Abstract

In the ever changing global marketing scenario, coping up with corporate social responsibility (CSR) practices and company’s business practices is becoming the need of the hour but it is difficult to maintain the balance between these two. With the market ups and downs, corporate organizations have to be prepared for the consequences, and a balanced approach is required to support CSR and its integration into traditional business management systems with the changing markets. So it is very important for the companies to deal with potentially conflicting market situations, and the amount allocated to CSR projects changes with market changes. These are some of the issues top on the priority list of organizations. This study is an attempt to discover out new mechanisms and newer initiatives undertaken by the companies to manage their CSR practices in the recessionary period. In the end, new mechanisms and initiatives are supported with the case study of HMEL Bathinda refinery. Finally, it is the business firms that are going to be benefited by the implementation of all these social responsibility practices.

Key words: Corporate social responsibility, integration, traditional management system, mechanisms.