DEFINITION OF CSR 
    • “Corporate     Social   Responsibility   is  the 
      continuing commitment by business to behave 
      ethically   and    contribute    to    economic 
      development  while  improving  the  quality  of 
      life of the workplace and their families as well 
      as  of  the  local  community  and  society  at 
      large”.
  WHY SOCIAL RESPONSIBILITY OF BUSINESS? 
  •  ‘The  Business  of  business  is  Business’  was  the  motto  of 
   businesspersons in early times.
    •  To  economists  like  Adam  Smith  and  Milton  Friedman,  in  a 
   capitalist society profit maximization by the continued increase 
   of efficiency is the most socially responsible way of conducting 
   business.  This  implies  making  quick  money,  with  utter 
   disregard for the responsibility of business towards society. 
  • The ethical and social behavior of corporations is essential for 
   the generation of profit, owing its source to the reputation the 
   corporation would acquire in view of its social behavior.
    ACCOUNTABILITY TO SOCIETY 
  • In a democratic society, any kind of enterprise 
   exists for the sake of society. 
  • Industries are allowed to exist because they are 
   perceived  by  the  public  to  be  useful  in  the 
   attainment of the personal, social, and material 
   goals of the people. 
  •  So,  corporations exist for the sake the public, 
   they are accountable to the public and have a 
   social responsibility.
   CORPORATION’S DEBT TO SOCIETY 
   • Corporations, whether public or private, draw much from 
    society. 
   • It depends on society for a developed infrastructure such as 
    roads, water supply, electricity and an educated workforce. 
   • It also depends on society for the maintenance of law and 
    order,  public  health,  transport  facilities  and  for  reaching 
    out to its customers through the mass media.
   •  Finally,  all  consumers  of  its  finished  products  are  drawn 
    from society. If a corporation draws so much from society it 
    has to make its own contribution to society.
   CSR as a business strategy for sustainable 
           development 
  • “CSR is about capacity building for sustainable livelihoods” 
  •  Manifold  benefits  to  corporations  both  internally  and 
   externally.  Socially  Responsible  Investing  is  gaining 
   importance because :- 
  • Socially responsible companies offer long term value 
  • Evaluating a company’s social impact on top of its financial 
   performance provides an additional hedge against the risk 
  • SRI blunts adverse sentiments against the company “CSR 
   is  an  outcome  for  business  models,  which  goes  just 
   beyond financial viability.”