Corporate Social Responsibility is an elastic term, mainly
talked about only in relation to the big companies. The term CSR has had
significance at a time when the world did not witness various categories of
industries and organizations. But now the situation has changed so dramatically
that the industries and establishments at various levels, starting from the
micro enterprises to the biggest corporation, have a space to play their
respective role. Presently, more than 90 percent of businesses across the world
are accounted for by Small and Medium Enterprises (SMEs). Notably, the SMEs
also provide employment to over 50 percent of the world’s population.
Unfortunately, CSR initiatives, so
far, have tended to focus mainly on large and multinational companies
(MNCs).The CSR has to get a wider spread and also there is a need to bring
about extensive changes in the perspectives. The vehement resistance that we
witness against the establishment of industries clearly suggests that there is
a wide communication gap, misunderstanding and disillusionment in society. If
the principle of CSR is implemented in the proper manner, it can go a long way
in solving and preventing many issues that are now commonly seen on the scene.
The term CSR, therefore, requires a paradigm shift. The concept is to be
suitably modified and has to be applied across the spectrum, for which we
require a broad framework and a comprehensive set of rules.
The ultimate objective of this work
is to highlight and garner support for moving towards new vistas of thinking,
whereby all industries and business establishments would embrace the need to
feel more committed and obliged towards the requirements of the society.
Joseph an Industrialist for more than 15 years is the present Honorary
Consul of Sri Lanka in the State of Kerala. His vast experience and knowledge
on Industrialization and an avid interest of entrepreneurship instigates him to
come up with his book on CSR Business Racism.