1Faculty Members, School of Management, SASTRA University, Thanjavur
2MBA Students, School of Management, SASTRA University, Thanjavur
In this modern world society expects more benefits from the "socially-responsible" corporations. Several critics concluded that "Big Pharma" corporations are not running to their societal responsibilities. CSR can be understood as the Socio-economical products of the managerial division of labor concept in the modern world. Worldwide scarcity, shortage and poor health are the primary responsibilities of the world's national governments and international government associations; it confiscates the authorization of society to proper organizational future conditions. Private companies do not have the societal authorization nor the corporations potential to serve for the poor people or to provide affordable health care facility to the ill in their residence nation and in the budding globe. On the other hand, private companies are providing facilities and responsibilities to the society. CSR is extremely important to augment the financial performance and value of the company. In the pharmaceutical industry, it is not only considering the profitability alone, but also it is focusing on the public and the environment conditions and to create an impact on the society.
Corporate social responsibility (CSR), socio-economic, private enterprise
