: Corporate social responsibility, creating shared value, employee volunteering, HR practices.
Vice-President (Human Resources),
Mytrah Energy (India) Limited, Hyderabad-500032