Research Paper on Social Responsibility Of Business Organizations

Although the concept of social responsibility has been advocated for decades and is commonly employed by corporation globally, agreement on how social responsibility should be defined and implemented remains a contentions debate among academia, business and society. Social responsibility performed by business organization contribute to firm performance. In the last two decades we are witnessing a tremendous growth on social responsibility function performed by business organization. The reason behind that is business being part of society has to fulfill social obligation towards society.it uses the resources of society and provides its contribution for the welfare of every being of society such as owners, shareholders, employees etc. The paper builds up arguments based on literature, supported by observation and experience of the author and culminates by interpreting social responsibility as the commitment of business to abide by law and to operate in an ethical manner when it has the opportunities to do otherwise with identification and exploitation of business opportunities which generate mutual benefits for business and society. This paper reveal the historical background of social responsibility, arguments in favour and against social responsibility, area of social responsibility, business organization that practice social responsibility and social responsibility towards various interested parties.