Corporate Social Responsibility
society. It implies that like individuals, corporates are alsothe part of the society and their behavior shall be guided bythe social norms.
Social Responsibility has been defined by Davis asfollows:
“Social responsibilities refer to businessman’s decision andactions taken to reason at least partially beyond the firm’sdirect economic or technical interest.”
Still broader view has been suggested by Andrewswhen he says that:
“By social responsibility, we mean the intelligent andobjective concern for the welfare of the society that restrainsindividual and corporate behavior from ultimatelydestructive activities, no mater how immediately profitable,and leads in the direction of positive contributions to humanbetterment, variously as the latter may be defined.” There has been a growing acceptance of the plea thatbusiness should be socially responsible i.e. it shoulddischarge its duties and responsibilities in enhancing thewelfare of the society of which it is an integral part.