Question

Chapter Name: Handmaid of ethics: Corporate Social Responsibility

Creative Question ( some question has a requirement which is given with the question)

In your opinion How models for Implementation of CSR works in a corporation and why models for implementation of CSR are important in an organization ( Requirement: You must include in this topic : Ethical model, Statist model, Liberal model , Stakeholder model with example). Explain in your own word about the Scope of CSR and the Steps to CSR.

Answer 1

Let us answer the question as below.

The question of the social responsibility of Business Corporation is essentially an ethical question that combines social welfare with private business motives of making profit and wealth.

As industrialized countries had experienced, working of free enterprise system led to the emergence of many anti-social and anti-growth elements such as growth of monopolies, exploitation of labour, unemployment. This created the condition for assigning some social responsibilities to the private entrepreneurs.

The advocates of the corporate social responsibility specify responsibilities of businessmen towards share holders, the employees, the consumers, the government and the society as a whole.

For example, responsibilities towards society as a whole can be said as prevention of environmental pollution, preservation of ethical and moral values, making provision of health, education and cultural services, minimizing ecological imbalance and choosing appropriate technology.

At corporate level, the issue of social responsibility has two dimensions, i.e. meeting social responsibility in terms of financial contributions towards social welfare activities and aligning the working of the corporations with general welfare of the society, i.e. keeping social gains at par with private gains.

On the basis of above, when we analyse different models, we can say briefly that, ethical model focuses on voluntary commitment by corporations to public welfare, statist model, liberal model, stake holders model, all in overall focuses on corporate social responsibility as an investment based on the profit that remains after tax deductions. It adopts the fact that economic responsibilities form the basic responsibility that a corporate has to fulfil towards its share holders, customers, employees and communities as a whole.
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