corporate social responsibility
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SOCIAL RESPONSIBILITY OF INDUSTRY
Traditionally the basic objective of business was to maximize its profit. But, recently, with increasing awareness of people, this view has changed. Now, it is believed that the managers of large companies must make decisions in such a way that they can maintain an equitable balance among the shareholders, employees, customers, suppliers and general public. Later on such view was developed as social responsibility.
Social responsibility refers to the businessman's decisions and actions taken to reason at least partially beyond the firm's direct economic or technical interest. It contends that management is responsible to the organization itself, and to all the interest groups such as, workers, customers, creditors, suppliers, government and society in general is placed essentially equal with shareholders.
WHY BUSINESS/INDUSTRY HAS SOCIAL RESPONSIBILITY?
 A business organization is a part of society and it has to work to exist in the society.
 It gets co-operation from different sections of society such as, workers, customers, shareholders, suppliers etc, without their co-operation, a business/industry can not exist and development. Therefore, it must discharge its social responsibility towards society...