Corporate Social Responsibility: Theory and Practice with Case Studies

The concept of social responsibility is defined as the obligation of business community for the well-being of the people, the state and the environment in which they operate. The business community is required to safeguard the health and well-being of the society. The business organisations are required to produce to the maximum extent possible. The business people should have concerns to the public. They should give priority to the goals set by the government for the betterment of the people. They are required to solve many social and ecological problems such as urban congestion, environmental pollution, industrial discharges to river waters, depletion of natural resources, etc. It is also the responsibility of the business people to cooperate with the government in the eradication of poverty, unemployment, regional backwardness, etc. They have certain responsibilities with regard to consumers, investors, employees and the government. The producers by producing products of high quality and fixing reasonable prices, can discharge their moral obligations to the consumers. The products produced must have utilisation value and their consideration is not solely on profit but on profit with services. The obligation towards the investor involves in providing reasonable dividends to shareholders and to see that the industry grows with stability. They are required to safeguard the assets and properties of the business. They are also expected to look after the employees very well. It means, the payment for the services should be equal to the marginal productivity of the workers. The management should motivate to workers to discharge their duties sincerely and honestly. They should seek the cooperation of the employees in running the industries. Their responsibility to government is immense. They are required to follow rules and regulations of the government. They have to pay due taxes on time. They have to cooperate with the government in various developmental activities. These are various ways in which business community can discharge their responsibilities towards society. This book is based on the research papers contributed by the delegates participated in the international conference on "Corporate Social Responsibility in Business" in collaboration with London Metropolitan University, London hosted by Mohanlal Sukhadia University, Udaipur, Rajasthan. This book covers various aspects of CSR and be helpful for the academicians, business houses, policy-makers and research scholars.