What is Corporate Social Responsibility (CSR)

What is Corporate Social Responsibility (CSR)

What is Corporate Social Responsibility (CSR) - Benefits of Corporate World - What are the Benefits of Capitalism | Tips on - Find Tips“Corporate Social Responsibility” (CSR), is an issue on the agenda of every major corporate in the western world. CSR seemed to be a fad in its initial avatar, but now it has taken off. It’s getting the required attention now, that more prominent and world‘s personalities are identifying their role in it. Hopefully this time it is not for just the financial benefits and the tax breaks but as a genuine concern for the betterment of the world as a whole. Capitalism has impacted lesser number of people than it has excluded them.

So it’s our imminent responsibility to see how the benefits of capitalism reach out those who missed the bus. Good corporate social responsibility practice in theory is different to philanthropy. Business has a role to play in the society, apart from thinking and benefit its shareholders. A good corporate citizen is the one who takes its corporate social responsibility towards its various stakeholders – employees, customers, government and communities seriously.

CSR is the integral part of business strategy

CSR is something in which a business is not pressured into but which it thinks is an important component of doing business. Big billionaires like Bill Gates and Warren Buffet are the ample examples.

What is CSR basically is?

The TATA group of India is the perfect example. They not only set up their steel plant around a century ago but also developed the whole city alongside. They also developed railway network, education, road network, housing, power plants, playgrounds and park for the society as a whole to benefit from it.

Had they not done it, the Jamshedpur city of India, the town would not have the correct infrastructure to support the steel plant. This attitude of the company has made a positive impact on the livelihood of community, at the same time ensuring smooth and efficient running of the plant. It’s a win-win situation for all and thriving example of what corporate social responsibility is all about.

Acording with the Digital Millennium Copyright Act (“DMCA”), Pub. L. 105-304 If you believe that your copyrighted work is being infringed, notify our team at the email [email protected]

@[email protected] business business-and-society

MORE ABOUT What is Corporate Social Responsibility (CSR)