The terms like corporate social responsibility, corporate social performance, strategic volunteerism, enviropreneurial marketing, and strategic philanthropy have infiltrated the mainstream business literature since long and their integration with and marketing strategy is being seen as an effective socio-marketing strategy (Turban & Greening, 1997). The Corporate Social Responsibility (CSR) concept has been increasingly in picture and in demand for its greater transparency (Ogrizek, 2002) regarding organizational operation environment and performance. The organizations are being seen to show remarkable concern in undertaking social initiatives in a highly competitive environment. Further, the growth in socially responsible investments and in CSR awareness among public have led to the thinking that the successful firm of future will be the firms which will proactively balance short-term financial goals with long-term sustainable corporate brand building (Ogrizek, 2002, Stroup & Newbert, 1987 and Varadarajan & Menon, 1988).
The factors that are driving this move towards corporate social responsibility include new concerns and expectations of stakeholders, citizens, consumers, public authorities and investors, influence of social criteria in the investment decisions of individuals and institutions both as consumers and as investors, increased concern about the damage caused by economic activities to the environment, and transparency of business activities brought about by the media and modern information and communication technologies. Generally, CSR is considered as firm's obligation to protect and improve welfare of the society and its organization, now as well as in future (Staples 2004), through various business and social actions (Sen and Bhattacharya, 2001; Turban and Greening, 1997), and ensures that it generates equitable and sustainable benefits on the various stakeholders. Chakaraborty et al. (2004) have viewed CSR as a mean of achieving commercial success in ways that honors ethical values, respect people, communities and natural environment, and encompasses all those actions of the organizations which affect the society and its well being. The main fundamental embedded in CSR, according to them, is that no business corporate can act as isolated from broader issues of society. According to Ogrizek (2002), CSR is all about competing beyond technology, quality, services and price, in fact, all areas where competitive advantage is short-lived or lacking. He defines the scope of CSR to embrace not only charitable, philanthropy and community involvement activities but also business practices including environment management system, human resources policy, and strategic investment for sustainable future. Rao (2005) asserted organizations operating with good governance in the interests of all stakeholders, ensuring to add to company's wealth by following the laws and customs of the society, developing the capabilities of all in the enterprise and particularly of the disadvantaged, sensitivity to environmental and ecological effects of their actions, and taking some responsibility for improving the life of the community, can be said to be following CSR practices.
Impact-wise, CSR has been considered as one of the antecedents for economic performance and also as a measure of proactive social responsive view (McGee, 1998). Maignan & Farrell (2004) have conceptualized CSR holistically under four heads, social obligation, stakeholders obligation, ethicsdriven and managerial process, on the basis of the studies conducted by various authors. The present paper has adopted comprehensive view of CSR by integrating the different concepts given by various authors under five heads, namely organization culture, human resources, products and services, social development activities and regulatory environment.
From the comprehensive aspect, in general, CSR activities embrace all organizational activities relating to organization and society. …