Corporate Social Responsibility- CSR

Social responsibility is the theory that every entity has a duty towards the common good of society at large, in order to maintain a balance between economy and ecology. This responsibility can be at an individual or organizational level, but the idea is to give as much good back to the world that we live in, as we take from it.Have a look at corporate social responsibility for more info on this.
Economic development has always been seen as a trade-off between sustaining the world we live in and improving the economic climate, more so in urban societies where commerce seems to override the health of the environment. However, this need not be the case. With social responsibility, we can find ways of sustaining a balance between the two by either not engaging in acts that are harmful to the environment or working towards the advancement of social goals.
Corporate Social Responsibility or CSR refers to the efforts of a profit-making organization or business establishment, in the area of social betterment. The World Business Council for Sustainable Development defined CSR in one of it’s publications, as “…the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large”. It is often argued that CSR comes directly in the way of an establishment’s fundamental role of economic growth and profit making. However, it is clear that economic growth can only take us so far in a world where human, animal and environmental welfare takes a backseat. CSR is now a vital organ in the machinery of most established organizations the world over.

Similarly, Student Social Responsibility SSR and Individual Social Responsibility ISR are also viewed to hold both positive and negative repercussions to a society. Should an individual focus on self-interest alone or the larger interests of the community? Should a student concentrate on succeeding purely in academic pursuits, or does he or she benefit from being involved in the welfare of the society? The answer is simple: there is no individual gain when the community suffers; the fruits of one’s academic excellence hold no value when a society isn’t functioning optimally.