|Title||A PARADIGM SHIFT IN THE CONCEPT OF CORPORATE SOCIAL RESPONSIBILITY TO INDIVIDUAL SOCIAL RESPONSIBILITY- THE CHANGING TRENDS|
Shanti Dahal & Saloni Sinha
Birla Institute of Management Technology, Greater Noida, INDIA
With the impact of the concept of socially responsible behavior in business, Corporate Social Responsibility (CSR) is gaining momentum in the recent times. The magnitude of CSR is such that educationists, social activists as well as CSR practitioners worldwide are contributing towards its effectiveness. The present paper reviews the literature on CSR to understand the changing phenomenon and trends in CSR, thereby explaining the concept of individual social responsibility (ISR). Secondary data used to understand the CSR reporting trends in India were reports published by research organization- KPMG, as well as a study done by a major University in India to understand the CSR practices of 300 firms in India. Case studies by FICCI and CII have also been used to map the CSR activities prevailing in India. Further qualitative research methods in terms of case studies were used to analyze the trends in CSR. This paper identifies three important concepts in CSR- Shift from Charity to Responsibility, Changing role of CSR from Human Resources to Self- Driven Function and Shift from CSR to the concept of Individual Social Responsibility. The concept of ISR explains the phenomenon, whereby more and more employees are willfully contributing their efforts to a social cause towards building a sustainable community and nation. Employee engagement in ISR also helps build employee self- esteem and motivation, thereby increasing the employee retention, productivity and profitability of an organization. ISR scenario also enhances prospects of co-creation of creative digital knowledge sharing platforms and capacity building tools for meaningful volunteerism.