Beyond Profit: A Path to Zenith
The Chittagong University Journal of Commerce, Vol. 17, 2002 (p. 135-146)
13 Pages Posted: 4 Nov 2008 Last revised: 17 Feb 2009
Date Written: November 9, 2002
Now-a-days corporations are integral part of the society and it is often said that growth and prosperity of corporation imperative with the development of society. Corporation's particularly large one holds enormous power over the lives of people. Hence, society expect from corporation, a contribution for well being of the society and responsible behavior. A corporation would be a good citizen: by full and faithful payment of taxes, by observance of laws; going beyond the letter of the laws in crucial matters; judicious use of donations; direct involvement in social programs and community development projects. A social responsiveness model would definitely pave the way to zenith by strict and honest observance of these five principles. A good corporate governance is seen to include corporate citizenship and through an extension of good citizenship - corporate philanthropy. Government on its part should inaugurate a new era of cooperation with industry. This cooperation should emphasize a mutual understanding and acceptance of idea that both are partners in the progress of the nation. A company who is serious about ethical and social concern would do well to institutionalize ethics. It also demands a voluntary commitment to work towards continuous improvement in healthcare, environmental protection & safety and development of wider community. Corporations in India show their commitment towards social responsibility by undertaking various projects / program aims at these very objectives. To name the few Tata, HLL, Reliance, Mahindra & Mahindra included social responsibility among the rules of the game. Their perceived ethical and social attitude towards all those concerned helps them to become profitable and even assume leadership.
Keywords: Corporate Citizen, Business, Profit
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