Social Responsibility

With ever increasing concern on environmental hazards and issues related to various products and services, it is becoming an undeniable fact that a business should ensure its social responsibility to facilitate a societal sensitive corporate image. Koontz & Weihrich (1990) asserts that corporate social responsibility is nothing more than seriously considering the impact of company's action on society. However a more comprehensive definition refers social responsibility with the degree to which a company recognizes what being a good community and global citizen means and acts accordingly (Slocum, 1995:17). It was further asserted that there are three basic conceptual views of social responsibility are generally acknowledged. First 'traditional social responsibility' is referred to the perception that by serving the interests of shareholders, organization is fulfilling its social responsibility.