Corporate Social Responsibility is the concept of integration of social and environmental concerns into the business operations and interactions with their stakeholders. It is the way through which a company achieves a balance of economic, environmental and social imperatives.
Corporate Social Responsibility (CSR) is efficient way to fulfill the social roles and responsibilities:
- It is internally induced change. So it has greater impact on organisational values and goals.
- It follows the principle of justice – equal sharing of benefit and burden.
- It increase connect with the society and business can solve socially important issues like malnutrition, sanitation etc
- It increases social capital which is an important factor in profitability of companies.
Corporate Social Responsibility (CSR) is not sufficient to fulfil the social roles and responsibilities:
- There must be technological adoption to reduce pollution and environmental degradation.
- Voluntarily more women members must be taken as board members.
- Workers welfare must be paid attention to in line with Gandhiji’s trusteeship principle.
Business without morality is a sin as per Gandhiji. Companies must go beyond CSR to conduct ethical business.