Chapter Name: Handmaid of ethics: Corporate Social Responsibility Creative Question: (Some question have a requirements which...

Chapter Name: Handmaid of ethics: Corporate Social Responsibility

Creative Question: (Some question have a requirements which is give with the question)

Why social responsibility of business in CSR?- Explain in your own word. ( Requirement: You must include in this topic :Accountability to society and Corporations’ debt to society) .

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Expert Solution

CSR or Corporate social responsibility is the part of business ethics where the companies pay back the society for the resources used by them or to compensate for the losses caused to the society. It is also helpful to the companies also, as they get to establish a good public image. Companies these days are opting for contributing to society by various campaigns like saving environment, promoting child education, empowering women, etc. It has become mandatory for some companies to contribute to the society for the resources they have used.

Corporate accountability to society means that the companies are not only responsible to shareholders for business. They also need the help of its employees and workers who work hard for the growth of the company which results in good return in the term of dividends to shareholders and profits to the organization. So, the company is also responsible for its employees and workers and should contribute for their upliftment and growth. For the growth of its employees, many companies have started training centres for its employees and also the employees are given the privelages for various certification courses which are to be reimbursed from the company. They are also being given the opportunity of studying further.

The companies also use natural resources during their production process and in some way or the other ends up harming the valuable and rare resources of our society. So, in order to compensate the loss made to the environment because of them, many companies performs the activity like planting more trees, river cleanup drives, land cleanup drives, etc. This not only estrablishes their public image, but also helps in environment protection.

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