Posted On: Oct. 30, 2017
History CORPORATION SOCIAL RESPONSIBILITY The term corporate social responsibility (CSR) has acquired a great importance both in domestic and international field. With increase in globalization, large corporations serve as global service or material providers and they have started recognizing the benefits of introducing CSR programs at their various locations across the world. The term CSR is often used with improving the bottom line and forms a framework for measuring environmental, social and economic parameters. The underlying principle in using CSR is building business organizations which are competitive and sustainable and which require strong markets, economies and healthy communities. The key proponents of CSR are as follows:- • Enlightened self interest – creating a unified society , a system of ethics, and a global economy which is sustainable and where labor, markets and all stakeholders work in unison • Social investment - taking part in the development of social structure and social capital is now viewed as a essential part of doing global business • Transparency and trust – public at large rate business very low in terms of trust and ethics. Therefore, there is a great expectation that companies should be more open and flexible and accountable for their actions and be transparent in their reporting. There are several styles of CSR, ranging from caring for employees, positive actions that reduce the negative brunt of an organization on environmental, ethical, social and economic issues.