In the past few decades, business leaders as well as philosophers came up with a new phenomenon which is Corporate Social Responsibility (CSR). Under CSR Businesses are responsible to the society that exists around them. And under CSR only it becomes their moral duty to safeguard that society and help that society to grow.
Corporate Social Responsibility or CSR if often referred to a corporation’s initiatives to estimate and take responsibility of its effects on the environment and the society.
With the introduction of Corporate Social Responsibility provisions, many corporate consider this provision to be a burden on them. Many of them believe that the business set up by them is for the betterment of their own and their successors and when the Society’s welfare comes into picture, they say that govt.