1. Corporate Social Responsibility in Society’s words<br />quot;
Corporate social responsibility is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it... because it is good for our businessquot;
- Niall Fitzerald, Former CEO, Unilever<br />Corporate social responsibility is a commitment to improve society well-being through discretionary business practices and contribute business recourses. As we know that, every business operates and functioning into the society and use society resources to do its operation consistency. So the corporation also has some responsibility toward society. They have to keep in mind that whatever the activity they have been doing that should not harm to society. It does not mean that we include only activities which are mandatory by law or a business has an obligation to do but business has to take voluntary commitment toward society’s welfare. For example-: Vodafone Essar sponsored to launch battery operator rickshaw (E-rickshaw) to make our environment green and clean and also have a plan to launch “Clean Delhi Clean Yamuna program” in association with “Art of Living”. During the program Vodafone will send SMSs to its subscribers for creating awareness towards their initiatives. The Mahindra Group defines Corporate Social Responsibility as making socially responsible products, engaging in socially responsible employee relations and making a commitment to the community around it. At the Mahindra Group, Corporate Social Responsibility is not just a duty; it's a way of life. It pledged to dedicate 1% of its profit (after tax), on a continuous basis towards Corporate Social Responsibility. A unique kind of ESOPs - Employee Social Options was launched to enable Mahindra employees to involve themselves in socially responsible activities of their choice. The Group also announced a special gift: to provide free cochlear implants to 60 profoundly hearing-impaired, under-privileged children.<br />Some of corporation state that social responsibility of business is to engage in the activity where organization can make profit by using their resources but they had forgotten that make profit is not only sole function of business. We have to take care of all those who are assure us in existence and survival of business in society (shareholders, investors, suppliers, employees, customer and society and community in general etc). In today scenario no one can afford to ignore their responsibility toward society’s welfare as it helps corporation to earn goodwill and reputation in society where they are surviving because people prefer to buy products of those company who are engaging in society welfare and it also help in managing political and social challenge. For example Pepsico using recycled Pet for keeping our environment clean and green and it also pioneered several major initiatives to replenish water in communities. Its goal to conserve, replenish and thus offset the water used in our manufacturing process through community water recharge projects and water conservation projects in agriculture. They were able to give back more water than we consumed, through our various initiatives of recharging, replenishing & reusing water.<br />