Corporate social Responsibility (Management)

Corporate social Responsibility

We frequently see and hear about social contribution of organizations beyond their basic purpose and functions. They spend money for developing education, improving public health,conserving and promoting environment and controlling negative impact they are causing. They are open, honest and transparent toward stakeholders and provide reliable information to them. They believe and practise corporate governance, provide accurate information to government and pay tax.

   

The term society refers to all those individuals, institution and other entities that come on contract of the business firm and the tern responsibility denoted some kind of an obligation on the part of the business firm to  fulfill the demand of such individuals or institutions instead of as they help in business activities. So, social responsibility is the obligation of an organization to protect social norms values and rules of society within which the organization performs business activities to fulfill their objectives.