Vol. 3, Issue 3, Part H (2017)
The role of management in corporate social responsibility
The Corporate Social Responsibility is a management based activity that helps companies to use or apply the social and environmental functions in their business operations to increase wealth of stakeholder. In other words, it’s a self-regulatory mechanism that ensures the efficiency of companies to work with ethical standards and national or international norms. Corporate Social Responsibility, business model has various benefits like; it increases customer retention, develops relations with customer & supplier, protects from competition, reduces operating costs, manages risk, generates innovations, improves business reputation & standard of living, helps to provide access for investment and funding opportunities. Apart from these benefits, the Corporate Social Responsibility has some dimensions in corporate world include business ethics, values & principles, accountability & transparency, environmental concerns, human rights, worker rights & welfare, market relations, sustainability and corporate governance. The proper functioning of these dimensions helps in increasing employer & employee loyalty, quality of products & services, reputation & brand image, and achieving greater productivity & quality, reducing regulatory oversight, accessing to capital & market, decreasing liability, less fluctuating stock market.
How to cite this article:
Y Satguru Roshan, Devanshi Dixit, Krati Agarwal, Dr. Suneshwer Prasad. The role of management in corporate social responsibility. Int J Appl Res 2017;3(3):476-477.