Corporate Social Responsibility In Business

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Financial performance is key element of every business. Business cannot compete effectively in the dense competitive environment if it is not performing well. A better financial performance is the key to survive in the market. Company’s superior financial performance is very crucial for the management as it is an end result which is achieved by the responsible personals of an organization that have responsibility in achieving the set legal goals in compliance with ethic and morale. Through a sound financial performance the organization can develop and sustain competitive advantage in the industry. Financial performance of the firm do emphasize on those variables which are directly related to financial reports. It is the primary concern of every…show more content…
The corporate social responsibility is one of a building block for success in today’s competitive environment to improve financial performance of firm. The relationship between CSR and financial performance is becoming the topic of great interest in these days. The relationship between CSR and financial performance of firm is obvious because if business does something better for society along with quality offerings then it will lead to the superior financial performance for the firm. With the increase in number of stakeholders and the activist groups exert more pressure to become socially responsible. In today’s world, society’s interest and demand is growing for Corporate Social Responsibility (CSR). The reasons behind this can be the increasing influence of multinational corporations on the global economy and also the scandals enlightening terrible and dreadful working conditions and environment in different…show more content…
In Corporate Social Responsibility, firms at the same time deal with organizational goals and objectives and societal interests by being answerable for the impact of their operations and activities on different stakeholders.CSR is now having much significance and popularity around the world. Now a days, there has a great change as corporate world is giving more importance to societal interest and considering socio-economic a more important part of their business method as Corporate Social Initiatives help group wellbeing (Aids control programs), security (driving training, wrongdoing prevention), employment (employment preparing and training programs) and education (overcome illiteracy, workstation preparing) and environment and so
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