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Society expects that businesses should play an active

role towards welfare of society.
Companies have started reporting CSR activities in
their annual reports along with the financial results.
The goal is to maximize true value and benefit for an
Contemporary social issues
1)Environmental Issues:-
 Corporate have been known to deplete natural resources and
contribute to environmental pollution and global warming.
 Therefore it makes efforts to follow to strict environmental
standards in order to do less harm to environment.
 Issues related to the natural environment include waste
disposal, deforestation, acid rain & land degradation.

2)Global Issues:-
 Globalization leads to the exploitation of developing
nations, workers &destruction of the environment
 On one hand globalization opens up the markets
leading to better standards of living.
 On other hand it primarily benefits the wealthy and
widens the gap between rich and poor.
3)Technology Issues:-
Contemporary society has benefitted from the use
of advanced technology.
Internet has opened up new avenues for marketing
goods and services, but also opened up possibility of
abuse by corporations.

Significance of CSR in
contemporary society.
1) To protect environment:-
 Business organizations utilize lot of resources from
the society.
 This are responsible for environmental degradation
i.e.air and water pollution, improper waste
 Therefore CSR activities needed to minimize the
negative effect on environment.
2)Enhanced Corporate Image:-
CSR activities of a business are aimed towards the
welfare of society and these helps to build positive
image for the firm.
A good image attracts investors to invest.
Goodwill on one hand attract better employees to
join such firms and on other hand attracts more

3)Balance between responsibility
and power:-
Business have a large amount of power in the
An equally large amount of responsibility is
required to balance it.
When power is greater than responsibility the
imbalance encourages and irresponsible behavior
woks against the public good.
4)Moral Responsibility:-
Business is a integral part of society.
Business organizations have a moral responsibility to
protect the interests and welfare of the society.
5)Survival of business:-
CSR activities are mandatory for long run survival of
Society will not accept the business organization if
they will not fulfill their social obligations.
6)Concept of trusteeship:-
Business is the custodian of resources of the society.
Society has given lot of resources to the business, thus
it is the responsibility of business to use this resources
for the benefit of society.
7)Long run profits:-
Socially responsible of business tend to have more and
secure long run profits.
This is due to better community relations and improved
corporate image.