Responsible Business is Good Business: A Case of Loyal Textiles Firm from Tamilnadu

Abstract

One of the most significant developments in the field of Corporate Social Responsibility (CSR) over the past few years has been the growth in public expectations that the companies not only make commitments to its stakeholders in its business operations but also commit themselves to social development activities. Generally, CSR is understood to be the way firms integrate social, environmental and economic concerns into their values, culture, decision-making, strategy and operations in a transparent and accountable manner and thereby establish better practices within the firm, create wealth and improve society. The time has come where the nation and its economic sectors need to concentrate not only on the growth but also on over all inclusive development of the society. Strategically speaking, business can only flourish when the communities and ecosystems which they operate are healthy. In this context, the article presents a case of a textile firm situated in Tamilnadu who have been into CSR activity since five decades.