Responsibility of Corporate towards Society

Society helps corporate to grow their businesses successfully. Without the help of society, Companies can’t do anything. Ex: We could take the example of West Bengal Tata Nano Plant .As without the help of villagers (whose land was acquired for that plant), Tata didn’t become successful in its mission and in this way it had moved its plant from West Bengal to Gujarat.

Society helps companies through many ways such as

  • Companies raise funds from society
  • Society provides land for infrastructure development
  • Companies recruit their work force from society
  • Society faces the damages which happens due to  Factories & Plants

In this way we could understand the contribution of society in the development and growth of companies. Now I want to ask a question, Is corporate also give the same type of contribution in the development and growth of society? I think no.

Companies pay tax to government and after that they feel free from their responsibility towards society.

I think corporate should take lesson from Azim Premji, Warren Buffet and Bill Gates who believe in the development of poor which are the bottom of the pyramid.

So, Corporates should pay a larger part of their income for the CSR (Corporate Social Responsibility) activities and in this way they could pay the interest of the debt which they have taken from the society.