CORPORATE SOCIAL RESPONSIBILITY

Corporate Social Responsibility

Corporate Social Responsibility

Corporate Social Responsibility:

Corporate social responsibility (CSR) is also known as corporate responsibility and corporate citizenship, responsible action, responsible action constant (SRB), or the performance of social institutions. It is a form of the report of the companies and organization have been incorporated into the business model. Ideally, the policy of corporate social responsibility is a compact, self-regulation and the mechanism by which the work would monitor and ensure their commitment to the law and ethical standards and international rules. (William, Werther, David, 2005, 56-79)The development of the businesses in claiming the responsibility by the impact of its activities on the environment, consumers and workers, local communities, stakeholders and all other members of the public domain.

Furthermore, it proactively works in strengthening the public interest, by encouraging the growth and development of society, and voluntarily on the Elimination of practices which are acting as damaging the public domain, regardless of legality. Corporate Social Responsibility is essentially the inclusion of socially responsible companies to deliberate the public interest in the resolution companies decisions , and in honour of the triple bottom line : people, planet and profit.

The practice of corporate social responsibility is a subject of debate and criticism and widespread. Proponents argue that there is strong demand for the issue of social responsibility of businesses, and companies that benefit in many ways by working with a broader perspective and longer than their own direct, any short-term profits. Critics argue that the act of corporate social responsibility of the primary economic role of companies, and others believed that no more than window surface is decorated , and some say it was an attempt to pre-empt the role of governments as a watchdog on the powerful multinational companies . (Argandona, 2001, 163-175)

Corporate Social Responsibility and nature of business:

The companies are responsible only to their shareholders, not society as a whole. In spite of the companies accept only that it must comply with the laws within the countries in which they work, they argue that companies do not have any obligation another community. Some people look at corporate social responsibility as it is inconsistent with the nature and purpose of the business, but is considered an obstacle to free trade. Analyst assert that the social responsibility of companies match with capitalism and are in favour of neo-liberalism and argue that improvements in health and longevity or infant mortality may have been created by economic growth are attributed to free enterprise. (Spar, La Mure, 2008, 78-101)

CSR is the concept of creating a good sense of business. Basically, it means that in Corporate Social Responsibility: how a business should ethically behave and how it can contribute in the growth of the economy while improving the quality of life at workplace and their families including the society and community.

A theory with the name of “creating shared value” was presented by Professor Michael Porter. This theory states that corporate success and Social welfare are interdependent and go hand in ...