Corporate Social Responsibility Practices; Challenges ofModern Business
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 9
Abstract
Business activities today have a dominant influence on the life of citizens and the society in different ways. In pre-modern times, it was not necessary for business men to be concerned with the social value issues of business since values were expected to be upheld by market forces. The success of a business in itself was taken as prima facie evidence of social value of that business over its less successful competitor. Companies are now expected to discharge their stakeholder responsibilities and societal obligations, along with their shareholderwealth maximization goal. The business firms utilize, explore and exploit the valuable and scarce resources which help the business entities grow and survive within the total framework. The business social responsibility practices in India still present a gloomy picture with only a few companies are being serious about it. Heavy amounts are being spend by big companies for the social and community work like health, education, women project, environment, art etc. All these laudable efforts by some big companies are however, only a drop in an ocean. Huge scope for expansion and improvement still remains. Instead of restricting themselves to a few areas of literacy, pollution, health etc… corporate should reach out to other related areas like providing basic amenities to employees and local community, support and help to other under privileged and senior citizens of the society and take proper use of available natural resources and manpower resources.
Authors and Affiliations
Firoskhan A.
Keywords
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- EP ID EP412451
- DOI 10.9790/487X-2009020104.
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