RELEVANCE OF CORPORATE SOCIAL RESPONSIBILITY IN THE PRESENT SCENARIO

Commerce

NATIONAL CONFERENCE ON EMERGING TRENDS IN BUSINESS: Social and Legal issues in India

In the globalised scenario, the corporate strive to maximize their profit at any cost by neglecting the social interest. They are not concerned about the harmful effect caused to the society. But now the situation has changed, no longer can firms continue to act as independent entities regardless of the interest of the general public. Companies are beginning to realize the fact that in order to gain strategic initiative and continued existence, business practice may have to be moulded from the normal practice of solely focusing on profit to factor that contributes to social responsibility. Corporate Social Responsibility (CSR) is the social commitment of corporate sector to behave ethically towards the society by upholding social values. This paper aims to understand the concept of CSR, identify the approaches to CSR and to study the relevance of CSR within the organisation and society.

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