“The Implication of CSR Fund and Social Development. A Case Study on Peenya Industrial Area”
“The Implication of CSR Fund and Social Development. A Case Study on Peenya Industrial Area”
PAVAN A (1DA24BA025)
Student, MBA Programme, School of Commerce and Management, Dr. Ambedkar Institute of Technology, Visvesvaraya Technological University, Belagavi
Dr. S. Baskaran,
Professor, Head, School of Commerce and Management, Dr. Ambedkar Institute of Technology, Bengaluru
Dr. R. Karunakaran
Associate Professor, Department of Cooperatives College of Business & Economics, Hawassa University, Ethiopia
Abstract
Sustainable Business Practices is among the crucial ways where companies work towards community and sustainable well-being development as they pursue their business goals. This study covers implications of CSR funds. The research seeks to identify the impact of companies in using CSR funds, the main fields of investment, the social benefits generated and the challenges encountered in implementing CSR. The data were gathered by using a structured questionnaire with a total 53 respondents from different industries and evaluated using percentage analysis, tables and charts. The collected data highlights that the greater part of companies are actively carried community development programs with a significant amount of investment in domain of academic development, environment sustainability, skill development, women empowerment, and community welfare. The research further suggest that CSR activities have contributed to achieve positive social impacts, including clean environment, job creation, education and awareness. Despite all their efforts, multiple challenges like having limited budgets, needs to comply with regulations, lack of awareness, and the inability to measure the outcome to their CSR efforts remain a barrier to their effectiveness. The results suggest that social welfare activities have beneficial impact on social development in Peenya Industrial Area and also emphasizes the need for strengthening CSR planning, involving stakeholders in the process, and using CSR funding effectively to increase sustainable community development.