Corporate social responsibility refers to a business's obligations to consider the interests of society beyond its legal and economic responsibilities. A business's social responsibility is influenced by its top management, board of directors, stakeholders, societal factors, industry associations, government laws and regulations, politics, and competitors. As part of its social responsibility, a business must protect shareholders' capital, provide consistent returns and strengthen share prices through innovation. It must also pay fair wages, provide a safe work environment, offer training, recognize employees, and allow participation in decision making. Additionally, a business has a responsibility to consumers to provide quality, safe products and services, engage in research and development, eliminate unfair practices, and ensure transparency.

1. By Ratika Chawla

2. Meaning
 It refers to what does a business does over and above the
mandatory requirements for the benefit of society at large.
 It is the responsibility of business towards various groups like –
towards customers , workers or employees, shareholders and
the community.

3. Factors Affecting Orientation
towards Social Responsibility
 Top management
 Board of Directors
 Internal Stakeholders(Creditors,Employees ,Shareholders)
 Societal Factors
 Industry and Trade Associations
 Government and Laws
 Political Influences
 Competitors

4. Responsibility of Business towards
Shareholders
 To protect the capital of the shareholders
 To provide consistent returns on the investment.
 To strengthen the share prices by improving its position by the
way of innovation .
 To strengthen the image of the company.

5. Responsibility towards Employees
 To pay fair wages and salaries
 To provide the best possible conditions to work.
 To establish fair work norms .
 To provide labor welfare facilities
 To train and educate the workers.
 To maintain a proper system of promotion for the employees
 To encourage the employees by recognition and appreciation.
 To enable them to participate in decision making

6. Responsibility towards Consumers
 To provide good quality products at reasonable prices.
 To improve the quality of goods by Research and
Development
 To take steps so that unfair trade practices can be
eliminated
 To offer after- sale services
 To render the sufficient information about the usage and
risks involved with the goods sold.
 To avoid misleading promotional techniques.