Social Responsibility For The Welfare Of Society Essay

Cooke and Mendelson define social responsibility as, ‘the concern for the welfare of society which restrains business from engaging in destructive activities, whatever their immediate profitability and focuses their contributions on the betterment of society’ . Intrinsically, corporate social responsibility (â€Å"CSR†) as Yamusa postulates, involves not just charitable gestures by a company but also the application of internationally recognised best practices of business standards in its operations taking into consideration the dilemma of host communities and government and ensuring that issues of human rights, human capital development and the environment are incorporated into the company s policies and decision-making .Thus, CSR is an issue that borders on economic, legal, ethical, and unrestricted expectations that society has of organizations at a given point in time. It requires organizations to adopt a broader view of its responsibilities that includes not only stockholders, but many other participants as well, including employees, the local community, local, state, and federal governments, environmental groups, and other special interest groups. Corporate codes of conduct, community development projects and voluntary social reporting are key tools of CSR employed by multi-national corporations(MNCs); while the areas covered by their CSR initiatives include; human rights, transparency issues, employees welfare, environmental issues, disclosure of information, andShow MoreRelated Social Welfare Past and Present Essay1325 Words   |  6 PagesSocial Welfare Past and Present Social welfare is an expansive system proposed to maintain the well being of individuals within a society. 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