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Corporate social responsibility is the continuing commitment by the business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. For examples :( 1) Siemens help the poor people at time of tsunami. (2) Kamrock helps by building gardens. (3)Nirma built university for students
Demand for transparency and reporting
Some socialist that they prepare a CSR report it should be mandatory and should include specific targets that can be measured, year and year. They should take steps big steps towards corporates assuming greater responsibility for their policies and policies. The business should pay attention not only giving services by donating a few park or giving funds to the poor people .
Responsibility to Multiple stake holders
The social responsibility for the global organisation that helps member companies to make CSR an integral part of business operations, it defines it as ‘achieving commercial success in ways that honour ethical values and respect people and environment. Stakeholders are those who is mostly affected by corporate policies and practices. Today business has not just the financial accountability but social and environmental responsibility –popularly know as the triple bottom-line of good governance
Responsibility towards employees and community
The employees should get fair wages, good working condition, adequate services and cooperation. The most important thing they is reco gnition i.e. the management should hear there problems, demand and allowed to participate in the management decision. The employees should be given training and help to develop there skills. As the world is facing the problem of global warming the people aware that all is happening because of the pollution so to preserve earth and looked after so that our children ,future generations are not adversely affected
Responsibility towards suppliers
Suppliers are a businessman who supplies raw materials and other items required by manufacturer and trades. Management should deal with the suppliers judiciously. Giving the suppliers regulars orders for purchase of goods. Business should pay dues timely. Informing them for future development plans.
Responsibility towards government
Every business enterprise is governed by various laws. Business should follow the laws of the nation. They should taxes honestly to government. To avoid corrupting government employees. To courage fair trade practices.
Contributing to sustainable developmental
A company should be a responsible member of the society in which it operates that means contributing to sustainable development by working to improve the quality of life of employees, their families, the local community and stakeholder up and down the supply chain. The critics of CSR argue that meeting the expectation of a wide range of stakeholders raise the cost which will be passed on to the customers. Business viability and CSR do not go hand in hand? This is simply not true. Many corporates that have embraced CSR and sustainable development models, are extremely successful.
The customers are king of the market but the business thinks that customers are the headache. The business should provide good quality of product at reasonable price and plough back the profit for research and product development. In India when privatisation was not there at that time business exploited the people but after that the people have choice and there is competition among business so people get good quality at reasonable price. According to AZIM PREMJI he said that “People and organisation live for the future and it is the customer who really has the choice to grant us that future.