Introduction Today we noticed that the business enterprises use malpractices and misleading advertisements , adulteration products, poor working conditions for employees, environmental pollution etc. So we tend to believe that business houses just meant to earn profit. But its not true as these are socially responsible and ethically upright and at the same time highly profitable.
Meaning of Corporate Social ResponsibilityCorporate Social Responsibility is thecontinuing commitment by business tobehave ethically and contribute toeconomic development while improvingthe quality of life of the workforce andtheir families as well as of the localcommunity and society at large.
Socially undesirable behavior Manufacturing and sale of adulterated goods Making deceptive advertisements Not paying taxes due Polluting the environment Exploiting the workers Poor working condition etc.
Socially undesirable behavior acceptable? This may increase the profit but have adverse effect on society at large. A business enterprise is permitted by society to carry on industries or commercial activities and thereby earn profits. It is through socially responsible & ethically upright behavior that business enterprises can get durable success.
Examples- CSR Nokia mobile company- Recycling Campaigns to sensitize the people on e-waste and benefits of recycling. Vodafone Essar Ltd., an Indian unit of the U.K.s Vodafone group , serves the slums of Mumbai, some of the most populous shantytowns in the world, with partners chosen from among the local businesspeople. The Delhi Metro Rail Corporation (DMRC) has opened an ‘Old Age Winter Home’ for male senior citizens at Govindpuri in south Delhi and built a home for boys in Tiz Hazari and for girls in inderlok metro station part of its corporate social responsibility (CSR) activities.
CSR towards various interest groups Shareholders or owners - fair return ,safety on investment and true information about company working as schemes of future growth. Workers- provide meaningful work, good working condition, rights and fair wage. Government and community - respect laws of country, pay taxes regularly and honestly, protect natural environment, work with well accepted value of the society. Consumers – provide right quality and quantity of goods and services to consumers at reasonable prices. The facts about the product should not be misleading.