International Journal For Multidisciplinary Research

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Issue and Challenges in Effective Policy Implementation of Corporate Social Responsibility: A Comparative Analysis of India and United Kingdom with Special Reference to Indian Companies Act 2013 and the UK Companies Act 2006

Author(s) Swetha Shivangini, Prof. Dr. Anil Dixit, Dr. Jitendra Singh
Country India
Abstract In this modern era, organizations are required to be conscious of what they are doing and how they are doing their businesses. Corporate Social Responsibility (CSR) is a proposed action undertaken by companies to not just focus on growths, but also take an active and positive social participation in the world around them. According to UNIDO, CSR is basically based on economic, environmental and social perspectives called “Triple Bottom Line Approach” which a company achieves while at the same time addressing the expectations of the shareholders. Corporate Social Responsibility has been proven to be a paramount business method and has attained much recognition from the administration of multinational companies. It promotes the idea of business performance with public welfare. The idea of Corporate Social Responsibility has been introduced with an aim to ensure economical development of the society. Inculcating the view that accepting Corporate Social Responsibility into businesses could be contributory in delivering societal value, especially in a developing country like India. Business Sustainability in India is certain as the Indian government embraced the legislative perspective to remodel the business and society nexus in form of requisite CSR activities with the Companies Act 2013.In United Kingdom business sustainability or CSR is considered as the ‘volitional activity businesses take over and above lawful requisite to control, manage and enhance economic, environmental and societal impacts.’ The UK Companies Act 2006 provides the roadmap of CSR related laws in UK. This paper makes an attempt to understand the concept of Corporate Social Responsibility, and analyze its overall development in India and U.K. It gives prominence to the policies governing it in India and U.K and look forward to study the issues and challenges in its implementation.
Keywords Corporate Social Responsibility, Social Welfare, Triple Bottom Line Approach, Business Sustainability.
Field Sociology > Administration / Law / Management
Published In Volume 6, Issue 3, May-June 2024
Published On 2024-06-06
Cite This Issue and Challenges in Effective Policy Implementation of Corporate Social Responsibility: A Comparative Analysis of India and United Kingdom with Special Reference to Indian Companies Act 2013 and the UK Companies Act 2006 - Swetha Shivangini, Prof. Dr. Anil Dixit, Dr. Jitendra Singh - IJFMR Volume 6, Issue 3, May-June 2024. DOI 10.36948/ijfmr.2024.v06i03.21927
DOI https://doi.org/10.36948/ijfmr.2024.v06i03.21927
Short DOI https://doi.org/gtxrn2
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