Manav Thakkar, BBA LLB, Symbiosis Law School, Hyderabad, Symbiosis International (Deemed University)
ABSTRACT
An organisation doesn't really exist in solitude. It takes in information from its surrounding and trades it in the form of goods and service with all of the other members of the community in which it lives. The cutting-edge marketing strategy that can be gained through CSR involvement and disclosures is an organization's capacity to gain society's confidence and approval while keeping a cordial and balanced connection with its working surroundings. This study investigates the impact of corporate social responsibility on organisational success. It also investigates multiple definitions and views on CSR projects. It also examines multiple interpretations and perspectives on corporate social responsibility. It listed some of the positives of corporate social responsibility participation as effective promotional image and performance, higher investor confidence and trust, and consumer pleasure, all of which are intangible resources for any firm's performance and growth. It was deduced that CSR participation and revelations are efficient business techniques for creating a competitive edge over competing companies and maintaining harmonious relationship with host communities/societies, both of which are critical for corporate survival in today's highly competitive and volatile business settings. It said, among other things, that firms should assure proper and strategic CSR participation in order to maintain their stakeholders' acceptability and loyalty. Corporations must also implement proper CSR disclosure procedures to disclose their CSR activity to society in attempt to acquire the current societal good-will, build a favourable public persona, and earn the general societal confidence and approval.
Keywords: Corporate Social Responsibility [CSR], organisational success, societal goodwill, corporate survival, harmonious relationship.
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