Corporate Social Responsibility for Social Impact: Approach to Measure Social Impact using CSR Impact Index

Abstract

Corporate Social Responsibility (CSR) has assumed a new meaning in today’s world, given that it has extended the boundaries of the firm into the society. In this paper we discuss the broad patterns of CSR practices among top 200 Indian corporations. We explain the concept of CSR in the Indian scenario, the social issues addressed by the Indian corporations, and methodologies adopted by them to address those issues. We also discuss how these CSR activities bring change in the lives of these disadvantaged and deprived people. It will help the readers to understand the current state of Indian CSR, its impact on the Indian society, and how to measure the impact of CSR initiatives using a newly proposed CSR Impact Index.