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Balancing Profit and Purpose: A Study on Corporate Social Responsibility in India

Davinder Thakur & Ritka

The corporate sector now plays a significant role in society. "Businesses are also social organizations," stated Michael Sabia, president and CEO of BCE Inc. This paradigm states that companies' responsibility is to generate value for both their shareholders and the general public, as evidenced by Business success is dependent on the harmony of the connection with the partner and involves many individuals and groups. Gaining social advantages through corporate social responsibility is crucial, and building the trust of customers will aid in the growth of the company. Numerous groups are launching efforts to increase understanding of the value of social engagement between government, business, and civil society organizations. Among the several names for "liability" are civil liability and civil liability. Richard Watts and Lord House's explanation of social responsibility in their book Good Business. Whether or not corporations are the cause of societal problems, the establishment now expects them to be able to contribute to their resolution. "Many business leaders now believe that doing good for others means doing good for shareholders," according to a recent report published in the company Journal. The process through which all firms band together to contribute to the well-being of society is known as corporate social responsibility. It is frequently described as an ethical company and a group that addresses social, ethical, environmental, and financial concerns. To preserve the environment, worker safety, product safety, and equal employment, new laws were created. High accountability businesses are able to show their obligations to the public, customers, employees, and shareholders.


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