How Much Socially Responsible the Corporates are?

Abstract

Corporate Social responsibility does not only connote Self Regulation on the part of Corporates rather it also lies at the heart of Ethical standards and International norms; whereby companies are supposed to bring positive impact, through its activities, on the stakeholders. The Rationale of the concept of Corporate Social Responsibility (CSR) is that “industry can no longer be regarded as a private arrangement for enriching shareholders rather as a joint enterprise in which workers, management, consumers, the locality, government and trade union officials all play a part”(Berad, 2011). Business Ethics and Social responsibility go hand in hand because business ethics are of great importance to organizations because they carry the potential of transforming organizations’ cultures in accordance with principles of social responsibility (Saqib et. al, 2009). Such a transformation of organizational culture can lead to a transformation of the organization towards not only better management of stakeholder relations but also and more fundamentally innovation in how organizations do profitable business. So both Business Ethics and CSR hold a very important place in the development scenario of the world today and can pose an alternative tool for sustainable development. In this backdrop, the present paper is a modest attempt to examine that how much conscious are the BSE Sensex blue chip companies with respect to CSR activities. For the same, data on thirty blue chip companies have been analyzed by computing compound annual growth rates.

Keywords: CSR, Blue Chip Companies, Business Ethics

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