CSR - A HUMAN FACE OF CAPITALISM

IS CSR A HUMAN FACE OF CAPITALISM?

Corporate Social Responsibility is about establishing positive impact on society by managing their business to produce overall service to the community. CSR is a continuing commitment by business organisation to behave ethically and contribute to economic development while improving the quality of life of the people, local community and society at large. Even the government has encourages industries to be socially responsible.

It aims to create a positive relationship between organisation and society involvement in social causes and reputation building. Society expects the organisations to be socially responsible as the economic development of the society is dependent on business environment. It concentrates more on community building rather than profit which is the core policy of any companies.

One of the examples as how CSR is a human face of Capitalism is through the contribution of ITC ltd towards rural child development where it says that every purchase of 4 ITC classmate notebooks, 1 rupee value will be contributed towards the education of poor children. It also initiates rural development in the field of agriculture by empowering Indian farmers through the use of computers with access to internet serves as both a social gathering place for information and e-commerce hub. Thus, improving their productivity and income. Through this, ITC expresses its belief that country must come before corporation. ITC was also conferred the 2012 World Business and Development Award  for its transformational rural initiatives in social and farm forestry programmes in India on June 21, 2012 during Rio+20 Summit in Rio De Janeiro.

Hence, CSR considers the interest of the society by taking responsibility for the impact of their activities on the customers, communities as well as the environment. However for it to be effective, CSR should be a joint effort of corporate, non-governmental organisations and the government together in order to achieve the desired results.