The Significance of Corporate Social Responsibility in Modern Healthcare in India: the Case of Tata Steel

Abstract

Traditionally, the goal of a business is to make a profit. However, when an enterprise grows to a certain scale, it must assume social responsibilities. Corporate social responsibility (CSR) is therefore seen as part of corporate governance. Businesses have their own interests, too. Corporate social responsibility is defined as the sacrifice of profits for the good of society. It supports employee-friendly, environmentally friendly, ethical, respectful of the local community, and even investor-friendly behavior. CSR critics claim that the company's ulterior motive is to improve its image. Of the roughly 75,000 companies listed on the Bombay Stock Exchange, only about 500 emit CSR. It worked in a backward area with almost no modern medical facilities. Its corporate social responsibility activities have made these products available to ordinary people, thereby reducing morbidity and mortality. The example set by Tata Steel can be followed by other business groups for the benefit of society as a whole.