Vol. 1, Issue 2, Part B (2015)

Abstract
The journey of corporate social responsibility was started in the form of philanthropy, but with the passage of time due to the growing exploitation of natural resources and disturbances in the environmental system caused by the corporate sector, it has become an obligatory aspect nowadays. Several standards have been prescribed regarding the quality of the product, environmental aspects, use of natural resources, corporate governance, etc, and these all standards today are the part of corporate social responsibility. It has become fashion for the corporate to be known as socially responsible and believer of sustainable development. Several Awards have been instituted for the firms doing good jobs in the field of CSR, however, still the corporate are taking CSR as ornamental crown, and the real cause of concern is still not addressed. Even the rating agencies are assigning ranks to companies according to their own criteria without actually judging the real performance of company regarding CSR. This paper is a sincere effort to diagnose the emerging dimensions of the CSR.