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| Article Name : | | | REBUS – THE NEW VEHICLE FOR CSR | | Author Name : | | | M.N. PRABADEVI AND A. CHANDRAMOHAN | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | ISRJ-65 | | Article URL : | |  | Author Profile | | Abstract : | | | The voluntary compliance of social and ecological responsibility of companies is called Corporate Social Responsibility (CSR).Corporate social responsibility is basically a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment. Corporate social responsibility is represented by the contributions undertaken by companies to society through its business activities and its social investment. This is also to connect the Concept of sustainable development to the company's level. Over the last years an increasing number of companies worldwide started promoting their Corporate Social Responsibility strategies because the customers, the public and the investors expect them to act sustainable as well as responsible. In most cases CSR is a result of a variety of social,environmental and economic pressures.
The Term Corporate Social Responsibility is imprecise and its application differs. CSR can not only refer to the compliance of human right standards, labor and social security arrangements, but also to the fight against climate change, sustainable management of natural resources and consumer protection.The concept of Corporate Social Responsibility was first mentioned 1953 in the publication 'Social Responsibilities of the Businessman' by William J. Bowen. However, the term CSR became only popular in the 1990s, when the German Betapharm, a generic pharmaceutical company decided to implement CSR. The generic market is characterized by an interchangeability of products. In 1997 a halt in sales growth led the company to the realization that in the generic drugs market companies could not differentiate on price or quality. This was the prelude for the company to adopt CSR as an expression of the company's values and as a part of its corporate strategies. By using strategic and social commitment for families with chronically ill children children, Betapharm took a strategic advantage.
In July 2001, the European Commission decided to launch a consultative paper on Corporate Social Responsibility with the title „Promoting a European Framework for Corporate Social Responsibility“. This paper aimed to launch a debate on how the European Union could promote Corporate Social Responsibility at both the European and international level.How a company perceives its societal responsibility depends on various factors such as the markets in which it operates, its business line and its size. | | Keywords : | | - ecological , society , cleaner environment , corporate social responsibility .
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