Effects of corporate social responsibility on consumer relation a study on professional students of Odisha

Abstract

In current business environment, corporations try to find the ways of optimization to triple bottom line concept of sustainability management. Triple bottom line (TBL) is an important concept to create a positive impact of business organization in the society, environment, and the business community. The objective is to achieve sustainability by equally balancing economic, environmental and social criteria. Corporations bridge interrelationship between economic, social and environmental aspects through their business. This concept is famously known as corporate social responsibility (CSR), and is focus of business literature since recent decades. Corporate social responsibility (CSR) often referred as corporate citizenship, corporate social performance and sustainable responsible business, is focus of management researchers and business practitioners. Corporate social responsibility is defined (Wood, 1991), as a business organization s configuration of principles of social responsibility, processes of social responsiveness, and policies, programs, and observable outcomes as they relate to the firm s societal relationships. quotCurrent corporate performance measures involve the corporate social performance. This measure has critical importance to corporate sustainability and reputation management. CSR is being used today to establish good rapport with the public. It is also used as pre-emption strategy by the corporations to save their skin from unforeseen risks and corporate scandals, possible environmental accidents, governmental rules and regulations, protect eye-catching profits, brand differentiation, and better relationship with employees based on volunteerism terms. Corporations today are much conscious to publish their CSR activities on their websites, sustainability reports and their advertising campaigns in order to get the sympathy of the customer. newlineCSR is also practiced because customers as well as governments today are demanding more ethical behaviors from organizations. In response corporations are volu