Responsible Business, Resilient Nations: Legal Insights into CSR Practices

Layasri B; Sribala V

doi:10.36948/ijfmr.2023.v05i06.9775

Responsible Business, Resilient Nations: Legal Insights into CSR Practices

Author(s)	Layasri B, Sribala V
Country	India
Abstract	This paper's main emphasis is on the legal shells created to control and promote CSR in developing nations. We identify the dissonances in these structures across various administrations through a thorough analysis. This relative approach sheds light on the variety of ways used to make legislation governing corporate responsibility. We also examine the effectiveness of these legal structures, fastening on their capacity to promote and uphold ethical business actions. To give practical perceptivity into the legal structure's impact, we offer a series of compelling case studies. These cases spotlight companies operating in different sectors within developing countries, shedding light on their CSR initiatives' tangible outcomes. We probe the symbiotic relationship between CSR engagement and commercial success, as well as its transformative effect on original communities. Amidst these accomplishments, we confront the fearful challenges and limitations essential in administering CSR mandates. These challenges encompass issues of compliance, responsibility, and governance. We explore the intricate part of corruption as a lurking obstacle that can hinder the genuine fulfillment of CSR objects. In response to these challenges, we present an amalgamation of formal practices and forward- looking recommendations. These perspectives are designed to guide policymakers, businesses, and stakeholders in developing countries towards a more effective integration of CSR principles into their operations. Likewise, we dig into the part of multinational associations and cross-sector affiliations in catalysing and sustaining CSR efforts. In whole, this paper provides a multifaceted study of the legal frame upholding CSR initiatives in developing countries. By illustrating the motivations, examining legal structures, analys ing case studies, and addressing challenges, it seeks to equip stakeholders with a comprehensive understanding of the transformative eventuality of CSR in fostering sustainable and indifferent development.
Keywords	Corporate Social Responsibility(CSR), Developing countries, Legal framework, Challenges, Initiatives
Field	Sociology > Administration / Law / Management
Published In	Volume 5, Issue 6, November-December 2023
Published On	2023-12-03
Cite This	Responsible Business, Resilient Nations: Legal Insights into CSR Practices - Layasri B, Sribala V - IJFMR Volume 5, Issue 6, November-December 2023. DOI 10.36948/ijfmr.2023.v05i06.9775
DOI	https://doi.org/10.36948/ijfmr.2023.v05i06.9775
Short DOI	https://doi.org/gs7v2r

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Responsible Business, Resilient Nations: Legal Insights into CSR Practices

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