Corporate Social Responsibility (CSR), also called corporate responsibility, corporate citizenship, responsible business and corporate social opportunity, is a concept whereby organizations consider the interests of the society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. It encompasses charitable activities in the field of healthcare, different forms of health camps, voluntary blood donation, education of the underprivileged, welfare of the physically challenged, organic farming, livelihood programs, alternate fuel – Jatropha plantation, slum rehabilitation, disaster management, etc., and also deals with sensitive issues like child labor, girl child, road safety, women wellness, minority development and even promotes the local club.
The practice of CSR is, however, subject to much debate and criticism. Proponents argue that there is a strong business case for CSR—corporations benefit in multiple ways by operating with a perspective on broader and longer than their own immediate, short-term profits, which range from reduced regulatory intervention and reduced costs by employee volunteering to the identification of new products and new market, increased sales, staff motivation and customer loyalty, all leading to a more sustainable business. Critics, however, argue that CSR distracts one from the fundamental economic role of businesses; others argue that it is just window-dressing and that it is an attempt to preempt the role of governments as a watchdog over powerful multinational corporations.
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