Abstract:

Corporate Social Responsibility means an obligation to improve and protect both the welfare of society as a whole in addition to the interests of the organization. This means managing their business processes while taking into account their economic, social and environmental impact, and considering human rights. Thus, this paper examines the business advantages of corporate social responsibility practices. Previous studies were reviewed and it was revealed that several benefits are derived by organizations that practice corporate social responsibility. Several advantages were identified like: enhanced company and brand reputation, reduction in operation costs, attracting new customers, improves the company’s public image, promotes long run profit, improved relations with the investors, vendors and community, better access to capital, enhanced employee relations, productivity and innovation and stronger relations within communities through stakeholder engagement. An ethical and socially responsible corporate behavior is always rewarded at some point or the other. The paper therefore concludes that businesses that carry out corporate social responsibility activities have a lot to benefit. Thus, it recommends that organizations should pay due consideration to corporate social responsibility and it should be practiced on a continuous basis. The business is surviving and breathing inside the society, so it has some responsibility towards society. Many social problems like lack of education, starvation, poverty, health issues, sanitation, animal protection, housing etc. have arisen out of this situation. Now the companies no longer regard profit as their sole purpose though it has helped many corporations to stay alive in the long term, but at the same time giving something back to the society wherein they operate

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