The concept of Corporate Social Responsibility (CSR) underwent a overhaul in India for certain large, stable companies post the passing of the Companies Act, 2013. It transited from being a voluntary, sporadic exercise to mandated, objective, structured, transparent and accountable compliance -not only to the Government, but also to the other stakeholders and most importantly, to the Companies themselves. As a result, Corporate Communication on CSR became extremely relevant. Moreover, study of mandated CSR (here, under the Section 135 and Schedule VII of the Companies Act, 2013) also became a new area for knowledge creation. Although, much research has been done in the past to assess the relationship of CSR Communication with CSR and study the relationship of CSR with regards to Firm Performance, yet, this investigation remains the first empirical study done in the post-mandate period between the years 2015-2017, barely two years since the Act came into existence.
Corporate social responsibility (CSR) and corporate sustainability represent the way companies achieve enhanced ethical standards and a balance of economic, environmental and social imperatives addressing the concerns and expectations of their stakeholders. Corporate governance reflects the way companies address legal responsibilities, and therefore provides the foundations upon which CSR and corporate sustainability practices can be built to enhance responsible business operations.Operational uncertainties and difficulties are compounded by recent observations of 'company anxiety' regarding CSR communications. Over-promising or declarations of rightness and good intentions could cause the mistrust of consumers and stakeholders, creating the opposite effects from those expected. Companies are recognizing that corporate responsibility communications should be low tone and straightforward, reflected in the actual behaviour of every member of the company, which is extremely difficult to achieve before CSR is integrated into the company's bloodstream.
PrologueIn market economies, the primary purpose of companies is to maximize shareholder value (for example, economic profit, share price and dividends) bound by legal/regulatory obligations which address specific social and environmental issues. For this, companies pursue competitive strategies which rely upon and develop relationships between the corporation and its stakeholders.Since the early 1990s, corporate responsibility issues, including the social obligations of corporations, have attained prominence in political and business debate. This is mainly in response to corporate scandals but also due to the realization that development centred only on economic growth paradigms is unsustainable and therefore, there is a need for a more proactive role by states, companies and communities in a development process aimed at balancing economic growth with environmental sustainability and social cohesion.This debate has motivated the following three interlinked movements in the corporate world:1. corporate social responsibility (CSR);
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