CORPORATE SOCIAL RESPONSIBILITY: NEED FOR TODAY

We all agree that business has a vital role to play in our national and global wealth and well being.  We uphold that education is the liberating force to put an end to social problems then without much discussion the responsibility falls on to the corporate since corporate world is a sole intellectual area.  Thus, it becomes obligatory that the corporate and the government sectors which hold the highest number of educated men and women employed should fight against social problems and injustice.  It is then we could really cherish the political and economical freedoms towards leading our nation to a more inclusive growth.

Corporate Social Responsibility(CSR), the very term falls on some ears with the dull and ominous thud, of another burden on business and another a book of forms to be filled. Corporate Social Responsibility is fundamentally about good business which builds long time sustainable success. What is significant about Corporate Social Responsibility is that the most powerful global corporations now embrace it as a core business principal.

The fast growing importance of Corporate Social Responsibility clearly faces challenges from companies, government and activists in how to respond to the development of corporate social responsibility. When companies carry out such activities the general public eye it with huge suspicion of its role and what it really means. Much of it is deemed to be driven by the Personal Relation needs of the Business. Often the companies tried to cover too much in this CSR activity. That is to say that the quality not the quantity of the social activity matters. There is no one clear agreed statement on what CSR is and how it can be measured.  Lack of legislation and litigation connected to why and how CSR should be practiced, are also need to be addressed. In Present scenario the biggest challenge that exists is the ability to reconcile the profit motives with fulfilling social obligations. The advantages of CSR are as follows.

·Reputation protection: Protecting the company’s reputation will protect the sales, share, price and profits.

·CSR shows a clear connection between responsible business practice and a positive impact on the bottom line because it helps to attract, motivate and retain a talented and diverse work force.

This paper focuses to attempt on analyzing the Expectation of Slum Dwellers’ from Corporate in Tynampet, Chennai, India.

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This is an abstract written for the National Conference Paper Presentation during my studies at Loyola College, Chennai, India (14 March 2008)