Social Responsibility of Business Enterprises

There is a growing perception among enterprises that sustainable business success cannot be achieved solely through maximization of short-term profits. While striving for maximum profit in a market-oriented system, a business enterprise has to ensure responsible behaviour and identity itself with the socio-economic development of the community at large. The profit earning attitude should go hand in hand with societal needs. This approach has assumed added significance in the wake of business liberalization wave sweeping across the globe. a large number of social responsibility aspects have to be taken into consideration with due weightage to the objective function of a business enterprise, i.e. profit maximization. Corporate Social Responsibility (CSR) is the alignment of business operations with social values and has found recognition among enterprises, policy-makers and government functionaries. It is an important element of emerging form of governance. This book is an attempt to cover the diversified theoretical and practical issues concerning the operations of a business enterprise intermingled with social responsibilities.