Indian view of corporate social responsibility

In much of economic theory, it is assumed that a business aims to maximize profits. But, there is an emerging concept which says companies should not be motivated by profit alone. “Corporate Social Responsibility”: a holistic approach that takes into account the needs of shareholders, employees, customers, society and the environment to build a symbiotic relationship with all the stakeholders. Every system has flaws. Capitalism exploits the poor while Socialism dampens individual creativity and entrepreneurial spirit. Corporate social responsibility is the bridge between socialism and capitalism. It gives the Capitalist the heart to serve and socialist the spirit to innovate. A successful business requires Leadership combined with Human values. The main objective of this paper is to look into the prospects of CSR with special crux of Indian human values. Once the basic thinking of man is improved, it will automatically enhance the quality of his actions and their results. The basic need of human resource development will be possible by this way.