Recent years have seen an increasing awareness for a need of greater social responsibility, so much so that it has been declared the “ tidal wave of the future” In this changing business environment, it has been suggested that businesses seek long-term sustainable business strategies that are not only profitable but also ensure environmental protection and socially responsible corporate citizenship. This is to say that businesses should strive to create and maintain a balance between profitability and social responsibility. However, there is a cost involved for those businesses that practise corporate social responsibility. This cost varies according to the strategies, policies and programs that are put in place.

Specific social programs may or may not be costly for companies to put in place and furthermore, the cost may not only be measured by the amount of money invested in the program but also in the final outcome of the company. For example, Mc Donald’s has a program, which promotes academic achievement . In this program, employees earn an hour’s wage for coming in and doing schoolwork for and hour before their shift begins. Thi

• Increased Profits: - In some instances, there is a positive relationship between profits and social responsibility. Some companies have argued that since implementing social programs their profits have increased.

The new market place is proving that profits can be made by embracing rather than ignoring social concerns. Those firms who choose to ignore their social responsibility may have to face the wrath of a discontented public, zealous special interest groups and a global and informative media, which will be to their detriment.

Does Social Responsibility Make Economic Sense?

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