DEVELOPING A CONCEPTUAL FRAMEWORK FOR EFFECTIVE CSR THROUGH ACCEPTABILITY CONCEPT
Corporate Social Responsibility (CSR) is the continuing commitment by business to behave fairly and responsibly and contribute to economic development while improving the quality of life of the workforce and their families as well as local community and society at large. The CSR practices
adopted by the corporate houses in India are still in the nascent stage. These practices are mostly evaluated on the basis of the perception of the stakeholders, as well as how they rate the company on a responsibility index. It is this acceptability by the stakeholders that makes the difference. This article tries to examine the effectiveness of CSR through acceptability concept. Companies should ensure that their CSR initiatives are demand based and suit the local needs. Only then can they be acceptable and this acceptability is the real test of CSR success.