CORPORATE SOCIAL RESPONSIBILITY

Business is a part of larger external environment. It is a sub-system of the society. The modern corporation exerts considerable influence on the civil society, polity and the economy of the nation. It has to justify its role in the society as society gives business the license to operate. Simply giving economic benefits to the shareholders is not sufficient as societal expectations are continuously increasing. These expectations are the main reason behind the evolution of corporate social responsibility. And these expectations are the result of rapidly growing size of the business.

With the passes of time business has become more powerful and now it has far reaching impact on every aspect of the society. These impacts make it a moral duty of the business to be accountable and responsible for the same market. Contrary to them many companies are showing their deep passion to bring development in the society through CSR initiatives.

London Group Benchmarking Model (LGB) illustrates the impact of different corporate activities (with corporate community involvement) on society.

The LGB model has laid down methodology to measure and report on inputs and outputs of corporate community involvement. The relative sizes of the components are meant to reflect the company’s impact on society. The philanthropic component is typically what companies do for the society without any expectations, like donation of money. Social investment component includes limited range of social issues chosen by the company to protect long term corporate interest and to enhance its reputation. In commercial initiatives, the company is focusing more on the commercial benefits of the social involvement while addressing social issues. Cause related marketing or event sponsorship are typical examples of this type of engagement.

The business basics part of the model relate to how the company does its business and whether it is sensitive about the impact of its business on society. As per this model, a company’s business basics activities are expected to impact society more than its Philanthropic activities.

CSR in India has traditionally been seen as a philanthropic activity. And in keeping with the Indian tradition, it was an activity that was performed but not deliberated. As a result, there is limited documentation on specific activities related to this concept.

However, what was clearly evident that much of this had a national character encapsulated within it, whether it was endowing institutions to actively participating in India’s freedom movement, and embedded in the idea of trusteeship.

Behavioral Dimensions of CSR by management philosophers

HUMAN DIGNITY

Survival of any enterprise is outcome of the harmony between the company’s objectives, objectives of the state system and the people. Any conflict between the objectives of these three interactive players would stuck the business firm in the middle of the road ,corporations  are  responsible  for  worker’s human  dignity  and  status,  and  worker’s training and development as Corporation’s resource and not cost.

SOCIAL VALUES

Businesses are obliged to make and pursue those policies decisions which are desirable to social values of the community.

SOCIAL NEEDS

Execution of the businesses policies shall not be restricted to the firm's Financial gain, corporate interests only rather it should also cater for the sociologic aspects as well.

ETHICAL CONCEPT

The  social  responsibility  has  become  an ethical concept CSR  is  a  very  important  dimension  of corporate strategy and not a precondition for business success. The businesses must find a viable Course of action between what is socially and ethically rights and what is economically profitable. CSR is a voluntary initiative and should be proactive. Business encompasses the economic, legal, ethical and discretionary expectations that society has of business.

MORAL DUTY       

CSR is business response to the growing public concerns which revolves around its Socio-moral responsibility towards the well beings of society. CSR is behavior of business over and above what is ordinarily required by regulatory bodies and legal requirements.     

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