Corporate Social Responsibilty and its Importance

Corporate Social Responsibility and Its Increasing Importance "The ideals of human perfectibility and of achievement are authentic antidotes to the existential anxiety of guilt. What is true for an individual is also true for our institutions. This understanding of existential guilt will ultimately lead us to measure all institutions -such as business, the family education, the law, commerce and politics-by the degree to which they support the development of the human potential" [Koestenbaum and Block, 2001:314] …

…multiple measures of trust and goodwill among the stake holders. The conclusion would be that a single-minded focus on business functions is not enough. The world is demanding for the businesses a better understanding of how they manifest themselves in the world yet today business measure more the financials. The business that do not change their dynamics will put themselves at risk and miss valuable opportunities for generating sales raising capital and avoiding punitive legislation.