Corporate Social Responsibility
...Business Responsibility and an organization's response on environmental, social and economic issues. Positive actions that reduce the negative impact of an organization on these issues can be seen as a way of managing risk. Corporate reputation, Governance and Ethics are headline issues associated with CSR that have made the NEWS headlines in the last few years.
Business Ethics, being a vital part of Modern Concept of CSR, has been low profile in Business Publication and Business School Curriculum, has suddenly gained status. The word, "ETHICS" was once considered irrelevant by corporate loyalists but now discussion of it is increasingly seen as not only important but also as critical to a company's success. Till the 1990's Indian corporate regarded Business Ethics as a mere extension of Philanthropy. Although corporate giants like TATA(s) and BIRLA(s) contributed generously to Philanthropic causes, it was only after the concept GML of Resources (Globalization, Mobilization and Liberalization of Resources) was introduced by Dr. Manmohan Singh (The Then Finance Minister of India) that the Philanthropic Concepts broadened.
Business Analysts in developing countries have come to a conclusion that Ethical subjectivism, relativism, consequentialism and virtue is important to develop a positive attitude towards resolution of conflicts and development of industries.
In Developing countries like INDIA, CSR stands to be of vital importance for a mutual and symbiotic growth. The growth defined is not only of the individual but for the society as a whole and country at large.
INTRODUCTION
The catch word of the world economy is Globalization. Countries like India, which have huge population, high unemployment and generally people are poor is unable to fulfill the expected demand of the diverse fraternity within and outside the parameters of the country. Structural...
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